What Does It Mean to Have a Proven Business Model?

What Does It Mean to Have a Proven Business Model?

When you invest in a franchise, you’re investing in a “proven business model.” But what exactly does that mean, and does every franchise have it? Can it be assumed that a well-established franchise has a proven business model? It’s not always that simple, and not all franchises are created equal. We examine the elements that form a proven business model and set franchise owners up for their best chance at success.

Proven Track Record with Years of Growth and Success

A franchise with a proven business model has a business plan that has been proven time and again. The franchisor can show years of growth and the potential of your investment. Having years of experience typically means the franchise has worked out any kinks in the system so that you can replicate the success as quickly as possible. Much of this information will be revealed during the due diligence process and is available in the Franchise Disclosure Document.

Brand Success and Recognition

A strong brand presence and recognition as an industry leader is a characteristic of a franchise with a proven business model. This status is typically attached to established franchises and can bring customers and profits more quickly. But younger, emerging franchises should not be discounted in this area. If the emerging franchise has strong brand guidelines, a customer-centric approach and differentiates themselves well from the competition, they could be a strong brand in the making. 

A Plan and Goals for a Sustainable Future

A vision, plan and goals keep a franchise focused so they can see ever greater success in the future. They have a comprehensive business and marketing plan, complete with a system and tools. This allows the franchise to keep all involved focused and accountable to execute on the goals and fulfill the vision. Successful franchises ensure that relevant information is communicated on a consistent basis, typically weekly, monthly or quarterly. After all, change is constant, and franchises have to be responsive and goals tweaked to stay current.

Comprehensive Training and Support

One thing is for certain: A franchise with a proven business model must be committed to support. Support can include materials, onboarding and training, and ongoing guidance. A knowledgeable corporate staff that is responsive and provides answers quickly is essential. A franchise with a proven system has that next level of support to depend on when challenging situations arise. It has the infrastructure in place to set goals, create plans and develop strategies with franchise owners.

A Positive Company Culture

While growth and success are the tangible outcome of a proven business model, the franchise’s culture is the all-important “behind the scenes” element. A positive company culture develops the brand and lays the foundation for the franchisor-franchisee relationship. When values and beliefs align, commitment to the goals takes hold and success begins.

Looking for a Franchise with a Proven Business Model? You’ve Found One!

BirthdayPak not only has a proven business model, but a unique one! We send one million birthday wishes annually to women across the country through a one-of a kind gifting program. In turn, local businesses see increased sales with new and repeat business. This franchise opportunity opens up a path to success for franchise owners.

BirthdayPak has a proven business model and is available for expansion in these high-potential markets. We’re looking for sales-driven entrepreneurs who are passionate and ready to partner with us for success. For more information, contact us at 1-888-680-7554 or schedule a call.

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.  

Looking for an Exciting Franchise Opportunity in the Midwest? Consider this BirthdayPak Hot Spot!

Looking for an Exciting Franchise Opportunity in the Midwest? Consider this BirthdayPak Hot Spot!

What do these three things have in common: Rock ‘n’ Roll, LeBron James and Lake Erie? If you guessed Cleveland, you’re right! While Cleveland is all of these things, it’s so much more. It’s a city reinventing itself and a great place to start a business. Cleveland is a culinary mecca with a rising food scene. And soon, it will be home to the BirthdayPak gifting program that brings together local, upscale businesses with their best customers. See why Cleveland is an ideal hot spot that will place BirthdayPak on the map.

Cleveland: From Rustbelt City to Resurgence

After decades as a rustbelt city, Cleveland is on the cusp of a resurgence. The area is booming as new businesses and industries thrive and it’s attracting young professionals. In fact, Cleveland ranks among the top 10 cities with a dramatic increase in college-educated millennial residents. And from 2011-2015, $8 billion was invested in new development.

