Franchising Your Way Thru Tough Times

No one so far has said it’s going to be easy getting through the current economic climate, but savvy franchisees who know how to apply expert advice will certainly make it to better times. One way to be among the successful is to learn the techniques and strategies specifically tailored for franchise owners, regardless of the franchise niche they’re in. MarketingSage, long a leader in marketing consulting for a variety of industries, offers a FREE online video with tips on areas of your business that can be re-positioned to make the most out of these soft business times. Targeted to the technology industry, the video nonetheless offers a wealth of valuable insight to franchisees of every category.  

Peter Casey, Franchising Consultant

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Ready-Made Business Can Pay Off But It Requires Hard Work, Money, & Caution   

By Eve Tahmincioglu, msnbc.com contributor, Thurs., March. 26, 2009

Taso Louloudis knew the construction industry he and his wife Kim worked in was suffering, but neither expected they’d both lose their jobs in the same year.

Kim was laid off from her job at Engineered Homes in Orlando in May, and Taso lost his job as construction manager for Rey Homes on Nov. 7, his birthday.

“I’ve been doing construction my entire life, working my way up from subcontractor to a point where I was the boss that did hiring and firing,” Taso said.

At age 50, with only a high school diploma, he realized his career choices were limited.

So Louloudis and his wife turned to franchising.

More and more laid off workers are considering franchising as an alternative to working for someone else, according to experts in the industry.

Some see franchising as an easy way to entrepreneurship and economic independence. But becoming a successful franchisee takes a lot of hard work and money. It could take years before you’re able to replace your income.

Because the Louloudises love pets — they have four dogs and five cats at home, many of whom are rescue animals — they embarked on finding a pet-related business.

They considered a host of options, including doggie daycare and pet sitting, but decided against starting their own company from the ground up due to the intense competition for such services in their area.

They now own a Fetch! Pet Care, a franchise that offers in-home pet sitting services.

The Louloudises bought the franchise for $13,000, plus the cost of a flight to Fetch’s headquarters in Walnut Creek, Calif., for training. They expect to bring in sales of about $50,000 by the end of this year.

Should you open a franchise?
If you really have the heart of an entrepreneur, franchising is probably not for you. First off, it’s not your business idea that you nurture and grow. You’ll have to follow a strict playbook of operating the franchise. Often agreements are written so you can’t even sell the franchise operation without the approval from the franchise company, said Walter Zweifler of Zweifler Financial Research, which analyzes franchising opportunities for investors.