FranNet Canada invites you to complete our self-directed learning course:
Your E2E Journey: From Employee to Entrepreneur!
How to find, and research your optimum self-employment Options
Who doesn’t love the idea of being their own boss and controlling their own destiny?
Whether you’re looking for a career change, an additional revenue stream or something full-time, owning your own business can provide you with greater flexibility, control and financial reward.
This Course will provide critical insights into the world of self-employment and franchise ownership and will enable you to be much better prepared for your search for the right business, regardless of which options you will be considering. You will learn more about:
- three primary options for getting into business
- different types of business ownership structures
- what franchising is and why it works so well
- the numerous options available within the franchise industry
- How to follow a proven research process to get all critical information
- How to get to a defensible YES or NO decision
You will also be provided with self-reflection exercises that will help you learn a lot more about yourself, and how to find where your optimum business opportunities may exist.
This course is just over 2.5 hours long and broken into manageable segments.
Segment 1 provides an Executive Overview (11 minutes):
The remaining sessions are best viewed in three separate sessions:
Viewing Session 1: By viewing segments 2 through 4 you will gain critical insights about the foundations of what to consider in business ownership, and the type of business ownership options
Viewing Session 2: after viewing segments 5 through 9, you will have a deep understanding of what franchise ownership is and is not; why it is such a strong business model that mitigates risk, ownership structures; where different types of businesses fit in the overall spectrum of franchising, and funding sources for franchise ownership
Viewing Session 3: by reviewing segments 10 through 12 you will learn how to avoid the mistakes people make that cause them to buy the wrong business; you will also learn how to build your ideal business model and effectively conduct the most critical steps of franchise research.
Here is a detailed overview of each session segment.
Video #2 – Career Paths (18 min):
- career strategies; career pathways
- why more people are exploring self-employment
- realistic launch timelines
Video #3 – Why Business Ownership (11 min):
- defining success on your terms
- primary motivators driving self-employment
- who is suited to franchise ownership
Video #4 – Types of Entrepreneurship (12 min):
- starting a business from scratch
- buying an existing business
- buying a franchised business
Video #5 – Franchising 101 (17 min):
- what franchising is, and why it works
- how franchisors help franchisees compress time
- why franchise ownership is a proven way to reduce risk
- transparency in franchising – the Franchise Disclosure Document unpacked
Video #6 – Franchising Misperceptions (17 min):
- myths and misperceptions about franchising
- initial investment – how much do I really need?
- Average investment ranges
- understanding and managing the risk of franchise ownership
Video #7 – 3 Types of Franchise Ownership (5 min):
- full-time owner operator
- full-time executive owner
- semi-absentee (passive engagement) owner
Video #8 – Funding Sources (5 min):
- what gets financed; what does not
- primary funding sources and programs in Canada
Video #9 – Spectrum of Franchising: Where Does Each Type of Franchise Fit? (24 min):
This critical segment provides a detailed breakdown of each of the primary categories of franchises:
- inbound retail (bricks and mortar)
- territory servicing (no bricks)
- outbound business to business (light manufacturing)
- business to business professional services (consulting, etc.)
Video #10 – Pitfalls to Avoid (12 min):
- making your franchise purchase decision based primarily on emotion
- thinking that it’s easy to run a consulting business
- beware of the ambush
- making fatal assumptions
Video #11 – Finding Your Optimum Match (10 min):
- identifying your transferable skills
- defining your financial comfort and affordability range
- how to assess your ability to run a specific business
- defining your business preferences
- defining your financial and lifestyle goals
Video #12 – Research Steps (12 min):
- learning about you; building your ideal business model
- introducing well-matched franchise options
- engaging with franchisors to learn about their business
- engaging with franchisees to learn how well things are working
- seeking legal advice before buying your franchise