A little self-indulgence today, and I promise not to make it a habit.
As you probably know if you’ve read this blog over the years, much of my consulting has evolved to a focus on startup businesses. That’s why, in addition to running my own practice, I’m a partner in a global venture catalyst that helps commercialization of startups post the idea validation stage through to sustainable profitability or a liquidity event. I also advise startups through my work at the First Flight Venture Center.
Two of the things I’ve noticed as I worked with some folks who thought they wanted to build and run a startup were that their as yet unvalidated ideas were often not really scalable businesses nor did they have a clue as to how running a startup business was different from life in the corporate world where many of them had spent their careers thus far. Quite a few of the budding entrepreneurs I’ve met were in their late 40’s to late 50’s. They had some money to invest in their startup but not enough to retire on. Besides, they were too young to play golf all day, as lovely as that sounds.
OK, so what’s the big announcement? What I realized is that rather than doing a startup many of these people needed a business in a box – something into which they could buy and, if they followed the plan, be successful. In short, a franchise. Because of this insight, I’ve expanded my consulting practice into franchise consulting. I will operate under the name of Franchise-Source and I’ve linked to the website (this is a temporary site – a newer, nicer one will be up soon). I’ve hooked up with a wonderful organization that represents over 500 different brands in over 70 different industries. My new entity has pages on Facebook and LinkedIn (those are direct links) as well. I hope you’ll check them out.
I’ll be continuing my other consulting as well and of course, the screed will continue although I’ll veer into the franchising world from time to time. I hope if you’re considering owning your own business or franchise and aren’t sure where to start that you’ll call or email me. As with a realtor, the buyers don’t pay for my services. The sellers – or franchisors – do. The work has been gratifying so far in that I’ve already spoken with a number of people who are looking to change their lives and rather than taking a chance on an unproven idea they’ve worked with me to investigate a solution that works for their goals, their budgets, and their lifestyle.
Thanks for reading. I’d appreciate you letting anyone you know who might have an interest in a franchise that I’m here to help. Back to our regularly scheduled blog programming next time.