Looking Up, With Good Reason! Detroit Regional Chamber’s 2014 “Year in Review”

The Detroit Regional Chamber recently released its Year in Review report, highlighting the work it has done in 2014 to help rejuvenate and renew the Detroit landscape. 

From DetroitChamber.com

Attracting Business and Investment from Around the World
In 2014, the Chamber took four trade missions to China, Germany and Italy to showcase the Detroit region.   The chamber also participated in 14 tradeshows/conferences, took nine domestic site consultant marketing trips, and hosted 11 delegations from across the world.

According to the Chamber, since 2012, they have contributed to the generation of over 900 jobs and $132.1 million in investment.

April’s Trade Mission Success
In April, the Chamber joined the Michigan Economic Development Corporation (MEDC) and Governor Rick Snyder.  The 7-day trip allowed for the announcement of 325 new jobs and $37.85 million in investment.

From DetroitChamber.com

The Grand Bargain
The historic Grand Bargain legislation in June helped bring Detroit out of bankruptcy.  The Chamber advocated for passage of the legislation, which protected pensioners and ensured the Detroit Institute of Arts’ collection would remain intact.

Reforming the Personal Property Tax

The Chamber led the way for the support of Proposal 1 during the August primary election.  The elimination of the Personal Property Tax is estimated to create an additional 15,000 jobs and generate $450 million in investment for the state.  This proposal allowed for the phasing out of personal property taxes that small businesses pay on office equipment and manufacturers pay on industrial equipment.

As a Future Entrepreneur, It’s Time to Look Up

The Detroit region hit rock bottom in recent years, but the future is bright.  The Detroit Regional Chamber has done great work to get the area pointed in the right direction.   Click here to read more about the Chamber’s Year in Review.  

As the old saying goes “Buy Low, Sell High,” this is your time to buy.  The Chamber is one of many entities working to bring companies, jobs, and money into the area – which means future customers for a potential business that you may want to start.

Bring a Franchise to the Area

Just as companies are looking to relocate to the area, you can relocate a proven business concept to the Motor City.  FranNet can introduce you to franchise business concepts that are just waiting to enter or expand in the market.  Although part of a franchise system, YOU are the LOCAL owner of your own the company, operating under license with the franchisor.

Let me introduce you to franchising at a FREE seminar on January 15, 2015 in Troy, MI.  “Franchising as a Career, an Investment, or Both” gives an overview that talks about entrepreneurship, franchising vs. starting a business from scratch, various industry categories, and how FranNet’s no-fee, no-obligation consulting service can match you with a company that fits your lifestyle needs and goals.

For more information, please visit http://michiganfranchiseforum.com/local.html.  You can also contact me directly at 313-821-5060 or mcory@frannet.com.

As a future entrepreneur, there is good reason to have a positive outlook.  Detroit is ready, are you?

Follow @markcory

SOURCES

Detroit Regional Chamber “2014 Year in Review”

http://www.detroitchamber.com/wp-content/uploads/2014/12/Year-In-Reveiw_2014_web.pdf

Michigan 2014 Primary: Proposal 1 passes, personal property tax phase out will proceed

http://www.mlive.com/lansing-news/index.ssf/2014/08/michigan_proposal_1_results_pp.html

Auto Parts and Dealers Rebound, US Adds 25,000 Franchise Jobs in November 2014

ADP released its November 2014 Franchise Jobs Report with the announcement that the US added 25,000 franchise jobs - the biggest monthly increase seen since June. This marks 34th straight month of job increases for overall franchise jobs.

"Franchise jobs added increased sharply in November to a level not seen for several months," said Ahu Yildirmaz, vice president and head of the ADP Research Institute. "Much of the rebound came from the Auto Parts and Dealers segment which added about 5,000 more jobs than in October."

The biggest category to see an increase in jobs was the restaurant industry, which added 11,800 jobs. 

Overall, ADP reports 8,364,400 American jobs are with franchises. This is a 2.9% overall increase from November 2013.

Help Create Jobs as a Franchise Owner 
Owning a franchise is not only an investment in yourself, but helps to create jobs in your area. Find out more about how you can discover if franchising is right for you by taking part in one of our events or webinars listed to the right. You can also contact me directly to find out more at 313-821-5060 or mcory@frannet.com.

Follow Me on Social Media
Follow @MarkCory

As the Holidays Progress, Are You With Your Match (Professionally, That Is ...)

It’s December. The time of snow, Christmas parties and shopping marathons.  It’s also the time for reflection as the calendar gets closer to turning to 2015.

