four stones approach 

 to franchising

Franchising is simply a method of business expansion.

What it is...

  • Marketing Vehicle

  • Partnership with Corp

  • Group Support … Competitive Advice

  • Local with National Potential

What it is not...

  • Guaranteed

  • As flexible as independent business

  • 100% hands off

  • Truly Entrepreneurial

STEP 1: INTROSPECTIVE SELF...YOU

  • 5 Pillars of Emotional Intelligence

    • Self-Awareness … Get to know you

    • Self-Management … Control you

    • Motivation … Finding your Why

    • Empathy … For others

    • Social Skills … Not just about you

  • How to discover ... Assessments

STEP 2: FRANCHISORS...THEM

  • Owner models

    • Owner-operator, Executive, Semi-Absentee, Absentee/Investor

  • Operation Models

    • Simple Retail, Sophisticated Retail, Service Based B2C or B2B

  • Types of Agreements

    • Single Unit, Multi-Unit, Master License

  • Transparency in communication … Both ways

  • Have well thought out questions … Both ways

  • Get into the position of power ... Be Awarded not Sold

  • Be careful of … Their financials, Bad Branding, Pressure

STEP 3: FRANCHISEES...US

  • Validation Conversations

    • Be Prepared

    • Talk to a wide sample

    • Compare yourself

    • Careful if speaking to neighbor

  • Some Main Points to cover

    • Royalty Value ... Are they getting support

    • Do it again?

    • How is the group cohesion

  • Discovery Day Visit

STEP 4a: LEGAL...PARTNERS

  • Franchise Disclosure Document

    • What is it?

    • How to use it?

  • Franchise Agreement

    • What is the difference

  • Use a Franchise Attorney

  • Look for transparency

STEP 4b: FINANCIAL...PARTNERS

  • Other Peoples Money

    • Bank Loans … Conventional or SBA

    • Hard Money or Line of Credit (Cards) ... Be careful

    • Friends & Family … Be even more careful

    • Franchisor ... Rare

  • Your Money

    • Cash

    • Assets

    • Home Equity

    • Retirement Account … Use an experienced firm

RESOURCES FOR RESEARCH

  • Business Structures

    • C-Corp

    • S-Corp

    • LLC

  • Financial Knowledge & Partners

    • Financial Statements

    • Creating a Pro-Forma

    • CPA & Bookkeeper

COMPANY

LEARN MORE

© 2020 by Ascending Athletes

CONTACT US

 

(888) 964-9990

1701 W Northwest Hwy

Grapevine, TX 76051

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