Joel LibavaIn Part 3 of this 3 Part series, I will finally get down to the nitty-gritty!
{No offense to the commercial cleaning master franchises out there!}
Yes, it’s about the money. When it comes to Master Franchising, the upfront $$$$ cost is high.
The income potential is $$$$ high. The equity building potential is $$$$ high.
Having just stated those 3 facts, why don’t more folks invest in a Master Franchise?
Because the commitment level is high!
Master Franchising is not for most people. If you are someone who has always done things "big", then maybe, just maybe this franchise model should be explored. But be prepared. You really are the CEO of your own franchise company. You will start off with a staff, including an office manager, and a salesperson or two, at a minimum. You will be signing a lease. You will be requesting a large line of credit, to keep the cash coming in, to start your company off, right. You will feel the pressure to sell franchises, so you can quickly expand the concept, receive some franchise fees, and start your royalty stream. You will work harder than you probably ever have.
This could be a dream come true for you, however. You are finally running the show, and it is your money on the line. yes, there is a lot of pressure. If you have great people around you, and you believe in and follow the franchisor’s plan, you most likely will be successful.
The rewards can be huge. A real Grand Slam Home Run! Imagine owning an area the size of Cleveland, Ohio, or Tampa, Florida. You have 100 or so sub-franchisees, who have each payed you from $10,000-$50,000 up front, and who pay you a royalty stream every month, for as long as their franchise agreement is in place. Maybe you even financed a few of them. Income comes from financing also. Maybe products are sold, and even extra services are offered. Yes..multiple streams of income.
That could be a real nice life…………..