TIME TO REFLECT
Think about your 2014.  Do you find yourself working too much and other people reaping the rewards?  Are you in a second job that is only paying by the hour?  Was the year a drag, just because you are not doing what you love?

ASK QUESTIONS
What if you could be matched with a business concept that allowed you to invest in yourself?  What if you could be matched with a business concept that you’d actually enjoy being a part of?  What if you could be matched with a business concept that is a side investment or a “second job”?

GET MATCHED
FranNet has an exclusive matchmaking process that pairs you with franchise concepts that fit your goals, preferences, personality and budget.  We are going to ask you lots of questions and get to know you, as well as find out where you want to be in life?  Are you going to be a day-to-day owner directly involved in the business?  Are you going to be a semi-absentee owner, meaning that you are going to be involved 15 to 20 hours a week?

FIND OUT MORE
We also have the knowledge about franchising and can coach you through the process.  What’s a FDD?  Where can I get financing?  What are the questions I should be asking to make sure I’m selecting the RIGHT fit?

I invite you to take a look at some of our upcoming events and webinars listed to the right.  My webinars, events, consultation and services are totally free – no obligations at all.  My goal is to educate you and show options.  There have been times that I have suggested that people should not be franchise owners.

You can also reach out to me at anytime if you want to learn more about franchising.  I can be reached at 313-821-5060 or mcory@frannet.com.

Follow @markcory

Giving Thanks as a Business Owner

As we come upon a holiday about reflection and family, I am thankful for many things: family, friends, good health and more.  As a business owner, I am thankful for the chance to make my own career and invest in myself.    

GIVING THANKS FOR HELPING PEOPLE

As a FranNet franchise owner, I have had the chance to meet with hundreds of people looking to start a business.  Some I have been able to help provide guidance and coaching as they start on their journey to success as a franchise owner, and some I have advised that starting a business is just not the best idea for their particular circumstances. For those who are ready,  I have been able to introduce some to business concepts that meet their key criteria – some concepts that the person didn’t even know existed!  The bottom line is that I’m thankful for the chance to help people.

GIVING THANKS FOR SUPPORT
As a FranNet franchise owner, I have been able to network with fellow franchise owners.  Sharing steps to success and things to avoid, it never feels like I am alone in this business.  I am thankful for support and places to turn.

GIVING THANKS FOR AN ACCOMODATING SCHEDULE
As a FranNet franchise owner, I have been able to create my own work schedule, and accommodate time for family and other activities that would have been impossible in the corporate world. I’m extremely grateful for the freedom and flexibility that my business allows me. 

GIVING THANKS FOR A PROVEN CONCEPT
As a FranNet franchise owner, I have access to tools to help me with my business.  I could have never thought of the exclusive matchmaking system that we use to help match prospective business owners to franchise business concepts based on that person’s goals, passions and lifestyle.  FranNet also puts on webinars that are available to provide educational opportunities to any interested persons that I might not be able to reach on my own.  

LET ME HELP YOU FIND MORE TO BE THANKFUL FOR
Are you ready for something different? As a FranNet consultant, I can help pair you with a franchise that meets your transferable skills, personality and preferences. There might even be an opportunity for semi-absentee ownership that will allow you to keep your day job for now. 

Take a look at the local seminars and webinars listed to the right.  These events, as well as one-on-one consultations with qualified candidates are FREE!  For more information, please contact me at 313-821-5060 or mcory@frannet.com.

5 Good Reasons to NOT Buy a Franchise – From a Franchise Coach

Yes, you read the headline right! I’m going to tell you why, under certain circumstances, you should NOT buy into a franchised business concept. Why am I telling you this? For some people, owning a business (franchise or otherwise) is probably not the right life choice. And on the far extreme, those born to be purebred entrepreneurs, owning a franchise business is probably not the right choice. But for some, franchising can be the perfect choice for a new career, a different investment, or both. Here are some good reasons NOT to buy a franchise (or maybe any business):

