Boost Business Coaching » franchise

Why sell your business? Gearing your Kiwi business up for franchising (its quicker and simpler than you think!)

Jeff — Thu, 15 Jul 2010 05:24:55 +0000

Many people these days want to have their own business. People might also be looking to start their own business but don’t have any idea about how to go about it.

In this scenario, franchise businesses are the solution to their problems. Today there are franchises in all industries. To purchase a franchise, you have to go through three basic steps. These three steps are interview, purchasing the franchise and training. The confusing process of gearing your business up for franchising can be simplified if you take each of these three purchaser steps individually

The Interview

There is an interview process for almost all franchises. You should interview to determine if the potential franchise holder is capable of being a franchisee. Usually franchises will prefer a person who has some business background. But others are not much concerned about the relevant background. The secret is to ensure that your business provides good training mechanisms and excellent business systems to turn even the most novice person into an effective team member.

The Purchase

After this, the next step is that of the actual purchase. You may consider financing a portion of purchase price with a deposit for your purchaser. This purchase price should include the franchise fee, the equipment costs and other ongoing royalties. The franchise fee is usually used to provide the purchaser with training in the use of brand name. Almost all franchises charge ongoing royalty fees. This can be a fixed priced or a percentage of revenue. This is also charged to use the brand name and the business practices of the franchise business.

Training

As a last step, after the purchase is complete, a training date is set. Many franchises have a 1-2 weeks training program. During this period you should aim to train the franchisee in your business operations including systems and processes. Marketing training can also be given to the franchisees in the training period. The marketing techniques vary from industry to industry. Lets face it you already have the knowledge of what techniques work the best in that particular industry.

From the above information, you can see that franchising is not that complex at all. Franchising your business operations, marketing and keeping score systems is a great way to get returns on your capital without giving away your business. Get advice and seriously consider this as an alternative way of growing your return on your capital today

3 Action Steps

Draft a list of pros and cons versus straight out business sale

Consider your franchising options – talk to your accountant, lawyer or Business coach

Contact BOOST and order a $899 BOOST Business Franchise lite programme and let us guide you through the decision making process

Jeff Smith

The Business Coaching Guy

BOOST Business Franchising Lite Programme

Jeff — Thu, 15 Jul 2010 05:22:15 +0000

For $899 + GST you get;

1. A Fully Structured In-depth Capability Assessment interview on the Business.

2. Comprehensive business report outlining recommendations based on the Capability Assessment and your franchising opportunity

3. A Benchmarking report which outlines your competitor’s turnover, Gross Profit, Staffing etc. This is very handy for businesses to compare where they are positioned in their industry

4. An extra BOOST Business Coaching session identifying some immediate actions, tactics and strategies to achieve some early BOOST results.

5. Access to your BOOST coach for up to two weeks.

6. 12 Month access to your own online project space with a record of all documentation, notes, action check lists, templates, your business report, benchmarking report and ‘How to’ manual on any of the strategies or tactics discussed.

7. A FREE USB Stick with Financial Templates such as Break Even analysis, Cashflow Forecasting, Profit & Loss Forecasting etc.

Business should take advantage now by contacting and registering for the $899 BOOST lite programme - Below

Click here to order and pay for your Franchising Lite Programme

Fathers in Business – systemising your small business

Jeff — Sat, 17 Apr 2010 08:41:29 +0000

Systemise your business spend more time at home doing the real business

In the last article we looked at some tips for fathers in business.

One of the tips was about systemising your business so that you as a business owner can get away and spend more time with your family without the business relying on you at all times. As a Father this is a natural desire. Systemising your business is often seen as a panacea and easy fix. Then reality is though that there are a series of stages that a small business goes through to actually reach this level.

This includes fixing and working on various parts of your business before investing in creating business systems

The problem with most small businesses is that they cannot afford to hire salaried business development experts. Small businesses realise that to get some expertise on board means that they could then grow their businesses effectively which means that they could then afford the expertise to grow their businesses… yes it’s a classic catch 22 situation.

Systemising your small business

The secret is to outsource this type of work to people who can show you the templates and then coach you through the process. Outsourcing someone to assist you implement processes and systems means that in effect you are adding three ‘departments’ onto your business.

1. Your marketing department – Making sure that every obstacle that stands in the way of getting your services / products sold are overcome

2. Your operations department – The sole purpose of this department is to investigate and implement ways of doing your work quicker, cheaper and better.

