We come at SHO from a couple of perspectives. First, it's simplified as Make $, Save $. On the Make $ side of things we break it down into a couple of paths - Create or manage your own biz or hustle (startup) or tap into an established brand or model. Franchises fall under the idea of tapping into an established brand or model.
Thursday February 10, 2022 we had a webinar with Shawn Gurn, a franchising consultant with HOF Franchise Consultants. He walked us through some of the principle considerations we should have when evaluating a Franchise opportunity. If you weren't able to tune in live, you can catch that webinar here:
If you are evaluating starting your own business on your own or if you are looking at franchises already, this webinar is a great intro course to what you should consider. Why start from "0" if a model exists that could speed your path to success? And find out some important considerations to decide whether a franchise approach might be appropriate.
Some things I found interesting:
There are literally thousands of franchises out there with varying levels of up front investment.
Your personality can have a major impact on defining the right opportunity(s) for you - your personality traits can match you to the franchise opportunity to fit "you". The personality trait test that I took was spot on for me.
Franchises have very different models and you'll want to choose which models work best for you AND will likely need to bring in a franchise attorney to help understand the contracts before putting ink on the deal.
Any business is a great opportunity to create cash flow, provide tax benefits, etc.
In home franchise opportunities really took off during the pandemic (like in home care resources, tutoring, etc.)
Check out the webinar and join our community to keep abreast of all the latest updates and growing content we have available as we lead up to our in person events.
YouTube Channel - Like and Subscribe: https://www.youtube.com/channel/UCnl3LkOlete2Qg49PcfNk8g
Connect with Shawn Gurn: https://hoffranchiseconsulting.com/
Schedule a Call: calendly.com/shawn-franchiseconsulting