Are you looking for Capital or Deal Flow in the franchising space??

This session will consist of a panel discussion covering how to position your franchise company for Private Equity investment and what PE firms look for in a Franchise company acquisition or strategic partnership.

Are you looking for Capital to build your Franchise Company???
– OR –
Is your Investment Firm looking for deal flow in the franchising space??

By Gary Occhiogrosso
Founder of Franchise Growth Solutions, LLC.

On Friday, June 1st, I will be moderating a panel at the IFE in NYC. It will be comprised of Franchisors and Private Equity associates. Please see below for details and please let me know if you’d like to attend the meeting. If so, contact me here or at [email protected] & I’ll send you a FREE PASS to the Expo.

10:00 AM – 11:30 AM
+/- Private Equity Investing and Franchising
Room: 1B05
Moderated by: Gary Occhiogrosso, Managing Partner, Franchise Growth Solutions
Panelists: Roger Lipton, President, Lipton Financial Services; Grant Marcks, Vice President, Head of Business Development, Atlantic Street Capital; Kirk McLaren, MBA, CTP, CPA, Georgetown University
This session will consist of a panel discussion covering how to position your franchise company for Private Equity investment and what PE firms look for in a Franchise company acquisition or strategic partnership. In addition, there will be plenty of “networking” time for both Franchisors and Private Equity attendees to meet & network. This is a great opportunity for Investors and Franchisors to meet face to face and discuss current and future opportunities.
Sponsored by Franchise Growth Solutions, LLC. www.frangrow.com

FREE PASS To the International Franchise Expo in NYC
USE PROMO CODE FGS at: https://r1.events-registration.com/IFE2018/?source=FGS
YOU ARE INVITED BY
Franchise Growth Solutions
Booth #340
USE PROMO CODE FGS

This session will consist of a panel discussion covering how to position your franchise company for Private Equity investment and what PE firms look for in a Franchise company acquisition or strategic partnership. In addition, there will be plenty of “networking” time for both Franchisors and Private Equity attendees to meet & network. This is a great opportunity for Investors and Franchisors to meet face to face and discuss current and future opportunities.

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“Franchising and Succession Planning”

The key is to create the best succession plan for your current circumstances. Revisiting, re-evaluating and if necessary, updating your plan should be done annually or whenever a major event takes place in your personal or the life of the business. Succession planning requires that you seek financial and legal advice from a trusted, professional and experienced planner. Your advisor can you help you assess the best route to take, create a plan and eventually assist in carrying it out. Your succession plan should also address a number of strategic business moves.

“Franchising and Succession Planning”
By Gary Occhiogrosso
Founder – Franchise Growth Solutions, LLC.

Succession planning is not a topic that many small business and franchise operators what to think about. In addition to it’s often times negative connotation, its priority can sometimes be lost in the everyday whirlwind or running a business. Nonetheless, the topic is critical not only to address the question of succession should you suddenly pass away, but what role it plays in your overall business exit strategy.

When you are creating a succession plan for a franchise business, you must make important decisions and answer a number of questions. For example; these decisions may involve selling your business, transferring it to a family member or shutting it down completely? Other considerations may include whether you want to a structure your plan so that it can be executed during your lifetime, or at your death? Keep in mind, as a franchisee your options may be limited to any guidelines or rules set forth in your franchise agreement.

