Category: Blog

The Insecurity of Job Security

FEB 15, 2017 | Author Larry Carnell CBI, CFE, CFB
QuestionsWhen you think back to the impression you’ve been given your whole lifetime, you can probably tie the word “job” to security. Always accepting the notion that the longer you stay somewhere, the better off you will be. Some of you reading this may even have upheld that notion and are now at a crossroads; you’ve severed ties with a longstanding employer and you’re well into your working years.

Whether you have experienced it already or perhaps indirectly, the presence of ageism in the workplace exists. Employers want talent and experience, but not too much experience.

Here are the disturbing figures:

  • People past the age of 45 that are looking for a new job can often wait as much as twice as long -or longer – to find a job versus younger age groups

  • There are often 3 people applying for every new job

  • Length of replacement jobs are often shorter than previously held

  • Peak incomes are declining (

  • Peak income for men has dropped to 48

  • Peak income for women is now 39

  • Outsourcing has become an effective tool in cutting higher operational and managerial expenses. Why hire an expensive employee when you can outsource those services and only use and pay for it when needed?

  • One would think that knowledge and experience is extremely valuable and that those years of experience would be worth acquiring and keeping, but the statistics show this is not likely the case for most employers.

What Can You Do?

In a situation where you’re faced with jumping back into the pool of employment candidacy, you can do one of the following:

  1. Re-train or re-invent yourself (ie: go back to school, take a certification course, etc.) but this can often be difficult and costly.

  2. Wait it out and continue the application and interview process hoping that something will come along that meets both the employer’s needs and yours. This could take in some cases up to- or more than – a year.

  3. Start your own business or purchase a franchise.

I’ll share with you a recent story of my own: While my wife stopped into a Walmart for a few items, I found myself making small talk with a very friendly and energetic gentleman who worked in the store as a greeter. He disclosed to me that he was once the Vice President of Sales for a company where he had worked for 5 years before being “laid off” at the age of 57. He was then faced with unemployment for 3 years before agreeing to accept the job at Walmart. He felt he had no choice due to depleting savings and eroding retirement funds. He held onto the hope that someone would come along and hire him due to his past accomplishments and skillsets. After “50 – 100” applications and interviews, no such luck. There was no doubt this gentleman had skills, maturity, experience and other desirable attributes, yet no one seemed to want them – or him. Those very attributes could be extremely effective in owning a business of his own. I then asked this gentleman his thoughts on owning his own business, but he very quickly dismissed this idea. Why?

The Perception:

Owning a business is often seen as risky, scary and time consuming. But, so is job searching in a market that is bypassing the experience you are bringing to the metaphorical table. What if you could be in control of your own destiny? What if you could provide yourself with long-term security? What if you could achieve a superior income stream as well as increased equity and wealth protection? Business ownership is one of the few areas where one can achieve these qualities; often not provided with many jobs.

Back to the risk factor for a moment. One of the most difficult things for many to understand is that it’s often virtually impossible to eliminate risk unless one also eliminates opportunity. For many approaching or passing the age of 45, the risk of business ownership may be less than the risk of job insecurity, declining lengths of employment, declining pay scales and other factors.

How Can YOU Make The Dream of Business Ownership Possible?

It is a common misconception that the cost of owning a business is well, expensive. Not true! One of the more common methods of business ownership that eliminates a lot of the typical costs is franchising. Owning a franchise actually causes the cost of business ownership to decrease in many cases. There’s often less risk associated, as well.

Consider the fact that you are ultimately using others’ trial and error to maximize your potential for success. The average total cost of entry level franchises purchased (those typically less than $250,000) have decreased almost 30% over the last 5-10 years! Additionally, many of the newer and more high- demand concepts available enable people to operate out of their homes and even provide products and or services across the country, which was unheard of decades ago.

Another win? There are now a variety of attractive programs to help you fund your business including an innovative program that allows one to use their retirement funds tax, penalty and debt free. Benetrends is the original pioneer of this funding method called Roll Overs for Business Start-Ups or “ROBS”. They are also partnered with some of the country’s leading brands in franchises and can offer you expert counsel in making what once may have seemed like an expensive dream, an inexpensive and successful reality.

Franchise Support: What Should It Include?

By Joel Libava

Feb. 15, 2017


There are certain promises you get when you purchase a franchise business. Some of them come to you by way of the marketing and advertising of a franchise and its model. Some of them come from your franchise development representative.

You: “So, what exactly am I getting for all the money I’m giving you?

Franchise Representative: “Our name…our brand if you will, our technology, our proven marketing plans and advertising materials, a detailed operating manual, and of course, terrific support.”

There’s that word again; support. Let’s talk about it.

Moving Parts

There are a lot of moving parts in a franchise business. At times, these “parts” need to be fixed or improved. And, it all starts with operations.

Operational Support

According to an article on the International Franchise Association (IFA) website, “The most effective and efficient franchisee support programs are formulated, executed and evolve based on two important factors: the franchisor’s corporate culture and the structure of the support program itself. “

The operations department at headquarters is focused on the entire franchise operation…the A-Z’s of running the business. Operations people are involved in several facets of the franchise business including franchisee training, branding, advertising, best practices, benchmarking and more. You’ll have a lot of interaction with the operations department; they’re the lifeblood of the franchise organization. I’m going to focus on three specific support items.


