From the time we were little kids, adults would routinely ask, “What do you want to be when you grow up?” As kids, common answers usually included being a firefighter, policeman, nurse or maybe even as star bound as President of the United States. In many cases, the answer might even reflect whatever our parents’ profession happened to be. All of the answers are plausible at that time to a child because children have no parameters which define their lives. As we grew older, the answer to that question sometimes becomes much more simple – because the parameters defining our lives become much more complicated.
At FranNet when we pose the question of what our clients want to be, we hear exasperated but simple answers like, “I just want to be with my family more.” Or, “I want to be financially independent.” Or, “I want to be out of the Corporate Rat Race.”
So, you’ve been toiling in corporate jobs for several years. What do you want to BE when you grow up? This is known as looking for your “Encore Career.”
Don Evans attended one of my seminars in early 2013 approaching his 25th year in the corporate world. He knew it was the time to look seriously at business ownership for the next phase of his career, and was hoping to find an opportunity where he didn’t have to be present day-to-day – as he wanted to continue his ministerial studies and give back to the community.
Shortly after the seminar, Evans and his wife, Geneva, visited with me for a consultation. Working together, we defined the Evans’ personal vision and they were pleasantly surprised as I introduced them to several possible franchise fits. (even some that they did not know existed). I helped coach them through what information to look for when investigating a franchise, and even was able to provide the right additional resources to help them complete the process.
For those looking for their Encore Career, Evans suggests “Know that a business has multiple dimensions and can be stressful, so before you being your search, you need to really understand what your role is in the business and if there is something you don’t know how to do, you need to hire someone who does. Finally, set realistic expectations, know your economics and have your financial house in order.”
Although thorough research, Evans was excited about joining a relatively young company with a competitive product and a focused mission. Evans now owns Zounds Hearing locations in Plymouth, MI (opened June 2013) and Ann Arbor, MI (opened September 2013.) He is currently looking to open a third location in the Novi, MI area during the 2nd quarter of 2014. Zounds Hearing is one of the fastest growing hearing aid companies and Evans looks forward to being part of this beneficial service for many years to come.
Are you ready to meet some of the franchisors that are looking to expand in Michigan? Join me for Michigan Franchise Forum – Meet the Franchisors. This is your chance to learn about several premier franchise companies that are poised for continued expansion in our state, and to meet their franchise development executives! Tips on franchise due diligence will also be presented, and a franchise financing expert will discuss your funding options.
Categories may include:
- Light Manufacturing
- Home and Office Decor
- Retail/Commercial Distribution & Recycling
- Semi-absentee Hair Care Concept
- Professional Staffing
- Residential/Commercial Building Services
- Automotive Aftermarket
- B2B Marketing Services
- MASTER Franchising
Total investment range starts at around $70K.
The Michigan Franchise Forum brings aspiring entrepreneurs together with the local franchise experts of FranNet AND franchise development executives from an array of premier concepts eager to expand their presence in Michigan.
The program includes:
- A brief introduction to the world of franchising, and a safer approach to franchise due diligence and selection
- A brief presentation by each Franchisor, including an overview of their business model and what they look for in a successful franchise owner
- Tips on franchise funding, including use of 401K/IRA funds tax-free/penalty free.
- An opportunity for Q & A, and optional one-on-one time with any or all of the Franchisors
If you’re thinking about making a change and becoming your own boss, or looking for a better investment opportunity, this event is for YOU! Reservations can be made at
www.michiganfranchiseforum.com or
mcory@frannet.com or 313-821-5060.
April 30, 2014
3:00 PM - 5:30 PM
The Community House
380 S. Bates
Birmingham, MI 48009
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May 1, 2014
2:30 pm - 5:00 PM
Hyatt Place Grand Rapids-South
2150 Metro Lane
Wyoming, MI 49519
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