Tag Archives: buying a franchise

Turning 50 isn’t the end of a business career – new wave of silvererpreneurs

Get qualified in days not years

The only way is up after a downturn

article by Diane Shawe M.Ed

Turning 50 isn’t the end of a business career – it’s the beginning. And an ever-growing wave of ‘olderpreneurs’, starting a business have 70% chance of surviving their first five years compared with only a 28% survival rate for those younger than them.

Nearly half the self-employment population is over 50, and one in six new businesses started in the UK are set up by post-half-centurions.

So what’s fuelling the entrepreneurial impetus of the ‘silver startup’, and why are they doing so well?

Necessity

The over-50s age group has been particularly hard-hit by the recession. Last year, the Office of National Statistics (ONS) revealed 28% of those aged between 50 and state pension age were out of work – compared with only 20% of those aged under 50.

Why? One of the biggest factors is the rife ageism that permeates practically every industry in the UK, that anyone over 50 who’s been forced to look for employment will testify to with a weary nod. The ONS estimates those who lose their job aged 50 or over have only a 10% chance of being re-employed.

Deciding to use their money from redundancies to fund ta company, over the course of two years the payout had trickled in its entirety into the business. But it was worth the investment – and they often don’t have to rely on the ineffective banks at the moment.

77 Questions to avoid business failure

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New challenge

At a fundamental level, sometimes people just want to do something different in their later years.

It’s interesting that recent YouGov and Standard Life research found the average age at which people feel totally confident in their working skills is 37, while the more elusive sense of fulfilment peaks at 50. Perhaps this climax of achievement and sense of ability leads to a need for a new direction, a new challenge, once a person passes the half-century mark.

You’re in good company if your over 50 and considering starting a business.

More than four out of 10 new businesses in the UK are started by people over 50, according to the Office for National Statistics. And it’s a growing trend. A recent report from Barclays highlighted that over 55s are now 63% more likely to start businesses than 10 years ago.

And this rise in business owners doesn’t just apply to founders in their 50s – the number of self-employed people aged 65 and over has more than doubled in the UK in the past five years.

While there’s never a ‘right time’ to pursue a business idea, an increasing number of people in their 50s and over – dubbed ‘olderpreneurs’ – are shifting to entrepreneurship. But why?

For starters, budding business owners in their 50s are capitalising on the government pension freedoms – first introduced back in 2015 – and are opting to take their tax free cash lump-sum to “create wealth” by using their pensions to start a business.

However, it’s not just pension-led funding which is boosting the numbers of  the UK’s older entrepreneurs.

Low-interest loans and mentoring, provided by the likes of , is playing an integral part in funding and supporting the growth of founders in their 50s with over 5,700 loans having been supplied to founders aged 50 and over by the organisation to date.

Supported by research from PRIME that those who start a business in their 50s are 42% more likely to be successful than their younger counterparts, we want to shake off the notion that starting a business in middle-age isn’t a good idea. On the contrary, older entrepreneurs have the advantage of being able to tap into wealth of experience and knowledge which they can put to use in a start-up venture.

To break down stereotypes, we’ve highlighted five inspiring businesses founded by entrepreneurs aged 50 and over, who each received a Start Up Loan to make their business dreams a reality.

Operating in industries ranging from domestic care to street food.

After every downturn there is alway a upturn because people really work hard along with banks, investors and government to make it work.

Top 7 Reasons for Buying a Hair Extensions and Hairloss Franchise by Diane Shawe

Buying a franchise can be a life-changing experience. Make sure it’s a positive experience by doing your due diligence before signing a franchise agreement. A properly designed and executed franchise system can be an exceptional method of expansion, but franchise systems that are poorly designed or not well managed are to be avoided. Below are the top 7 reasons to consider investing in a hair extensions franchise.

01

An Existing Franchise Is a Turnkey Business

Many entrepreneurs have the skills to run an existing successful business but don’t have expertise in all it takes to get a business up and running, whether that’s obtaining financing or negotiating lease terms.

Buying an existing franchise in a well-designed system can eliminate much of the hard work: choosing a territory, finding a location, negotiating a lease, finding reliable contractors to complete a build-out on time and on budget, establishing vendor relationships, etc. You may also be able to start a business with trained staff already in place.

But, you will still need to do your homework – aside from the transfer fee, your fees and terms may be substantially different than the sellers.

02

Proven System in Place

When you buy a franchise, you buy a system – an entire method of doing business. Franchises have an established system in place that you must follow to distribute the franchisor’s products or services using the franchisor’s trade or service marks. Having a proven system already in place eliminates the guesswork and errors a common business owner would normally face.

In addition to exercising some control over franchising operations and the franchisee’s adherence to brand guidelines, the franchisor provides the franchisee with franchising leadership and support.

