Franchisor Spotlight: Moran Family of Brands

FranchiseWorks presents Moran Family of Brands, the next franchisor to be featured on our Franchisor Spotlight Series. As a leading resource for prospective entrepreneurs, FranchiseWorks is dedicated to providing information that any individual can use to find the right franchise or business opportunity for them.

Moran Family of Brands has a clear mission statement of: “creating customer experiences that result in satisfaction and loyalty.” Our Vision is to: “Achieve a strong franchise system through positive franchise relationships and working as strategic partners with our franchisees allowing our brands to gain market share and increased profitability”. Our core values are based on the word DRIVE which stands for : Dedication, Respect, Integrity, Vision and Enthusiasm.

Interview with Pete Baldine, President of Moran Family of Brands

Check out the interview with Pete Baldine as a podcast episode!

How has your company evolved since it got its start in 1958 with Dennis Moran?

Dennis Moran started in the automotive business in 1958. However, Moran Industries was formed in 1990 when he acquired Mr. Transmission, which was the beginning of our entry into the franchising world. After multiple acquisitions of regional companies throughout the 1990’s we had the task of establishing best practices that would be consistent throughout all of the companies we acquired. That meant learning different things from each of the acquisitions based on their successes and formulating that information into a solid operating system and training program to insure consistency throughout the system.

In the early 2000’s we began to focus more on organic growth. That is also when we developed our co-branding programs allowing franchisees to open 2 or 3 franchises under the same roof. This has been a huge differentiator for us as it allows franchisees to scale their business without increasing their overhead structure.

What options do candidates have when looking into your franchise opportunities?

This is where it gets exciting since a candidate can do single brands for Mr. Transmission, Milex Complete Auto Care, Alta Mere Automotive Outfitters or SmartView Window Solutions. They can also utilize our co-branding options and do a Mr. Transmission / Milex center or a Alta Mere / Smartview co-brand. In a few instances we have even tri-branded Mr. Transmission / Milex & Alta Mere under the same roof. Mora Family of Brands truly offers franchise candidates the most innovative options in the automotive after market. They also have the option of adding brands at a later if they choose to start out with only one brand

How many franchised units do you have?

We have a total of 120 locations with 27 sold units in the pipeline

Are you available in Canada and Internationally?

We have two international developers in Northern Africa that we signed this year. We are also targeting international development in the Middle East and Asia. We are currently in the process of registering in Canada as well.

What are some competitive advantages of your business?

Moran Family Brands is the only automotive franchise opportunity that can provide all aspects of vehicle repair, maintenance and service to their customers. We are able to maintain a competitive price while offering the driving consumer the most comprehensive model in the industry. For our franchisees this translates into a thriving business model capitalizing on a strong and growing industry opportunity.

We also offer great options for customers to upgrade the vehicles they are keeping for over 11 years through Alta Mere Automotive Outfitters.

• Our franchises have the capability to provide the technical service for any automotive issue that most independent repair shops don’t have the technical training or equipment to address.
• Our franchises are able to offer competitive prices, while meeting or exceeding the services, of new car dealership service departments.
• Our franchises provide a one-stop-shop experience with the most comprehensive repair model available while maintaining a complete history of a vehicles repair and maintenance records.
• Our franchises operate within a proven business system, and necessary tools, that provide a strong competitive advantage in the market place. 
• Our Alta Mere franchisees offer exciting “upgrade” products such as window film, paint projection film and a full line of electronic and safety upgrades that customers “want “ to spend their money on.

All Moran Family of Brands opportunities can be combined into a co-branded business.  In fact, we were the originators of co-branding in the automotive aftermarket.

Why co-branding makes sense:

•Comparable overhead expense to a single location but with multiple revenue streams

•Provides the opportunity to reach more customers with greater frequency

•Building a “one-stop” location translates into customer loyalty and tremendous repeat business

•Establishes the franchisee as a complete auto repair facility that can meet the customer’s needs which provides a significant competitive advantage.