The key is to create the best succession plan for your current circumstances. Revisiting, re-evaluating and if necessary, updating your plan should be done annually or whenever a major event takes place in your personal or the life of the business. Succession planning requires that you seek financial and legal advice from a trusted, professional and experienced planner. Your advisor can you help you assess the best route to take, create a plan and eventually assist in carrying it out. Your succession plan should also address a number of strategic business moves. In fact, it should layout guidelines for the possibility of a sale, merger or a capital raise. It is important to state that a franchise succession planning is more than just anticipating the owner’s desire to sell the business, death or retirement. You must also consider the fact that an owner can become disabled, have conflicts with other business partners or simply approach the end of the term of a franchise agreement.
For a franchised business a plan may include the current franchisee identifying a successor, where the franchisor must then approve the successor franchisee. You may be limited to who may purchase the business or if you are allowed to transfer the franchise to a family member that would otherwise not meet the franchisor’s criteria for acceptance as a franchisee.
As you can imagine there are numerous exceptions and issues that come into play. Hence, it is important to build a successful succession plan as part of your overall Business Strategy. Many franchisees and small business owners prefer to ignore succession planning but the consequences of no succession plan can destroy years of hard work and built up equity in your business. As I have often been quoted as saying, “in business, everything touches everything else”.
Tips for a Successful Succession Planning

Consider the family dynamics
Even though the succession planning may include the family members, the existing franchise owners may also need to objectify the future leadership. Start by finding out which family member possesses the right skills, experience, and knowledge.

Selecting the right advisors
Franchise owners should seek legal guidance from the team of legal advisers. This may include attorneys, accountants, business consultants and other trusted advisors.

Realistic decisions
Be realistic about the business value. It is important to have a third party place a value on the franchise to help understand the framework and parameters of the franchise transfer.
Major Issues to Consider When Succession Planning
Are there any restrictions (external or internal ) imposed by the franchisor.
A detailed and a comprehensive buy-sell agreement funded with adequate insurance to buy out the interest of the deceased partner
A well-defined management strategy that determines who is immediately available to undertake the management functions when uncertainty prevails

Reference
Griga, M. (2018). Succession planning Archives – Commercial Associates. [online] Commercial Associates. Available at: https://www.caaa.biz/tag/succession-planning/ [Accessed 1 Apr. 2018].

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About the Author:
Gary Occhiogrosso is the Managing Partner of Franchise Growth Solutions, which is a co-operative based franchise development and sales firm.
Their “Coach, Mentor & Grow Program” focuses on helping Franchisors with their franchise development, strategic planning, advertising, selling franchises and guiding franchisors in raising growth capital.

Gary started his career in franchising as a franchisee of Dunkin Donuts before launching the Ranch *1 Franchise program with its founders. He is the former President of TRUFOODS, LLC a 100+ unit, multi-brand franchisor and former COO of Desert Moon Fresh Mexican Grille. He advises several emerging and growing brands in the franchise industry

Gary was selected as “Top 25 Fast Casual Restaurant Executive in the USA” by Fast Casual Magazine and named “Top 50 CXO’s” by SmartCEO Magazine. In addition, Gary is an adjunct professor at New York University on the topics of Restaurant Concept & Business Development as well Franchising & Entrepreneurship. He has published numerous articles on the topics of Franchising, Entrepreneurship, Sales, and Marketing. He is also the host of the “Small Business & Franchise Show” broadcast over AM970 in New York City and the founder of FranchiseMoneyMaker.com To learn more visit: www.frangrow.com

Video Education Series-Onboarding New Franchisees

Video Education Series-Onboarding New Franchisees
By Gary Occhiogrosso – Managing Partner – FRANCHISE GROWTH SOLUTIONS,LLC.

Enjoy the first edition in our franchisor education video series. This session covered the topic of “Onboarding” new franchisees. Our panel of experts share tips for successful growth of your franchise company. Our panenist: Robyn Elman, Paul Samson, Jason Mazzerone, Ed Teixeira.
Hosted at Harold Kestenbaum’s Franchise Forum in #Melville, NY
The full 1 hour session is available by contacting [email protected]

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About the Moderator and Franchise Growth Solutions, LLC.

Mr. Occhiogrosso’s involvement in business development & franchising began in 1984 when he left a decade-long career in NY radio to become a Dunkin’ Donuts franchisee. In addition to operating a successful retail shop, Mr. Occhiogrosso created a wholesale baked goods division within the company which supplied donuts and other fresh-baked goods to over 80 points of sale while concurrently serving on Dunkin’ Donuts’ franchisee advisory council and advertising committee. Mr. Occhiogrosso continued his involvement in franchising in 1989 by opening a gourmet confection and gift basket shop, Ralph’s Nut Pound. As a advisor to the franchisor, the company developed 53 additional units.