Franchise businesses today depend on technology-good technology, to keep things running efficiently and profitably. Sometimes, technology breaks, and when it does, the technology team (which is usually an arm of the franchise operations department) at franchise headquarters, generally has the ability to jump-in and fix issues.

Technology problems can and do affect the entire organization. If franchisees are experiencing issues, especially ones that directly affect revenue, the franchisor suffers, too.

Tip: When conducting your research, make sure you ask existing franchisees if they’ve ever experienced problems with technology specifically supplied by the franchisor. Then ask them how long it took to get their issues resolved by the support team.


As a franchisee, you need to have as many opportunities as possible to sell your products and/or services. Marketing creates those opportunities. And, you’re paying* your franchisor to help market your business.

*Most franchisees pay into a marketing fund. The amount paid is usually a percentage (2-3% usually) of revenue. If your franchise business is generating $400,000 in annual revenue, your franchisor would receive $8,000 – $12,000 a year for marketing.

One of the attractions of franchise ownership is the fact that you don’t have to figure out the marketing aspect of the business. That’s what the marketing department is for. Ask franchisees how good the marketing is. Then ask them what kind of support specifically they get from the marketing team at headquarters.

Field Support

Most franchisors employ field representatives. Their job is to visit and assist franchisees at their locations.

In addition to their problem-solving role, field reps are often tasked with sharing and explaining corporate initiatives-especially new ones. They often help the franchisor ensure that the franchisees are indeed following the business system they purchased and legally agreed to follow.

A good field representative can be a real blessing for a franchisee. Reps can find things franchisees are doing incorrectly or need improving, and help them get back on track. Today’s field reps understand that the franchisees have put their own money and sweat into their businesses and that they really want to succeed.

Great support from franchise headquarters can often spell the difference between franchisee profitability and mediocre franchisee financial performance or worse and franchisee dissatisfaction.

Remember, if the franchisees do well, the franchisor does well.

Ask a lot of support-related questions as you do your research. You’ll be glad you did.

Do You Have Grit?

AAEAAQAAAAAAAAKaAAAAJGMzMjM5OTExLTY0MzQtNGQzMi1iMzU0LWZlMTU0NzcyMDkwZQIn a LinkedIn article by Dr. Travis Bradberry, he analyzes the work of Angela Lee Duckworth on the attributes of successful people. Duckworth was able to distill her conclusions down to a single word: Grit.

What is “Grit?”

“ “Grit” is that “extra something” that separates the most successful people from the rest. It is the passion, perseverance, and stamina that we must channel in order to stick with our dreams until they become reality.”

The article is well worth a thorough reading by anyone looking to start a business and you can access it HERE.

Do you have Grit?

Three Questions to Ask Yourself Before Purchasing Your Own Franchise

Franchise Depot

By Nic Clark

Franchising is often underestimated as a form of entrepreneurship, since franchisees are licensing the name and intellectual property of another company. Modern-day business owners frequently tout the benefits and glamour of owning and operating your own business, but what often goes unsaid is just how difficult it can be to start a new business. Those who
don’t want to (or don’t know how to) build their own supply chains, create their own management policies, build a customer base, and design their own products, should consider whether a franchise is right for them.

The appealing part of owning a franchise is that it represents the closest alternative to owning your own business, with the added benefits of built-in brand name recognition and the support of an established organization. Franchise ownership is where most budding entrepreneurs begin successful careers in business ownership.

When considering whether to go down the path of franchise ownership, there are a few things to keep in mind in order to be prepared to meet the challenges that come with franchise ownership. Asking yourself the following questions will help you make the right set of decisions when determining which franchise is right for you.

1) Can I Meet the Financial Requirements?

Each company sets different financial requirements for their franchisees. It is up to you to ensure that you make the financial cutoff for the business that you want to own. The “cutoff” is the amount of money a franchise requires a potential franchisee to possess in liquid assets and overall net worth before awarding a franchise. This amount varies dramatically between different franchises and in different industries. For example, a restaurant requires a franchisee have a vastly higher net worth (in the low millions) than, say, a home-based janitorial service.

Liquid assets are especially important when considering a franchise, because most businesses will require initial payment for the cost of licensing, leasing, inventory, and sometimes labor.

Furthermore, franchisees are required to pay a royalty, either on a monthly or annual basis, to the franchisor, regardless of the profitability of their individual franchise units. This could prove costly if the franchisee hasn’t done the necessary work on building the business and growing the clientele. Furthermore, many franchisees are required to sign a contract
mandating that they own the franchise for a certain period of time (e.g. five years), and exiting before it terminates can carry a hefty fine.

These financial caveats shouldn’t deter interested potential franchisees, but instead inspire them to do their research and be sure they can easily fulfill the financial requirements of the franchise in the long-term.

2 ) Do I have the skills and knowledge necessary to make a franchise work?

