The Franchise King Blog

Running a franchise with technology

Investing in and running a franchise operation is certainly not easy, but technology does enable one to oversee things better.
Items like closed circuit camera's that can be set up to be viewed on your home computer, can help you watch your cash registers etc.
Do you not know anything about how to set-up and monitor your franchise operation's payroll?
There is software that is  provided by almost every major {and some minor} franchise companies to help you.
The Wall Street Journal did a nice story about the marriage of technology and franchise operational efficiency.
Cool stuff. I just matched a local gentleman to one of the opportunities mentioned in the article. Opening soon!
If you or anyone you know is thinking about keeping their job, and starting a franchise business, there are a couple of legitimate opportunities out there. I have helped a few local area residents with that business model. For some of you, starting a new business while you still have your job could be a great way to start building equity and a safety valve at the same time.
Proactive approach, eh?

Short Blogging Holiday

I will be taking a hiatus from daily blogging for a little while, as I mourn and process the passing of my Father, on Saturday.
He started our little franchise consulting business in Cleveland, and was very well known.
It is an honor and a privilege to keep the business in the family.
Here is an online link to the Cleveland Plain Dealer obit/guest book.
Thank you!
Joel Libava and family

If owning a franchise was so easy......

Everyone would be a franchise owner! The majority of potential franchise buyers I consult with do not end up purchasing a franchise. The reasons include:

•  They received a great job offer

•  Have a fear of losing money

•  Fear not producing income rapidly enough

•  Can't get excited about any of the opportunities presented

•  Their spouse or significant other is not "on board"

•  They feel that there are too many restrictions in the franchise
  

All of the reasons above are valid, and I discuss these with my candidates before we even meet face to face.

Let's discuss these one by one....

Lorain Economic Development

Shelly Prueter, a local restaurant consultant, and Annarya Casino, aka Chef Nonni, have just opened an interesting little concession stand at the Spitzer Lakeside Marina.  Named Capn Eddy's, after her late father, Eddie Solomon, "Skipper" of the famous McGarvey's Restaurant for 42 years, this cool venture will feature local Ohio products.
For the boaters, there will be dockside call ahead orders {440-288-3399}. Great summer eats like stadium hot dogs, fresh pies,ice cream, and warm and cold beverages will be available for those who go out early in the morning. Boaters can cruise in for picnic lunches, or even bait.
Shelly, who has been involved with Enterprise Development at Lorain County Community College, and other local
pro-NEO gigs, is really excited about this venture. In addition, she will do her restaurant consulting activities, which she is very well known for. {Ravereviews.info}Look for Shelly to get involved with franchised restaurant start-ups in the near future,which will keep her plate full!
Go to Capneddys.com for more info...   

Franchise Personalities

When I receive a referral concerning a local resident who wants to explore franchising options for Northeast Ohio, I usually get asked what franchises are "hot". The "hot" ones are the ones I do not wish to work with.
This may sound contrary to conventional wisdom, but I feel that what may be "hot" currently, may be "cold" in the near future.
I work with a select group of franchise companies, and most of them are what I call "steady eddies". Another words,  I believe that the simplest and more basic franchise options are always in need, and always poised for steady growth.
Which ones, specifically? Here is where the "personality" factor comes in, and will help me decide which one or ones to match my candidates to.
So, if one really wants to know which specific franchise concepts are in my stable of opportunities, the answers won't come at the beginning of the process.
The specific suggestions will come after a candidate of mine fills out a questionnaire, and then, and only then, after an in-person, face to face meeting at my Chagrin Blvd. office location.
My candidates have told me that the recommendations sometime surprise them, but they trust the process, and they trust me. They want to control their own professional and personal destiny.
I want to help Northeast Ohio grow by adding new businesses and new jobs. Possible win-win scenarios always
exist in those circumstances.
Marshall Reddy, my friend and associate, talks about the "personality" part in an article posted yesterday, in a Jacksonville Florida, newspaper.