He followed up its success in 1991 with GPM Consulting Inc., a New York-based Sales and Brand Development firm which successfully developed several national franchise brands including Blimpie Salad and Subs, Treasure Cache, Teamworks and Ranch*1.

Working with the founders of Ranch *1 Franchise Corp., he grew the brand into a 60 unit restaurant chain with commitments for an additional 200 units. Gary and the original Ranch*1 management team created the operating system and strategic development plan for the company. In addition he planned and executed Ranch*1 advertising and brand development strategy which included the “Howard Stern” radio show and NY TV campaigns.

Mr. Occhiogrosso moved on to become President & COO of Desert Moon Fresh Mexican Grille a Fresh Mexican fast casual concept where lead the concept from a 4 unit start-up to 23 unit regional chain. He elected to leave that role in early 2009 to become the President of the up-and-coming 100+ unit Multi Brand franchisor TRUFOODS, LLC.

He is the founder of the educational franchise website: Franchise Money Maker.com and Franchise Growth Solutions, LLC.Mr. Occhiogrosso maintains memberships in the International Franchise Association.

FRANCHISE GROWTH SOLUTIONS, LLC. is a strategic planning, franchise development & sales organization. Admission into our membership client portfolio is by recommendation only. Our service is offered only to those recommended & qualified franchisors committed to growing their brand. Our “Coach, Mentor & Grow”® program helps put your system on a fast growth track.

Franchise Growth Solutions. LLC. can connect you to and expertly deliver all franchise disciplines from:

Franchise Sales * Concept & Brand Development * Operations Manuals

Strategic Planning * Real Estate Selection * Lead Genration

Social Media, Advertising & Marketing * UFDD Development * Public Relations

Architectural Design & Construction * Vendor Negotiation & Product Purchasing

Developing your “Elevator Pitch” * Media Coaching

Since we limit our client list, you must be recommended into our Member Client Portfolio. Please contact us to discuss a free evaluation interview. We will have an open, honest discussion regarding your brand, its growth potential and whether we mutually agree if Franchise Growth Solutions, LLC is a good fit. www.frangrow.com

Employee Engagement Strategies

A realistic goal is to ensure all points of engagement that are appropriate are done in an effective manner so that the exchange is mutually beneficial to the employee and the business. Once an employee loses that desire to go to work each day, you are fighting a losing battle if behaviors of the supervisors do not change.

Employee Engagement Strategies
Article by Jennifer Cook, Director of Operations – Used with permission- Symbiance HR

This edition of our newsletter is dedicated to addressing Employee Engagement using a Three Phase Strategic approach. All three (3) strategies are included in this month’s newsletter.

We are confident you will find value in this information. If you do, please forward this email on to those who you believe could also benefit from the content. Have an HR topic you would like to see in an upcoming newsletter, send us an email with your request and we will be happy to consider the topic for future communications.

There’s Trouble when Engagement is Lost!

It would be unrealistic to expect 100% engagement in any workforce, or even 100% engagement from any individual employee. There will always be conflicting priorities that your employee experiences including family, health, education, community, and income opportunities. Organizations compete with these realities daily, and sometimes ignore the fact that forcing an employee to ignore other priorities in life often is experienced negatively by the employee.

A realistic goal is to ensure all points of engagement that are appropriate are done in an effective manner so that the exchange is mutually beneficial to the employee and the business. Once an employee loses that desire to go to work each day, you are fighting a losing battle if behaviors of the supervisors do not change. Countless times we hear how employees are not focused, performance is dropping, communication has disappeared, and the individual has checked out. This is not uncommon, and many of you reading this right now have experienced this very thing in your own lives. What I encourage is you reflect on those past experiences and focus on what you expected from your employer to change how you felt.