Not all industries require the same set of skills and experience. Working “on the business,” and “working in the business” require different skill sets, but many times franchise owners are required to solve customer problems or even cover an absent employee’s shift. For example, if you own a Jiffy Lube franchise but you don’t know the first thing about working with cars,
then you’ll have a hard time making decisions that are beneficial to the specific nature of your business. Imagine working for a boss who never allocated the right amount of money to purchase certain parts and machinery. This would reduce the overall quality of service,
harming the franchise’s ability to turn a profit.

Keep in mind, however, that you also don’t necessarily want to acquire a franchise in an industry that is too close to your area of expertise or interest. For instance, someone with amazing culinary skills and a fond interest in cooking might not be the best person to become a restaurant franchisee. Why? Chances are, a chef with a true love and talent for cooking might find it difficult to maintain the strict policies and procedures set forth by the franchise.

Also, once you purchase a franchise in any industry, you aren’t in the business of the industry itself; you are in the franchise industry.

3) What is my end goal?

Owning a franchise means you own your own business, yet you are still under the auspices of a larger corporation that guides and directs what you do in your own store. For some people this is very appealing. Essentially, franchisees are in business for themselves, but not by
themselves. They receive a kind of stability and predictability that reduces the risks associated with owning a business. This same quality can also be a huge deterrent to people who crave independence and autonomy, so it is important to be sure you can operate under the franchisor’s rules and regulations. Some franchises allow the franchisee more discretion in this
area than others.

In other words, in owning a franchise, you trade a portion of potential earnings and independence for structure, predictability, and a built-in customer base. What you want out of owning a business will determine the best route for you. If you desire more or less freedom in how you run your store, it makes sense to do exhaustive research into their culture and
approach before you sign that contract.

U.S. Small-Business Optimism Index Surges by Most Since 1980

If you have ever considered purchasing a small business, especially a franchise business, there is no better time than now!

“Optimism among America’s small businesses soared in December by the most since 1980 as expectations about the economy’s prospects improved dramatically in the aftermath of the presidential election.”


U.S. Small-Business Optimism Index Surges by Most Since 1980




Why Do You Need A Franchise Coach?

WordCloud-3If you have ever tried to investigate Franchising, you probably became frustrated at some point and wished that acquiring a franchised business was less complicated. It would be a lot easier if buying a Franchise was similar to the way you buy products off of the internet: pick the product, hit the button, pay and BOOM!, it’s yours.

But finding the right Franchise can be like walking into the forest without knowing the trail, the traps or where the bears are.

Buying a franchise is a serious thing, not just for you, but also for the Franchisor. Buying a Franchise is not only a financial decision, but also a life decision. There is a process that needs to take place that insures that you get the Franchise that can make you happy as well as bring you financial success.  Indeed, it is hard to imagine one without the other.

Your best chance at securing financial and personal success in Franchising is to obtain experienced guidance that shows you how to successfully navigate the process.

Here are the steps in the process that a qualified Franchise coach will help you to wend your way through:

  1. Shopping: Do you know what TYPE of Franchise you want? There are thousands of available Franchises. A Franchise Coach can focus you in on the Franchises that meet your goals and are best suited for you as an individual.         banker
  1. Funding: Before you get very far, you will need to determine just how much Franchise you can afford, and how you will finance your business. A Franchise coach can determine which Franchises fit your unique financial profile and can even recommend experienced franchise lenders.

  1. Comparison: You have shopped the Franchise Market and you have decided that there are say two types of Franchises that you are interested in. But there are 25 different companies offering Franchises in these two categories. You will need to compare them and prioritize them? A good Franchise coach would have the ability to offer guidance that will make this task easier.
  1. Preparation: Once you’ve assembled the Franchises that line up with your personality, goals, requirements and finances, you will need to prepare to present yourself as a viable candidate to those Franchises. You will need to know what questions to ask and what questions to avoid. It will also help if you know what the Franchisor will expect from you the first time you talk.
  1. Introductions: A Franchise coach will set up calls with a decision maker at the Franchises you choose, and will also prepare the Franchise to be eager to talk to a candidate with your qualifications.
  1. Due Diligence: After you’ve shopped, compared, met with a representative of the Franchise, your funding is in place, and you have successfully engaged the Franchisor, you will enter into the final stage of investigation. The Franchisor may give you additional information that is not normally part of their public presentation. The Franchisor may also introduce you to some established and successful Franchisees to get their opinion of the company. After this step you should be ready to make a decision. You will need to hire an attorney and an accountant to review the documents. A Franchise coach can guide you to experienced legal and accounting professionals.
  1. Franchise Award: You have made your decision. The Franchisor has accepted you. Your attorney and accountant have reviewed the documents. It’s time to sign the Franchise Agreement and become a Franchisee.
  1. Ownership: Congratulations, you are now a Franchise Owner and you begin working with your Franchise, going through the training process and building your business.


Franchising is an investment of your hard earned dollars. Decisions on investing your money and your time should not take place in a rush or a vacuum. It makes sense to take the time to do it right by using the experience of an experienced Franchise coach.


“Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.”

 Herman Cain