Owning your own business is a big undertaking, but with hard work, you can be rewarded ten-fold. If you’re not interested in creating a startup from scratch, then a franchise might be the right choice for you. With a proven business model, brand recognition, and high success rates, a franchise is a good option for financial stability while still maintaining your independence as a business owner.
On today’s show, we’re pleased to welcome Leslie Kuban, franchise industry expert, and owner of FranNet in Atlanta, a locally owned and operated franchise consulting firm, to discuss the ins and outs of franchising and what you need to know about the risks vs. the rewards.
Most of FranNet’s clients have never owned a business before, and they are attracted to the control and flexibility that independent business owners have. However, they are unsure of what kind of business or industry they should go in to. As Leslie says, FranNet is like match.com but for potential business owners. FranNet’s goal is to find the right business for each client’s skills, interests, and lifestyle goals. For many first time owners, a franchise that already has systems, and a business model behind it, can be a great first step into entrepreneurship.
Through skills assessments and one-on-one consulting, FranNet will not only help you decided what business to go into, but they will also help you navigate the ins and outs of getting started. This includes financing options, investments, and training.
A lot of clients believe that their only options for franchising are in the industry that they come from, but this is not always the case. General skills can more often than not, be parlayed into other fields with great success. Helping clients shift their thinking is part of Leslie’s education process.
FranNet also takes all of the franchises they work with through a thorough vetting process to determine their wherewithal as an organization. They need to make sure that their credibility and expertise meet their standard before they move forward with recommendations to their clientele.
Not all franchises are created equal, and FranNet focuses on the best of the best.