A company that fails to spend the time and resources on their human capital, their greatest asset which is the workforce, will see engagement slowly but surely disappear. All the promises and commitments in the world will not make the employees engaged, nor will throwing money at them. The negativity you might experience in managing a disengaged workforce pales in comparison to what your customers and clients are feeling when they interact with these employees. Your business can experience significant setbacks and loss of revenue if engagement isn’t handled effectively.

I urge you to take this month’s articles on engagement to heart. Take from them the nuggets of gold that will help you improve your strategies and tactics in your organization to produce a more productive workforce and an engaging culture in which your employees enjoy coming to work every day.

Article by Jennifer Cook, Director of Operations

We can help you with these programs and would like to speak with you today about developing your strategy to accomplish eengagement in your workplace. Contact Jennifer Cook, Director of Operations, by calling 888-343-7340 or by email at [email protected] Visit:http://www.symbiancehr.net/

Why Franchisees Go “Rogue” and What to Do About It

Among the best ways to keep franchisees from changing or competing with your brand is to have an ever-evolving brand that creates financial opportunity for the franchisee. Another great technique is to set up “Franchise Advisory Council” so franchisees are made to feel that their opinions, input and feedback matters to the success of not only their individual unit but also the brand as a whole.

Why Franchisees Go “Rogue” and What to Do About It How to prevent a problem from occurring in the first place.
By Gary Occhiogrosso – Managing Partner, Franchise Growth Solutions, LLC.

One of the problems facing franchisors is when franchisees choose to go “rogue” by changing how they run the system or they take proprietary knowledge to compete with the brand. There are famous cases where slight changes to a name, but similar advertising and business models landed franchisees in court. One that stands out is Mister Softee, Inc. vs. Tsirkos in 2014. The franchisee copied the ice cream brand’s trucks and even operated under the name Master Softee. Needless to say the “real” Mr. Softee won out in that case. However, time, energy and money were spent on something that may have been avoided in the first. Why do franchisees make these decisions? Sometime its just in their nature or personality to take a position of “knowing better or more” than the franchisor. Although many times it’s because the franchisor is not living up to the franchisee’s expectations or worse yet, offing little in the way of field support, innovation and/or ongoing education designed to help the franchisee drive sales into their establishment. As a result a franchisee may sometimes feel abandoned and then goes into “Survival Mode”.

Ways to Keep Franchisees from Competing with Franchisors

Among the best ways to keep franchisees from changing or competing with your brand is to have an ever-evolving brand that creates financial opportunity for the franchisee. Another great technique is to set up Franchise Advisory Council so franchisees are made to feel that their opinions, input and feedback matters to the success of not only their individual unit but also the brand as a whole.

Of course how the franchisor communicates with its franchisees is a key component to success. It’s not enough to issue reports and statements concerning policy changes and procedural updates. You’ve got to meet face-to-face and make the franchisees part of the discussion. Field visits are integral in developing strong report with the individual franchise owner. An open, transparent approach to issues facing franchisee can make all the difference in the world. This approach will surely help when a franchisee is contemplating reinventing the wheel or leaving the system all together.
When issues of operational compliance do come into play (and they will eventually) you’ll need to demonstrate why following the system is the way to success. Franchisors should be confident they are making legitimate requests of the franchisee by making sure all the franchisor’s processes have been fully tested and proven to be successful. If this is the case, then in my experience, even the most difficult franchisees will have reason to follow suit although they may be reluctant to do so at first. It’s also import to keep an open mind and listen to the franchisee. When franchisees feel they are “heard” they are far less likely to go rogue. Critiquing does a lot but encouragement does a lot more. Creating a culture of open communication will go miles in preventing rogue franchisees.