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03

Corporate Image and Brand Awareness

If you buy into a franchise system that is already established, the corporate image and brand awareness is already recognised. Customers are usually more comfortable purchasing items they are familiar with and working with companies they already know and trust.

In the consumer’s mind, a franchisor’s brand equals the company’s reputation. Great franchisors want to ensure that their customers are satisfied every time they shop at a franchised location and that the franchisee delivers on the franchisor’s brand promise.

04

Higher Likelihood of Success

Buying a franchise is very different from starting a mom-and-pop business. Since there is an already established system in place, there is a higher likelihood of success. If you invest in a proven franchise opportunity and follow the system the franchisor has put in place, you should be on your way to running a successful business.

05

Easier to Obtain Financing

Lenders are usually very comfortable financing the purchase of a franchise because franchises already have a proven track record. Bankers usually look at successful franchise chains as having a lower risk of repayment default and are more likely to loan money based on that premise.

In addition, some franchise systems will provide in-house financing and/or leasing options. Many systems also offer special discounts for veterans, via the VetFran initiative.

06

Training

Most franchise companies offer a training program that is typically held at their corporate offices, plus additional training that occurs at the actual franchise location before the grand opening. The franchisor will train you to run your franchise the same way their other franchised locations are run.

It will ensure that you are running your business efficiently, and will help to eliminate any common mistakes a new business owner usually faces.

07

Ongoing Support

When you buy a franchise, you have the support of the franchisor and the support of knowing you are part of a growing system. You will always be able to pick up the phone and ask questions of the franchisor or even other franchisees.

Established franchisors typically also have field staff who can visit your location to provide coaching and consulting if needed.

Do Hair Extensions, Hairloss and Beauty Franchises work?

It would seem that there is a blind spot towards innovation outside of technology as we forge ahead with directing where the investment opportunities are bedded.

We are living in a new economy—powered by technology, fueled by information, and driven by knowledge. And we are entering the new century with opportunities on our side saddled with huge problems that require new thinking. I believe a percentage of our system must focus on the areas where humans can outclass computers—such as in cognitive skills, interpersonal skills, fine motor skills, and perform tasks machine might currently find unprofitable.

More and more top fortune company’s are giving way to automation primarily to drive costs down, improve reliability, security and accuracy.

I believes that we need to make sure that the type of education and economical opportunity supplied can keep a population in work or self-employment, performing meaningful tasks relevant to todays and tomorrow needs.

http://academyexpresscourses.com/2018/10/17/hair-extensions-franchise-makes-entry-into-market-place/

The Anatomy of a Budding Millionaire by Diane Shawe

We all know about the 10 Commandments, but do most people follow them verbatim?

Everyone wants to go to heaven, but the discipline and route is often seem as getting in the way of everyday pleasures and life.

I began reading the book Millionaires Fastlane by MJ DeMarco. In it he explains what would happen if certain commandments were violated whilst trying to pursue the millionaire entrepreneurial route without any control.

So let me dive in by introducing you to his commandments and anatomy of a fast track millionaires journey.

1)The Commandment of Control

2)The Commandment of Entry

3)The Commandment of Need

4)The Commandment of Time

5)The Commandment of Scale”

Fastlane drivers retain control. Those who violate the commandment do not. In general:

✓- Drivers create MLM companies; they don’t join them.

✓- Drivers sell franchises; they don’t buy them.

✓- Drivers offer affiliate programs; they don’t join them.

✓- Drivers run hedge funds; they don’t invest in them. ✓- Drivers sell stock; they don’t buy stock.

✓- Drivers offer drop-shipping; they don’t use drop-shipping.

✓- Drivers offer employment; they don’t get employed.

Drivers accept rents and royalties; they don’t pay rents and royalties.

✓- Drivers sell licenses; they don’t buy them.

✓- Drivers sell IPO shares; they don’t buy them.

✓- Drivers don’t join the hottest trend, they serve the hottest trend.

No this part gripped me….

Invest in Your Brand Only! Whose money tree are you growing? Are you investing in your brand or in someone else’s?

When you invest into someone else’s brand you become part of the marketing plan.

