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Archive for April, 2011

Joe Barbat on The Franchise Research Process

April 18th, 2011 Comments off

Joe BarbatYou’ve considered your strengths and desires. You’ve chosen the type of franchise to research. Now, how do you choose a specific industry, such as pet care, elder care, personal services, business services, or fast casual dining?

Research franchises in that category that offer the business opportunity and future you desire.  Libraries and the Internet are wonderful sources of information:

  • Check out the industry’s association for current trends and projections. An Internet search or call to your local library will help you find the right group.
  • Ask your local library for national and local industry trend reports.
  • Search the online business publications or business periodicals in the library for trends in the industry and recent press about the franchise.

If you know where you are physically going to locate your franchise, now is a great time to become familiar with the local Chamber of Commerce.  Ask for an economic forecast and any local trend information they may have on the industry that you are considering.  After reviewing the data you’ve collected, ask these questions:.

  • Is this industry growing in the geographical area I selected?
  • Does this industry have potential for the next 10 years? (Most franchise agreements are for 10 years.)
  • What if there are downward trends in the industry?
  • What is the competitive landscape within the industry and within my geographical area?
  • Is there a competing industry or business type that has replaced the industry.  I was exploring, and is it a more promising opportunity?
  • What are the allied industries that are filling in the gaps?

For example: You research Pet Supply Retailers in your market and find that the market is near saturation. The last retailer to open closed within a year.  Consider researching mobile or retail pet grooming, pet day care, or other alternative niche businesses that may give you a better chance of survival in such a competitive market.

About Joe Barbat

Entrepreneur Joe Barbat has been referred to as one of the industries thought leaders in his effort to revolutionize the wireless retail industry.  Joe enjoys providing valuable information to people who are considering a future as a franchise owner in any industry, as well as, all things Michigan.  If you have a franchise question that you would like to ask Joe, please feel free to contact him directly.

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Are You The Ideal Franchisee?

April 14th, 2011 No comments

Joe Barbat CEO of Wireless ToyzMany franchisors have an “Ideal Franchisee” profile.  This is the set of characteristics that their most successful franchisees possess, and, a criterion by which they use to evaluate future franchisees.

You can create a spreadsheet like the example here comparing your traits to a franchisor’s “Ideal Franchisee.”

List the Ideal Candidate Characteristics for Each Franchisor (EXAMPLE).

Successful Franchisee TraitsHighlight where your personal characteristics and their description of an ideal franchisee match.  Explore these franchise brands further.

Successful Franchisee Trait Worksheet

About Joe Barbat

Joe Barbat founded Wireless Toyz in 1995 and grew the company from a one kiosk service center to a multi-location franchise throughout the United States. As an avid fan of all things Michigan, Joe enjoys snowmobiling, family, and recreational activities, as well as, testing the next hottest technology products to enter the wireless marketplace. Honored by both Crain’s Detroit and Ernst & Young for community involvement and entrepreneurship, Joe Barbat has a passion for developing successful franchise businesses in the wireless retail industry.

How To Eliminate Franchise Choices

April 14th, 2011 Comments off

Joe Barbat CEO of Wireless ToyzHave you ever wondered how to go about eliminating franchise choices from your list of opportunities?

Think about what you have disliked about previous jobs or businesses and quickly write down those activities you want to avoid in the spaces below.

1.____________________________________________

2.____________________________________________

3.____________________________________________

4.____________________________________________

5.____________________________________________

6.____________________________________________

7.____________________________________________

Be honest with yourself. If you know deep down that you do not like being in the kitchen or won’t ever clean a bathroom, don’t consider a restaurant franchise; eliminate that category as an option for yourself.

If you know that you would prefer to work from home, focus on home-based businesses opportunities.  Being honest with yourself about your abilities will save you time and help you to develop a manageable franchise list with the right brands and concepts that are the best fit for you.

About Joe Barbat

Joe Barbat founded Wireless Toyz in 1995 and grew the company from a one kiosk service center to a multi-location franchise throughout the United States. As an avid fan of all things Michigan, Joe enjoys snowmobiling, family, and recreational activities, as well as, testing the next hottest technology products to enter the wireless marketplace. Honored by both Crain’s Detroit and Ernst & Young for community involvement and entrepreneurship, Joe Barbat has a passion for developing successful franchise businesses in the wireless retail industry.

Joe Barbat Recommends The BIG LIST for Franchisees

April 6th, 2011 Comments off

Owning and operating a franchise can be a challenging task.  For some people, selecting the right franchise is even more difficult.  So, based on the requests that we have received through this website, we are publishing what we call The Franchisee BIG LIST.

These are a list of posts from Joe Barbat, Founder of Wireless Toyz, that offer keen insight as to the selection, setup, and operation of a successful franchise.  Franchisees that read this information are encouraged to use this information to whatever extent the feel in order to further the cause of their franchise career.

Recommended BIG LIST Resources

B2B versus B2C Franchise Models

Retail and Restaurant Franchises

Families and Franchises Finances

Preparing for and Expecting The Unexpected

Financial Management Tips For The Franchise Family

About Joe Barbat

Joe Barbat founded Wireless Toyz in 1995 and grew the company from a one kiosk service center to a multi-location franchise throughout the United States. As an avid fan of all things Michigan, Joe enjoys snowmobiling, family, and recreational activities, as well as, testing the next hottest technology products to enter the wireless marketplace. Honored by both Crain’s Detroit and Ernst & Young for community involvement and entrepreneurship, Joe Barbat has a passion for developing successful franchise businesses in the wireless retail industry.

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What’s Your Favorite Type of Franchise?

April 6th, 2011 No comments

What is your favorite type of franchise?  Please take a moment to vote on our new user poll.  Each voter get’s 2 votes!

Sorry, there are no polls available at the moment.

About Joe Barbat

Joe Barbat founded Wireless Toyz in 1995 and grew the company from a one kiosk service center to a multi-location franchise throughout the United States. As an avid fan of all things Michigan, Joe enjoys snowmobiling, family, and recreational activities, as well as, testing the next hottest technology products to enter the wireless marketplace. Honored by both Crain’s Detroit and Ernst & Young for community involvement and entrepreneurship, Joe Barbat has a passion for developing successful franchise businesses in the wireless retail industry.