Educational Video #7 – Home-Based vs. Brick-and-Mortar Franchises

Key Differences Between Home-Based and Brick-and-Mortar Franchise Options

The latest, Part 7, in my franchise matchmaker educational video series on the franchise industry, Home-Based vs. a Brick-and-Mortar Franchise, can be found at this link: https://www.youtube.com/watch?v=SmLiCMcW8mA&t=5s

 

Kim Marinoff, franchise matchmaker, discusses franchise options
Kim Marinoff discusses key differences between home-based and brick-and-mortar franchise options

 

Here, in just over three minutes, I cover key differences between them. One of these franchise options may be right for you. You may choose one based on your personal strengths or preferences. It’s best to match your needs and interests with the right franchise opportunity for you, and this is one piece of that.

With a brick-and-mortar franchise option, you have a physical location where you will serve customers. Home-based opportunities tend to offer online services, or services where you go to meet clients at their homes or some other location.

It typically requires more initial investment and more ongoing overhead to start and run a brick-and-mortar location. But by having that physical location, placed correctly, you will get incidental traffic as visitors in the area for other reasons see and visit your outlet. The biggest risk is signing a lease.

Being in a store, behind the counter, is often more comfortable for people who don’t have strong sales skills or experience. This way, they can market their location broadly to bring people into the store. You also have the option of hiring a manager with strong customer service skills to operate the store for you, or to relieve you when you need to be away.

Home-based franchise options take less money to start, have less overhead, and less risk. There’s typically no need for inventory, cost of goods and other fixed costs. It usually takes fewer employees and provides flexibility, if you have the discipline to stick to a schedule. You can’t hang a sign on your house and have typically hours where you are open. You will need to network, get involved in local groups like chambers of commerce, and you will get support from your corporate organization to help find you leads and customers.

I hope you find it useful; that you enjoy the other educational videos to come; and that you have already seen the prior videos in the series, or you will take a look and share your thoughts with me.

Considering a franchise? Call me, Kim Marinoff, the franchise matchmaker, today!

Thank you!

Smiles,

Kim Marinoff

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Educational Video #3 – Questions to Ask a Existing Franchisees

What should you ask an existing franchisee?

This is Part 3 of my 11-part series of educational videos to teach you all about the franchise industry, and about working with a franchise consultant.

In just under four minutes, learn about the questions you mush ask existing franchisees when you are vetting a franchise opportunity.

Franchise education video 3 of 11, “Questions to Ask Existing Franchisees,” by Kim Marinoff.

Talking to existing franchisees is a critical step in the process of evaluating a franchise opportunity. I’ve honed my list of questions over the years, and they include some that you may not have thought of.

It’s important to understand the background of any franchisee you speak to. What was their background? What led them to this experience? What skills did they have, and how do their skills and experience compare to yours? Can the franchise training program help you fill in any gaps? Why did they chose this opportunity? Why did they pass on others?

Ensure you know about the training and support available to you. What is the biggest mistake they made and how can you learn from and avoid that?

How do you market your business? What are the biggest obstacles to success? What are their sales? What are expenses? What was ramp-up time? When did the business first break even? Did they hire a manager? Would you do this over again? Why or why not?Talking to existing franchisees is a critical step in the process of evaluating a franchise opportunity. I’ve honed my list of questions over the years, and they include some that you may not have thought of.

It’s important to understand the background of any franchisee you speak to. What was their background? What led them to this experience? What skills did they have, and how do their skills and experience compare to yours? Can the franchise training program help you fill in any gaps? Why did they chose this opportunity? Why did they pass on others?

Ensure you know about the training and support available to you. What is the biggest mistake they made and how can you learn from and avoid that?

How do you market your business? What are the biggest obstacles to success? What are their sales? What are expenses? What was ramp-up time? When did the business first break even? Did they hire a manager? Would you do this over again? Why or why not?

Get my complete list of Validation Questions to Ask Franchise Owners” at this link, as a PDF.

If you have questions, please comment here, or send them to me via email at kim <at> a2bfranchiseconsulting.com.

Learn more about me and my services, find valuable resources about franchising on this website, and check back here on my All About Franchising blog as I introduce the other eight videos in my educational series.

I’ll also be posting news here about my clients, news from the franchise world, address other industry topics, and I always welcome your comments and questions.

Thank you!

Smiles,

Kim Marinoff

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Welcome to All About Franchising!

Welcome to my Blog, All About Franchising!

I’m Kim Marinoff, and my business is A2B Franchise Consulting.

Check back here regularly. I will be creating and posting content about all aspects of the franchise world.

I’ll be introducing and posting links my 11 educational videos on franchising here in the coming weeks, and also embedding them on the Videos page here on my site, and on my YouTube channel.

I’ll also be looking to answer any questions you may have about the world of franchising, how to become a franchisee, what’s the best franchise for you, and more. Please send me your questions, and join the discussion by commenting on any post you may find here that is of interest.

Thank you!

Smiles,

Kim Marinoff

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