How to Open a Franchise

THE ULTIMATE GUIDE

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 You’ve decided to leave your nine to five job and become your own boss. You’re going
to open your own business. This career shift is a huge undertaking and isn’t for the
faint of heart. You’re ready to take on this challenge, but where should you start?

If you don’t have any experience in owning your own business, you may want
to consider owning a franchise. Franchises allow you to be your own boss while
alleviating some of the risks associated with striking out on your own. This guide walks
you through everything you need to know about owning a franchise in three simple
steps: choosing a franchise, financing your franchise, and running your franchise.

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 STEP 1 Owning a franchise allows you to have all of the benefits of being
your own boss while still having a safety net reducing the risks
associated with owning your own business.

CHOOSING THE FRANCHISE THAT’S

CHOOSING A FRANCHISE RIGHT FOR YOU
If you’ve decided that you want to own a franchise, which franchise
should you choose? Our advice is to choose a franchise that aligns
Buying a small business can be intimidating, especially since 56% of with your passion and personality.
businesses fail within the first five years. What should you do to ensure Everyone wants to go to work and do something that they love. If
you aren’t one of these failed businesses? One way you can increase your you’re going to invest in a franchise, it should be in something
chances of success is to buy a franchise as your small business. Why you’re passionate about. Maybe you would love to work in a creative
should you buy a franchise over a small business and which franchise should and professional environment where you can help other businesses
you choose? to grow and thrive. If so, you could open a franchise in the
advertising industry.
WHY SHOULD YOU OWN A FRANCHISE?
Before we discuss how to choose the franchise that’s right for you, let’s first In addition, you should look at your personality. Are you a morning
discuss why you should own a franchise. Owning a franchise mitigates many person or an evening person? Do you want to work a standard nine
of the issues inherent in owning a small business. First, franchises already to five workweek or are you fine working weekends and holidays?
have brand recognition and a strong customer base. This allows you to pull If you don’t want to work evenings and weekends, you should avoid
customers into your individual store because they already trust the franchise. franchises in the food industry. However, if you’re a morning person
and prefer working standard hours, then a franchise in the advertising
Second, franchises already have a proven business model. With a proven
industry may be a better fit for you.
business model, you skip all of the mistakes you would have made if you
were figuring out a business on your own. WHY CHOOSE EMBROIDME?
Third, franchises offer an incredible amount of support to their franchisees. Do you want to work in a professional environment where you can
They offer training to help you get the experience you need and you always create eye-catching advertisements and help other businesses to grow
have someone you can turn to when you need your questions answered. and thrive? If so, then EmbroidMe may be the franchise for you!
Even if you would love to work in this type of environment, why
should you choose EmbroidMe over any other franchises, including
those that offer a similar work environment?

The first reason is that EmbroidMe appeals to the advertising market,

a market that is continuously growing and expanding. The U.S. is
expected to spend over $189.38 billion on advertising in 2015
with 23.9% of that money spent on print advertising. By owning
a EmbroidMe franchise, you will tap into this reliable and
thriving market.

In addition, you should choose EmbroidMe as your franchise because

EmbroidMe has the knowledge and experience to help you succeed.
EmbroidMe is the largest sign franchise in the world. With a proven
track record of success with nearly 900 stores globally and more
than 25 years of experience in sign franchising. With EmbroidMe,
you have access to all of the knowledge and experience to help your
store be a success.

Finally, you should choose EmbroidMe because we have a proven

track record of helping individual stores become a success. The
average EmbroidMe store generates over $700,000 in sales a year.

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 STEP 2
FINANCING YOUR
FRANCHISE

Now that you’ve decided on which franchise you want to own, how will you buy it? Most ADDITIONAL HELP
franchisees take out a loan to buy their franchise. However, in order for the loan to be Even if you don’t have enough money for the initial equity
approved, you need to prove that you have enough money to make the initial investment. injection, you may qualify for additional help. If you’re a
How much money do you need for this loan to be approved and what assets will be included minority or a veteran, there are many programs in place
to evaluate how much money you have available? to help you become financially independent and own your
own franchise.
HOW MUCH MONEY DO YOU NEED?
Most lenders require that you have 25% of the total investment in liquidity before they will For example, the EmbroidMe VetFran Program offers
approve a loan to finance your franchise. For example, if your franchise costs $25,000 training, financial assistance, and industry support
(total investment), then you need $6,250 (25% equity injection) in liquid assets. to veterans. Veterans even get a discount off of the
EmbroidMe franchise fee based on their years of service.
WHAT IS LIQUIDITY? • Less than 11 years: 10% Discount
Your liquid assets are all of your assets that can easily be turned into cash. • 11-20 years: 25% Discount
Your liquid assets include: • 20 or more years: 50% Discount
• checking/savings accounts
• stocks
• bonds
• credits of deposit
• retirement accounts
• equity line of credit

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 STEP 3 FOLLOW THE FRANCHISE’S PLAN
RUNNING YOUR Even if you don’t have any experience, the franchiser has years of
experience and has worked out all the kinks for you. Why then would

FRANCHISE you mess with a winning formula? Follow their business plan and you
will see the same success they have seen.

After you’ve gained a few years of experience, you may want to make
minor adjustments to your business plan. However, learn what sets
your company apart from others and make sure that your franchise
Now that you’ve chosen your franchise and you can finance it, you can now keeps that as an integral part of how you do business even when you
buy your own store. However, how do you run a franchise and make sure make adjustments.
that your store is a success? Below are the top three things you should keep
in mind when opening your new store. ALWAYS THINK ABOUT THE FUTURE
Instead of simply focusing on opening one store, look to the future and
HIRE GREAT EMPLOYEES plan for growth. Where do you want to be five or ten years from now?
Seventy percent of the buying experience is based on how the customer Do you want to own a chain of franchises and multiply your earnings?
feels they are being treated. Hire great employees who will treat your If so, don’t limit yourself and set things up to only be able to handle
customers exceptionally well. Your team needs to leave a positive and what you are currently doing.
memorable impression on your customers if you want your store to become
everyone’s favorite destination. This means hiring staff members who Be an entrepreneur and look at the big picture. This takes commitment
understand the importance of excellent customer service, great work ethic, and vision. By thinking ahead in this way, you will be prepared to
and are just generally easy to work with. make the changes and adjustments that are necessary when your
business starts to grow. In addition, keeping the big picture in mind will
Sounds simple, but sometimes it is hard to find people who have all of help keep perspective when making hiring, management, and other
those characteristics. important decisions.

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After becoming an expert in franchising, you’re ready to go out into the real world
and buy your franchise. You now know why franchises are a good investment, how to
choose and finance your franchise, and how to keep your franchise running smoothing.
Perhaps you’ve even realized that EmbroidMe is the right franchise for you.

EmbroidMe is here to help you every step on the way to your success. We want to
see you succeed and have the thriving and profitable business of your dreams. With
more than 25 years of experience and more than 900 stores across the world, let us
put our knowledge and experience to work for you.

If you’re interested in owning a lucrative and rewarding

business, contact EmbroidMe today!

Sources:
• http://www.emarketer.com/Article/Total-US-Ad-Spending-See-Largest-Increase-Since-2004/1010982
• http://www.helpscout.net/75-customer-service-facts-quotes-statistics/
• http://www.statista.com/statistics/272314/advertising-spending-in-the-us/