•While customers are meeting their maintenance and repair needs , they can also purchase the most complete line of accessories and upgrades through Alta Mere.

Co-Brand Fee = $5,000.00 for each additional brand, after the purchase of an initial brand.

What is the desired background/qualities of your ideal candidate?

• Management / Sales Experience

• Independent thinking, with adherence to process

• *Net Worth of $250,000 for automotive brands and $150,000 for Alta Mere/Smartview

• Liquid Assets of $60,000

• Entrepreneurial spirit

• Committed to superior customer service

• Significant Drive

• Confident, ambitious, and self-assured

• Committed to building a successful legacy

• Automotive / Technical experience helpful

What they want:

• Leverage past experience

• Provide opportunity for others

• Build legacy business

• Pride of business ownership

• Contribution to their community

• Financial growth opportunity

• Solid, Proven Business Systems

• Control financial and lifestyle expectations

• Franchisor support and guidance

• Proven concept, system and process

• Comprehensive support system

• Belong to a community

What we want:

• Driven to succeed

• Hands on attitude

• Passionate about helping others

• Open-minded and collaborative

• Confident, ambitious, self assured

• Subscribes to MFB philosophy and values (D.R.I.V.E)

• Utilizes resources available

• Honesty and integrity

• Dedication to the system and brand

• Positive demeanor

• To be financially qualified

• Business experience, automotive experience is not necessary

• Takes accountability for their own success

 

What do you hope for the future of Moran Family of Brands?

At Moran Family of Brands we hope to achieve good steady growth that is established on quality service to our customers and quality support to our franchisees.  As we gain market share we hope to assist our franchisees in gaining greater profitability, and the achievement of the goals they established when they entered the business.

Are there any milestones, events or awards you would like to highlight?

Two great milestones from 2015 were our first two International Master franchise agreements

Another milestone for 2015 was the signing of a new area developer for the Houston Texas market.

What are ways to learn more about Moran Family of Brands and how to become an owner?

For our franchise candidates we have an outstanding virtual brochure that helps us take a candidate through our entire 6 step sales process.  It highlights some great information about our company, our industry, and why the automotive business is such a good opportunity in todays market.  It includes many PDF’s, videos and audios from our support staff and our franchisees. For the broker community Ben Reist or Pete Baldine are available at any time to discuss our models and candidates in detail. 

Ben can be reached at 630-608-3065       breist@moranbrands.com

Pete can be reached at 708-297-2240      pbaldine@moranbrands.com

Franchisor Spotlight: Pet Supplies Plus

FranchiseWorks presents Pet Supplies Plus, the next franchisor to be featured on our Franchisor Spotlight Series. As a leading resource for prospective entrepreneurs, FranchiseWorks is dedicated to providing information that any individual can use to find the right franchise or business opportunity for them.

Franchise 500 Ranking – 2013-2015

Franchise Times Top 200 – 2014 and 2015

VetFran Discount of $6000 off franchise fee

At Pet Supplies Plus, we’re crazy for pets, too. With more than 320 franchise and company locations in 26 states, Pet Supplies Plus is America’s favorite neighborhood pet store. Each location offers a wide array of pet food, pet products, grooming services and animal expertise all at a great value, allowing customers to spoil their pets even more. Friendly, knowledgeable staff get to know each pet and their owner by name and provide playful store experiences to remind them just how fun it is to own a pet. Pet Supplies Plus stores are large enough to house an incredible variety of food and equipment, yet small enough to still feel neighborly. 

Interview with David Leonardo, Senior Vice President of Franchising with Pet Supplies Plus.
Check out the interview with David Leonardo as a podcast episode!

How has your company evolved since the first store opened in Redford, MI in 1988?

