Which Franchise Model Is Right for Your Lifestyle?

Which Franchise Model Is Right for Your Lifestyle?

When you think about your ideal franchise opportunity, what do you envision? The beauty in selecting a franchise is that you can design it around your needs, preferences and values. If the choices seem overwhelming as you consider the many factors to narrow down your list, a basic question to ask is, “which franchise model is right for me and my lifestyle?” We explore the three main types of franchise models: Brick and mortar, home-based and mobile.

Brick and Mortar Franchises

Brick and mortar franchises are part of the everyday landscape for most. You’ll find them in malls or as free-standing buildings, mostly in the retail, food and restaurant, hotel or business services industries. This model is a good fit for a franchise owner who prefers having customers come to their business as opposed to models that require significant sales and marketing efforts.

Pros:

  • Walk-in traffic
  • Immediate exposure with signage and location
  • Option to run franchise passively with manager as you look for other investment opportunities
  • Can take advantage of economies of scale (marketing, inventory, staffing) if owning more than one location

Cons:

  • Significant capital is often needed
  • Heavy ramp-up and planning period to start business
  • Location selection key to success
  • More time needed to invest in running the business
  • May be difficult to reach new customers 

Home-Based Franchises

Many years ago, the brick and mortar model was the only option. With increased technology, this is no longer the case. In fact, the Small Business Administration reports that approximately 50% of small businesses are home-based. In the franchise arena, home-based businesses are mostly in the professional services industry and include accounting, digital and marketing, and consulting. This model is ideal for someone who can stay focused and wants to be actively involved in their business.

Pros:

  • Lower overhead costs with no location to maintain
  • Shorter ramp-up time to start
  • Convenience and comfort of working from home
  • Offers scalable business model – as clients increase, employees can be hired, and you can assume a more consultative role
  • Flexible schedule

Cons:

  • May be hard to separate professional and personal life
  • Defined territory may be limiting
  • Requires a special skill set and may not involve much human interaction

Mobile Franchises

A mobile franchise offers many of the same advantages as home-based franchises. Mobile franchises also have lower start-up costs, are easy to start and offer scheduling flexibility. By definition, a mobile business is one that operates out of a vehicle or provides a service at various customer locations in the community. They are ideal for franchise owners who enjoy working in the field and are technologically and digital marketing savvy to help acquire customers. Examples of mobile franchises include home repair and maintenance services, pet grooming and child or senior care at home.

Pros:

  • Not location dependent
  • Easier to deliver services to customers since you are delivering to them
  • Technology can be used efficiently with scheduling apps, point-of-sale systems and communication tools

Cons:

  • Do not benefit from walk-in traffic so a proactive marketing approach is needed
  • Other potential costs may arise such as buying gas, fixing vehicles, loss of time when traveling, etc.

A Franchise Model That Fits Your Lifestyle

When determining which franchise model is right for you, knowing how your business will fit into your lifestyle is key. Personality, company culture and the franchisor-franchisee relationship are also important considerations. Conduct due diligence, talk with franchise owners and get a sense of their typical week to make the best decision for you.

Does BirthdayPak Match Your Lifestyle?

BirthdayPak is a unique gift marketing program that connects restaurants and other local businesses to their ideal customer. It aligns most with the mobile franchise model as franchise owners network with decision makers at their respective businesses. However, making appointments and business operations can be performed at home or remotely. For more information on how BirthdayPak provides flexibility and sets franchise owners up for success, connect with us or call 888-680-7554.

BirthdayPak of Southwest Florida Announces New Owners

BirthdayPak of Southwest Florida Announces New Owners

BirthdayPak is thrilled to announce that the Southwest Florida market is now owned and operated by the newest BirthdayPak franchise owners, Todd and Licet Mulholland.  Todd and Licet have lived in the Naples area for more than 25 years and have been involved in numerous volunteer opportunities including the CCA FL STAR Fishing Tournament which gives away up to $100,000 in youth scholarships.

“We had been looking for a business and were seriously considering a franchise, mostly due the support and proven operating systems that they offered over just starting a business from scratch.  We had looked at various other franchises before BirthdayPak, but none of them seemed to be a good fit for us,” says Todd.  Prior to becoming a BirthdayPak franchise owner, Todd was investing in real estate and rehabbing properties with a partner, but he was looking for an opportunity that would allow him to interact with more people. 

We had put our search on hold and had kind of given up on a franchise, but then we heard about the BirthdayPak opportunity,” says Licet.  Licet has 15 years of experience as a project accountant in the construction industry.  “We are excited about the opportunity that BirthdayPak offers us to partner with local businesses and assist them in increasing their revenue while having fun doing it. We really like that we aren’t tied to a desk and have the ability to get out into our community, meet new people and form a true partnership with them that will be a win for both of us. The flexibility BirthdayPak offers us will allow us to attend our girls’ sporting and school events and continue our community involvement.”

