Wednesday, December 21, 2011

Displaced Corporate Executives Find Solutions To Their Career Transition

Everyday in the news we hear about the high rate of unemployment and see segments on people who have been struggling for years to find work.  We see people who at one time earned six figures, but now are grateful for a minimum wage job.  Job fairs are crowded as people desperately try to set up interviews in the hopes that someone will hire them.

Instead of searching for someone to hire them the answer may be to hire themselves! There are many people for whom owning their own business may be the perfect opportunity to change their lives.  For them, buying a franchise may be the answer.

Most people think of  businesses like McDonalds or Dunkin Donuts when they think about a franchise. These are great opportunities for some, but there are so many more options available. Displaced executives have a plethora of opportunities to sort through to find one which will match their skill set as well as their optimal work week.

Franchises such as McDonalds or Dunkin Donuts require large start up capital and will require managing a staff who works seven days per week.  There are other franchise opportunities that will allow the owner to work regular business hours and perhaps manage just a small staff.  Opportunities are available in diverse industry's.  There are franchises who do taxes, paint homes/offices, clean homes/offices, education,  or child care. The list goes on and on.

has been in the franchising business for over 15 years. Our free consultation is designed to help you answer the questions which will help guide you to the best franchise choice.  The process of choosing and buying a franchise can be long, arduous, and confusing.  Kensington Company and Affiliates allows you to gain from their experience and remove the headaches.

If you are unemployed, underemployed, or just wanting a change, you owe it to yourself to learn about franchising from the franchise experts at Kensington Company and Affiliates.  This may be the start to the best life you never knew you wanted!

Tuesday, December 6, 2011

Should I Franchise My Business

Please enjoy the following informative article written for Kensington Company & Affiliates.
Should I Franchise My Business?
By Harold Kestenbaum, Esq.

Entrepreneurs often ask themselves the question:  Do I want to expand my business?  If the answer is yes, then the question becomes, what is the most efficient way of doing this?  Should I open my own units with my capital and my human resources, or should I let someone else use their capital and human resources and I will supply the systems, intellectual property and training?  Those are the key questions facing the entrepreneur who is anxious to expand but who wants to do it in the most cost effective manner.  The answer to this vexing question is that the business owner should seriously consider franchising his/her business model as the best way to expand.  Then the question becomes, is my business even a candidate for franchising?  The answer can be found below, as I have set out the four basic questions that the business owner must answer:

Have a successful model.  It is impossible to create a franchise program without having at least one successful operation, a pilot, if you will.  It is not feasible to think that if your core business loses money and is unsuccessful, that a franchisee will be any different.  It is imperative that your franchisees be successful, otherwise franchising does not work.

Make sure your business model is replicable.  You must be able to build clones of your operation, otherwise the system will not work.  Have you ever seen a McDonalds without the infamous golden arches?  That is just one example, but it goes beyond the look.  It is the method of operation that must be duplicated.

Attain capital for your franchise.  You must have capital in order to roll out the franchise program.  You cannot believe that franchising will cure your cash flow issues, you need to have money in order to roll out the program.  Do not view the program as a way to fund an undercapitalized business model.

Prove your model works!  The concept that you are trying to franchise must lucrative.  You must demonstrate that your concept works before you try to offer it to the public as a franchise.  If the business model is a failure, your franchisees will inevitably fail as well.  Franchising can be a wonderful business model, but your initial model must work first, otherwise franchising will not be possible.

These simple tenets will aid the business owner in determining whether the franchise model is the proper vehicle.  Once that determination has been made, the business owner should enlist the assistance of seasoned franchise professionals who will assist in developing the franchise program.  Franchising is a vehicle for growth using the capital and human resources of someone else (the franchisee).  How great is that?  It is simple, yet complex.  The franchising relationship goes much deeper than building the unit and collecting royalties.  It is a starting place for companies that want to grow but do not have the internal capital or human resources, like Starbucks, to do it by themselves.  Franchising is not for every company, but for those who meet the criteria set out above, it is the most efficient method to expand with a minimal amount of cost.

