Exploring Franchise Ownership: Your Journey from Employee to Entrepreneur!
Who doesn’t love the idea of being their own boss and controlling their own destiny?
Whether you’re seeking a career change, an additional income stream, or a full-time opportunity, owning your own business can offer greater flexibility, control, and financial reward. The Exploring Franchise Ownership course can help you make that vision a reality.
What You'll Learn in the Course
This course offers critical insights into the world of self-employment and franchise ownership, helping you become better prepared to find the right business, no matter which options you’re considering. We’ll talk about:
- The three primary paths to starting a business
- Different types of business ownership structures
- What franchising is and why it’s so effective
- The wide range of opportunities within the franchise industry
- How to follow FranNet’s proven research process to gather essential information
- How to reach a confident, well-informed YES or NO decision
You’ll also complete self-reflection exercises designed to help you better understand yourself and identify your ideal business opportunities.
The course is just over 2.5 hours long, divided into 12 short videos. We recommend watching it over three sessions to avoid information overload and to give yourself time to reflect, ensuring you get the most out of the experience.
Session 1: Foundations of Business Ownership
By viewing videos 1 through 4, you’ll gain critical insights into the foundational considerations of business ownership and the various types of ownership options available.
An executive overview of what you can expect to learn over the next 11 sessions.
11 min
- Career strategies; career pathways
- Why more people are exploring self-employment
- Realistic launch timelines
18 min
- Defining success on your terms
- Primary motivators driving self-employment
- Who is suited to franchise ownership
11 min
- Starting a business from scratch
- Buying an existing business
- Buying a franchised business
12 min
Session 2: Understanding the Franchise Model
After viewing videos 5 through 9, you will gain a deep understanding of what franchise ownership is—and what it is not. You’ll learn why franchising is a strong business model that helps mitigate risk, explore different ownership structures, understand where various business types fit within the franchise spectrum, and discover funding sources for franchise ownership.
- 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
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
17 min
- Full-time owner operator
- Full-time executive owner
- Semi-absentee (passive engagement) owner
5 min
- What gets financed; what does not
- Primary funding sources and programs in Canada
5 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.)
24 min
Session 3: Smart Strategies for Franchise Success
By reviewing videos 10 through 12, you’ll learn how to avoid common mistakes that lead people to choose the wrong business. You’ll also discover how to build your ideal business model and effectively carry out the most critical steps of franchise research.
- 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
12 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
10 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
12 min
The End – Thank You For Watching!
Ready to take the next step? We’re here to help you move forward with confidence.