When we first opened in 1988, we had some pretty revolutionary ideas:

• Locate our stores in neighborhoods, so they were convenient to get to.
• Build on a smaller, more efficient footprint (5,500 to 10,500 sq. ft.) to make our stores easier to shop and less expensive to run.
• Locate our stores around distribution centers so that we could offer customers a wider selection at more attractive prices and quicker inventory turns.
• Over the years, those ideas have served us well. We can tout our wide array of pet food, supplies and toys, services like grooming, self-service pet washes, and adoptions. But what really sets us apart is the retail experience itself. We're neighborly, we're knowledgeable, and our customers trust our advice.

Neighbor's loved Jack and Harry's novel retailing concept. Within five years of opening their first Pet Supplies Plus pet center in Redford, Michigan, they had 30 locations. Soon, they were joined by a third partner, Harvey Solway, and the business continued to grow. In September 2010 PSP was bought by a private equity firm called Irving Place Capital. Today, there are over 320 Pet Supplies Plus pet centers in 26 states. Our goal is to grow the PSP brand significantly over the next 5-years and beyond.

What are some common misconceptions about being an owner in the pet care industry?

There seems to be three misconceptions:

1. "Since it’s retail, I’ll need to be in the store all the time.” Not so. Our “investor model” allows franchise owners—particularly the 65% who are multi-unit owners—to supervise remotely while an on-site operations manager runs the business day to day.
2. “Retail is a grind.”  Many retail concepts have earned that reputation. At Pet Supplies Plus, it’s not a grind; it’s a grand time. We’re Petcentric—we love pets and pet people. Our neighbors come in our stores happy and leave happier. We make the shopping experience FUN: fun for our team members, our neighbors and their pets. (Yes, pets are welcome in our stores.)
3. “You can’t make any money—not fast food money—in the pet business.” The October 2015 issue of Franchise Times lists its Top 200 Franchise Chains by worldwide sales. Pet Supplies Plus ranks #102 noticeably ahead of many well-known food franchises. And according to the ITEM 19 in our 2015 Franchise Disclosure Document financial performance representation, the average annual gross sales of a Pet Supplies Plus store is $2,548,565*. Compare those numbers to any other franchise to see if you can make money as a Pet Supplies Plus owner.

What options do candidates have when looking into your franchise opportunities?

• Single unit – franchisees focus on the day to day operations; staffing, marketing, inventory management, customer engagement, etc.  This is more of a hands-on roll.
• Multi-unit – franchisees focus on working with their store managers and growing their business.  Emphasis on marketing, financial management, real estate and growth. Each store manager handles the day to day operations.

How many franchised units do you have?

148 franchised units and 175 company units.

What are some competitive advantages of your business?

• Buying power of 320+ stores allows the stores to offer a greater variety of products at lower prices
• Smaller stores and local ownership allows for a much greater level of customer service and engagement, building relationships with our neighbors and their pets
• Smaller stores mean lower rent, lower labor costs, lower prices to neighbors, higher profits.
• Twice the selection of natural, holistic and organic foods.
• According to the American Pet Products Association report, pet industry spending is at an all-time high with overall spending for 2015 expected to exceed $60 billion.
• Recession resistant - More families are getting pets and they are spending more on them as pets take an increasingly more prominent role in our lives.
• Convenience, value and fun.

What are the desired qualities of your ideal candidate?

• Must align with PSP mission and culture: to be America’s Favorite Neighborhood Pet Store. 
• Has strong values, is hard working, fair, honest, and caring. 
• Should have prior retail experience customer service, food service, banking, or other service based industries. 
• Has an intrinsic, service orientation and a natural desire to provide excellent customer service.
• Train and lead their employees in providing and meeting exceptional service standards. Is 
• comfortable marketing their products to customers using a product knowledge expert approach.
• Multi-Unit franchisees should have strong management background with a history of consistent career growth achieving or exceeding business goals.

What do you hope for the future of Pet Supplies Plus?

Our goal is to grow the PSP brand significantly over the next 5-years and beyond.

