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Grow your franchise your way

Some entrepreneurs are looking to start a business that enables them to retire early. Others want to build a lasting legacy for their families. Whichever path you choose, I can help you plan for the future you want through service franchise ownership. Let’s take a look at what to consider when starting, growing and exiting your franchise.

Planning for
the future

When choosing a franchise, you’ll first want to determine what your goals look like. Your growth goals will affect things like how large of a territory you purchase or how much money you’re willing to invest. Here are a few other things you’ll want to factor into your decision.

  • What are your lifestyle and monetary goals?
  • How long is the franchise contract?
  • How big of a team do you want?
  • Would you consider renewing your franchise contract?
  • When are you hoping to retire?
  • Would you rather sell your business or leave it to someone you know?

Getting your growth on

Growing your business isn’t a happy accident. The most successful franchisees have strong business plans in place to grow at a manageable pace to keep from expanding too fast or too slow. Keep these tips in mind when developing your franchise.

  • Rely on your franchisor and fellow franchisees for guidance
  • Don’t be afraid to go out and network
  • Invest time and resources into local marketing
  • Build a solid team to support you
  • Focus on perfecting operations before expanding
  • Consider expanding into neighboring territories

Exiting your

Whether you’re looking to sell your franchise somewhere down the road or hope to pass along ownership to a family member, you should have a concrete strategy in place for when you’re ready to exit the franchise.

  • Establish an exit goal—like selling or transitioning ownership
  • Determine when you would like to exit the franchise
  • Decide if you will have any involvement with the business after the transition
  • Consult with a trusted advisor such as an accountant or lawyer
  • Factor in the tax implications for each type of exit
  • Consult important facts, figures, data and information to present to buyers

Let’s find your future business together