The Educated Franchisee Insider Newsletter

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

Most of you know that I feel strongly about setting a positive, independent example for our children.  This month I would like to discuss why.

A little history.  Growing up I had a father who owned his own business.  At the dinner table we discussed staffing issues, on Mondays we did payroll, on Saturdays I helped at the business.  This was all I knew growing up.  It was my reality.  My father never came home and said, 'I may be downsized'.  He never worried about what his 'boss' was thinking.  He never had to deal with office politics or angle for a promotion.  Of course, some years were better than others but I always knew the buck stopped with my dad.  This is my image of a 'dad'.  Even though my father did not do this by design, his choice regarding lifestyle and actions created a very independent, confident young man.  I always knew that one day the buck would stop with me - just as it did with my dad.

A number of years ago my wife and I decided that we wanted to set the same example for our children.  We want them to grow up independent and confident.  As a result, my wife and I both have our own businesses.  Even though our children are only 6 and 8, they are already talking about what business they want to own when they grow up.  Of course, nobody really knows what the future holds for our children.  The most we can hope for is that by setting the right example, we will be able to provide a reservoir of strength that our children can tap into as adults.

The first article in today's newsletter is from the New York Times and it discusses how to raise entrepreneurial children.  If this topic is important to you, you will really enjoy the article.

Have a great October.

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Rick Bisio
Apple ImageAre You Raising An Entrepreneur?  5 Lessons To Teach Your Children

People love to argue about whether entrepreneurs are born or made, with many feeling that success in small business is somehow genetic. My husband has five siblings. An entrepreneur raised all six kids, yet only one became a small-business owner. I had no exposure to business growing up, yet here I am on my second venture. Rather than calling it genetics, I think it has more to do with children of entrepreneurs being the beneficiaries of an early education in business.

My 6-year-old is starting to figure out how the world works, and where we all fit in. He knows that his mom and dad run a business together, but I can see that it doesn't always add up in his mind. Other parents have jobs. They work for somebody, or sometimes one parent works and the other stays home. He doesn't meet many kids with parents like his. I guess we're not the norm, which is something children pick up on at a young age.

Apple ImageThe Art of Maximizing Your Credit Score
A major league pitcher dreams of throwing a perfect game. High schoolers eyeing the Ivy League study furiously in hopes of earning 2400 on the SAT. Meanwhile, Chris Peplinski is pursuing his own brand of flawlessness: an 850 credit score.
The 37-year-old stay-at-home dad from Rogers, Ark., has already nabbed 813 on the FICO scale, the credit scoring system most lenders use in sizing up potential borrowers. That ranks him above more than 82% of Americans and comes with a big payoff: It entitles him to ultralow rates on loans, saving him tens of thousands of bucks over a lifetime.

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Apple ImageHow Do Tax Rates Really Affect Business Owners?

NEW YORK ( -- Republicans say raising taxes on the wealthy would cause small businesses to pull back on hiring. Many leading Democrats say that's nonsense. Who's right?

The answer isn't black and white, despite politicians' confident assertions to the contrary. It's more like multiple shades of gray.

Here's a breakdown of the debate.

Apple ImageFirst Ever - US Census Gathers Franchising Data.

Reporting comprehensive data on franchise businesses for the first time, the U.S. Census Bureau found that franchises with paid employees accounted for 10.5 percent of the nation's businesses.

The Census first began collecting data on franchise businesses in 2007 and published that information today. With 295 industries studied, of the 4.3 million total establishments surveyed, 453,326 were either franchisee or franchisor-owned businesses.

The first-ever Economic Census Franchise Report also found that franchise businesses accounted for nearly $1.3 trillion of the $7.7 trillion in total sales for these industries; $153.7 billion out of the $1.6 trillion in total payroll; and 7.9 million workers out of a total workforce of 59 million.

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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