What Protections are in Place for Franchisors?
Spending time to coach, counsel, correct and encourage franchisees does not mean the franchisor should ever give up their rights and remedies under their franchise agreement. And when a rouge franchisee is damaging the brand or the system or both and if a resolution cannot be reached then unfortunately the only choice is to terminate the relationship. Your franchise agreement should clearly state the terms and conditions for termination. That said, following one basic principle of communication and transparency should prevent this from happening. However if a franchisee does go rogue, then swift and decisive action must be taken to protect your intellectual property and your other franchisees.
Avoiding rogue franchisees requires skill, work and constant improvement on the part of the franchisor. The lines of communication between franchisors and franchisees must remain open and clear. Setting expectations early in the approval process and onboarding is key. Expectations must be spelled out clearly from the beginning. All these small steps, when combined and practiced regularly will help to prevent rogue franchisees.
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About the Author:
Gary Occhiogrosso is the Managing Partner of Franchise Growth Solutions, which is a co-operative based franchise development and sales firm.
Their “Coach, Mentor & Grow Program” focuses on helping Franchisors with their franchise development, strategic planning, advertising, selling franchises and guiding franchisors in raising growth capital.
Gary started his career in franchising as a franchisee of Dunkin Donuts before launching the Ranch *1 Franchise program with it’s founders. He is the former President of TRUFOODS, LLC a 100+ unit, multi brand franchisor and former COO of Desert Moon Fresh Mexican Grille. He advises several emerging and growth brands in the franchise industry
Gary was selected as “Top 25 Fast Casual Restaurant Executive in the USA” by Fast Casual Magazine and named “Top 50 CXO’s” by SmartCEO Magazine. In addition Gary is an adjunct instructor at New York University on the topics of Restaurant Concept & Business Development as well Entrepreneurship. He has published numerous articles on the topics of Franchising, Entrepreneurship, Sales and Marketing. He is also the host of the “Small Business & Franchise Show” broadcast over AM970 in New York City and the founder of FranchiseMoneyMaker.com

Getting New Franchisees Off to a Great Start

This approach helps franchisees adapt as the brand grows and systems evolve. Preparing franchisees to deal with the issues that may come up along the way is key to building a successful franchise system. Ultimately solid onboarding and training should expose the franchisee to detailed information so the franchisee knows what the company expects and they can live up to the “Brand Mission”.

Getting New Franchisees Off to a Great Start
Prepare them for business ownership through the onboarding and training process.

By Gary Occhiogrosso – Managing Partner of Franchise Growth Solutions, LLC.

When training new franchisees, there is a term that is used regularly but has received a lot of criticism “Onboarding” Many Franchisors believe that the “onboarding process” begins once a candidate is awarded the franchise. I coach this process is a different way. At Franchise Growth Solutions we know that the onboarding process begins from the very first interaction the company has with the franchise prospect.

That said, let’s take a step back and first explore the goal of proper onboarding. In my opinion, the main focus is to create value for the brand in the minds eye of the candidate. Without value and respect for the brand, all the training in the world will not produce a franchisee capable of living up to his or her full potential as the operating franchisee.

Although franchisee training is often seen as a means to an end because of how quick paced it is and how much information is packed into training sessions, in and of itself training is certainly not the sole answer in producing quality franchisees. Through the years I’ve trained franchisors to understand that in order to successfully orientate a new franchisee; Mission, Culture and Core Values of the brand must be communicated to and embraced by the franchisee. Here again I cannot emphasize enough that franchisors must start building value and respect for the brand during the recruitment phase. It is during that time, potential franchisees and the franchisor should engage in meaningful, mindful conversation so that the franchise candidate understands what is expected of them and the Franchisor should understand what the franchisee expects in return. It’s a simple (but not easy) process that can lead to rejecting a candidate and losing the deal. However, trust me when I say, losing that candidate is a far better outcome than bringing the wrong franchisee into the system only to wreak havoc, compromise brand standards and lobby additional, otherwise satisfied franchisees into their negative mindset.

Successful onboarding and training requires transparency, consistency and follow up.

