Naturally, most Entrepreneurs seek an opportunity that allows them to build a wonderful enterprise appealing to the masses with the most fabulous “can’t live without it” product or service.
Obviously, this enterprise could be a start-up, existing business or a franchise. Start-ups are of interest because you can do it “your way” and have that control we all desire. However, the Entrepreneur typically doesn’t have the patience to put all the applications of the idea into action. As the idea materializes, the details and application steps sometimes get lost in the grandiose plan and future pacing of the Entrepreneur.
Existing business acquisitions can often provide the Entrepreneur with a platform upon which to build his/her empire. Purchasing a “stream of income” can jumpstart the process and sometimes accelerate the growth curve. Finding the right one can be tedious, time consuming and difficult to negotiate. The occasional “oh, by the way” surprises can be jolting and cause severe headaches!
Entrepreneurs wish to control their own destiny...captain their own ship. Is this Utopia?
Perhaps, but more accurately the drive to create something that is useful and/or desired by the consumer. To produce a reasonable and expected ROI and to exceed predicted growth (multiple locations, linear growth, new market channels, diversification of product or service)
The Franchise Model…
Some Entrepreneurs prefer to form their own business model. Others gravitate to a proven concept like the business format franchise model. Particularly for the entrepreneur who has never owned a business before…..the franchise model provides a stepping stone to achieving the “golden ring”. Master Franchises are a good example.
Now here’s a REAL entrepreneur’s dream. Master Franchises have been touted as the “Best Kept Secret in Franchising Today”.
The Master franchise concept allows the Entrepreneur to:
· Have the largest territory offered by franchisors
· Create expanded income generation
· Build equity in the business at a faster pace
· Act as a consultant to the franchisees in your territory, helping them to succeed
So, why aren’t more franchisors using this concept as a way to expand more expediently?
· Because the concept is relatively new
· Because some franchise attorneys do not favor this model
· Franchisor is not willing to share the fees and royalties
The Business Format Franchise model is more popular than ever. Considering there are 5,000 franchises spanning approximately 80 industries, it is safe to say the franchise industry is exploding with growth. Franchise “fever” is definitely prevalent and “catching”.
Many of my clients are casualties of corporate mergers. Some find they are overqualified or too old for re-hire, especially when corporate America prefers the recent college grad. Forget about experience and knowledge gained from years of product knowledge, management and leadership……it’s all about money $.
Yes, there are many Entrepreneurs lurking in the carnage of today’s Mergers and Acquisitions battlefields. So what are these guys and gals doing in their next career path?
You’d be surprised how many are considering business ownership. It beats the rejection and demoralization of the job hunt for those 45 and older.
Perhaps your next career path is a business format franchise. Area Development or Master Franchise anyone?
Entrepreneur’s Opportunity...Franchise Ownership - To learn more about this author, visit Anne Barr's Website.
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Anne Barr
(Visit Anne's Website)
Anne Barr has over 26 years experience in
sales and marketing, six years as a
franchisee. She has assisted over 367
business owners and purchasers to achieve
their goals in career change, transition
and exit strategy. She holds the
designation of Certified Franchise
Executive from the International Franchise
Association, Certified Business
Intermediary from the International
Business Brokers Association and Board
Certified Broker from the Texas
Association of Business Brokers. Anne is
active in professional organizations,
networking groups and volunteers for
non-profit entities. As owner/operator of
four successful businesses, Anne has
proven people skills and enjoys helping
clients find the right "fit" in business
ownership. Visit www.FranchiseOpportunitySpecialist.co
m for more information about me and my
company.
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I got a great question the other day which highlights the tension that can emerge in an early stage company between VCs and entrepreneurs.