Cleveland prides itself on a distinct history of manufacturing and the innovation that has sprung from it. The economy of the Cleveland metropolitan area is diverse, with industries including healthcare, banking, finance, education, insurance, and technology. In fact, 8 Fortune 1000 companies are headquartered in Cleveland. As a major city, Cleveland is the second largest metro area in Ohio and 33rd most populous in the United States with more than 2 million residents.

A Great American Food City

Cleveland’s diversity is reflected in its art, culture and, of course, food. While well-known for polish cuisine, Cleveland also rivals the best for ethnic, trendy and upscale restaurants. Iron Chef Michael Symon, who hails from Cleveland, and other prominent chefs, catapulted the city into the culinary limelight. Accolades include being ranked by TIME as the 7th best food city in the country. Travel + Leisure readers also ranked Cleveland 7th out of 20 in a listing of America’s Best Cities for Foodies in 2015.

Restaurants Contribute to the Ohio, Cleveland Metro Economies

What impact do restaurants have on the local economy? Consider these statistics for the state of Ohio: More than 22,500 eating and drinking establishments had estimated sales of $24.2 billion in 2018. Restaurant and food service jobs amount to 10% of employment with 585,000 jobs in 2019. That’s expected to grow by 9.1% by 2029. With Cleveland as a major metro area and culinary center in Ohio, this industry in particular is a boon to the local economy.

Why Invest in a BirthdayPak Franchise in Cleveland?

It’s clear – Cleveland’s strong economy provides a solid foundation for a business to grow and thrive. The city’s nationally-acclaimed food scene is hot. This combined with a proven model at BirthdayPak provide you with the skills and flexibility to launch your business. Want to learn more about this exciting, high-potential franchise opportunity in Cleveland, Ohio? Start with these 10 articles and contact us to take the next step to your new career.

What Makes a Strong Franchise Brand?

What Makes a Strong Franchise Brand?

Many factors can give insight into the strength of a franchise: Number of locations, good financials and how much it’s grown. But one of the most important components of a strong franchise is sometimes overlooked: The brand. It says everything about the customer experience and how the franchise is perceived. A strong brand is a good indication of happy customers and franchise owners. If the brand is widely recognized, it creates trust and loyalty. And when a franchise is recognized by external organizations, it’s further validation of a strong brand. We look at what makes BirthdayPak an award-winning franchise and how excellent support elevates a brand.

Recognition as a Top Franchising Option

BirthdayPak has been consistently recognized as a top franchising option. While we are honored, we know it’s a team effort. With multiple franchises open across the United States, our franchise owners help make the BirthdayPak brand what it is today. The continued trust in our gifting platform builds from our one million annual BirthdayPak recipients and hundreds of business partners! Over the last year, we have been awarded with these prestigious franchising honors:

“Best of the Best” in Entrepreneur Magazine’s Franchise 500®: This listing is one of the most competitive rankings and an invaluable resource for potential franchise owners. BirthdayPak is proud to be #183 on the list and named #1 Franchise in the Advertising Services category for outstanding performance in areas including unit growth, financial strength and stability, and brand power.

Entrepreneur Magazine’s Top New Franchise and Top New Brand: For the third consecutive year, BirthdayPak has been recognized as a Top New Franchise! In addition, BirthdayPak has moved up the list to #5 out of 100 Best Newbies, being recognized as one of the strongest brands that have franchised for five years or less.

Franchise Dictionary Magazine’s Top 100 Game Changer: This recognition celebrates brands that are making a difference. To be considered among hundreds of franchise businesses, a franchise had to meet the following criteria:

  • Fill a niche in the market
  • Raise the bar on service
  • Help the community
  • Create opportunity for aspiring business owners
  • Turn heads with a unique product

FranchiseHelp’s 2019 Franchise Awards: BirthdayPak recently ranked #5 out of 20 in the first ever top 20 franchise rankings presented by FranchiseHelp.  In addition, BirthdayPak won a silver award for fastest growing franchise and a bronze award for top-performing emerging franchise. 

