The Educated Franchisee Insider Newsletter

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

Hard to imagine it is already November.  Thanksgiving is around the corner, the holidays, then 2011 before you know it.   Are you ready?

Life is a funny thing.  It is something that happens to you when you are not looking.  Before you know it the years have gone by, the kids are grown and we are looking back asking 'Did I live a full life?'   So what can you do to make sure the answer is a simple, conclusive 'Yes'.

Step one is knowing what you want.  Do you know what you want?  It is impossible to know if you are moving the right direction unless you know what you want.  Sometimes I call this a personal or family vision statement.  This is a critical first step and will be what you measure against.  It is also the first step in our new Franchisee Workbook that will be published this winter.

Step two is to break things down into manageable bites.  If you want climb Mount McKinney, start with the hill in your neighborhood.  Mountains are big when you look at them.  The key is to know that you want to end up at the top.  Then it is all about the focus required to follow each step with another.  Soon you will look back and be surprised at the progress you have made.

Finally, realize that life is not a sprint.  It is not about doing a 'big deal' and 'making a killing'.  Life is about doing a lot of small things right every day.  It is about getting back up, dusting yourself off and trying again.  It is also about dealing with fear and the little voice in our head that holds us back.  Be persistent and trust yourself.  You are stronger than you know.

Good luck and have a wonderful November.

Apple Image
Rick Bisio
Apple ImageBetter Credit Conditions Improve Lending

Oct. 19 (Bloomberg) -- Khalique Rehman, who runs My Pain Clinic in McDonough, Georgia, got a $1.8 million loan this month from Atlanta-based Private Bank of Buckhead to purchase a new building and construct offices.

"I was surprised because everyone said it would be so difficult," said the 46-year-old physician, who plans to double the space of his eight-employee practice and hire another doctor and possibly a nurse. "I am really happy."

The freeze in bank credit is beginning to thaw after two years, signaling more support for the U.S. recovery.

Apple ImagePolitical Climate Make Tax Planning hard

As the year starts winding down, accountants encourage their small business clients to make an appointment to discuss tax planning for the old year, and for the new one. The uncertainty of the economy, and whether Congress will extend tax breaks that affect business owners, is making that planning harder than usual.

Accountants say it's a good idea to hold those planning meetings as soon as possible. But Jeffrey Berdahl, a certified public accountant with RLB Accountants in Allentown, Pa., said owners should keep in mind that any decisions made now might need to be rethought depending on what happens in Washington with the economy during the next two months.

"You might have to do it all over in December," he said.

Still, owners should meet with their accountants to discuss how the business is doing, and to make at least tentative decisions based on where the company needs to go over the next year.

Go to ABC News, Click Here
Apple Image  Hiring Family or Friends - Boon or Bust?
NEW YORK - Donald Trump did it. So did
entrepreneur Mike Repole and nutritionist Oz

Though the businesses they run are dramatically different, all have entered the same, often treacherous arena of hiring friends or family to help grow their firms.

Employees with a personal connection to the boss "are usually more committed" to the company, says Andrew Keyt, executive director of the Loyola
University Chicago
Family Business Center. They are often considered trustworthy lieutenants because of that familiarity.

Yet, if those relationships are not well managed, they can result in decayed company morale, severed friendships and frayed family ties.

Apple ImageWho is Profiting During This Economy?

This is an important week for many investors. This week scores of corporations release their earnings reports. As you may have heard, most companies are posting near-record high profits.

The Wall Street Journal reports that the US Commerce Department is predicting corporate profits will be up 26.5 percent from a year earlier, which comes off of a second quarter year-over-year rise of 38 percent.

Yet, unemployment is still at an all-time high and some companies are even laying off workers despite these record profits. Why?

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