Business ownership offers numerous benefits — from financial rewards to flexibility to the ability to control your own destiny. However, sometimes the appeal is obscured by the uncertainty of the prospect.
The franchise business model offers aspiring entrepreneurs an alternative path to traditional ownership. By providing a tested, proven model upfront, a franchise can mitigate some of the risks of a start-up. While not a fit for everyone’s goals, the franchise concept offers an ideal solution for many prospective owners.
Below Frederick-based franchising consultants, franchisees, and franchisors share their experience and insight to the model:
Franchise Consultant: FranNet
Richard Bock
What is “Franchising”?
Franchised businesses are proven systems that enable you to be in business for yourself, but not by yourself. In return for a licensing fee and ongoing royalty payments, franchisees obtain training and guidance in starting a business as well as marketing, sales and operational support today and as the market environment changes. Those resources can significantly increase a franchisee’s likelihood of success.
Who Should Consider Francishing?
Anyone who wants a greater sense of control of their career, their financial security and their personal life. If you are out of work or just tired of helping someone else realize THEIR dreams, a franchised business could help you fulfill your own.
Best piece of advice you would give to someone considering the journey
Most franchisors don’t require industry experience: they can teach you how to run the business if you are willing to follow a proven system. Because this provides a prospective franchisee with so many opportunities, I recommend people focus on what they want the business to do for them, not what they will do for the business! The first step is to define what you want your life to look like and then find a franchise that will give you that. You can make money in a lot of franchises; focus first on life goals!
What role does a consultant you help play in the process?
I have three roles with my clients. First to provide information about the pros and cons of franchising, then to help them match their personal goals to 3-4 franchises that would be a good fit and finally to be their coach during the 3-4 month long due diligence process to evaluate which (if any) of the choices is right for them. And I do this at no cost to my clients. Franchisors pay me to find individuals who will be successful in their system.
Frederick Franchisee: Camp Bow Wow Frederick, MD
Owner, William Randall
How did you decide to franchise?
After selling the FNP I wanted to start or buy another business with my friend Brad Paradise and my partner Erin Marr. Erin had read about Camp Bow Wow years ago in an in-flight magazine so suggested that we look into it. We immediately found that it was a highly rated franchise and a very fun sounding business. So we researched the industry and the business model. We looked at the demographics and competitive landscape and determined that Frederick would be perfect for a Camp Bow Wow and that Camp Bow Wow would be a great fit for us.
We did briefly discuss starting something similar on our own but we liked that the franchise had worked out a very successful model. They gave us guidance on the best place to locate, design, and build the Camp, and how to best market and successfully ramp up the business. None of us had worked in the pet care industry before so the training that Camp Bow Wow provided helped to ensure that we knew what we were doing before we opened.
What has been the most rewarding part of the franchise ownership experience?
One of the best parts of being a part of a franchise model is all the support we receive from other owners in the system. Whenever we have a question we not only have the franchise to ask but we also have a built-in network of other business owners who fully understand and appreciate the issues.
Advice for others considering franchising:
Don’t open a franchise during a pandemic! Just kidding. We have two big things that helped us. First, during diligence we spoke to a number of different Camp Bow Wow owners, both successful and unsuccessful. We learned a lot from those conversations that helped us make the right decisions. Secondly, and most importantly, if you are going to open a franchise business follow the model. A good franchise is successful because they have worked out all of the details. When we see franchisees struggling to be successful it is generally because they deviate from the model established by the franchisor.
Franchise Consultant: Franchise Search Partners
Jason Blough
What qualities are key for owning a franchise?
The ability to follow a proven system and willingness to let the franchisor show you how other franchise owners have been successful with their organization. After all, the core of what you’re buying with a franchise is a proven successful and repeatable business model.
What advantages does the franchising model provide to potential owners?
You hear the phrase “In business for yourself but not by yourself” all the time in franchising. As cliché as it sounds, its true. As a franchise owner you typically have a shorter and less uncertain road to profitability because you’re buying an already successful business model. Its just up to you to follow the system as taught and duplicate in your territory. Franchisees also tend to benefit from economies of scale created by the franchise company.
What are some key things to consider when researching the franchisor?
The number one thing is validation. In other words, are current franchisees happy? After learning about everything the franchise has to offer from a corporate representative, then you will want to speak with current owners to validate what you were told. Hear what its really like to own that franchise from an unbiased viewpoint. If both accounts align then you’re onto a good one (assuming their business model meets your lifestyle goals).
What role can does a consultant help play in the process?
We match people to the franchises that best meet their personal criteria. With thousands of franchise concepts available we save people time and consult them from an expert view. We also know which franchise brands to steer clear of. Plus, we’re not only franchise consultants but we also own 7 franchise territories between 2 franchise brands ourselves. So we can help you evaluate potential good matches from a unique insider perspective.
Frederick Franchisee: MinuteMan Press
Owner: Kate Cusato
How did you decide to franchise?
There was an appeal with franchising in regards to training, the systems in place, and support for a first time entrepreneur coming from a background with no practical business experience. / We saw the evolution and opportunities in the printing industry. There are various subsets of our business that overlap and are intertwined. The traditional printing for businesses is still there as well as multiple mail offerings such as Direct Mail, Every Door Direct Mail (EDDM), and integrated direct mail that ties our customer’s mailing to multiple social media and web-based avenues. Wide format, signage, apparel and promotional products are also in our day-to-day operations.
What has been the most rewarding part of the franchise ownership experience?
Multi- generational family involvement is the most rewarding thing. And providing a service that supports as well as partners with Frederick area businesses, local government agencies, and the non-profit sector is every bit as rewarding.
Advice for others considering franchising:
Attend a few Franchise Expos. Research the franchise and the sector you’re considering. Visit multiple locations and talk with multiple franchisees before deciding. There are no guarantees of success. The work is harder, the hours longer and the expense is greater than you expect but if you treat your employees and customers fairly you will develop hundreds if not thousands of relationships. That’s a pretty nice reward!
Frederick Franchisor: Soldier FIT
SoldierFIT, a hugely successful fitness company, was originally founded in 2013 with two locations including its headquarters on Gas House Pike in Frederick. In the years since, the Frederick-based company has rapidly expanded by adopting the franchise model. In addition to new corporate locations, the business now has eight franchise locations across the country. Learn more about the experience from the company’s franchise partners below.
Interested in starting a business in Frederick? Contact the City’s Department of Economic Development at 301-600-6360 or business@cityoffrederickmd.gov to schedule a kick-off meeting today.