Support Behind a Strong Franchise Brand

While awards and accolades are reassuring, you should also look for a franchise that has a strong support system. An excellent support system contributes to trust that underpins a strong brand. Franchise owners have faith that the franchisor will provide them with the tools, resources and support to run their business well.

BirthdayPak provides top notch support, and this sets us apart from other franchise brands. Every new owner has training at the corporate office in Springfield, Pennsylvania and onsite training in your franchise territory. We also provide continual support once your franchise is up and running. In addition, our community of franchise owners rely on each other for advice and guidance.

Invest in a Strong Franchise Brand

A strong brand is an important element when buying a franchise. It signals a good reputation and is typically more established, reducing some of the risk of franchise ownership. However, a due diligence process is key when considering franchise options.

At BirthdayPak, we’re looking for franchise owners in these available markets to help us achieve even greater success, together! For more information, contact us.

The Newest BirthdayPak Franchise Hot Spot: Chicago!

The Newest BirthdayPak Franchise Hot Spot: Chicago!

Chicago truly has it all! It’s easy to see why so many are drawn to the area with world-class dining experiences, culture and history, and a strong economy – to name a few. Just as Chicago is perfectly positioned on the shores of Lake Michigan, it is also a perfect location for a BirthdayPak franchise! Chicago is filled with local upscale businesses that are looking for a unique way to connect with their best customers. And the BirthdayPak gifting program is ready to deliver! Are you a sales-focused entrepreneur looking for a high-potential franchise opportunity in Chicago? Learn how Chicago has everything needed for a successful BirthdayPak franchise.

Chicago: A Great Place to Live and Work

Chicago is home to 9.5 million people, making it the third largest metro area in the U.S. The median household income was $68,403 in 2017, more than $8,000 greater than the U.S. median household income. And of the 100 richest towns in the U.S., 11 in the Chicago area made the list. As BirthdayPak markets are prime in densely populated areas with affluent women, the Windy City checks all of our boxes.

Chicago also has a thriving business community. More than 400 major corporations have headquarters in Chicago, including 36 in the Fortune 500. A diverse number of industries make up the job market, including finance and business sectors, engineering, healthcare, government, pharmaceuticals and transportation. Chicago’s economy is so strong, it’s equivalent to the 20th largest world economy, just ahead of the economic output of Switzerland.

An Internationally-Renowned Culinary Scene

Chicago is so much more than hot dogs and deep-dish pizza. The city is not just a standout in the nation – it has also received the world’s attention with Michelin-starred and James Beard award-winning restaurants. The accolades have stacked up to make it one of the best food cities in the country. In 2017, Bon Appétit named Chicago its Restaurant City of the Year and Condé Nast Traveler’s Reader’s Choice Awards ranked it #1 city of the year, largely due its food scene. Chicago has been host city to the annual James Beard awards ceremony, which will continue through 2027. These are just a few reasons Chicago ranked #3 in Zagat’s 30 Most Exciting Food Cities in America.

Restaurants Boost the Illinois, Chicago Metro Economies

When it comes to industries that have a significant impact on the economy, we can’t forget about the restaurant industry. Illinois has more than 25,000 eating and drinking establishments that brought in estimated sales of $18.1 billion in 2018. And nearly 600,000 food service jobs make up 10% of employment in the state. That’s expected to grow 7.7% by 2029. The majority of these numbers can be attributed back to the Chicago metro area, which comprises approximately 75% of the Illinois population.

A BirthdayPak Franchise Opportunity and Chicago: Perfect Together

Chicago really does have it all, especially for a BirthdayPak franchise. A strong economy, great food scene for BirthdayPak recipients to experience and business partners that can cultivate their most loyal customers. Now we’re looking for a franchise owner who is a good fit for BirthdayPak and can bring this top-notch gifting program to Chicago! For more information, start with these top 10 articles and get a peek into the life of a franchise owner. Connect with us to start the conversation and your new career path!