3. Keeping score department – What you cant measure you cant manage – keeping track of everything from finances, compliances, strategic planning implementation, systems implementation, staff etc etc.

On top of this you have someone holding you to account for accomplishing milestones moving your business towards one that is more profitable and less hands on for you the business owner.

Fathers, we owe it to our families and children to spend as much quality time as possible. If you are not in the luxurious position of working from 9 to 5 and then being able to walk away from work every day then you owe it to yourself and family to put in small business systems and processes so you can start doing this.

Contact BOOST today

BOOSTS Wellington Business Coaching Lite $299 – Try before you buy

Wellington Business Coaching

Jeff — Sun, 06 Dec 2009 08:01:01 +0000

BOOST Business coaching has expanded its services to Wellington

Wellington Business Coaching

The Business Coaching Guy AKA Jeff Smith master franchise BOOST Business Coaching says ‘There appears to be plenty of inquiry coming from Wellington Businesses looking for simple action oriented Business assistance’. ‘ The thing about BOOST Business Coaching is that we have a reputation for working with businesses on a practical level – in other words we tend to leave the fluff, academics and psycho theory to other business coaching companies to peddle’.

The BOOST Business Coaching programme has been available in Wellington for the past few months however we are now looking to enhance Wellington Business Coaching by offering the BOOST system to a local provider or someone looking to join an accomplished company.

We are looking for someone who has previously been in small business and who can talk to Wellington Businesses on a one to one ‘down to earth’ level

Jeff Smith says “The Wellington master franchise is available now and we would love to talk to that special business coach in Wellington who has a good track record in growing small businesses rapidly.

Wellington Businesses have been especially keen to take on our $299 BOOST Coaching Lite programme which gives small businesses a good feel what coaching can do for them and how much they are likely to profit from having a good business coach on their team.

Contact BOOST Business Coaching

‘Many small businesses tell us that having BOOST Business Coaching on board is like having a bolt on Marketing, Operations and Finance department’

If you are in Business in Wellington or anywhere in the Wellington Region give us a call and we will get your Wellington Business Coach on the job right away.

Wellington Business Coaching - $299 BOOST lite programe

Can Wellington Business Coaching help me franchise my business?

10 Things you should consider before starting a business in New Zealand

Jeff — Wed, 02 Dec 2009 08:42:38 +0000

You can just do it in NZ
1. Do what you like or love to do
2. Is the family on board?
3. Like a bad marriage its not so easy to walk away
4. Working to exhaustion everyday is not good
Its Game OVER – If you run out of cash - SO don’t
1. Be MISERLY on expenses in the very early days
2. Sort finances first – cashflow forecast at a minimum
3. Aim to pay Bills and Tax on time
Nice people everywhere – want you to succeed
1. SO don’t go there alone
2. If you don’t have a track record – its 99% certain that no-one will give you any money
3. Chamber / Biz Office – Brochures, Tax, Business Planning templates
Plan of attack – Fail to Plan - plan to fail
1. Be clear about your own limitations
2. Childcare – Work Space
3. Don’t give up your day job if possible
4. Don’t wait till its perfect – start
Market Research, Market Research, Market Research
1. Can you get some commitment from potential customers
2. Who are your potential customers
3. Network, be nice, alliances, planned word of mouth, co-operate,
Have the end in Mind at all times
1. Ask yourself- What is my ‘Exit Plan’
2. Become intimate with measuring money – Equity, Income, Profit, Cashflow
3. When established talk to a Business Growth expert about using leverage to grow ‘rapidly’
Have a ‘hit by the bus” plan
1. Protect personal assets
2. Risk management
3. Insurances – Property, Life, You
Your new bestest buddies
1. Don’t skimp on experts -accountants, lawyers
2. Mentors, Coaches
3. The Bank
Be a marketing smarty pants
1. Be different from your competitors
2. Look like a pro – fake it till you make it
3. Definition of marketing – removing all obstacles that stand in the way of you and your customers
4. Can you bootstrap it?
Remember this quote – “Don’t be too meek, modest or half hearted about your aspirations – Life is not a dress rehearsal”

Resources

www.boostbusiness.co.nz

www.business.govt.nz

www.ird.govt.nz

www.poriruachamber.co.nz

www.wellingtonbusinesscoaching.info

www.bni.co.nz

Business Ideas

www.springwise.com – Business Trends

http://www.entrepreneur.com/businessideas/index.html – 100s of Business Ideas

Three tips for fathers running businesses in New Zealand

Try BOOST Business Coaching Lite – $299 (Is business coaching for me?)