BirthdayPak has grown significantly from a single market in southeastern PA to having multiple markets across the United States.  Since its inception in 2009, BirthdayPak has delivered more than 4.5 million “happy birthday” greetings in the mail.  This translates to nearly $360,000,000 in gift cards that have been sent to BirthdayPak recipients over the past 10 years!  That’s a significant amount of birthday gifts!

The BirthdayPak marketing platform drives birthday celebrations to participating upscale businesses, such as restaurants, day spas and boutiques, from their best potential customers.  The beautifully printed and mailed “birthday gift” features gift cards from this exclusive group of businesses in the community.  The women who receive BirthdayPak have discretionary income and are about to celebrate their birthday, a proven trigger for consumer spending.

More than just birthdays, BirthdayPak has sent millions of emails to recipients with high deliverability and open rates, keeping consumers engaged during the year and encouraging repeat visits to the participating businesses.  The BirthdayPak business model has a history of positive performance and extremely high client retention rates.  The above average response rates, and additional branding opportunities through a digital experience, provide a winning combination. 

BirthdayPak continues to expand nationwide through franchising and has been recognized by Entrepreneur magazine as the #1 franchise in Advertising Services category.  If you, or someone you know, has an interest in learning more about this exciting business opportunity, please visit www.BirthdayPakFranchise.com.

BirthdayPak Goes to Buffalo!

BirthdayPak Goes to Buffalo!

BirthdayPak recently announced that Vito Taverna has become owner of the BirthdayPak of Upstate New York franchise.  Vito is a seasoned business owner with more than 40 years of experience in marketing. 

“When I heard about the BirthdayPak franchise opportunity, I immediately loved the concept”, says Vito.  “This turnkey product is simple and fun. I look forward to helping the local businesses succeed while sending birthday gifts to the women in Buffalo.”  Vito has owned a video production business for many years and his plethora of connections have proven to be helpful.  Vito expects to launch his first BirthdayPak mailing early next year.

In the past 10 years, BirthdayPak has grown significantly from a single market in southeastern PA to having multiple markets across the United States.  Since its inception, BirthdayPak has delivered more than 4.5 million “happy birthday” greetings in the mail.  This translates to nearly $360,000,000 in gift cards that have been sent to BirthdayPak recipients over the past 10 years!  That’s a significant amount of birthday gifts!

The BirthdayPak marketing platform drives birthday celebrations to participating upscale businesses, such as restaurants, day spas and boutiques, from their best potential customers.  The beautifully printed and mailed “birthday gift” features gift cards from this exclusive group of businesses in the community.  The women who receive BirthdayPak have discretionary income and are about to celebrate their birthday, a proven trigger for consumer spending.

More than just birthdays, BirthdayPak has sent millions of emails to recipients with high deliverability and open rates, keeping consumers engaged during the year and encouraging repeat visits to the participating businesses.  The BirthdayPak business model has a history of positive performance and extremely high client retention rates.  The above average response rates, and additional branding opportunities through a digital experience, provide a winning combination.  BirthdayPak is expanding nationwide through franchising and has been recognized by Entrepreneur magazine as the #1 franchise in Advertising Services category for 2019.  If you, or someone you know, has an interest in learning more about this exciting business opportunity, please visit www.BirthdayPakFranchise.com.

If You’re Considering a Franchise Consultant, Here’s What to Look For

If You’re Considering a Franchise Consultant, Here’s What to Look For

For good reasons, entrepreneurs realize that there are many advantages to a proven franchise system, to be “in business for yourself and not by yourself.”  With hundreds of options to choose from, the process can be overwhelming and daunting. That’s where a franchise consultant can help. Working with a franchise consultant can be beneficial to prospective franchise owners by guiding them through the process, from discovery to selection, saving significant time and effort. Together with Bonnie Beinhorn, MBA, Certified Franchise Consultant at Franchise Finder Solutions, we discuss how consultants can provide value to their clients.

What Is the Role of a Franchise Consultant?

A franchise consultant, sometimes known as a franchise broker, helps streamline the process by being a “match-maker.” Consultants should not charge any fees to clients for their services.  They are compensated by the franchisor once a placement is made.  Franchise consultants do not “sell” franchises, rather they provide relevant information and guidance, and identify specific franchises that are aligned with their client’s goals, preferences and investment level, so the client can decide if there is enough interest to take the next step in exploring the opportunity.

Bonnie Beinhorn, Certified Franchise Consultant

The goals of the franchise consultant should be “to make the discovery and selection process efficient and enjoyable by taking away the confusion,” says Bonnie. A franchise consultant is most helpful by “presenting concepts and options that someone would not have likely found on their own and showing how they are a good fit.” According to Bonnie, “A consultant should be client-centered and not allow their own preferences and biases to affect their search.”