Harold L. Kestenbaum, Esq.
Gordon & Rees, LLP
Ph: (516) 745-0099

Wednesday, November 16, 2011

How Do I Know What Business Is Right For Me?

Kensington Company & Affiliates would like to share the following article written by Elaine Iucci.


    Having the desire to become an Entrepreneur is the beginning steps down an exciting path of business ownership. But most people do not have enough knowledge to know where to go from there. As you drive along Main Street in your home town, you will notice the many different businesses there, and how vast your options may be.
Now that you have made the decision to go into business for yourself, you need to start narrowing the field of options. Manufacturing, Service, Retail or Internet are some of the categories these companies fall into. But what strengths do YOU bring to the table? A successful business acquisition is not only a result of identifying a company that has been run well and profitably for many years and now you will take over its ownership as if nothing would change. NO! You need to think about your strengths and weaknesses and how they come to play with each potential business opportunity. Can you ADD something to the existing business? Will it fit your lifestyle? What is your comfort level for down payment, working capital and how much money do you really need to earn to live? As Business Intermediaries, we work to help you answer these questions and narrow the field of opportunity.

Often I speak to a potential Buyer who is looking for a business where the owner is retiring or may be ill and does not have family members to take over the operations. They may be skeptical if the owner has only owned the business for a few years or is too young. Yes, it is important to have an understanding of WHY the current owner is planning to sell.  But assuming that the retiree offers a better opportunity couldn’t be further from the truth. Each business opportunity comes with its own unique situation. There are plusses and minuses to each that have to be carefully weighed. Would you really want to buy a business where the owner has not reinvested in their company in years, and yet still wants to be paid for every paperclip and past relationship they ever had? Would you not find value in a company that a young entrepreneur found, built up and fine tuned and now wishes to move on to a new challenge or project? There are many opportunities where a Company has been run well and a retirement situation is a huge opportunity, but there are many other good opportunities beyond this scenario. It is important to keep your eyes wide open as well as your options. Evaluate each Business on its own benefits and weaknesses and see where you can compliment or enhance the current operation.

Once you have narrowed the field of opportunity and have identified a Business for acquisition, you will need to employ the skills of professionals to assist you. You will need an Attorney to consult and eventually negotiate an Asset Purchase Agreement. You may choose to work with a professional Accountant to review the financials of the Company.

The road to Entrepreneurism is an exciting path, but can also be challenging. By taking the right steps early and throughout your journey, it can lead to the lifestyle and success that you desire.

Wednesday, November 2, 2011

Meet The Franchisor Seminar!

Meet the Franchisor Seminar - Tuesday November 8th
November 8th, 2011 
Meet the Franchisor
Dinner Presentation 6:00pm-9:00pm
The Kensington Company, a regional affiliate of FranNet is hosting a Meet the Franchisor Workshop and Seminar Presentation on November 8th 2011 at the Four Points by Sheraton Hotel in Plainview, NY. 
The Kensington Company is working with various community organizations to put together this exciting and free event to help aspiring entrepreneurs and displaced business professionals learn about some incredible low cost, recession resistant, franchise companies in a safe, secure and educational manor.
We have selected 6 franchisors from our prescreened inventory of top franchise concepts to participate in this event. The franchisors who will be presenting have all been selected based upon the success of their business models and the resiliency of their models to succeed in this down economy. 
In addition to these franchisor presentations, there will be additional short educational presentations:
  • How to find and research a franchise company that can be a fit for your unique business goals and objectives.
  • How to finance your business utilizing new funding methods.

Attendees will also enjoy a FREE Dinner  and will have the opportunity to…
Dine with executives from the hottest “Recession Resistant” franchise companies expanding on Long Island.
  • You are in a Career Transition or considering one
  • You want the Freedom and Control of owning your own business
  • You have been or might be Downsized or Outplaced
  • You are looking for Financial Security and Independence
Then this event is for you!!!! 
You will…
  • Learn how to Find a Business that is Right for YOU
  • Learn how to Finance Your Business
  • Have one on one time with Top National Franchise Executives
Click Here to Register
Registration is Required. Call 516-626-2211 or Register at
Meet the Franchisor Workshop - Tuesday November 8th