People who know me know that I've been around the franchise industry my entire life. I grew up working at a franchise company from a young age and have been involved in several franchise brands as a franchisor and a franchisee, sometimes both in the same brand.

From time to time, I have people looking to buy franchises asking me, Johnny Franchise, for advice. Well, I am not really a “Matchmaker.” I do like to give people ideas and perspectives to try and help. Here are the top five questions or bits of advice that I provide to these people when they find me.

Why is now the perfect time for franchising?

The period from September 15^th through October 15^th is National Hispanic Heritage Month, which celebrates Hispanic and Latino Americans’ contributions and achievements. This celebration starts mid-month because it began in 1968 as a commemorative week, and in 1988, it was extended to a full month.

Hispanic and Latino Americans make up an incredibly diverse group of cultures. They comprise nearly 60 million people and represent Americans with cultural ties to all Spanish-speaking and Latin American countries and dependencies. It should come as no surprise that their contributions to the business world have been rich and varied!

Latino entrepreneurship in the Americas began over 500 years ago before our country was even founded. Some of the first Latino-owned enterprises in the United States included ranching, farming, and shop ownership.

Today, many of our country’s most innovative and disruptive entrepreneurs are from Hispanic and Latino backgrounds.

Starting your franchise business is probably one of the most exciting things you have ever done. And it should be! You’re embarking on a new career as your own boss. Before long, you will have customers and employees, and they’ll be some of your most valuable relationships.

It’s important not to get so focused on these relationships that you put your professional service suppliers on the backburner. These suppliers may be crucial to the success of your business.

Franchising is a collaborative business model, and that’s reflected in the supportive nature of the community. The franchise industry is full of specialists who are here to help entrepreneurs like you succeed. It is important to tap into this network and find professional service suppliers who meet your business’ needs.

You’ve probably heard the phrase before, especially during election cycles. Small businesses are the backbone of America. You might be quick to roll your eyes and dismiss this as an outdated saying, especially with major eCommerce retailers and big-box stores commanding all the headlines. However, small businesses make up over 99% of all US employers and account for 60% of all jobs added annually.  Nearly all consumers in America prefer to support small, locally-owned businesses when possible. On average, a greater portion of the money spent locally stays local compared to money spent at a non-local business. 

After turning another page of the calendar in 2020, we will celebrate another major holiday in the middle of a pandemic. While our 4th of July celebrations will likely look different than previous years, there is still much to celebrate and be grateful for. Our small business community has been hit especially hard the past few months, and they need our support more than ever to lift them up as they come back online. It's the perfect time to reflect on our country's remarkable history of entrepreneurship and small business success.