Our consultants have extensive business and franchise ownership experience that can assist you in evaluating whether business ownership is right for you.

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BE YOUR OWN BOSS

ARE YOU READY FOR BUSINESS OWNERSHIP?

Summit Franchise Consulting, LLC is a franchise consulting company with a proven process that will save you time, help you avoid frustration, and drastically streamline your consideration of business ownership and franchise opportunities in particular. Most everyone probably thinks being your own boss is appealing, but there is so much more to analyze and consider when thinking about opening your own business.

We will help you consider the various issues and will serve as your advisor and advocate to see if you qualify. However, we are very financially oriented and one of the basic reasons we believe people should consider it is financial planning, especially retirement planning.

Some of the primary reasons a person should at least consider owning a business is income diversification and serving as a hedge against the stock market. Most mid-career employees have begun saving what they can monthly in a qualified retirement plan and probably earn somewhere in the range of 6% annual returns. Not bad. But if your projected cost of living is in the 75,000 a year range for example, for most people these accumulated retirement savings won’t last you long! Especially when you consider our aging population which extends retirement and puts more pressure on our Social Security system. And finally when you consider most employees will have some breaks in service due to business cycles, getting off the 6% investment return treadmill is certainly something one should consider.

OWNING A BUSINESS AS A WAY TO JUMP START YOUR SAVINGS AND ASSET DIVERSIFICATION

DID YOU REALIZE:

  1. The business valuation of a growing business can average 12-15% a year or more. This excludes what the owner may earn annually which could be in the range of 15-20% of revenues in some franchises;
  2. An individual’s existing retirement funds can be rolled over (ROBS) and used to invest in a business and the funds do not have to be paid back in any specified time period;
  3. Using a retirement fund to invest in a business can accelerate business returns because of the lack of or reduced debt levels;
  4. Self-employed business owners can contribute in the range of $50-60,000 a year in retirement plans on a tax deductible basis;
  5. If you own the business, fund it with a ROBS plan and eventually sell the business, the gain on the business investment can be deposited into the retirement plan and tax deferred until retirement;
So, hopefully you can see, that with careful evaluation of a business like a franchise and disciplined
use of financial techniques, one can substantially accelerate the accumulation of wealth. Let us
help you evaluate whether you should consider this approach.

WE ARE HERE TO HELP

Finding the right franchise can change your life

If you decide to own and operate your own business, franchising could be a good option. With a detailed
process, we serve as an advisor and advocate to guide you in evaluating the franchise that will best suit
who you are and what you stand for. We won’t push you, but we hope to help you avoid wasting time
money and possible frustration.

Trusted and known brands have a way of easing the franchising process. They attract customers and
employees way more quickly than launching a new concept, not to mention consumer confidence in the
name, and the benefits of a solid, established supply chain system at a relatively lower cost.

Our advisors help you take an informed decision based on the following:
  • Personal Assessment

    We work closely with you to assess your interests and lifestyle choices and requirements.
  • Resources and Capabilities:

    We support you to choose the type of franchise to go for, be it a Master, Regional, or Area franchise. We
    also make sure the franchise price and fees are fairly structured and understood and support you during
    the entire process.
  • Market Research

    The franchise market is huge and finding a perfect match can be a lengthy process. Franchisors range from early stage, emerging brands to empire brands with thousands of locations. We regularly work with some of the best franchisors and rely on a huge data bank of hundreds of them to help you shortlist the potential choices.

Franchise Ownership Criteria

Becoming a successful franchisee takes the right personality and skills, and there are factors that can
help you determine if you are suited for the job. We use a very sophisticated evaluation tool to assist
with this evaluation and matching with franchisors.
  • Motivation: 

    Most franchisors look for franchisees that want to run the business hands on. People who look forward
    to the driving the success of the business and are motivated, because that’s what differentiates them
    from salaried employees.
  • Risk Management:

    Starting your own business means taking risks, but buying a franchise reduces it. You want to fully understand those risks and mitigate them as much as you can. Choosing a franchise with a strong track
    record is important, as well as being properly funded for growth during the startup period.
  • Good Management:

    Franchisors do help franchisees with their management skills during the initial phases of the training program, though there are so many things that depend on personal abilities. Communication/people
    skills are very important, and not only useful when dealing with staff but when dealing with clients as well.
  • Operational Consistencies:

    The franchisor has an established system that is already proven to be successful. Therefore, it is important that the franchisee operate within the processes and procedures of the mother company. This ensures standardization of the franchisor’s products and services.
  • Strong Work Ethics:

    The decision to become self-employed involves a great deal of soul-searching. What prompts it can often be the desire to pursue a path other than traditional employment to build a successful organization that provides financial security, freedom and a contribution to the community.
  • Financial Stability:

    Franchises are very affordable (with relatively affordable initial investment). Additional funding can be obtained through your existing 401k, sources like the SBA and the banking industry, which reduces a great deal of risk.

FREE WHITE PAPER DOWNLOAD

Transitioning to business ownership: The facts you need to know

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AFFILIATIONS

Partnered with the best

As a Franchise Brokers Association (FBA) member, we are uniquely qualified to assist our clients in every aspect of their franchise discovery process.

Only FBA Franchise Brokers have access to the world's largest inventory of franchise information. We can quickly assess any franchise and share with you a history of its successes or failures.

Since 2008, the FBA has taught hundreds of franchise brokers on this process. This training includes over 200 hours of industry training needed to properly assess a franchise on its merits - not the slick marketing materials.

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Find Out Which Franchises Would Be Most Successful For You

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Featured Franchises

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