What are ways to learn more about Pet Supplies Plus and how to become an owner?

Visit us at www.pspfranchise.com, or contact us directly:

Steve Olson

Franchise Development Manager

734.793.6532 | solson@petsuppliesplus.com

David Leonardo

Senior Vice President, Franchising

734.793.6608 | www.pspfranchise.com

*Item 19 of PSP Franchising, LLC’s 2015 FDD provides that $2,548,565 is the average gross sales achieved by 119 franchised PSP stores during the measurement period beginning 12/29/13 and ending 1/3/15. Your results as a new franchisee may differ. Of the 119 franchised PSP stores, 44 PSP stores, or 37%, exceeded the average annual gross sales.

Franchisor Spotlight: Meet Good Feet

As a leading resource for prospective entrepreneurs, FranchiseWorks is dedicated to providing information that any individual can use to find the right franchise or business opportunity for them. FranchiseWorks is excited to present our Franchisor Spotlight series, which will highlight various franchisors and their mission.

For over 20 years, The Good Feet Store has been dedicated to improving the quality of life for people who are experiencing varying degrees of pain -- often severe-- related to the problems with their feet.  For some, simply being out of pain is the end result. For others, it is restoring them to an active life of work and play. Our core belief and unwavering commitment is to improve the quality of people’s lives, to live the life they love—without letting their feet get in the way. 

Interview with Neal Weiss, Director of Franchise Development

How has your company evolved since the first store in San Diego, California in 1995?

Over the past twenty years, we’ve served over 1 million people within the US and Internationally. We’ve continued to refine the quality of our products and our skills. Building off of our four initial styles of foot supports, Good Feet has expanded to over 20 different styles, and manufacture them ourselves, here in Carlsbad CA.

What is your number one selling product?

Our number one selling support is the Classic. It’s the support that started Good Feet and has literally changed people’s lives. Although the Classic is our number one selling support, our extensive selection of arch supports is designed to accommodate the customer's lifestyle, shoes, and activities.

How many franchised units do you have?

Good Feet currently has 106 locations throughout the US and growing.

Are you available in Canada and Internationally?

Yes, The Good Feet Store franchises are available in both Canada and Internationally, with prime territories available both domestically and globally.   

What are the competitive advantages of your business?

The Good Feet Store is the largest retail arch support franchise, Low Investment Cost, High Margins, Patented Products; we’re our own manufacturer, manufactured in the US, monthly advertising fund with no franchise fees. We’re experienced, proven and established and our free, no-obligation, personalized fitting is at the heart of our business.

What is the desired background/qualities of your ideal candidate?

-A passion for helping people, ambition.

-Financial capability, business management and/or marketing experience.

-Health/Wellness industry, retail sales experience.

-Ability to lead, yet follow a system, self-confidence.

-A strong belief in Good Feet products.

What do you hope for the future of Good Feet?

Further establish our leadership position in the retail arch support industry. Expand globally and continue our commitment to improving the quality of people’s lives – two feet at a time.

To learn more about The Good Feet Store, visit their blog and website!

The Truth Behind Franchise Business Ownership

What does it take to own a franchise? In many ways, the responsibilities of a franchise owner align quite similarly with those of a small business owner. Even though they are essentially the same, the franchise owner starts of with a few more advantages.

There are many franchise concepts and some of them offer a type of product or service that connects directly with the customer. Depending on which franchise you choose, you could be very involved with the public on a daily basis. If you don’t have the patience or personality to deal with complaints, demands and the occasional attitude, then you might want to look for a franchise that does not need you on the front lines. Carefully understand the outline of your responsibilities and don’t settle for something you aren’t passionate about.

As an owner you need to make sure you have a strong team of employees, so you need to prepare for effectively training and motivating your team. The franchisees’ training and on-going support will come from the franchisor; however, the franchisee must pass on their knowledge and use it to better their individual operation.

