Ready to Start Your Own Business?

The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. you’ll need to start your own business.

This post will cover the last four types of Franchise Opportunities:  Retail, Services, Tech Businesses and Training.

A total of 16 Franchise Industries have been covered in the previous posts: April 19, 26, May 3 and May 14th.  In case you missed these blogs, the 16 franchise industries covered were:

• Automotive
• Business Services
• Children’s Businesses
• Financial Services
• Food
• Health Care
• Home Improvement
• Hotels & Motels
• Maintenance
• Personal Care
• Pet Businesses
• Recreation
• Retail
• Service
• Tech
• Training

As a potential business owner, review the industry categories carefully.  Remember, to succeed as an entrepreneur, you must have an unrelenting Passion for the industry cateogory you select.  If you don’t wake up everyday excited about starting the new day, you’re in the wrong business.

A close second to Passion is Patience.  Every business generally has three phases:  startup, breakeven and profitability.  Experts estimate that  it can take at least two to three years to travel the continuum from startup to making a profit. For non-franchise businesses, it could conceivably take even longer.

Select one or more categories that interest you, then gather tons of information.  This is the research/due diligence phase.  You can either search Google as follows:  (industry category) franchises – Example:  recreation franchises.  An equally effective research option is to visit a robust directory like www.franchisegator.com.

As we cover the final four franchise industry categories, you’ll note a significant overlap in the subcategories within the 16 industry categories.

Retail

Sub-categories for retail franchises include:

• Apparel & Accesories
• Art Stores
• Auto Products
• CD’s
• Childen’s Products
• Convenience Stores
• Cosmetics Stores
• Discount Stores
• Electronics Stores
• Eye-Care Centers
• Flower Stores
• Framing Stores
• Gifts
• Hardware
• Health Care Products
• Furniture Stores
• Newsstands
• Paper & Party Stores
• Personal Care Products
• Pet Products
• Pharmacies
• Sport Businesses
• Tech Products
• Video Stores
• Water Businesses
• Vitamins

Service Businesses

Subcategories for Service Businesses include:

• Accounting Services
• Advertising Services
• Auto Services
• Building Services
• Boat Services
• Bridal Services
• Business Services
• Car Rental Agencies
• Children’s Services
• Check Cashing Services
• Dry Clean & Laundry Services
• Educational Services
• Environmental Services
• Eye Care Centers
• Financial Services
• Fitness Center
• Hair Salons
• Health Care Services
• Home Improvement Services
• Home Inspection Services
• Lawn Care & Landscaping
• Maintenance Services
• Moving Services
• Party/Event Services
• Personal Care Services
• Pet Care Services
• Photography Services
• Plant Maintenance Services
• Postal & Business Center
• Printing Services
• Property Inspection
• Real Estate Services
• Sports/Recreation Businesses
• Repair Services
• Security Services
• Senior Care
• Shipping Services
• Sign Stores
• Staffing Services
• Tax Services
• Tech Services
• Travel Agencies
• Training Businesses
• Videotaping Services
• Weight Control Centers
• Water Delivery Services

Tech Businesses

• Internet Businesses
• Tech Training
• Miscellaneous Tech Businesses

Training

• Managemnet Training
• Modeling Schools
• Tech Training

Next Post:  Top 10 Franchise Lists

Ready to Start Your Own Business?

The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. you’ll need to start your own business.

This post will cover four types of Franchise Opportunities:  Maintenance, Personal Care, Pet Care and Recreation.

Maintenance

The subcategories for Maintenance franchises are:

• Air-Quality Services
• Asphalt Maintenance
• Carpet, Upholstery & Drapery Services
• Commericial/Residential Cleaning
• Restoration Services
• Restroom Hygiene Services
• Vinyl Repair
• Window Cleaning
• Miscellaneous Maintenance Products & Services
• Duct Maintenance
• Grout Repair

Unlike essental maintenance services like plumbing and electrical, the maintenance services listed above are non-essential, routine maintenance services.  Your customers can be either commercial or residential, or both.   Obviously, you need to be good with your hands and enjoy fixing things.  Demand will always be steady because many homeowners and businesses don’t have either the skills or the time to keep up with routine maintenance.

Bonus:  most maintenance services are home-based businesses which means you can avoid the high fees of leasing and maintaining a retail space.

