Franchising

Want to own your own business, but don't know where to start?

Franchises offer a great opportunity for people who are interested in getting into business for themselves - but don't necessarily want to be in business by themselves.  The larger franchise operation provides a lot of the things you need to get started, including proven business practices; recognizable branding; marketing and advertising and readily identifiable products with an established market.

At first glance, aligning yourself with a franchise seems like a very smart way to establish an independent business and a secure financial future.  But take another look and you might see something else.

In return for providing you with a wide range of things you need to get your business off the ground and keep it running, the franchise will ask you for a number of things.

  • Every franchise organization has specific financial reporting standards. These are intended to provide the larger organization with the information it needs to monitor performance.  In many cases, simply providing this information to your franchisor may not give you a clear picture of what's going on in your own business.
  • There is a hard and fast schedule for providing financial and performance information to your franchisor.  There are no extensions.  If you are not well prepared, you may find yourself distracted from running your stores.
  • Franchisors tend to have very strict standards for borrowing and obtaining external financing.  You could find yourself temporarily in a real cash crunch, but unable to get permission for the financing you need to help you weather the storm.
  • Franchise organizations want you to upgrade your space and equipment on a regular basis - even if your current space is serving your customers just fine and your equipment is performing up to expectations.

Since 2013, Jimmy Poag has helped franchisees (including owners of Staymobile stores) leverage their businesses for financial success.  We can help you:

  • Make smart business decisions - such as when to upgrade or expand (or even when to purchase your first store).
  • Comply with your franchisor's reporting requirements.
  • Examine your financials from your own perspective, so you can see how you're really doing.
  • Advocate effectively for yourself and your own business interests with your franchisor.

Anybody can run the numbers.  We provide the multi-tiered consulting services that can make those numbers sing.  If you're thinking about opening a franchise - or if you already have one - you might benefit from having us as a partner.  Contact us today to see if it is the right time for you to make the leap. 

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