You’ll also need to consider the marketing of your business. Your franchisor may have national or regional advertising, which they will handle. However, you may be also tasked with leading local marketing activities to actively promote your business. Are you prepared for this?

You will also need to plan for additional costs in starting of your business. There are the expenses of the initial investment, but keep in mind the royalty fees, equipment costs and the expense of keeping your business running day to day. Don’t set yourself up to fail — money is important and so is time. You will be pulled a lot of different directions and you will need to dedicate a great deal of time on your business so your business can get up on its feet the right way.

Simply put, a franchise owner is a leader with an inability to quit. They take initiative, communicate effectively and are pro-active. Expect to fill this role wholeheartedly and you’re setting yourself up for great success.

Are you ready to be your own boss? Perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. FranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!

Did You Lower The Bar For Your Business?

You’ve done it. You successfully own a franchise or new business and the first three years have passed without too much trouble. Now 10 years…15…20, each with its own unique opportunity to keep your business perspective fresh and exciting. How do you stay motived and keep your passion thriving?

You’ve already overcome one of the hardest obstacles about business ownership, which is finding a business you find fulfilling and from which you gain a level of satisfaction. When your career matches up with your passions, it is hard to dread the workweek. Yet, that doesn’t mean you’ll wake up refreshed and ready to smell the roses at each ding of the alarm. While your emotions may fluctuate, you can’t lower the bar in your business relationship. It’s a constant give and take and your standards should remain resolute even in the roughest times.

• Realistic Goals: The world around you is rapidly changing, which means your business will be affected. Don’t set yourself up for disappointment, track your progress and celebrate the small milestones as well.

• Embrace Competition: Nothing like a good challenge to awaken the competitor within. Face it, we all like to win and a little healthy competition will encourage you to innovate and explore. Lacking in competition? That’s great! Challenge yourself. Let your friends and coworkers speak their mind and keep your business from becoming stale one way or another.

• Your Business is a Result of Your Efforts: That’s right. Your intentions, actions, efforts will show in your business. It is ideally an extension of you, after all. Make sure you put your best foot forward, or the lack of motivation will start to show in your work.

• Self Mastery: Continue to use the courage that got you to this point to achieve your dreams. Fear, if left unmanaged, will slowly deteriorate your business. Protect your future with courage and self-belief. Master your fears and always say you can do better. In turn, appreciate what you have accomplished and forgive your mistakes.

The bar, so to speak, is never set. It will be reached and repositioned, but only if you’re pushing professional (and personal!) boundaries. Always defy your limits and keep your passions alive.

Do you feel that you’re ready to get started? Let FranNet connect you with the business you’ve been looking for. Ask us about a free consultation. Our purpose is to connect the dots and make the transition from corporate employment to the freedom of business ownership manageable and safe.

Consider the Legal and Financial Aspects of Owning a Franchise

As with any major investment, the best decision can be made only if you’re as informed as possible. You need to spend a good deal of time researching, interviewing and exploring your options -- and a part of the process is determining what the legal and financial aspects are.

As your focus gets more serious with the idea of owning your own franchise, you need to genuinely look at your financials and propose a budget with which you feel comfortable. Research the many options you have, like the Self-Directed 401K option or loans. Financing a franchise may be considered a lower risk investment, mostly because franchises have proven track records and an established trademark and brand. That being said, it is still crucial that you prepare an in-depth business plan and explore a range of options so you commit to the one that makes the most sense for your budget.

The two main documents you must be aware of are the Franchise Disclosure Document (or FDD) and the Franchise Agreement. The FDD provides prospective franchisees with specific information about the franchisor, the franchise system and the agreements that lead to an informed decision. The law requires franchisors to show you the FDD before any franchise is sold. The Franchise Agreement goes into a little different detail than the FDD, specifically on the relationship between the franchisee and the franchisor.