Personal Care

• Cosmetics Stores
• Fitness Centers
• Hair Care
• Modeling Schools
• Senior Care
• Tanning Salons
• Massage Services

Sometimes referred to as the health and beauty industry, personal care services focus on taking care of your customers’ bodies, i.e., fitness, massages, elder care, cosmetics, hair and tanning. Demand is high especially from the aging population who want to feel and look better.  In-home personal care is also a high growth area because seniors want to stay independent and in their homes for as long as possible.

Pet Care

If you want to parlay your love of animals with starting your own business, a variety of pet care franchise opportunities await you — in-home pet sitting and walking, pet boarding/lodging, pet grooming, training.  Also if you have the financial resources, you may want to consider opening a retail pet store.

As a pet care franchisee, your target audience is significant.  There are 77.5 million pet dogs in the U.S. and 93.6 million cats.*

*Source:  American Pet Products Manufacturers’ Association, 2009-2010 National Pet Owners Survey

Recreation

Subcategories:

• Campgrounds
• Children’s Fitness Programs
• Fitness Centers
• Sports Equipment & Apparel
• Recreational Rentals
• Sports Teams
• Cruise Ship Travel
• Miscellaneous Travel & Recreation

Pick a sport or recreation activity that you’ve always loved.  Chances are there’s a franchise opportunity for you to consider.  And, as a recreational or sports franchisee –will you actually be working or playing everyday?  Opportunites run the gamut from  a personal training studio, a home-based personal trainer, dance studio, sporting goods and apparel storefront to a golf training franchise, sports award and trophies business or a flip flops and sandals store.

Next posting:  Which Franchise is Right for You? part 4

Ready to Start Your Own Business?

The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. you’ll need to start your own business.

This post will cover four types of Franchise Opportunities:  Food, Healthcare, Home Improvement and Hotels/Motels.

Food

Subcategories:

• Food/Quick-Service
• Full-Service Restaurant
• Retail Food Sales

As every American knows, the choices available for “out-of-home” meals are virtually endless whether it be breakfast, lunch, dinner or snacking.

The Quick-Service Category includes:

Full-Service restaurants include:

• Barbecue Restaurants
• Burger Restaurants
• Family Restaurants
• Mexican Restaurants
• Seafood Restaurants
• Steakhouses
• Miscellaneous Full-Service Restaurants
• Italian Restaurants
• Pubs

Retail Food Sales include:

The start-up costs for the majority of food franchises range between low six figures to one million dollars and above.  If you have considerable liquid assets and/or one or more partners, a food franchise is a good bet because the failure rate, especially well-known brand names, is quite low.  As mentioned in previous posts, the franchisor will do anything and everything to help you succeed since they will be receiving a percentage of your sales as long as the franchise agreement is in effect.

As an example of the high start-up costs of food franchises, we looked at the Top 100 Low-Cost Franchises according to Entrepreneur Magazine.  Only one food franchise made the list — Chesters International.

Healthcare

Subcategories:

• Eye-Glass Centers
• Vitamin Stores
• Weight Control Centers

Unless you’ve just arrived from another planet, you know that healthcare is the fastest growing industry in the U.S.  now and for many years into the future.

According to the Bureau of Labor Statistics, U.S. Department of Labor, Career Guide to Industries, 2010-11 Edition, healthcare will generate 3.2 million new wage and salary jobs between 2008 and 2018, more than any other industry, largely in response to rapid growth in the elderly population. Ten of the twenty fastest growing occupations are related to healthcare.

Below are five healthcare franchises with start-up costs at $60,000 or less:

• The Dentist’s Choice – dental handpiece repairs
• Hays Handpiece Franchises, Inc. – dental handpiece repairs
• EMed-ID – healthcare products and services
• Hungry Heart Franchise LLC – nutritional counseling and hypnotherapy
• Safety Watch, Inc. – first aid/emergency products and training

Home Improvement

Subcategories:

• Building & Remodeling
• Cabinet Refacing/Remodeling
• Closet Systems
• Decorating Services
• Furniture Stores
• Furniture Restoration
• Home Repairs
• Insurance Restoration Services
• Lawncare & Landscaping
• Maintenance Services
• Painting
• Property Inspection Services
• Remodeling Services
• Surface Refinishing & Restoration
• Window & Floor Coverings
• Window & Screen Repair

If you don’t mind getting dirty and you’re good with your hands, Home Improvement is in good demand.  The downside is you’ll have lots of competition.  A franchise could be the answer since you’ll get a recognizable brand identity, valuable training in business operations and systems and, most importantly, marketing and sales knowledge and skills.  The latter is vitally important, because most franchisors don’t provide their franchisees with leads.  However, they do train you in the most cost-effective and targeted methods for getting leads and then closing the sale.