Franchise consultants can be helpful at every step of the process, as the client desires, usually until their agreement is signed with the franchisor. According to Bonnie, franchise consultants can “guide clients through Franchise Disclosure Document (FDD) review, validation calls with existing franchisees, and provide tools for assessment and referrals to funding sources and franchise attorneys.”

Qualities and Skills of an Effective Franchise Consultant

According to Bonnie, the most important quality of an effective franchise consultant is strong interpersonal and communication skills. This includes listening well and conveying information in a simplified way. Bonnie says that also having business experience, knowledge of franchising and federal/state/industry regulations adds value to the client discovery process.

To make an informed decision, having a diverse franchise portfolio is needed. This includes a breadth of business types and categories at every investment level. In addition to knowing the right questions to ask, a consultant should be able to search quickly for franchise opportunities that most align with your goals.

Questions to Ask Your Potential Franchise Consultant

When you decide to work with a franchise consultant, you’re looking for someone who has the expertise and skills to guide you through the major decision of buying a franchise. To determine if the franchise consultant is a good fit for you, some suggested questions to ask include:

  • What is your background and why did you choose to become a franchise consultant?
  • How long have you been a consultant?
  • Do you have any franchising experience?
  • Are you affiliated with any franchise consultant organizations?
  • How do you stay current with industry changes and trends?
  • What is your process to identify and present options?
  • After the introduction is made, how involved are you until the agreement is signed?
  • How available are you? Can you take calls in the evenings and on weekends?
  • If I prefer (texting/emailing/talking on the phone), can you accommodate?
  • What expectations do you have of your clients?
  • How many franchisors do you represent?

Next Steps in the Franchise Buying Process

“The more the consultant knows, the better the consultant can help determine opportunities to present that are a good fit” says Bonnie. The first step in the franchise  search process is to have a clear understanding of your goals, preferences and any ‘must-haves’ before reviewing specific franchises.  By asking the right questions, a consultant will learn about the type of business model you prefer, your skills and interests, desired territory and timeline. 

Bonnie concludes, “Remember that as the client, you have the option to choose who you want to work with. We are professionals who can bring knowledge and expertise to what is otherwise a very time consuming and overwhelming experience. Find someone who you connect with and let them get to work for you!”

To connect directly with Bonnie, she can be reached at bonnie@franfindsolutions.com or 800-418-0609. If you are a sales/marketing professional looking for a franchise ownership opportunity, learn more about BirthdayPak.  

Are Franchise Owners Entrepreneurs, Too? Yes…Here’s Why

Are Franchise Owners Entrepreneurs, Too? Yes…Here’s Why

When you think of an entrepreneur, what vision comes to mind? Is it of someone who developed an innovative idea and starts a business from the ground up? Owners of startups are clearly entrepreneurs, but what about franchise and small business owners? Apparently, some debate exists about whether franchise owners (in particular) fit the definition of an entrepreneur since they didn’t come up with the original business concept. While there are key differences between startup and franchise owners, we believe they share many more similarities – making them both entrepreneurs. We take some commonly-held beliefs about entrepreneurs and apply them to franchise owners.

Entrepreneur, Defined and Expanded

At BirthdayPak, we have a broader view of entrepreneurship, and believe all business and franchise owners are entrepreneurs. The dictionary definition of an entrepreneur is “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.” This precisely describes franchise owners. They manage all aspects of their business, from hiring and operations to sales and prospecting. Franchise owners have all of the characteristics of an entrepreneur, including passion, initiative and the willingness to take on risk.

Entrepreneurs Think About the Big Picture

Entrepreneurs have to manage the day-to-day aspects of the business, but they also have to think about the big picture. BirthdayPak franchise owners are encouraged to think about the larger organizational goals and their important contributions to them. They bring new ideas through collaboration and think long-term about the future direction of the company. At the franchise level, this may also mean opening new mailing zones, hiring staff and planning for the next day, week, month and year.

Entrepreneurs Take Risks – Or Do They?

Do you think franchise owners play it safe because they have a rulebook to follow and support? Franchising may be more of a calculated risk, but there is always some risk with any investment. And the risk may be greater with an emerging, less established franchise. Even if the franchise is well-known and operating with a proven model, building and growing a business comes with challenges and requires hard work. The opposite point also can be made – entrepreneurs are risk-adverse. Before starting a new venture, they fully understand the risk and potential returns and conduct thorough research and due diligence.

Entrepreneurs Are Passionate

This statement is 100% true of business owners, and BirthdayPak franchise owners are some of the most passionate people you’ll meet! They believe in the product, get excited about it, and this passion spills over to our business partners and communities. Their passion drives them forward – and adds to the persistence, collaboration and dedication needed to bring success.

Ready to Be an Entrepreneur?

Whatever your idea of an entrepreneur – did we describe you? If you’re always thinking about the next big idea, a goal-setter, dedicated and passionate, then entrepreneurship within a franchise system may be right for you. Start with the Top 10 Articles for Potential Franchise Owners and contact us to schedule an introductory phone call.