• YOU NEED AN IMMEDIATE PAYCHECK
  Rarely does a new business start cash flowing on Day One. You need to be realistic in terms of projecting when you’ll be able to draw a paycheck, and make sure you have adequate reserves, or another source of household income to sustain you and your family for at least 6-12 months.
• YOU ARE CONSIDERING A PARTICULAR CONCEPT THAT WILL PUT EVERY PENNY YOU HAVE AT RISK
  The pressure and sleepless nights will not only be detrimental to your health, but can also lead to poor judgment and decision-making which will detract from your likelihood of being successful. If you don’t have sufficient cash reserves as a safety net, then maybe it’s probably better to pass, or find a concept that requires a lower upfront investment. 
• YOU THRIVE ON 100% CONTROL
  The key to success in franchising is consistency and adherence to a proven system. Your customers know what they are getting before they walk into the door, whether it’s a product or service. It doesn’t matter who owns the McDonald’s, you know what the Big Mac looks and tastes like. You are buying a name brand and an operating model. You cannot change that brand. “Oh, the Big Mac isn’t selling well, but let me call it the Mega Mac – that will change things!” There may be certain vendors, supplies and programs that you have to stick with as part of the franchising agreement. If you think you have invented a superior product and/or business system, then perhaps you should consider starting a business from scratch, as opposed to joining a franchise system. 
• YOU ARE LOOKING FOR A LIQUID INVESTMENT
  You are making a commitment and a significant investment when buying into a franchised business concept. This cannot be liquidated on the spot, should the need arise. Remember, just like most businesses, it may take you time to make back your initial investment or cash out if you decide to sell.
• YOU DON’T HAVE A COMPELLING REASON FOR BEING IN BUSINESS FOR YOURSELF
  It’s not enough that you’d think it’d be fun to “Be the Boss” or you have a passion for a particular product or service. Business ownership is a huge commitment, and should only by attempted by those that have the transferable skills necessary to be successful, and have sound reasoning for taking the risk, such as a resolve to never work for someone else again, or not wanting to have your money subject to the roller coaster stock market.

At FranNet, we believe that business ownership, whether through franchising or otherwise, only makes sense for the select few. That being said, we’ve seen lots of folks that have what it takes, including a compelling reason for being in business, achieve freedom, independence and fulfillment by selecting and managing a franchise that FITS their goals, transferable skills, preferences and lifestyle requirements.

If you’re wondering if you could be one of the “select few," take a look at our upcoming FREE events and webinars listed on the right. You can also contact me at 313-821-5060 or mcory@frannet.com to discuss your unique situation. We’re here to help you decide whether franchising and/or business ownership might be for you, and if so, how to go about finding the RIGHT fit. Don’t forget to also visit michiganfranchiseforum.com.

The First Franchise

Franchises have become a staple of the American economy. Just think of how many franchises you come across on a daily basis. Even if you don’t leave your house for a day, you will see advertisements for dozens of franchises on your television. 

So, where did the first franchise begin? What was it? 

Have you heard of the Singer Sewing Machine? 

Isaac Singer didn’t invent the sewing machine. But he developed a simplistic sewing machine that could be adapted to home use – getting a patent for his invention in 1851. He even sold his machines using an installment payment basis that allowed more people to purchase his machines.

The Singer Sewing Machine sales skyrocketed over 500% during a four-year period. Isaac was able to start mass-producing his product with interchangeable parts. But, how could Singer’s company repair these machines across the United States?

The solution to this problem gave rise to the first franchise system. Singer started by licensing out servicing and repairs to local merchants around the country. Later, those merchants were allowed to become regional salespeople for the machines as well. These rights were all conveyed via contracts. 

Franchises are Proven Business Systems 

Singer’s franchising system was a success because his sewing machine was a quality, differentiated product AND he developed an efficient, effective system for selling and servicing it. This is the biggest benefit of franchising; you are using a business system that has a track record of producing successful results. There are no guarantees in business ownership and entrepreneurship, but with research, due diligence, and working a proven system, you can give yourself a distinct advantage.

Another way to give yourself an advantage? FranNet. Our exclusive franchise matchmaking system and research plan helps to pair you with a business concept that best fits your transferable skills, personality, budget and lifestyle requirements. We offer choices in many different categories, to help you discover options you may not even be aware of, yet may provide a great fit for your unique profile!

Franchising Events and Webinars - ALL FREE!

Join me for one of my upcoming events or webinars, which are all listed to the right.  These presentations are educational and can help teach you more about the world of franchising.  These are events are completely free.

And, as always, all of my services and consultations are FREE!  Please contact me at 313-821-5060 or mcory@frannet.com.

Calling EXECUTIVES: Meet Franchisors Seeking YOUR Skills on THURSDAY in Madison Heights

You or someone you know may benefit from a special opportunity to Meet the Franchisors expanding in Michigan on October 23, 2014 in Madison Heights. This event is geared toward experienced marketing, sales, financial and general/operations management professionals who are looking to take control of their careers and futures by leveraging their skills and a proven franchise system to launch their own business. 

