Today’s guest post is by Jeff Levy. Levy is a nationally recognized consultant and coach to individuals interested in exploring self-employment. Jeff shares from his wealth of business experience as a founding member of Windswept Capital, President and COO of Spider Staging Corporation, an officer at Flow International, and Executive VP and principal of SafeWorks LLC.
As a business coach, Jeff has helped several hundred people begin their first business. He serves on several college entrepreneurial advisory boards and is a regular guest speaker at SCORE and the Women’s Business Center. He is also the co-author of Making the Jump Into Small Business Ownership.
Levy has led a number of small business seminars with the Library, and we are thrilled to host him again for two exciting business seminars in October and November:
For additional information about franchising, see our resource list: L2B: Franchising.
The term “franchising” is derived from the French word “franchir,” which means “to free oneself from servitude.” Through upcoming Shelf Talk posts and Library seminars, I’m going to tell you why the above statement is true for hundreds of thousands of people. To the extent possible, my hope is to be a knowledge resource for the Library community on all questions relating to the franchising concept and encourage a lively discussion. I welcome all input and suggestions for topics specific to your interests.
To put things in perspective, CNBC reported that in 2017, the GDP of the franchise industry was “set to increase by 5.2 percent to an estimated $426 billion from last year’s $405 billion.” That is a lot of commerce. For many whom would never start their own business for lack of an idea or strategy, franchising is a means of being in your own business without the inherent risks of a startup.
There are many facets to a complete understanding of the variety of business types that make up franchising. There are over 80 industries served by the franchise model. My upcoming posts and seminars will cover how to choose a franchise and evaluate a franchise, understanding Franchise Disclosure Documents, choosing an attorney, negotiating or not with the franchise, territories, guidelines for gathering information, common mistakes, funding, and gathering what you need to sign the agreement. To those of you who have followed my local seminars, you won’t be surprised to see a dose of motivation and goal setting ideas as well.
Ultimately, a franchise is a toolkit, structured to build predictable results. How well you perform will be in direct proportion to your personal goals and motivation.
~ posted by Jeff Levy
Also read: How to Evaluate and Select a Franchise