The likelihood of a franchise owner “going rogue” when a company is transparent in its expectations lessens. Franchisees know what is expected of them. In addition, the Franchisor’s support personnel should be out in the field in front of the franchise owner, coaching, counseling and working with the franchisee to achieve optimum results, financially as well as making sure the business is providing options consistent with the franchisees lifestyle goals. Supplying ongoing training that places resources within reach of the franchisee is not only vital at the onboarding phase but throughout the lifecycle of the business relationship. This approach helps franchisees adapt as the brand grows and systems evolve. Preparing franchisees to deal with the issues that may come up along the way is key to building a successful franchise system. Ultimately solid onboarding and training should expose the franchisee to detailed information so the franchisee knows what the company expects and they can live up to the “Brand Mission”. Initial and ongoing training should support the idea that following the system is the most important aspect leading to the success of the business. This approach puts franchisees in a better position to make sound decisions concerning the business with little outside assistance and with little room to “reinvent the wheel”.

Franchisees need to be held accountable for holding the same high standards as the franchisor. In order to do this, your company culture, value proposition, training program, operations manuals, job aids and other franchisor supplied tools should be carefully developed, tested, reviewed and updated as necessary. The onboarding process and training program is never “done”. As the franchisor it is your job to insure that franchisees have access to the tools and support needed to grow and thrive.
Get new franchisees off to a great start through a sound onboarding process that starts at the first hello. Recruit and vet your candidates thoroughly, be certain they are a fit for you brand culture and buy into your mission statement. Provide them with the tools and support needed to navigate system changes as they occur. Give the franchisees the foundation they need to grow, develop, and succeed as business owners. An excellent franchise system, built this way from the start makes it easier for franchisees to overcome challenging situations as they occur, and they will occur.
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About the Author:

Gary Occhiogrosso is the Managing Partner of Franchise Growth Solutions, which is a co-operative based franchise development and sales firm. http://www.frangrow.com

Their “Coach, Mentor & Grow Program” focuses on helping Franchisors with their franchise development, strategic planning, advertising, selling franchises and guiding franchisors in raising growth capital.

Gary started his career in franchising as a franchisee of Dunkin Donuts before launching the Ranch *1 Franchise program with it’s founders. He is the former President of TRUFOODS, LLC a 100+ unit, multi brand franchisor and former COO of Desert Moon Fresh Mexican Grille. He advises several emerging and growth brands in the franchise industry.

Gary was selected as “Top 25 Fast Casual Restaurant Executive in the USA” by Fast Casual Magazine and named “Top 50 CXO’s” by SmartCEO Magazine. In addition Gary is an adjunct instructor at New York University teaching Restaurant Concept & Business Development as well Entrepreneurship. He has published numerous articles on the topics of Franchising, Entrepreneurship, Sales and Marketing. He is also the host of the “Small Business & Franchise Show” broadcast over AM970 in New York City and the founder of http://www.FranchiseMoneyMaker.com

Franchisee Education – Why do I Pay a Franchise Fee?

To the Franchisee it must represent a reasonable fee to allow you to become a part of the existing system, including all of the training programs that are a part of that system, to help you reach your own business goals.

Why do I Pay a Franchise Fee?
By Premium Author Dennis Schooley

Franchising is a strategy that the Franchisor uses to achieve its objectives, including market penetration and market domination. Franchises are granted or awarded to a qualifying Franchise Candidate that has similar objectives in their own marketplace. That Franchisee will have the responsibility to fully implement the operating and marketing systems of the Franchisor in their defined area for a specified period of time. The relationship is not generally one of parity.

If it were a relationship of parity, the Franchisee would take on a great deal more responsibility, and of course, liability and risk as well. So the relationship is not one of actual partnership in the legal sense. However, good Franchise systems will generally recognize their Franchisees as Strategic-Partners, meaning they are in a partnership of sorts that is aimed at achieving unified goals, but not one of legal partnership or equity.