The Michigan Franchise Forum – Executive Briefing is presented by FranNet, and

brings entrepreneurial minded folks in our area together with executives of several top-notch franchise companies interested in expansion in Michigan. There will be brief presentations by each franchisor in which they’ll discuss their business model, investment level and the attributes of an ideal owner.  In addition, a franchise and small business financing expert will highlight funding options. Afterwards, there will be time for one-on-one discussions with the presenters, for those interested. 

As with all FranNet events, there is No Fee and No Obligation, however, due to limited seating, registration is RESERVED for individuals (or couples) with strong managerial and/or marketing and sales backgrounds, liquidity of at least $75K, and who are contemplating a business launch in the next 6 to 12 months.

Here are the facts:

MICHIGAN FRANCHISE FORUM – EXECUTIVE BRIEFING

Thursday, October 23, 2014

11:30 AM to 1:30 PM  (Lunch provided)

Battery Giant Headquarters

1551 E. Lincoln Avenue

Madison Heights, MI  48071

Admission is FREE, but registration is required at 313-821-5060 or michiganfranchiseforum.com.

Categories represented will include:

• Single and Multi-Unit Options
• Investments starting at $90K
• Business Consulting
• B2B Marketing Services
• Residential & Commercial Decorating
• Healthy, Fast Casual Dining
• Retail/Commercial Distribution & Recycling

In recent years, franchising has become an increasingly more viable option for investing and supplementing income, as demonstrated by industry growth numbers. According to the Franchise Business Outlook Report for 2011, beyond the traditional retail and food franchises, business services franchises alone enjoyed combined revenues of $124 billion while employing nearly 1 million professionals nationally in 2010. And the upward trend is continuing with more diverse franchisors emerging. 

Feel free to pass this information along to a friend, family member or client. Give me a call or drop me a note if you’d like more information. At FranNet, we’re franchise specialists who address career options first, and offer face-to-face consulting to those interested in exploring business ownership as one of those options. Our services are provided on a no-fee, no-obligation basis.

Please let me know how I can help. You can contact me at 313-821-5060 or mcory@frannet.com.  You can also visit michiganfranchiseforum.com.

Building Blocks to Success

“Do I have what it takes to succeed in business?” If you’ve never owned a business, it may very well be a question that’s on your mind. Based on our work with thousands of prospective business owners, here are the three fundamental elements of success that FranNet has defined.  The way to maximize your chances of success is to be as close to a ten as possible in each element.

Element #1 - Drive and Determination
How strong is your desire to own a franchise?

Element #2 - Business System
How good is the franchise system offered by the franchisor?

Element #3 – “Fit”
Will the business maximize my strengths, passions and experiences?

After examining a franchise, rate each element in a scale of 1-10 and then multiply the three scores together and come up with a total.  If you can score a 10 in all three elements, you are batting 1000!  On the other hand, a low score in any element may yield much lower results.  Try plugging a 2 in any of the boxes and do the math.

Desire for Greater Independence
While it might sound obvious to say it, the desire to own a business is perhaps the most important element.  Other words that come to mind that describe this element are drive, the desire for greater flexibility, control of one’s future, financial success, independence, etc.  Business ownership can be very rewarding, but it will not be easy.  Someone who is satisfied working for someone else will usually find the challenges of business ownership too great to ever attempt.

On the other hand, there are many stories of people who succeed against all odds because they have a strong desire to have their own business.  So ask yourself this question: On a scale of one to ten, with ten being high, how do I rate my desire for greater independence? The higher your number, the better your odds of success.

Business System
A business system is the total package for running the business: location, marketing, products, sales process, management and training.  It is even more important than having a great product!

Franchises are all about business systems.  Franchises tend to take common products (hamburgers, oil changes, etc.) and business an effective business system around them.  With the very best systems being a ten (10), you want to see that the franchise you select have a great business system.

Identifying a great system is important, but a word of caution is in order.  Prospective franchise owners may be tempted to put all their emphasis on the quality of the system without considering the third and equally important element called “fit.”

Fit
No matter how good the business system is, the business must be one that “fits” you.  If must be a business that builds on your strengths and talents.  Every franchise system has successful operators and less than successful operators.  The difference is the individual.  A business system does not run itself.  Identifying a business that fits your profile, what we call your Business Model, is just as important as the quality of the system.

As you probably guessed, the goal is to find the business that is as close to a ten in how it fits you.

