Chapter Highlights
- The model of the one-company career is increasingly far from the norm of success. The economy, technology, and information age have all contributed to this change in the workforce, and it appears to be here to stay.
- Middle-aged and older workers have been edged out of career positions and are finding it increasingly hard to find equivalent replacement jobs.
- Your life savings only last for so long. You could try to wait a career crisis out and hopefully beat the odds, but you could also choose to leverage your skills and assets in a different, more proactive way.
- Franchising is a legitimate and sometimesoverlooked option for middle-aged workers and executives—and it’s a component of the economy that is booming.
- Use reason and research to combat the fear and anxiety that will inevitably color your decision
about whether to invest in your own business.
- It’s important to have the five C’s covered to build a successful business. Every franchisor knows it, and the good ones will carefully evaluate each candidate to ensure he or she will represent the brand well and can make money following the franchisor’s business model.
- If you think you have what it takes, dare to head in a new direction. Hire yourself and break the mold (and the hold) of traditional employment.
- Franchising touches nearly every industry, and there are thousands of business models available for an investor to consider. New concepts are being created all the time.
- Franchises generally fall into two categories, facility- based businesses where customers come to you, and service-based businesses, where you go to the customer.
- You’ll need to decide if you want to be an owner/ operator of your franchise business, or if you want to be an executive owner, hiring others to do the day-to-day work.
- For some investors, owning and operating one store or business is exactly right for their personal goals and lifestyles. For entrepreneurs and experienced executives who want to build a larger business, there are significant advantages to the multi-unit ownership franchise model.
- The most important thing to do at the outset of your franchise search is understand your own motivations and goals. Assess every franchise concept through the filter of those things that matter most to you.
- When it comes to choosing a business concept, maintain the perspective of an investor and a savvy executive— not that of a once or future consumer.
- Look for a concept that will utilize the business experience and
strengths you already have.
- With thousands of franchise options to sort through, you might find it helpful to speak with a franchise consultant who can help you separate legitimate prospects from those that are either ill-suited to your needs, goals, and talents—or not worthy of your investment.
- When you find a great win/win/win concept tied to an outstanding business model, you’ll know you’re on the right track.
- Great franchises have success broken down into efficient, meaningful steps—and those steps allow them to replicate success from one unit to the next.
- A big part of choosing the right franchise for you is finding a company you can see yourself in a long-term relationship with. Look at characteristics like corporate culture, communications, and stage of development to help you assess the elusive factors that make a company a good potential partner.
- When you’ve narrowed your franchise options down to just three or four, it’s time to go through the process of franchise investigation for all of them—to the end or until an option no longer seems viable.
- The four main steps of franchise investigation are the introductory call, receipt of the Franchise Disclosure Document, validation calls, and discovery day.
- Validation calls are your very best opportunity to peek behind the curtain at a franchisor’s inner workings. Be sure you make the most of this opportunity.
- Each of these steps will give you a new depth of knowledge and understanding of the franchise company. By the end of the process, you should feel confident in making a decision about investing in one of your three investment prospects.
- Capitalizing your investment starts with making an honest assessment of your assets so you can pinpoint your net worth and available liquid capital. Next, decide how you’ll assemble the necessary investment through a combination of liquid capital and loans.
- Before you move forward with your investment, carefully consider
how much risk you’re willing to assume. Weigh the risks vs.
benefits of tapping home equity or retirement savings for your
investment. This is a personal decision that should not be
influenced your franchisor or any other party involved in your
investment.
- Take the time to develop a strong, detailed business plan. This tool
will not only help you secure financing, but it will also serve as a
guidepost as you build your business.
- The franchisor has a vested interest in your success, so every education and training program it offers has the potential to be instrumental to your business. Be sure to avail yourself of every
opportunity.
- The franchisor has tested and retested the products, supplies and processes it shares with you—and every franchisee that came before you has tested them as well. The biggest favor you can do yourself as you begin life as a franchisee is to think of Follow the System as your mantra for success.
- Having “A” Player employees is critical to your success. Investing your time, energy and resources in choosing productive, positive employees will enable your business to work without you. Poor hiring choices can plague your business with ineptitude and poor customer service.
- In business, momentum is achieved through the cooperation of many factors, and your franchisor will start you rolling with a great concept, a streamlined process for delivering it, and a sophisticated marketing plan. To increase the inertia those components bring, augment them with your outstanding leadership, customer service, and vision for the future of your business.
What They’re All Saying
“Now is the best time to become an entrepreneur and franchise ownership makes it easier. If you want to be your own boss and live life on your terms you must read, study, and follow the path laid out in HIRE YOURSELF. It is clear Pete Gilfillan is on a mission to help people take control of their destiny through franchise business ownership.”
– AMIT Y. KLEINBERGER
Chief Executive Officer, Menchies
“HIRE YOURSELF takes you by the hand and leads you from the initial stages of an idea about franchising to a successful investment and stellar startup. Pete provides real stories that you can relate to of others that have followed a similar path with practical resources to guide you through the entire process. A must read for anyone considering franchise ownership!”
– BORIS KATSNELSON
President, SpeedPro Imaging
“Pete Gilfillan makes a compelling case for exercising your option to HIRE YOURSELF. With up-to-date facts and statistics, he reminds us of a new truth in industry: Loyalty isn’t what it used to be! The days of the employer based career are fading, and in its wake is a new career model that allows smart, ambitious, talented, middle-aged executives seeking a new path to control their own destiny through business/ franchise ownership.”
– KURT LANDWEHR
Vice President, Franchise Development, Regis Corporation
“With its direct, engaging tone and ‘these-are-the-real-facts’ approach, HIRE YOURSELF makes a compelling case for the benefits of franchising and being an entrepreneur. Pete Gilfillan provides a unique perspective about the business model that seems perfectly poised to expand in nearly every industry.”
