December 2011 - The Bulletin Magazine

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FROM EMPLOYMENT TO EMPOWERMENT 3 - Part 3 By Gerri Sefi This is the final part of the article on questions to ask both the franchise and yourself before you begin the lengthy and often costly investigative process. What makes a good franchise operation? There are a number of factors that contribute to good operation, notwithstanding the obvious i.e. high ROI. Here are a few: Management tenure – this is often a good example of how solid the business culture is, and staff longevity indicate that management knows how to keep good employees. Their philosophy for franchisees will often be the same. Franchises are awarded – not bought – so it’s important to assess the quality and quantity of corporate data provided to you. A good coach can provide you with a list of questions to ask to ensure you cover all the bases. Many companies will hold a “Discovery Day”. This is your opportunity to meet the management team at their Head Office and kick the tyres. Training - Does the franchisor have initial and on-going training, and are they accessible to assist and guide you when required? Franchisee Input - Does the franchisor have an advisory group i.e. does management listen to those in the field, or are all decisions made unilaterally? What is life like as a franchise owner? Franchise owners experience much the same work life as any other small business i.e. you are responsible for everything from marketing to administration to technology. In my experience, very few small business owners ever completely leave the business behind when they leave for the day – business owners are never “off-duty”. However, the franchisee has an added dimension to his business in that he has support and assistance from the franchisor, as well as access to non-competitive associates, some of whom will have been in the business longer and are experienced with the business cycle. The anxiety of having all the responsibility is somewhat mitigated by being able to share with those in exactly the same position in the same industry. What are some of the work life expectations? Even if you choose a business that operates during business hours, owners rarely work 9-5, 5 days a week. Be prepared to work harder than you have ever done before but with the knowledge that all the rewards are yours, as well as pride and satisfaction. What are the 5 biggest challenges about owning your own franchise? • The larger investment up front instead of gradual capital injection as the business grows. • On-going fees - most franchises will take either a percentage of revenue, or a fixed cost, as this is how the company itself makes a profit. This can be challenging in lean times. • Exit strategy – contracts vary but 10 years is fairly common. You may not be able to quickly sell the business as, unlike a normal sale of a business, the franchise company will want to approve the new buyer. It’s not just a question of capital, fit is important. • You may not agree with some of the decisions made by the management team. Rarely is a franchise company a democracy, so you have to be prepared to live with what works for the majority. continued on page 30 22 Merry Christmas to All!
Classes running now! Tuesday Nights 7 - 8 pm Drop-in $10 Sharon Hope United Church 18648 Leslie Street, Sharon Come join the Zumba fitness Craze. Session starts January 10 to March 13 10 weeks YOGA with JOANNE ROYCE certified Yoga Instructor Beginner & Intermediate Classes Day and Evening Classes available 9 week course starting January 9, 2012 ** Call Ahead - Space Limited ** Sharon Healing Service Sunday, December 11, 7:00 pm Christmas Eve Service Saturday, December 24, 7:00 pm www.holtfmc.webs.com 19198 McCowan Road (just North of Mt. Albert Road) 905-473-3783 905-478-8245 yoga-with-joanneroyce@rogers.com Judy Coffey, Official Zumba Instructor 289-338-4227 or judy@zumbanorth.com 20% off your first service with DASHA! For the complete Zumba North fitness class schedule visit www.zumbanorth.com In 2010, nearly 119,000 Canadian Mo Bros and Mo Sistas got on board, raising $22.3 million CAD during the Movember campaign. Like East Gwillimbury’s Bulletin Magazine on FACEBOOK Let us assist you with: • House cleaning/laundry • Running errands • Yard work/maintenance • Meal preparation • Holiday preparation • Snow removal Anything we can do to help you continue living independently; safely & worry free. 289-380-1226 www.dashainc.ca Fully licensed, bonded & insured for your safety & peace of mind. Holt Free Methodist Church TheBulletinMagazine.com December 2011 23
Page 1 and 2: www.TheBulletinMagazine.com THE Bul
Page 3 and 4: IN EACH ISSUE 6 WHAT’S ON Decembe
Page 5 and 6: 2011 East Gwillimbury Chamber of Co
Page 7 and 8: Sunday, December 11 Healing Service
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Page 21: DEADLINE DECEMBER Experienced Clean
Page 25 and 26: This versatile group of plants are
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Page 31 and 32: My name is John Hayes and my wife J

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