Learn More About The Building Blocks To Success
Don't miss your chance to learn more about franchises at one of my FREE upcoming events and webinars about franchising.  From basics of franchising to overviews of franchised business concepts, find the event that is right for you!  You can also contact me at 313-821-5060 or at mcory@frannet.com for more information or to talk more about the building blocks to success.

To start building to success, you have to start somewhere.  Let's start together!

Let’s Start At The End, You Just Retired

It’s many years in the future, and you have just officially retired.  You just finished life as a franchise owner, and now you are ready to enjoy rest and relaxation.

Did you enjoy working for yourself?

It’s a sense of liberation being your own boss.  Your rules.  You didn't have to worry about an immediate supervisor and if they were satisfied with your work.  You didn't have to worry about your supervisor’s boss who you have maybe seen five times in five years.  I won't even bring up the corporate suits you have never met that can change your life by a simple order down the corporate ladder.

Did you take on the world and succeed?

You took challenges head on.  You didn't break.  The business you built still stands.  In fact, you may have opened up new locations.  You created.  In fact, you may have created positions for your family and truly created a business legacy.

Did you retire in a much better financial position?

Investments are never guaranteed.  But, savings accounts lose money if you consider inflation.  Stocks go up and stocks go down.  You invested in something YOU control, you invested in yourself.   You may have had to work hard.  You were successful, you made it happen.

Now lets time travel from the present to retirement as noted above?  What options can you consider to find retirement by modes noted above?

Franchise ownership isn’t something that most entrepreneurs immediately think of, but truly is a viable option to consider.  Just imagine, someone else’s successful idea and YOU GET TO USE IT.  You don’t have to worry about creating a product, service or brand.  You are being handed the ball – run with it!

Start the process of finding your vehicle to retirement today, take a look at one of our events or webinars listed to the right.  All of my events are free!  

If you have any questions about franchising or one of my upcoming events, please contact me at 313-821-5060 or mcory@frannet.com.

Michigan's Success Can Be Your Success

Last week’s passage of Proposal 1 (eliminating personal property tax on small businesses) is another shining example of the bold reforms that led Michigan to be named the Most Improved State for 2014 by The American Economic Institute and Pollina Corporate Real Estate, Inc. in their annual Pro-Business States Report. Overall, Michigan ranked no. 3 among the nation's Top 10 most populous states and no. 2 among the eight Great Lakes states.

This report mentioned specifically the Right to Work legislation and the repeal of Michigan’s MBT tax as helping to skyrocket our state’s standing.  Add this to being ranked second of the ten largest states by The Tax Foundation as being the most business friendly, being first in the nation in high tech job growth for the past three years, and having the lowest unemployment in six years means that the time could be right to start a new business. In fact, Business Services (providing services to other businesses) is one of the top growth sectors in Michigan.

No matter the industry, starting a business in Michigan can give you a distinct advantage in comparison to other investment types.   With great work being done by the Michigan Economic Development Corporation and our elected officials creating a pro-business environment, economic activity in the state is at a 10-year high.

How can someone take advantage of this positive economic climate?  Learn how at my no-cost, no-obligation events and webinars listed to the right.  Michigan's success can be your success!  Together, let's start talking about it.  To register, visit michiganfranchiseforum.com.  You can also contact me at 313-821-5060 or mcory@frannet.com.

An Inside Look at the "Hyper-Local" Business Marketing Services Industry

With Special Guests:

Tuesday, July 22nd - 3:30pm

Learn the in the outs of the only national company laser-focused on local, community-based, neighborhood businesses!

Money Mailer has re-invented marketing for local business owners by leveraging the proven effectiveness of targeted direct mail with cutting edge digital components so businesses can reach existing and potential consumers at home, on the go, with or without a physical coupon or redemption.

Attend this exclusive local event to hear more from corporate Money Mailer representative, Jeff LeBlanc, on this single or multi-unit, recession resistant model with territory available in virtually all of West Michigan.  Highlights of this opportunity include:

• B2B model with repeat customers
• Full-time, owner operator model 
• Home based and requires few employees
• Offers recession-resistant services catering to small and medium sized businesses
• Low cost investment.
• Extremely fast start-up.
• On-going and initial lead generation provided by corporate.

Hosted By: FranNet of Michigan
Mark Cory
Franchise Placement Specialist
313.821.5060 • mcory@frannet.com
michiganfranchiseforum.com

To Register:
www.michiganfranchiseforum.com
313.821.5060