A Franchise is a Business With Training Wheels

Version 1

    Can you identify yourself in this story? Many years ago two shoe salesmen were on a ship heading out to sea.  They were destined for a remote island in the South Pacific that no one had ever visited before.  The two men were very excited. Not only by the great free trip they were experiencing but also the prospect of opening a new territory for their companies.  Finally, after many days on the boat the island was in sight.  Both men ran to the bow of the boat and pressed against the wrought iron railing that darned the entire circumference of the boat.  The anticipation was relentless.

     

    When they arrived on the island both men were astounded. The inhabitants of this island were not wearing any shoes at all. They didn’t even know what shoes were. (Personally, if I lived on an island in the South Pacific I wouldn’t wear shoes either.)

     

    Both salesmen ran back to the boat to call their respective offices to report the situation that they found on the island.  The first salesman said, “Please, send me a helicopter and get me off this island. This trip was a waste of time!  No one here wears shoes!”

     

    The second sales person called his office and exclaimed, “Please send me as many pairs of shoes as possible, as many as you can fit on a boat!  NO ONE HERE IS WEARING SHOES!!!

     

    If you found yourself to be like the first salesman calling for a helicopter, don’t fret, I felt like that too.  But what I found is that there is help for people like us in the franchise world.


    Do you have an interesting story to tell related to your small business? Have some advice for other entrepreneurs to help them avoid some of the pitfalls of small business ownership?  We invite you to share your story with the Small Business Community.   Please note that your story will be reviewed by our moderators before it is posted on the community, so please don't provide an advertisement for your business.  Just answer some of the questions below, in your own words (you don't have to answer them all). We look forward to reading your story!


    Question:
    What is the name of your business?
    Your Answer: FranChoice



    Question: Where is your business located (city & state)?  Who are the customers you serve?  What products or services does you company provide?

    Your Answer: I'm located in New York but serve clients nationally.

    I help people understand franchising and help them figure out if it’s right for them or not. I share the strategies that PROS use to pick winning franchises.

    I typically help folks who are:

    1. 1 Looking for a solid business investment to build while keeping their job
    2. 2 Tired of not being able to obtain the financial and lifestyle goals they desire
    3. 3 Frustrated and cringe at the thought of going to work in the morning
    4. 4 Recently laid off or know there is no loyalty and job security is an illusion

     



    Question: When did you start your business? Why did you decide to start your own business?
    Your Answer: I started in 2005. After quitting a job to start a
    franchise and then selling is and semi-retiring at 41-years old, I realized that I can help people that want to change their life the way I did in 2000.

     


    Question: Did you quit your "day job" to start your business?  How did you initially fund your business?
    Your Answer: Yes, in 2000 I resigned from a government job in the New York City Subway system and purchased a franchise. I used a home equity loan through Bank of
    America to start the business.



    Question: What has been the biggest challenge in running your company?
    Your Answer: Getting in front of people before they make a mistake and buy the wrong franchise.



    Question: What’s been the biggest opportunity that came from owning your business?
    Your Answer: I was able to donate money to the victims of hurricane sandy.


    Question: What has surprised you most about being your own boss?
    Your Answer: I felt guilty of not having to report to an office.



    Question: Is there a success tactic you’d like to share that could help other business owners (i.e. implementing new software, tactic to grow sales, etc.)?
    Your Answer:



    Question: What’s the best piece of advice you could give to other small business owners?
    Your Answer:  

     


    Thank you for sharing your story with the Small Business Community!  A reminder that your story will be reviewed by our moderators before it is posted on the community.  You will receive an email once a moderator has completed their review.


    Don't forget to include a picture of you or your small business.  Please make sure you own the image that you provide. To attach your picture, click the "Choose File" button below to select your picture and attach it to your story. IMPORTANT: When you're finished creating your story, please click the blue "Publish" button in the lower left part of this screen.