Hotels & Motels

This is a category for the not necessarily famous, but definitely the rich.  The start-up costs on the low end are about $393,000 for Baymont Inn & Suites to the high end of $93 million for Intercontinental Hotels Group.

Next Post:  Franchising: Which Industry is Right for You, part 3.

Ready to Start Your Own Business?

The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. you’ll need to start your own business.

In the April 19 post, we talked about the importance of starting a franchise business in an industry that excites, energizes and challenges you.  There are 16 categories or industries where you can find the right franchise opportunity that meets your interests, skills and desired level of investment.

 

• Automotive
• Business Services
• Children’s Businesses
• Financial Services
• Food
• Health Care
• Home Improvement
• Hotels & Motels
• Maintenance
• Personal Care
• Pet Businesses
• Recreation
• Retail
• Service
• Tech
• Training

AUTOMOTIVE  Franchising was covered in our April 19th post.  This post will discuss three more Franchising industry sectors: Business Services, Children’s Businesses and Financial Services.

BUSINESS SERVICES

Below are subcategories of Business Services:

• Accounting & Tax Services
• Advertising Services
• Business Brokerage
• Business Financial Services
• Business Support Center
• Consulting Services
• Management Training Programs
• Shipping Services
• Signs
• Staffing Services
• Business Training

Business service franchises are perfect for people who have great organizational skills, typing skills, math skills, teaching skills or sales skills. Many of these businesses require strong one-to-one interaction, so good people skills and a positive attitude are a definite plus.

 

CHILDREN’S BUSINESSES

Subcategories:

• Child Care
• Education Programs
• Fitness Programs

If you love working with children, have lots of patience, good teaching skills or are good at athletics, these businesses can provide an enjoyable and rewarding career.

FINANCIAL SERVICES

 (some of the sub-categories below overlap with Business Services)

• Accounting  Services
• Business Financial Services
• Check-Cashing Services
• Tax Services

Good financial and people skills are needed for these franchises. You must be comfortable interacting with people. You will also need to be complete and accurate in your work.

 

Once you’ve found the category that interests you, an excellent research tool is www.franchisegator.com

 

Suggested Reading:*

 

 

 

*HAP makes a commission from the book seller.

 

Some of the information in this post is excerpted from www.entrepreneur.com

 

Next Post:  More Franchising Industries

Ready to Start Your Own Business?

The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. you’ll need to start your own business.

 

OK, you’ve decided you’d like to do further research on Starting Your Own Business by joining the world of Franchising.  It’s critical at this early stage to first find an industry that closely matches your interests.  You will need to be energetic, excited and enthusiastic about your business because you’ll work very hard — perhaps 60-70 hours at the launch stage.  Don’t select an industry just because the track record has been impressive and the forecast is for high growth.  If you wake up dreading to start the day, you’re in the wrong business.

Below is a list of franchise categories (industries):

• Automotive
• Business Services
• Children’s Businesses
• Financial Services
• Food
• Health Care
• Home Improvement
• Hotels & Motels
• Maintenance
• Personal Care
• Pet Businesses
• Recreation
• Retail
• Service
• Tech
• Training

I’ll go into greater detail about each of these categories in the next few posts.

 Here’s information on the first category — Automotive

 AUTOMOTIVE

Below are sub-categories of Automotive Franchise Businesses:

• Appearance Services
• Brake Repair
• Car Washes
• Mobile Auto Services
• Oil-Change Services
• Rentals & Sales
• Repair Services
• Transmission Repair
• Vinyl Repair
• Windshield Repair
• Miscellaneous Auto Products
• Miscellaneous Auto Services
• Tune-up Services

The financial requirements will vary greatly depending on which phase of the automobile business you wish to enter.  Obviously it will take significantly more capital to purchase a repair business with all the expensive diagnostic tools, and lifts required to operate that business, than it will to purchase a auto detailing or windshield repair franchise.

