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Donald Cranford

September 22, 2008

Growing up fast. Growing up smart.

It might seem a bit early to be thinking about summer vacation with the kids just back to school, but the truly enterprising parent might be intrigued to learn about the many summer business camps on offer for kids.

Here’s the idea: rather than have kids sitting in front of their Playstation all summer, why not have children learning about business in a more informal environment, like a summer camp? And let’s face facts: the likelihood of your child working in business twenty years down the road is somewhat better than he or she being the next Michael Phelps or Lisa Leslie. A bit practical know-how here and there might going a long way.

The American Camp Association has noted a big push towards business-related camps in recent years.

GirlsInc: Partnering with investment giant Goldman Sachs, Girls Inc. operates a corporate camp for young female entrepreneurs for one week every summer. Girls Inc. is a national non-profit youth organisation designed to empower young women.

Julian Krinsky Camps & Programs: There’s everything here from day camps at Bryn Mawr University for 4-6 year olds to pre-college at Princeton for teens. A great number of exciting things to do for young people in the greater Pennsylvania area.

Kidscamps.com: Finally, search the national database at Kidscamp.com for the perfect opportunity for your child, whatever the age or the location.

Have your child make the most of his or her summer next year.


Franchise Direct Team

September 8, 2008

In rude health: charting the rise of health care franchises.

To the ambitious businessman or businesswoman, it seems anything can be franchised.

That might be the lesson to take from the expanded growth of the health care franchise industry in recent years. Time was, your local doctor could be relied upon to make house calls for a biting flu, or worse. And while the accessibilty of health care is a politically divisive subject in this year’s election, many entrepreneurs have thrived by bringing the doctor to the people.

So these days, specialist elements of the health care sector are experiencing a resurgence thanks to the benefits of the franchise model.

The rise in health care franchises follows along the familiar franchise story lines: members of niche areas of the health care industry- optometrists, chiropractors, etc. – have found support for their business by signing up with franchises that have broad popularity rather than testing the choppy waters of independent practice.

One of the main advantages of running a health franchise for people trained in medicine is that medicine can again become their primary focus. Under the umbrella of a franchise, doctors can take off their ‘businessman’ cap, as people within the franchise take care of any of branding concerns.

Another advantage of franchising for health care professionals is that customers are attracted to consistent pricing. In independent practice, the cost of routine care can veer wildly from doctor to doctor. Franchises offer fixed pricing from store to store and consumers, whether they are looking for a Big Mac or an eye test, find that reassuring.

Still, health care franchises are not exactly a new industry: estimates put the healthcare and senior care industry around $70 billion. Optometry continues to be perhaps the easiest and one of the most popular health care areas to franchise. Pearle Vision was the first optometry firm to franchise itself and still continues to be a national force. In recent years, there’s also been a boom in spinal care and massage franchises.

There’s probably been no better time to explore purchasing your own health care franchise. In all, Franchise Direct have quite a diverse array of franchises opportunities available. If you think opening your own health care franchise might interest you, why not consider a move with Franchise Direct?


Donald Cranford

September 4, 2008

Step into Stanford’s Entrepreneurial Corner

We all need a bit of advice when starting or running our own
business. Well, why spend thousands on corporate seminars now that Stanford University has created its own online entrepreneurial center?

Stanford Entrepreneurial Corner presents a wide array of essential material for entrepreneurs and people considering buying their own franchise. Watch video seminars and listen to podcasts from the like of business leaders like Carly Fiorina and Larry Page and Eric Schmidt of Google, with topics touching on everything from ‘The Dynamics of Change and Fear’ to the ‘Five Biggest Mistakes That Entrepreneurs Make’.

Knowledge is power, so inform yourself today.


Little Miss Franchise-It

September 3, 2008

Don’t Have Buyer’s Remorse: Look Before You Leap

If you are making the all-important decision to go through with investing in a franchise, definitely make sure to do your homework before you start a business. In fact, some simple research can get you on your way to business success!

  • Make sure you take a careful look at the Franchise Disclosure Document. That should detail everything you need to know about the franchise, and you can then make sure to ask the franchisor about those topics. This should give you a good idea of how rigid the franchisor is about their operating rules. Also consult your lawyer on the document.
  • Talk to the franchisees. There’s no one else that can give you the insider scoop on what day-to-day life will look like for you once you invest in the franchise. So make sure you ask these franchisees the right questions so they can give you straight answers about whether or not they are actually turning a profit, and what the start-up costs really were.
  • Go to the head office of the franchisor. That will give you an idea of what the operation is like, and also you will get to meet the staff. You’ll be getting an in-person impression of what the franchise is like, which can prove valuable when starting your own franchise. Try to glean how responsive and helpful the support team is, and whether or not you will really have someone at the end of the line to help you should you run into a glitch.

Once you have some of your basic questions answered, make sure you are not just passionate about the business, but that the numbers and what franchisees are saying match up. That means the Franchise Disclosure Document, the existing franchisees and the head office support team all pointed toward the same conclusion. This needs to be a smart business decision that thoroughly weighs the franchise opportunity from all angles. Then, if you’re ready to take the leap, be prepared for hard work… and some business success!



 

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