There are various matters that need to be observed in your decision, which is why FranNet suggests you seek the advice of an experienced franchise attorney and financial advisor. They will help you decide the appropriate investigations for any franchise you are interested in and will offer exposure for the legal documentation that will be used to implement the transaction.

Are you ready to get started? Perhaps it’s time for a free consultation . FranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!

Can You Really "Do It All?" Promises of Productivity.

Amber Naslund, the SVP of a social intelligence company has a blog called, “Brass Tack Thinking.” In her post titled, "My Crazy Productivity Secrets” she took on the issue of being productive. Her words provide helpful insights and tips to help manage your time.

What it is that's keeping you from being productive? It could be anything, a loss of focus, lack of motivation, anxiety or even unclear priorities? Most likely, the main thing keeping you from being productive are your choices and using your time wisely.

“My choices reflect what’s important to me, and what makes me happy. That’s fluid and changes to an extent, but I’m devoted to a thriving career, a growing business, and excited about passion projects I have on the side. But there is no magic system. Stop looking for it.” - Amber Naslund.

Let's get it all out there, what do you need to do and what to you want to do. Be honest with yourself! It is easy to blend the two, eventually what you say you need turns out to be what you want. Of course, sometimes they do align. But when finishing a movie or playing with the dog becomes what you need to do, you’ve crossed into procrastination territory and the excuses will overflow.

“I don’t get the “busy as a badge of honor” thing. All that tells me is that you need to learn to manage your time better or get your priorities straight with yourself or the people you work for. Working insane hours is not an achievement.” - Amber Naslund.

At this point you have realized that more hours don’t necessarily equal more work done. If you're dreading the day ahead or constantly daydreaming, perhaps this is a sign you want more. A good way to finish what you need to is by enjoying what you do. “Working insane hours” will happen, but the achievement lies in your dedication to spend that time wisely so you can get back to the things that matter most to you.

“I have the responsibility of kids, animals, a house, and a business. The rest has to come after those things, and even the business can’t take over the other ones. - Amber Naslund.

Remember, your daily routine might look overwhelming but it doesn’t have to dominate every hour of every day. New tasks will always be there to take up room in your schedule. Keep in mind there is only so much you can do in a day and that’s okay! Relax, refocus and cut yourself some slack –work smart and know the difference between what needs to be done today and what can be done tomorrow.

Start working toward your business ownership goals. Let FranNet connect you with the business you’ve been looking for. Ask us about a free consultation. Our purpose is to connect the dots and make the transition from corporate employment to the freedom of business ownership manageable and safe.

4 Types of Questions to Ask Franchisees, Before You Become One

You’ve gone through the process of narrowing down the franchise concepts that fit you best. Now it’s time to start the research process.

Before you invest any money, it’s important to carefully and thoroughly perform your due diligence. Make calling and visiting with franchisees part of this process. Franchisees are invaluable resources when it comes to truly understanding how you will fit within a particular franchise.

In other words, you’ll want to speak with at least eight to 10 franchisees in the franchise you are considering. Ask the franchisor which owners have similar backgrounds to you, who the most successful owners are and those who may be struggling. You’ll also want to include a couple franchisees on your call list who are no longer with the franchise and gain more insight into why they left.

By conducting this type of research, you are able to gain a greater perspective of the business you are considering buying. Plus, you’ll have a better idea as to where you might fall on the performance spectrum within that franchise model – top, middle or low performing.

So how should you prepare for these calls? Gather your questions! Here are four types of questions to consider including on your list to get the most out of your conversations:

Getting to Know the Individual
When meeting with a franchisee, the first type of questions you’ll want to ask should be centered on getting to know the individual. Their answers will help you get a better feel for how similar or different from that person you are. And this information may help you predict how you might perform in this same system. Ask questions like:

• How long have you been in business? 
• What were you doing previously? 
• What made you choose this franchise?

Try to get an idea of how it’s going for them, and in general, if they like what they do.

