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“Turn-Key”: The Myths and Realities of Being a Franchise Owner Cheryl Wadeson

“Turn-Key”: The Myths and Realities of Being a Franchise Owner Cheryl Wadeson. Agenda. Background Franchise concept Process and funding Myths and Realities Lessons Learned. Cheryl Wadeson. Independent Business vs. Franchise.

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“Turn-Key”: The Myths and Realities of Being a Franchise Owner Cheryl Wadeson

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  1. “Turn-Key”: The Myths and Realities of Being a Franchise OwnerCheryl Wadeson

  2. Agenda • Background • Franchise concept • Process and funding • Myths and Realities • Lessons Learned

  3. Cheryl Wadeson

  4. Independent Business vs. Franchise Source: ”Independent Business or Franchise? How to Decide”, Curtis Kroeker, Inc., June 2013

  5. What Does it Take to Become a Franchisee? Source: www.entrepreneur.com 2013 Franchise 500

  6. Why Cold Stone? Strength of the Product or Service Franchise Track Record Franchise Terms and Support Market Area and Trends

  7. Paying for a Franchise • #1 - You are selling yourself • Getting an SBA loan: • You need good credit • 15-25% cash for a down payment • May require collateral • 10 – 25 year repayment terms • Patriot Express loans

  8. Myth: Franchise Owners are Rich!

  9. Successes and Lessons Learned Working Capital Human Relations Know Yourself

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