Franchise Fit – Background Story
Amanda Berry, FranNet Consultant and Kentucky Market President, served as a Federal Government employee for over 10-year. So how did she end up owning a franchise operation? Learn more about what led her down the path of business ownership and how she ultimately decided that a FranNet franchise was the right fit!
Advice for Future Franchisees: Return of Investment & Find Your Fit
Amanda Berry, FranNet Consultant and Kentucky Market President, explores franchise investment level vs. ROI. Learn more about why you shouldn’t let the price tag of a business be the key determinant of what its actual earning potential is. Berry also walks you through the importance of finding the perfect franchise fit. Make sure you possess the qualities of a successful business owner in the franchise system of your choosing.
Financial Performance Representations
FranNet Consultant and Kentucky Market President, Amanda Berry discusses the importance of the optional Item 19 in a Franchise Disclosure Document (FDD). For some businesses, it doesn’t make sense to include it. For others, it’s quite a different story. Your local FranNet advisor can help you decipher whether or not this item is crucial to the concept you are exploring.
Cost of a Franchise
So how much does a franchise really cost? Amanda Berry, FranNet Consultant and Kentucky Market President, explains why you need to look beyond the franchise fee and dig deeper into Item 7 of the FDD. Learn more about everything that goes into opening that business — staffing, payroll, equipment, training, and more! Gain a better perspective on what the all-in investment would look like.
Funding a Franchise
Most people don’t have $50k laying around to invest in a franchise, so many will turn to small business loans. Amanda Berry, FranNet Consultant and Kentucky Market President, advises that when considering franchise ownership & looking at financing options, think of it in terms of buying another house. Realistically, you need to have a down payment of approximately 20-30%.
How Much Money Can a Franchisee Make?
Part of franchise law is that the franchisor can never make an earnings claim. Amanda Berry, FranNet Consultant and Kentucky Market President, explains why this law was put into place and how system-wide validation can help you get a better idea of what your potential could look like.
If you’re interested in getting your Certificate in Franchise Management, click here to learn more and apply to the University of Louisville’s Franchise Management Program.