Absentee Ownership. Hosted by Susan Strong 77

Transcription

1 Absentee Ownership Hosted by Susan Strong 77

2 Welcome! we will begin the webinar at the top of the hour Part-Time or Absentee Owner Businesses Find out the benefits and facts

3 Welcome and thank you! Agenda Introduction Benefits of Absentee Ownership Finding A Business Model That Meets Your Goals Wrap and Questions

4 Your Presenter 35 years of business experience in Human Resources, Marketing, Finance Independent franchise owner of The Entrepreneur s Source and Advicoach, starting in August of 2009 Coach to hundreds of executives, small business owners, employees, and job seekers to help them identify their greatest skills Third Generation UC Berkeley Alumna, Class of 1977

5 How Do You Stay Ahead in the New Career Economy? You need to adopt more of a Free Agent mentality Resiliency/pro-activity/skill enhancement need to become part of your lexicon Continue to develop skill sets and seek education that makes you more versatile, flexible and balanced vs. focusing exclusively on functional or company-specific skills Choose employers that offer substantial and flexible education and training benefits or develop them yourself Diversify your revenue streams beyond the job People can no longer count on a job as their only/primary source of income Investments (real estate, stocks) as part of the solution Business ownership as a career alternative; it s now easier than ever

6 3 Types of Business Models to Fit Your Lifestyle and Business Goals Full-Time Part-Time Semi-Absentee Absentee

7 Full-Time Business Ownership Owner-Operator Model Full-Time On-site, leading and managing the day-to-day. But what about alternatives?

8 While full-time business ownership is the first that comes to mind, it isn t the only way Especially if you are thinking. I love my job and don t want to quit, but something on the side might help fund my retirement or kids college I have a lot of commitments with the kids, sports, and PTA I m not sure that I can let go of a regular paycheck until the business gets ramped up I love adventure and hard work and I can do it all with some good help! We ve got some cash to invest and business will return more than traditional saving alternatives

9 Part-Time Business Ownership Executive Model Part-Time Business Ownership Off-site, leading the strategy. Hiring staff to manage the day-to-day

10 What Are the Responsibilities of a Part-Time Owner? An individual who wants to continue their employment either full-time or part-time Someone who can oversee the business up to 25 hours per week, possibly with the help of a spouse Someone who only wants to work in the business up to 25 hours a week Someone who is interested in having incremental income and build equity

11 Absentee Business Ownership Off-site, leading the strategy. Hiring staff to manage the day-to-day Absentee

12 What is an Absentee Owner? An owner who is not involved in the day-today operation of the business. Usually has a manager who oversees the business. Supplemental income and equity appreciation of the business

13 Most Common Characteristics The owner may have full-time employment. The owner may have another business that they devote their full- or part-time attention to. Someone who wants to earn incremental income and build equity in having another business or number of businesses. Someone who wants to invest in business ownership versus other investments to achieve their financial goals. The owner may live in another geographic area.

14 Keep job Family can run it Income Stream Start small & evolve Into full-time Diversify Build add l equity

15 Is Passive Ownership Possible? Yes, absentee- or semi-absentee is possible It is done by individuals and corporations every day. Even NFL players.

16 Peyton Manning The quarterback signed a deal to purchase 21 Papa John's franchises in the Denver area two weeks before voters in Colorado approved an amendment legalizing recreational pot use in the state. The jock stereotype cannot hold up in the face of business savvy like this.

17 A lower risk option because most people maintain their full time job. For example, the owner can open one unit and then additional units in the future.

18 Many franchisors business models are set up exclusively for the absentee or part time owner.

19 Many individuals find that they have a much higher rate of return on business ownership than other types of investments because

20 Higher Returns It is a proactive versus reactive investment It can have a greater potential for return than an uncertain stock market. It can have a greater return than the volatile real estate market Profitability on a monthly and yearly basis along with equity appreciation Investment levels generally run from $100,000 to $350,000.

21 Here are just a few examples

22 What is Franchising? Over 4,000 franchises in 75+ industry groups 41% of all independent businesses Contributes <$1.5 T/year to the economy Generates one out of every seven jobs New franchises every 8 minutes

23 What Do I Get for My Money? Proven business system Initial training Ongoing support & training Business software Marketing campaigns and materials Exclusive marketing territory Equipment Site location assistance Build out assistance Future vision & operational growth plans Possible financing assistance

24 But It IS about identifying a business that: Most perfectly matches your skill set Most perfectly matches your budget Most perfectly matches your income, lifestyle, wealth, and equity goals

25 Find a Coach Step 1 Step 2 Step 3 Step 4 Get to know you complete online questionnaire Executive Assessment Complimentary Coaching Session Coach and Client clear on goals, dreams, lifestyle, income, wealth, equity Coach identify business opportunities to match on client goals vehicle to deliver on those goals. Research and Validation Identify Financing options (including how to pay yourself through start-up) Compare models against goals 95% of our clients discover options that they would not have explored on their own No cost for our placement coaching services

26 Summary The top trends in our job economy point to one all-important objective: you need to explore optional plans for your future TODAY! Having the right information is one of the crucial keys to your success Franchising is one of the time-tested models of success for people desiring to manage the risk of business ownership Partnering with a coach offers many benefits to discover possibilities and options that you never would have never discovered on your own

27 The Entrepreneur s Source (TES) Who We Are and What We Do Small business coaches; franchise expertise 230 offices nationwide For over 30 years educating those considering business ownership Coaching help clients explore self employment options; stay focused on goals Bring the right fit businesses to clients AIM & FAST On-Line Programs Use education, assessments and on line business courses No cost for our placement services "A coach is someone who tells you what you don't want to hear, who has you see what you don't want to see, so you can be who you have always known you could be." - Tom Landry, Coach Dallas Cowboys

28 Our Services Are Free To You Call Us To Discuss What You Are Trying To Achieve Susan Strong The Entrepreneur s Source (510) sstrong@esourcecoach.com linkedin.com/in/smstrong