The Educated Franchisee Insider Newsletter

The Educated Franchisee
The How-To Book for Choosing a Winning FranchiseJune 2010
Author ImageGreetings!

I hope you had a wonderful Memorial Day.

As you know, I place a great deal of importance on having an exceptional team of advisers around me.  In order to be a great business person (or a great person) you need great advisers.  This could be an accountant, lawyer or coach.  It could also be parent or pastor.  You have to choose your advisors carefully and listen to their advice with both your head and your heart.  Doing the right thing is often hard.  It takes courage to overcome your fears.  Your advisers can help you do what is necessary.

A few weeks ago I attended a Business Rich Seminar put on by Ford and Barb Kyes (Action Coach) and their team.  What a powerful day.  There were too many great points to recap everything in this brief format.  It was definitely a day that 'gets you thinking out of the box'.  A couple of items you may want to think about. 

  • Life by Design or Life by Luck - It is completely your choice.
  • We need to stop saying 'I did not have time to do it.'  We all have the same amount of time each day.  We do what we think is most important and don't do the things that we deem less important. Are you spending your day on the truly important things?  Let's start saying, 'I chose to spend my other priorities.'  That is the honest answer.
  • You get what you focus on.  Focus on success and your likelihood of success goes up.  Focus on failure and you will, most likely, fail.  How you choose to focus your energy is critically connected to your potential for success.
  • Parkinson's Law - Work Expands so as to fill the time available for its completion.

This month I will read The Art of Intentional Living by Jim Rohn.  It comes well recommended by one of my coaches so I am looking forward to it.  I will let you know how it goes.

Have a great June.

Best Wishes,

Apple Image
Rick Bisio
Apple ImageStrong First Quarter Results Tempered with Caution

NEW YORK-As retailers close the book on a strong first quarter, they're sounding a common refrain: Hope for a steady consumer-spending recovery carries a note of caution.

The results so far this year have been encouraging. About two-thirds of the nation's retailers have turned in earnings that topped analysts' expectations, with profits up a healthy 26% on average from a year earlier, according to Thomson Reuters.
Link ImageMore Older Americans Start Their Own Business.
YOSEMITE, Calif. - After toiling for three decades in
finance, it wouldn't be surprising if 65-year-old
Patrick Althizer kicked back and lived off his savings
and Social Security.

But with a spirit not ready for sedentary retirement - as well as college costs for two daughters - he veered off to a new career path: leading shutterbugs through the stunning waterfall areas of Yosemite National Park.

Althizer has embraced his new vocation with enthusiasm. He plastered decals that promote his firm, Photo Safari Yosemite, on the windows of his white Jeep Cherokee, networked with the folks who run local tourist attractions, and at his daughters' behest, joined Facebook to promote his firm, which takes tourists to the best photo-taking spots in the national park.

Go to USA Today, Click Here
Link ImageCrooked Loan Agents on the Rise.
There are reputable loan agents who provide valuable services to lenders by connecting them to prospective borrowers. Some take the role a step further and assemble information that's needed to complete the loan application, or fill out and submit the whole application for the lender's approval.

Still, scam loan agents have long been a scourge of the Small Business Administration. In recent years, as sources of capital have dwindled for entrepreneurs, a new crop of con artists has surfaced.

The SBA issued a notice in March warning business owners about fraudsters who promise quick or guaranteed delivery of SBA loans. "Due to the tightening of the credit markets, we have recently seen more complaints where agents are trying to extract exorbitant fees based on the claim they can get the loan approved," says Glenn Harris, spokesperson for the Inspector General's Office, which investigates SBA fraud.
Apple ImageBanks Begin Return to Fee Based Income.

Amid new limits on some of the industry's most profitable practices, banks are turning back to familiar money-making strategies: annual credit card fees, monthly checking account fees and product bundling.

The developments are part of a new era of consumer banking, analysts say, one with more fees - but also, more safety nets and disclosures for consumers.

As measures take effect this year to overhaul credit card and overdraft practices, "What you're essentially doing is squeezing the balloon, (so fees) are going to pop up somewhere else," says Bart Narter, senior vice president at Celent, a bank research and consulting firm. Yet, ongoing regulatory scrutiny means that new fees rolled out by the industry will generally be "more fair," and unlike overdraft charges, won't disproportionately affect the poorest consumers, Narter says.

The Book
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There is a reality in life.  Greater knowledge drives better decisions and better decisions reduce business risk.  Franchising is all about risk reduction but not all franchises are low risk.  The Educated Franchisee is designed to empower you.  By following the advice and guidance presented in this book you will recognize high quality franchises and confidently pass over those that are not.

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Author - Rick Bisio