Three tips for Fathers running your own New Zealand business

Jeff — Thu, 19 Nov 2009 03:24:49 +0000

After years of holding down steady jobs many Fathers take the leap these days to go into business for themselves.

The reasons for this are many, set your own hours, control your destiny, get paid what you’re really worth however it would be fair to say that these days’ fathers also see spending more time with their Children as a major factor in making this decision

Self employment, on the face of it, offers fathers flexibility and time to spend with families and children. Fathers also see self employment as a way of giving them those choices about Housing, Schooling and Lifestyle aspirations.

The reality for many business people is different to this. Long hours, being at the disposal of clients, cash flow problems and the other stresses of running businesses often compete for time and ends up compromising families and relationships.

It takes a strong man to take on board all these issues and then be with their children 100% fully engaged at the end of a 12 hour day with 4 hours of book work once the children have gone to bed. But this is what we as fathers must do. Fully engage our children – that doesn’t mean going over board – but more an attitude of letting your children know that when you are with them you are fully attentive. This includes engaging with them rather than trying to make phone calls or staring at your laptop, answering questions (over and over again) and doing your fair share around home to give mum a hand.

Fathers and Business

To fulfill the important job of fatherhood there are 3 things you should be doing on a continual basis in you business

Automate the business as much as possible – What tasks can be dome automatically without you. Outsource where possible
Systemising roles, jobs, marketing, and operations – as much as you can. Make the business run without you as much as possible. Its never to early (or late) to start doing this now
Take a day off every week. Business problems and issues will wait for you

The real Business is fatherhood. Dads your business whilst important is just a means to an end. Make it enjoyable and as stress free as possible, especially while they are young and think you are pretty cool.

Try BOOST Business Coaching LITE – $299 – 200% ROI

Systemise your Small Business

Jeff — Thu, 12 Nov 2009 01:49:36 +0000

Contact us using the link below to have a free booklet sent to you on the specific steps required to systemise your small business.

Click Here

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Writing a Franchise Manual for your business

Jeff — Wed, 28 Oct 2009 10:31:23 +0000

BOOST can assist you with writing Franchise manuals for your new franchise.

Read how a BOOST Coach can assist you in franchising your business

Quick Quotes – 24 Hour Turnaround – CALL NOW 021-566535 or click here to get a FREE quote to write a franchise manual for your business

Can a good Business Coach assist you franchise your business

Jeff — Thu, 08 Oct 2009 11:02:25 +0000

Business Coach

When you’ve been in business for a few years, gotten through the initial roller coaster ride you naturally look at ways to grow your business either through expansion or a franchising model.

Plenty of business owners toy with the idea of franchising. After all every industry seems to be represented in the franchising model. On the face of it Franchising can seem to offer rapid business growth, expansion and instant brand recognition.

Franchising is a viable option for many businesses. Is yours? Some businesses seem to adapt well to franchising whilst others struggle. What characteristics have we seen in a business that makes them more franchisable?

Simple Business Model

The more basic a business model the easier it will be to duplicate and franchise. In other words if you have an easy to run business that is successful then you should be able transfer it to another party. Your model and operations of course should be documented in an operations manual. You should start today to start documenting your procedures and processes. If this seems too hard start creating flow charts for each process.. This is the key to absolutely any franchise. If it can be duplicated, it can be franchised.

Your suppliers

Apart from your basic business model your suppliers need to be available in whatever part of the country you hope to begin franchising in. Some products, especially something that is perishable, may not be available in different areas of the country. Other excellent suppliers that serve you well locally may have no interest in expanding or supplying you outside of your current region. This may have serious impacts on products and services that you sell

Fees

Ensure that your franchisors will be able to still make a profit after your fees and royalties are taken into account. Maybe you could offer periods free of fees to entice potential franchisors.

There are a number of other considerations when it comes to franchising. Your business Coach should be able to advise you on these. Contact BOOST if you want to be shown how to go down the franchising route. Especially if you are a small business wanting rapid growth.

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BOOST Wellington business help

Jeff — Wed, 30 Sep 2009 23:35:15 +0000

BOOST October Biz Tips

Welcome to BOOST Business Coaching – Small Business Tips October 2009

1. You are probably inviting your customers to take their time to pay your accounts - Why?

2. Google Local - The new yellow pages are you listed?

3. Have you seen our .99c Recession Toolkit – Guaranteed to work everytime

Try BOOST Business Coaching lite – $299

Jeff Smith

BOOST Business Coaching

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