Posts tagged ‘franchise’

April 7th, 2011

What are my options?

by AskSage

Sage,

I’m a 53-year-old Sales & Marketing Executive, cannot find a job in my area and prefer not to relocate. What are my options?

I look forward to hearing from you.

Mike

 

Dear Mike,

OK, let’s first understand your challenges, and then discuss your options:

Your  Challenges:

–       It sounds like you are living in an area where the demand for execs with your skill set is low(er).

–       Given that you are 53 years old you will compete with younger (and less expensive) peers for the same positions, which will most likely lead to age discrimination.

–       The job market for senior-level execs in general can only be described as catastrophic (un- and underemployment of 42%+).

–       The longer your search takes, the more of your own capital you lose.

 

Your Options:

–       Start your own business (just make sure it isn’t consulting, this is what everybody does)

–       Buy someone else’s business (2.5 Million businesses change hands in the U.S. every year and sell typically at 4 to 8 times EBITDA)

–       Become a partner in a business

–       Consider franchising (chose from approximately 2,500+ different franchise systems in the U.S, plus roughly the same in Europe and Asia)

–       Determine if perhaps licensing and/or distributorship is for you. There are thousands to choose from as well.

Discuss with your spouse if she is ‘on board’ with your decision to do something on your own. This is a point that’s very important, because very often spouses don’t understand how bad the job market really is and therefore prefer their partners to ‘keep looking’. Unfortunately this results in burning through their savings –with nothing to show for it- and often end up with little to nothing left to invest into their own future (I call it ‘the point of no return’ and have seen it (too) many times).

As far as cash needed for a six-figure income opportunity, this will range from a low of $15K to “the sky-is-the-limit”, depending on what one wants to and can do.

Once you have made up your mind, “readied” yourself emotionally and mentally, look for someone who can help you through ‘the jungle’ of the tens of thousands of options out there. It’s an adventure worth taking and often will allow the executive to truly live your dreams –while controlling your own destiny.

Mike, most importantly, remember you DO have lot’s of options to chose from. You may want to reach out to your Personal Business Advisor or write to [info @ personalbusinessadvisors.com]

 

Sincerely, Sage

 

April 5th, 2011

Isn’t franchising basically the food industry?

by AskSage

Hello Sage,

I received an Email yesterday from Personal Business Advisors, which made me think about franchise opportunities for the first time in my career. I have one quick question:

Isn’t franchising basically the food industry?

Best, Louis

 

Dear Louis,

I believe the perception that franchising consists mostly of restaurants is wide spread.  Their high visibility locations and advertising dollars make us more aware of their existence.

However, they only represent the minority of the franchise opportunities. Most (60% plus) of all franchises are NOT in the food or retail industry. They are service franchises; many of which are white collar with a six-figure income opportunity.

I recommend you share with Senior Advisor what your background, needs, preferences, strengths and weaknesses are. You may be surprised to find out about the number and different nature of franchises that are available that may be a good match for who you are and where you are in life.

 

Sincerely, Sage