The Rating Questions 
The rating questions are a great way to get a better sense of franchisor provided programs and support. For example, if a franchisee says that the support is great but then rates it a five out of 10, then you know you may want to dig a little deeper into the type and consistency of support provided. 

Use the rating-based questions to gather more information on the franchisor-franchisee relationship. And when a rating is exceptionally low or high, take that as an opportunity to ask them to elaborate. Sample questions might include:

• How would you rate the initial training?
• How would you rate the ongoing support?
• How would you rate the marketing programs?
• What do you like best and least about the business? 

Get a Sense of the Numbers
This is your opportunity to get real-life numbers on the annual revenue, expenditures, and revenue breakdowns. Remember how your list of franchisees to contact represented a good cross section of top, middle and low performers in the system? Well, this will give you a good idea of what you could expect in the best and worst of cases should you decide to move forward. Questions you might include on your list are as follows:

• How do you compensate employees (benefits, paid time off, etc.)?
• What is your annual revenue expectation for the year?
• Approximately how much per year do you spend on …?
• How much could I reasonably expect to gross/net in the first year, second year and third year?
• What are your costs of goods sold as a percent of sales? 

If You Could Only Ask One Question 
The answer to this question speaks volumes, “If you had to do it over again, would you?”

Just because a franchisee is considered a “rockstar” in a particular franchise system does not mean that that individual’s answer to this question would be an automatic “yes.” It’s important to remember that a franchise is a small business. It may come with a turnkey business model, but you still have to be prepared to put in the hours and the work. What is the cost/reward ratio, and is that something you would be comfortable with.

Once you’ve completed your calls and visits, and you’ve reviewed your notes, it’s time for a little reflection. Try to determine if you are more similar to the successful owners or if you relate more to those who are struggling. Ultimately, you want to be able to determine if this is something that you could see yourself doing and that you would enjoy doing. The business that is meant for you is one that will help you achieve your goals and vision.

Do you feel that you’re ready to get started? Let FranNet connect you with the business you’ve been looking for. Ask us about a free consultation with a qualified and experienced franchise consultant. Our purpose is to connect the dots and make the transition from corporate employment to the freedom of business ownership manageable and safe.

Still Unsure Of The Millennial Generation?

It’s not set in stone, but generally “millennials” are said to be born somewhere between 1982 and the early 2000's. The exact dates may not be consistent, but the words used to describe this young group of individuals are. Millennials are said to be lazy, narcissistic, living with their parents, incapable of following rules, unemployed, unprepared and (here’s a popular one) in debt. These are just a few descriptions that encompass the people entering or participating in the modern workplace. Also, the US Bureau of Labor Statistics predicts that millennials will make up approximately 75% of the workforce by 2030. 

These harsh accusations are how the professional community imagines this generation. It is understandable why some millennials could feel defensive or angry, yet what should trouble them even more is the truth those words carry.

A study by PNC Financial Services Group confirmed millennials carry an average $45,000 in debt. Pew Research Center’s analysis of the 2012 U.S. Census Bureau data shows 36 percent of the nation’s young adults (ages 18 to 30) live with their parent’s. Forbes explained 68 percent of corporate recruiters say it’s difficult for their organizations to manage millennials because they don’t like red tape, arbitrary hierarchical structures, or being forced to follow a specific process. There is no denying the facts and it’s clear why companies feel the need to arm themselves with articles on “how to deal with them.”

In response, here are a few tips about millennials:

·      Keep an open mind. Not every young person to come before you will have the aforementioned qualities. You might find them to be very open to feedback, tech savvy, creative, flexible and ambitious.

·      Come to terms with the fact that millennials are going to move on. Instead of focusing on stopping them, look for ways to optimize the time they spend with your organization.

·      In a recent Deloitte poll, 70 percent of millennials say they'd reject traditional business to work independently. They are more likely than other generations to study majors related to entrepreneurialism, which shows their entrepreneurial spirit.