To learn more about Automotive Franchising visit: http://www.automotivefranchise.com/

 

Suggested Reading:

 

*HAP receives a commission from the book seller.

Some of the information in this post is excerpted from www.entrepreneur.com

 

Next Post:  More Franchising Industries

 

 

 

 

 

 

Ready to Start Your Own Business?

The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. you’ll need to start your own business.

In the previous post (April 5), we discussed two reasons to consider Franchising.  This post will cover the other two reasons to consider Franchising.

3.  As a franchisee, you’ll get ongoing support from the franchisor and fellow franchisees.  Support begins  day one after signing the franchise agreement.  As a franchisee, you’ll be well trained in all aspects of running a successful unit — marketing, accounting, operations, human resources…and more.  Depending on the franchisor, training programs are usually required for new franchisees and can run from a week to four weeks.

Marketing is arguably the most important component of starting a new business.  If no one knows about your business, how can you possibly be successful.  That’s why most franchisors are deeply committed to national and regional advertising programs to keep their brand “top of mind” with your potential customers.  Remember, the franchisor wants you to be successful because the success and growth of any franchisor comes from collecting a steady flow of  royalty fees.

There’s also a strong trend of  formal and informal sharing among local and regional franchisees as they seek to learn from the ups and downs of their colleagues.

4.  Your chance of success increases dramatically as a franchisee. During the recent Great Recession, consumer spending decreased dramatically.  During uncertain times, consumers will purchase from a recognizable name; they want the comfort of doing business with a brand they know.   In a recession, a franchise has a greater chance of staying in business than an independent business.

Additionally, you’ll have the continuous support of the franchisor during difficult economic times.  They have had experience in both boom and bust economies; they know how to survive and will support you in both good times and bad.  They have a strong incentive in ensuring your longevity — collecting royalty fees.

Suggested Reading:*

*HAP receives a commission from the book seller.

Next Post:  Which Franchise is Right for You?

 Ready to Start Your Own Business?

The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. you’ll need to start your own business.

 

In the next several posts, I’m planning to discuss three diverse paths to Becoming Your Own Boss:

1)  Franchising

2)  Business Opportunities

3)  Independent Startup

 

In these still uncertain times, you want to take as little risk as possible.  For many wanna-be entrepreneurs,  franchising is a good bet because there are many advantages to becoming a franchisee.

However, if you’re the type of person who insists on maintaining total independence in every aspect of your business, franchising is most likely not for you.  Why?  Because, as a franchisee, you can become your own boss — sort of.   “Sort of” means that once you sign a franchise agreement, you must adhere to a franchisor’s mandatory rules to their business model — rules, regulations, systems and procedures.

Additionally, you will be paying the franchisor an ongoing royalty on sales.

If either of these non-negotiable factors don’t sit well with you, franchising is probably not a viable option for you.

 

Here are two of the four reasons you should seriously consider franchising  — now that you’ve decided it’s finally time to stop working for others and become your own boss.

 

1.  Successful Franchisors have a proven business model. Think of a franchise as a turn-key business.  Over time, the franchisor has learned from successes and setbacks, taken the risks ultimately leading to a stronger, more predictable business model.  ”Best practices” of the industry are in place along with effective marketing strategies, site selection, preferred vendor list, inventory systems, customized software — to name just a few.

 

2.  Franchisors provide financing assistance either directly or indirectly.  Business lending may have loosened up — but only slightly.  If you need financial help with the franchise fee, many franchisors either offer in-house financing or have long-standing relationships with lenders.   Also, the Small Business Association (SBA) looks upon franchise loans more favorably than an independent business start-up.

Check out the SBA’s Franchise Registry http://www.franchiseregistry.com/.  Franchises on this list have been pre-approved, which makes the loan application process smoother.

 

 Suggested Reading:*

 

 

 

 

*HAP receives a commision from the book seller.

 

Next Post:

Reason 3:  Franchisees Get Ongoing Support

Reason 4:  Brand Recognition = Higher Chance of Success!

 

READY TO START YR OWN BUSINESS?