– ROCCO FLORENTINO
President and CEO, Benetrends Financial
“For the right person who finds the right franchise concept, entrepreneurship is an amazing journey to success. In HIRE YOURSELF Pete Gilfillan shows you the steps to find the right franchise opportunity that will transform your unique talents into entrepreneurial success; to make a better life for you and your family.”
– RICK CROSSLAND
Owner, A Player Advantage
“Pete Gilfillan has written a smart, savvy, eminently reliable step-by-step guide to choosing the right franchise for you. HIRE YOURSELF is loaded with great advice from the first page to the last.”
– BOB MCQUILLAN
Vice President, Franchise Development,
Hand & Stone Massage and Facial Spa
“If you believe that owning your own franchised business is in your blood, first get a head start by reading HIRE YOURSELF. It offers solid, real world advice on making the very best choice for your goals and lifestyle.”
– DOUG SCHADLE
CEO, Rhino 7 Franchising
“If you had opportunity to read only one book before investing in a franchise business, I would strongly recommend you read HIRE YOURSELF. Pete Gilfillan takes you on an exciting journey to not only learn if franchise ownership is right for you but how best to finance and structure your venture for long-term success.”
– GEOFF SEIBER
CEO, FranFund, Inc.
“HIRE YOURSELF is a fantastic resource for anyone who’s feeling fed up or burned out with the corporate world. Pete Gilfillan makes a compelling case for taking one giant leap into entrepreneurship to cure what ails you.”
– KIM DALY
Senior Consultant, FranChoice
“I got my start in franchising as a client of the process that Pete uses to match people with the right franchise concept. Having gone through this process myself, I can tell you that he has covered everything you need to know in evaluating and succeeding in a franchise business. If you are ready to take control of your destiny, HIRE YOURSELF needs to be the next book you read!”
– RANDY CROSS
President of the Franchisor,
Fish Window Cleaning and a franchise owner with Fish
“HIRE YOURSELF gives newcomers and experienced entrepreneurs alike an astute and insightful look at each step in the process of franchise investment. The step-by-step process that Pete has outlined is like getting the expert CliffsNotes to the hard learned lessons of not just starting a franchise, but also what you need to know before beginning any business venture! I wish that a decade and a half ago someone would have handed me HIRE YOURSELF as I would have entered into the world of being an entrepreneur and franchisor with the knowledge base needed to be years ahead of where I started from. HIRE YOURSELF will be a must read for all of our new franchise locations and should be for anyone contemplating being their own boss.”
– DAWNYEL SMINK
President, Canyon Lands Insurance/ CLI Select Agencies
“The knowledge and insight Pete Gilfillan delivers can help transform anyone’s hard work for someone else into a dream-come-true franchise of their own. With the know-how in HIRE YOURSELF, get ready to design your own destiny.”
– P. ALLAN YOUNG JR.
CEO & Co-Founder, ShelfGenie Franchise Systems
“When we think of entrepreneurship, we tend to get caught up in a traditional path, starting a business from scratch. HIRE YOURSELF illustrates that exploring the world of franchise ownership may finally be the answer to the often asked question, ‘How do I realize my dreams and goals of a successful career?’ Be surprised as you learn the realities of controlling your own destiny with the best kept secret, franchise ownership.”
– NICKI ANDERSON
President/CEO, Naperville Area Chamber of Commerce
“Starting your own business can be intimidating and lonely. HIRE YOURSELF makes you feel like you’ve got a stand-up guy who knows the process inside and out in your corner, offering equal measures of reassurance and good advice. Before you consider your next business opportunity, you should read and learn from this excellent resource.”
– DON MARKS
Chief Executive Offi cer, POP-A-Lock and Temperature Pro
“HIRE YOURSELF offers a thoughtful and affirmative look at the potential of franchising for those who’ve had their fi ll of corporate politics, job insecurity, and an ever-dwindling appreciation of the corporate loyalty that was once a linchpin of the executive career. He makes a compelling case for entrepreneurship that most need, given the intense struggle which exists between a person’s Dragon (F.E.A.R.) and the dream that started the prospective franchisee out on their adventure to begin with.”
– MARK A. TIT COMB, II
Sr. VP of Franchise Recruitment, CertaPro Painters
“Pete Gilfillan has ‘walked this road’…And, this book leverages his experience to help others honestly assess their purpose for work and to make an informed choice that will best serve them and their family.”
– WES KIMES
Vice President, Executive Services,
Right Management Chicago, IL
“You have the choice to either work toward your goals or someone else’s so why not be your own boss. HIRE YOURSELF is THE best tool you can have when taking that step in your franchise investment.”
– ROBERT HUDGENS
Entrepreneur, success coach and self-made millionaire
“HIRE YOURSELF looks at franchising as a means to an end—a bridge from corporate dependence to self-sufficiency.”
– DAN FIELDS
Senior Vice President, FocalPoint Coaching
“HIRE YOURSELF doesn’t put you on the road being a successful franchise owner—it puts you on the Autobahn in a Ferrari! Pete Gilfillan’s revolutionary book has taken the guesswork out of owning a thriving business.”
– JEFF HERR
CEO / President, St. Gregory Development Group
“Pete Gilfillan’s passion to make a difference in other’s life is demonstrated in HIRE YOURSELF. He shares his personal journey and insights on how to transition from being employee to becoming an entrepreneur. If you are tired of working for a boss or unsatisfied in your current job, then you need to read HIRE YOURSELF.”
– JOHN HENNESSY
President, Hennessy’s Riverview Ford
“HIRE YOURSELF is an absolutely, positively must-read guide to getting into franchising and making it work.”
– DENNIS CAR TER, PT, MPT
Physical Therapist and Clinic Director,
ATI Naperville South