Franchising 101 - How to Do a Pro-Forma - Episode 214

🎙️ Episode 222 - In this episode of Franchising 101, FranCoach Founder & CEO, Tim Parmeter, discusses the common fears surrounding competition in the franchising world. He talks about the inevitability of competition in any business and explains how prospective franchise owners should view and handle it. Tim also shares insights on how to determine market share, leverage franchise mapping software, and the importance of effective marketing and community engagement.  📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 222 - In this episode of Franchising 101, Tim Parmeter welcomes Brandy Reed from Fastest Labs to discuss the company's unique non-medical lab services, including drug, alcohol, and DNA testing. With over ten years in the franchising industry, Brandy shares her accidental entry into franchising and her current role. Fastest Labs offers pre-employment and ongoing testing services, focusing on fast results and a high customer experience. Brandy also elaborates on the requirements for owners, franchise support, the company's strong, family-like culture, and the opportunities available for potential franchisees with Fastest Labs. 📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 221 - In this episode of Franchising 101, FranCoach Founder & CEO, Tim Parmeter, answers a question submitted by a client - how much of my time will this whole process take? Listen in as Tim breaks down the time commitment required of a prospective franchise owner during the discovery process all the way through the time until you are opening your business.  📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 220 - In this episode of Franchising 101, Tim Parmeter explores the various motivations for becoming a franchise owner and why it is important to know yours. He discusses aspects such as gaining freedom and flexibility, having control over decisions, achieving financial freedom, and building generational wealth. What is your why?  📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 219 - In this episode of Franchising 101, Tim Parmeter welcomes Chad Ackerman, a former corporate HR professional who transitioned into entrepreneurship. They discuss Chad's journey from a W-2 career in HR and sales compensation to starting a real estate investment business and eventually selling it. Chad shares his experience with FranCoach, what franchise he chose and why, and advice he would give to people looking into becoming a franchise owner. Chad's story highlights the importance of trusting the process, vetting potential franchises, and considering long-term goals. 📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 218 - In this episode of Franchising 101, Tim Parmeter welcomes Pat Hyland, Vice President of Franchise Development for Neighborly Brands and author of 'Stop Chasing Two Rabbits: Is Business Ownership Right for You?' Pat shares his extensive career journey, starting a business in Dallas, collaborating with Neighborly, and eventually becoming a multi-unit franchise owner. Pat discusses the importance of clarity and planning for achieving financial independence and the need to define dreams, goals, needs, and quality of life requirements. Pat's book aims to help individuals and couples understand their 'why' and determine if business ownership aligns with their goals. *** Get Pat’s Book Here: https://stopchasingtworabbits.com/  📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 217 - In this episode of Franchising 101, Tim Parmeter is joined by Brian and Maggie Bohanon. Hear about the Bohanons’ journey from their corporate careers to becoming franchise owners and why they decided to work with FranCoach. The conversation also includes their decision-making process, what franchise they chose and why, the support they received from the franchisor and other franchisees, and their preparations for their grand opening in Northwest Atlanta. Listen in to learn all about their personal motivations, the importance of aligning with franchise values, and the unique, family-oriented experience they had with the franchisor. 📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 216 - In this episode of Franchising 101, Tim Parmeter introduces us to the team behind Musicologie, including founders Kay and Joseph Barker, and the Director of Franchise Development, Annie Pomponio. Listen in as they recount the history of Musicologie, starting from their childhood piano lessons to touring in a vegetable oil-powered van and eventually launching their own music studio in Columbus, Ohio. The discussion touches on the company's unique blend of private and group music lessons, its emphasis on community enrichment, and the recent move to franchising. The team also explains the business model, the role of franchise owners, and how they support new franchisees with real estate and marketing strategies. With a focus on delivering delightful and personalized music lessons, Musicologie aims to create a fun and impactful learning environment for students of all ages and skill levels. 📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Musicologie website https://musicologielessons.com/  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 215 - In this episode of Franchising 101, host Tim Parmeter talks with guest Darrell Bruce, a former FranCoach client and current franchise owner. Tim and Darrell discuss Darrell’s journey to franchise ownership, covering topics like why Darrell chose to pursue this path, what challenges and considerations he faced along the way, and of course, the brand that he ended up choosing! Tune in to join Tim and Darrell in this insightful and inspiring conversation.   📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]

🎙️ Episode 214 - In this episode of Franchising 101, host Tim Parmeter dives into the “money stuff” behind finding the perfect franchise to own. Learn more about navigating the FDD, or Franchise Disclosure Document. Tim covers creating a “pro-forma” and other key considerations in determining the right franchise for your unique needs and your ideal owner role as you think about Item 7 and Item 19 in the FDD. Tune in now to get the inside scoop on franchise financials.  📺 Check out FranCoach's TV show, the Franchising 360 Show, Fridays 8pm EST/5pm PST on the Biz TV Network www.biztv.com  ✅ WANT TO KNOW MORE? Go ahead: Schedule a call with one of our franchise coaches! https://www.francoach.net/   🔗 LINKS AND RESOURCES:  Hurricane relief for Asheville, NC: https://www.belovedasheville.com/  Check out FranCoach's TV show,Franchising 360, on the Biz TV Network www.biztv.com Schedule a call with FranCoach https://info.francoach.net/meetings/schedule-call/connect  Franchising 101 podcast website with a library of past episodes http://franchising101.net/  Visit Entreprenuer.com for a wealth of information for people just like you! https://www.entrepreneur.com/   Franchising News https://www.franchisingnews.net/  ⭐ INTERESTED IN FRANCHISE OWNERSHIP?  Schedule a call with one of our coaches today! FranCoach is connected with over 500 franchises and we walk you through the process of finding the perfect franchise for you. Our services are always free and we commit ourselves to helping you find your better tomorrow. #️⃣ FOLLOW FRANCOACH: Instagram @yourfrancoach https://www.instagram.com/yourfrancoach/ and @franchising101podcast https://www.instagram.com/franchising101podcast/  Twitter: @FranCoach4U https://twitter.com/FranCoach4U  Facebook: https://www.facebook.com/francoach4u/  YouTube: https://www.youtube.com/channel/UC1GtG31hWoecEONdScIJOsQ  ❤️ If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds and it really makes a difference in getting our message out to more people who can use it. 📧 Sign up for our email newsletter at https://www.francoach.net/  👋 Interested in sponsoring the podcast? Contact us at [email protected]