You can get a copy here https://www.amazon.co.uk/Millionaire-Fastlane-Crack-Wealth-Lifetime-ebook/dp/B004BDOUAI/ref=sr_1_1?ie=UTF8&qid=1538152124&sr=8-1&keywords=millionaires+fastlane


http://www.needahairmakeoverfranchise.co.uk

Why buying a Franchise business makes smarter business sence

Why buying a Franchise business makes smarter business sense

Hoping to be your own boss? OneRick Grossman’s book Franchise Bible and franchise expert outlines the plus side of buying a franchise

The following excerpt is from Rick Grossman’s book Franchise Bible. Buy it now from Amazon | Barnes & Noble | iTunes | IndieBound

Very few people have the natural ability or expertise to be efficient at all aspects of running a successful business. That is where the franchisor’s experience comes into play. Franchise organisations offer a structure for launching, operating and growing a business. Indeed, the successful franchisor will deliver the entire framework around which the business is built. Franchisors usually create comprehensive operations manuals and training programs for their franchise owners that cover marketing, operations, accounting, technology and other areas that are specific to the particular business model. These efficiencies are designed to enable franchise owners to earn more and spend less time and effort than otherwise would be required to open and operate a similar business on their own.

Collaboration

The franchise organisation model offers the franchisee the ability to grow under a common brand and share in the benefits of a larger group of business owners. Though each business is independently owned and managed, all franchisees share in the collaborative benefits of the organisation through the support and oversight of the franchisor including:

  • Group advertising resources not typically available to small, independent business owners
  • Owning your own business and making day-to-day decisions yourself, guided by the experience of a successful business enterprise
  • The ability to sell products and services to markets that company-owned outlets have difficulty serving because of higher operational costs and lower motivation of employees in company-owned outlets
  • The benefit of recognized and proven service marks, trademarks, proprietary information, patents and/or designs
  • Training from successful business operators
  • A lower risk of failure and/or loss of investments than if you were to start your own business from scratch
  • Being a part of a uniform operation, which means all franchises will share the same interior and exterior physical appearance, the same product, the same service and product quality and overall customer brand awareness
  • Operational support from the franchisor, both before and after launching your business venture, in areas such as financing, accounting, employee training and operational procedures
  • An opportunity to enhance your management abilities within an established business model that you couldn’t experience in most employment situations

From the franchisor’s perspective, this collaboration:

  • Offers the franchisor a method of rapid expansion
  • Spreads the brand messaging and awareness over a large network of franchise owners
  • Taps in to the franchise owner community’s “pride of ownership”
  • Allows the franchise owner community to grow due to a duplicable system and support
  • Features increased buying power for goods and services due to higher volume with suppliers
  • Enables new products and services to be developed in the field with more testing and input
  • Provides a steady cash flow to the franchisor to facilitate overall growth of the system
  • Can fund the brand recognition effort to grow nationally and globally

Franchising offers a better chance to succeed

The U.S. Department of Commerce and other authors of statistics concerning franchising have shown that the revenue from franchise establishments accounts for over one-third of all U.S. retail sales.

Government research over the years has indicated that the success rate for franchise-owned endeavors is significantly better than the rate for non-franchise-owned small businesses. In short, the good news is that franchising makes up a significant part of the national economy and presents a statistically better chance for success than other business options.

The freedom factor

Most individuals seek three common elements when choosing a franchised business:

  • Flexibility
  • Money
  • Status

These three elements are important for a variety of reasons and seem to be common denominators when people seek a new business as a career path. Flexibility has always been a hot button for entrepreneurs who exchange the stability of a “real job” for the freedom that comes with being their own boss. Money, or income, is always a factor but surprisingly is seldom the most important. We know many people who have left huge salaries behind because they were miserable, to pursue the American Dream and launch a business. Status is an all-encompassing category that includes not only titles and position, but more important, the feeling of purpose one has and being a part of something significant.

Owning a franchise can provide you with all three of these elements if you operate the business successfully and manage your time and resources properly.

Happy franchise owners make more money

It’s been said that if you love what you do, you can’t help but succeed. There’s a lot of truth to this statement. If you can align yourself with a franchise that really fits, you’ll be much happier, which in turn results in higher productivity. This is a simple philosophy that’s often overlooked. Some franchise organisations have suffered because they lost sight of this reality during the fast growth stages.

The explosive growth that many franchises experience is referred to as “hockey stick” growth due to the way it’s charted on a line graph. Sometimes companies are so successful and grow so fast that they seemingly forget about the little things that made them successful in the first place. In this case, their initial success can lead to their ultimate failure. A franchise organisation that forgets that their franchise-owner community is in fact their “customer” base (each of whom should be treated with respect and with an eye towards making them satisfied) usually comes down like a house of cards.

Think about this for just a moment: If the franchisor understands that its franchisees are the heart and soul of their success and understand a very basic premise — if the franchisees are happy then they’ll generate more revenue — then it will build on that reputation and financial model. But if the franchisor sees its franchisees merely as cogs in a wheel that deserve no respect, the system ultimately fails — and not because the end product is poor, but because the sales force that’s presenting the product to the general public is dissatisfied. We see this all too often.

Disclaimer: Rick Grossman’s Franchise exerts  inside this blog are by no means an endorsement of any particular franchise.

Need a Hair Makeover Franchise Info Brochure 2018