The Franchise Fee is the cost of putting the Franchisee into the business of the Franchisor, not as a partner, but as a participant. Costs include:

The development costs of all of the elements of the Franchisor’s system

Training the individual Franchisee to use those system elements and programs
Marketing and advertising to find Candidates
Costs of qualifying Candidates including rejecting many unqualified Candidates
Salaries, travel, & administration, etc.
Legal expenses to draft agreements defining the methods & terms for the Franchisee to participate
The Franchise Fee is the Franchisor’s assessment to cover those costs as well as a reasonable markup. In other words, it’s the entry fee to the point of the completion of the initial training programs.

To the Franchisee it must represent a reasonable fee to allow you to become a part of the existing system, including all of the training programs that are a part of that system, to help you reach your own business goals.

When asked about the Franchise Fee, the Franchisor should have this concept clearly defined in their approach to Franchising. They should recognize that the Franchise Fee should be reflective of the value of entry into a well-developed, comprehensive system for the participant Franchisee. They should also recognize it as the recovery of costs to find, qualifyPsychology Articles, and grant legal rights to participate in that system to the very best Franchisees for the Franchisor’s business.

Source: Free Articles from ArticlesFactory.com

To Invest in a Qualified Business Plan is a Fundamental Strategy.

Your Business Plan is your “road map” of your enterprise and shows you where you want to go. It is to become your checking list to follow up, the same way an orderly routined pilot does, before taking off his plane.

To Invest in a Qualified Business Plan is a Fundamental Strategy

By: Elsa Hedenberg

Before you start reading any arguments about why you should have a super professional Business Plan for your new venture, you might as well first take a look at those lean statistics.

* Only 400 out of 40.000 new ventures are funded by Venture Capitalists (VCs).
* Only about 4.000 ideas reach the pre-business plan stage.
* Only 400 entrepreneurs have available some kind of business plan.
* Only 40 out of them receive some funding by business angels or any other sources.

Statistics also tell us that there is more money looking for good projects than vice versa. Why then is it so difficult to raise money?

It is all about investing on a qualified Business Plan.
This is a methodical first step that leads to the anticipated Fundings.

Your Business Plan is your “road map” of your enterprise and shows you where you want to go. It is to become your checking list to follow up, the same way an orderly routined pilot does, before taking off his plane.
As Henry Kissinger remarkably said: “If you do not know where you are going, every road will get you nowhere

Why let Professionals Prepare A Business Plan for you?

READ THE ENTIRE ARTICLE HERE: https://franchisegrowthsolutions.com/blog-1/

Author Bio
Elsa Hedenberg has an extensive experience in consumer products marketing and has a degree in consumer’s psychology. Has published business articles in business magazines, in Swedish and English.

Article Source: http://www.ArticleGeek.com – Free Website Content

Next Life Phase – Starting a Business After Ending A Career

Dean is deciding whether to find another job with the security of a regular paycheck and benefits, or start his own business. He finds information on the internet helpful but wishes there was a Big Brother-like program pairing people and businesses to help him sort through the options.

Starting a Business After Ending A Career
Making Lemonade: Starting a Business After Ending A Career

By: Liz Sumner, M.A., CPC

What do you do when the money tree starts sprouting lemons?

It’s increasingly common these days to find middle-aged, mid-level managers suddenly faced with huge shifts of circumstance. Down-sizing, bubble-bursting, plant-closing, and consolidating are just some of the forces creating a class of sudden solo-preneurs.

At 50-something you face particularly difficult job-hunting challenges. Your salary range is high. Your network is decent after so many years, but jobs at your level are few. You’ve been there, done that, and thought you were finished with all that new trick-learning.

A big upset like job loss can provide a shift of perspective – an opportunity to take stock. What is really important? What do you want to pursue at this point in your life? Is being your own boss the way to go?

I spoke with several silverbacks to share their wisdom gleaned from these life changes with a new member of the pack.