Learn 8 personal qualities needed to become

successful entrepreneur.

http://helpamericaspeople.com/WP/

 

Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

The 8 Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work-Personal Life Balance

 

8. Work/Personal Life Balance

There are seven basic facets to your life, my life and every individual’s life:

• Family
• Friends
• Physical Health
• Mental Health
• Spirituality
• Financial
• Career

How you find the appropriate balance of each of these aspects is a personal decision.  Just be certain that you are committed to addressing each of these before you set out on your challenging and demanding, albeit personally rewarding adventure – Starting Your Own Business!

Suggested Reading: Work-Life Balance for Dummies – $18.25

 A Final Thought

Many believe that luck plays a big part in business success.  Here’s what a famous American statesman and a successful golf pro had to say about luck:

 “Diligence is the mother of good luck.” – Benjamin Franklin

“The harder I work, the luckier I get.” – Gary Player

READY TO START YR OWN BUSINESS?

Learn 8 personal qualities needed to become

successful entrepreneur.

http://helpamericaspeople.com/WP/

Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

 The 8 Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work/ Life Balance

7. Planning

A vital step on the path to becoming your own boss is to develop a business plan.  If you’re groaning at the thought of the ominous task ahead, you should know that many successful business plans have numbered fewer than 10 pages. 

 If you have a good idea, the pieces will fit together into a sustainable business model.  The quality (creative, innovative) of the idea is the operative word, not the number of words in the business plan.

 Think of your Business Plan as a Roadmap.  Would you take a trip without a roadmap or your GPS?   If you don’t have a Business Plan, you don’t have goals, timelines and budgets.  You may have a final destination – Success – but, without a business plan you have no roadmap to get there.

Below are a few tips to follow when developing the most important element of your Business Plan:  the Marketing Plan.  I strongly recommend that you spend the most time on your Marketing Plan. 

•  Set specific marketing goals and timelines
• Know your target audience (s) thoroughly
• Research and select cost-effective media vehicles to meet your goals, i.e., e-mail marketing, search engine marketing, direct mail, advertising, special events, public relations, trade shows, and more.
• Set the budget to meet your goals
• Monitor results and make adjustments

 Doing your homework, which includes extensive research and due diligence, is a prerequisite of creating your business plan.  Just don’t forget (as discussed  in Timing), you will need to effectively move from the Knowing stage to the Doing stage.  Action-oriented individuals trump dreamers every time. 

 Suggested Reading*:  Awakening the Entrepreneur Within: How Ordinary
People Can Create Extraordinary Companies – $18.96

The Business Start-up Toolkit – $30.36

*HAP receives a small commission from the book seller.

Next Post: Balance Your Work & Personal Lives

READY TO START YR OWN BUSINESS?

Learn 8 personal qualities needed to become

successful entrepreneur.

http://helpamericaspeople.com/WP/

 

Now’s the Time to Become Your Own Boss
The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. about starting your own business.

 The 8 Personal Characteristics You Need to Succeed as an Entrepreneur

1. Passion
2. Perseverance
3. Patience
4. Flexibility
5. Timing
6. Decisiveness
7. Planning
8. Work/ Life Balance

6. Decisiveness

You’ve always wanted to take control of your life and be your own boss.  As a business owner, after careful research and deliberation, you will be making decisions virtually every day.  When it’s time to make a decision, you may initially ask yourself, “Am I making the right decision?”   

 Instead of freezing with indecision, you will need to decide whether to turn left or right.   If you’ve made the wrong decision, use this information as a steppingstone to the next decision.  View the decisions you need to make as challenges rather than obstacles. 

 To make decisions, you need self-confidence.  (Never confuse self-confidence with arrogance and cockiness)  Believe in yourself  –  that you have a singleness of purpose, laser-like focus and the ability and skills to succeed. 

 Be crystal clear that not even the greatest intellects in the world know everything. Admit your shortcomings and reach out to the professionals to Build Your Virtual Team:  a lawyer for legal issues and regulations, a network engineer or web developer for technical operations, a CPA for financial advice , an experienced marketer, sales professional…to name just a few. 

 While working with experts in their fields, also consider taking classes to expand your knowledge.  There are a multitude of resources, many of them free and online.  Check out the following invaluable website for a wealth of free training:  http://www.sba.gov/training/index.html

 Suggested Reading*:  Awakening the Entrepreneur Within: How Ordinary
People Can Create Extraordinary Companies – $18.96

The Business Start-up Toolkit – $30.36

*HAP receives a small commission from the book seller.

Next Post: Success Starts with a Plan.