·      They look for immediate satisfaction and live heavily in the moment. Instead of trying to change this, integrate their energetic and participatory personality into your workplace.

·      They are optimistic, have high expectations and want to forge their own path. Use their drive and perspective to inspire positive company culture for your business.

The worst thing you could do is fear this generation of excited, hopeful young people. It’s fear and a lack of encouragement, challenges, open minds and lowered expectations that enforce the notion that it’s okay for millennials to have this reputation. It’s not okay.

To the millennials I say: prove you’re a hard worker and strive for success. To everyone else: Let them.

Franchising doesn’t have an age barrier. Out of the thousands of franchises to choose from, there is one that is right for you. Call about a free consultation with a qualified and experienced franchise consultant. 

Networking Your Way to Success

If you’re a business owner or considering business ownership, then it’s likely you know how important networking is to your success. Businesses grow through building relationships and making contacts. So, if you’re not networking, you may be working hard, but not working smart. Let’s take a look at a few tips to help you get started or simply improve your networking strategy.

Networking Goals
The first step in successfully networking is setting goals. These will serve as your framework to take you where you are to where you want to be in creating and nurturing valuable professional relationships. Your networking goals are not set in stone, in fact, you should revisit them often, revise them, scrap the ones that aren’t working for you and set new ones.

Start by making a list of short-term and long-term attainable goals. Now, set a value to them. For instance, your goal is to connect to other business owners. In the short-term, let’s say you want to connect with five different business owners at your next networking event – five connections that you feel you can reach out to for advice, tips, ideas and support. As you reach each of your short-term goals, consider them little “wins,” and let them motivate you as you work toward your quarterly and annual goals.

Networking Tools 
After you have established your networking goals, the next step is to determine how to effectively execute on them. The following are a few tools to consider:

• Business Cards – Easy to carry and simple reminders to those you meet, business cards not only provide your contact information, but are also a reflection of your business and the quality of your work. Writing quick notes on the back of each business card you receive can also be a great way to remember the connection or serve as a conversation starter on your follow up email to them.
• Elevator Pitch – This is a critical tool in your networking toolbox. You should be able to describe your business and what you do in a succinct, concise and engaging way in 30 seconds or less. Be sure to tailor your message or tweak it depending on the audience. 
• Website – If you’re a business owner, you need a website. When potential clients or customers want to learn more about you or your business, one of the very first places they’ll turn to is the Internet. There are a number of tools available to help small business owners get their websites up and running. Which means, you don’t have to be an expert in website design or have a large budget to get started. And, with the content management services available today, it’s easier than ever to create, publish and edit your own site. 
• Social Media – LinkedIn, Facebook, and Twitter are excellent methods to getting your brand and name in front of hundreds of potential clients and business partners. Link all three and throw in your website and you’ll have a powerhouse of networking tools working for you.

Making Connections
“It’s not what you know, it’s who you know.” This may be an old saying, but it still rings true. Once you’ve developed your goals and compiled your networking tools, it’s time to start making connections.

Networking events are planned for exactly this purpose. So even if walking up to a new person and striking up a conversation is outside of your comfort zone, just know that everyone is there for the same reason you are. Let that give you confidence! Prepare your elevator pitch, bring your business cards and have a few questions in your back pocket to make sure you can keep the conversation flowing. Exchange cards with new connections along with a comment about how you might be able to help them. Be sure to follow up in a few days via email.

Also, consider joining a networking group or groups, which are great for connecting with like-minded individuals. Networking groups can be in-person or online, and both provide you an opportunity to share your expertise and meet and engage with people outside of your normal workday. Find groups that fit you in terms of size, time commitment, industry and goals.

There are a number of tools and tips available to help you network your way to success. From setting goals, to filling your toolbox with effective methods for reaching those goals and adding connections to your professional network, you can make networking a powerful asset to the growth of your business.