Dean turned 50 in January of 2005. In May he was fired from his position as marketing director of a high-tech firm. He’s angry at the ease with which an employer could let him go.

“Control is a big issue for me. Do I really want to have someone tell what, where, and how? It seems like I work a lot but don’t reap the benefits. If I were on my own I’d have all the benefits and all the risks.”

Dean is deciding whether to find another job with the security of a regular paycheck and benefits, or start his own business. He finds information on the internet helpful but wishes there was a Big Brother-like program pairing people and businesses to help him sort through the options.

Carl was 51 when the ordinance plant where he was safety manager closed its doors.

“I had a lot of friends in the business. I could have easily picked up another job but I would have had to relocate halfway across the country. I didn’t want to do that.”

Bob was an engineer whose position was eliminated after 23 years with the firm. This sent him into a deep depression that lasted for months.

“I couldn’t even drive.”

With the help of his psychiatrist, Bob recognized what was most important in his life-his wife, his son, and his lifelong hobby, bird-watching.

“My doctor told me to go bird-watching every day. While out there on the wetlands I had a vision. I couldn’t go back to the corporate life.”

It takes a lot of stamina and belief in yourself to move ahead with plans for a business. Carl spoke of his state of mind at the time:

READ THE ENTIRE ARTICLE HERE: https://franchisegrowthsolutions.com/blog-1/

Author Bio
Liz Sumner, M.A., CPC, of Find Your Way Coaching specializes in mid-life reassessment. Are you happy with your direction? Do you feel good about yourself? Are you fearless? Joyful? Energized? You could be. Visit www.findyourwaycoaching.com or call 603-876-3956 for more information.

Article Source: http://www.ArticleGeek.com – Free Website Content

BRANDING – WHAT’S IN A NAME?

BRANDING – WHAT’S IN A NAME?
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Can you tell me what any of these companies does? Of course you can’t. They’re relying on customers already knowing who they are (a tricky proposition for new businesses!) or by having their name found in ‘context’, such as a yellow pages or on-line business directory.

WHAT’S IN A NAME? THE SIX ESSENTIAL ELEMENTS YOU NEED TO KNOW
BY: SUSAN FRIEDMANN

Selecting a name for your new business is not easy. A name does more than identify your company. It tells customers who you are, what you do, and more than a little about how you do it. Your name differentiates you from your peers, peaks customer interest, and invites further investigation — if you do it right.

I didn’t do it right. At least, not at first.

All entrepreneurs make mistakes, and I made one of my first ones right off the bat. Thrilled with the fledgling business I was starting, this precious enterprise so near and dear to my heart, I christened my company Diadem Communications. Diadem means crown– a fitting name for what I felt was a
crowning achievement.

What does Diadem say to you? Does it evoke thoughts of me coming into your company, training your sales team to be the best booth staff ever, ensuring that every single trade show you attend turns out to be amazingly successful? Does it make me sound so good that you just can’t wait to hire me?

No. It doesn’t say that to me either. And even worse, it didn’t say that to any of my potential customers. Going by name alone, no one would be able to determine the least bit of information about me, my company, or the services we offer. The name said nothing, and it did nothing for me.

The name had to go. More importantly, it had to be replaced by something effective. How do you come up with an effective name? Consider these six elements:

An Effective Name:

1. Tells Who You Are: Your name should reflect your identity. This is an essential aspect of branding. You’ll be promoting this name, getting it in front of as many eyes as possible as often as possible. How do you want the public to think of you?

For some, that means integrating your personal name into the name of your business. This is very common in some professions: legal, medical, and accounting leap to mind.

Others prefer a more descriptive name. One successful small baker runs her business under the name “The Cookie Lady” because that’s how her first customers identified her. It’s doubtful that most of the customers even know her first name (It’s Pat) but everybody in her market knows “The Cookie Lady”.

2. Tells What You Do: It’s incredible how many company names give little, if any indication of what type of work the organization actually does. Take the following examples:

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