Returning Veterans Make Excellent Franchise Owners

Economic times are difficult, layoffs are common, and unemployment is high. People with jobs worry about losing them and those without jobs are fervently searching for one.  Times are difficult and especially so for the brave men and women who left our job market to fight for our country.  They sacrificed income and time with their families only to return home to a new fight.  The fight for employment.


Kensington Company & Affiliates may be able to help find the solution for veterans returning home by educating them on franchise opportunities. The same skill set that makes a good soldier is often the same skill set thats make a franchisee.


What makes a good franchisee?

• Passion
• Drive
• Self-motivation
• Work well within a team environment
• Work well with detailed systems

Franchisors recognize the value in working with veterans and many times will offer incentives to help a veteran get started in the business.  Call us to schedule a FREE consultation and learn if franchising may be the solution for you!

What to Plan for in a Buy Sell Agreement to Prevent Loss of Business & Litigation.

The Kensington Company & Affiliates would like to thank Jeanne Brutman, LUTCF, CBFS, CFS for submitting this informative article.

 

What to Plan for in a Buy Sell Agreement to Prevent Loss of Business & Litigation.

The Goal:  Transfer of Business shares in a life event to those who wish to keep the business and cash to those that need to be bought out due to the following circumstances:

• Death:  The premature passing of a shareholder.  Usually Funded with Life Buyout Insurance, assuming all involved are insurable.

• Disability:  The Unplanned accident or illness of shareholder.  Usually Funded with Disability Buyout Insurance, assuming all involved are insurable.

• Divorce:  Prevention of spouse of shareholder from causing undue stress on other business partners during separation or divorce proceedings.

• Discontent:  The inability of partners to co-exist in one corporation for any reason not related to legal or ethical violations.

• Marriage:  Prevention of future spouses of shareholders from making claim to partial ownership of business in future.

• Retirement:  The ability for any shareholder to leave at agreed upon time amicably.  Usually funded through combination of cash value life insurance, corporate retirement plans and possibly installment payments from Annuity products or ongoing business revenue (least practical).

• Felony:  The removal of shareholder that has legally or ethically endangered the company through their inappropriate actions. 

It is usually recommended to go through some level of third party business evaluation of  your business (not done by your cpa) every two to three years to substantiate the value of the business for IRS taxation purposes.   Business valuation can be done from 3 different perspectives. sale of business to outside parties, estimation of estate taxes or internal buy sell agreement. This should be done as soon as possible to get a base line of the business value as it hits profitability.  Flat value amounts can be used, but run the risk of out-dating rapidly and increased scrutiny from the IRS upon business transfer.  Business valuation formula’s are more useful, but also have to be reviewed and possibly revised as the business changes structure over time.  As mentioned above ,it is considered in good form to review the entire buy sell agreement and it’s formula’s or stated business value every 2-3 years, but. if the business is expanding or shrinking more rapidly, perhaps more often is advisable.

Lunch and Learn June 19th

Kensington Company & Affiliates   Free Lunch and Learn  with a Leading National Franchise Company and their Local Franchise Owners Next Tuesday, June 19th, 1pm The Olive Garden,Old Country Road, Westbury, NY If you are looking for business ownership and want a business that offers fast ramp up, a proven track record and big earning potential. This event is for you! ....and in house franchisor financing. Learn about a franchise that has been ranked by Entrepreneur Magazine as #1 in their category for 15 straight years. Free Event, Registration Required - Click Here (also featured at this Lunch and Learn will be a Franchise Resale for Budget Blinds Netting Approximately 125K and only asking $150K)

A Few Reasons to Learn More about Budget Blinds Low Investment Cost, Under $100K Total Investment   Very Fast Ramp Up and Big Earning Potential Franchisor Financing Available Few Employees Home Based, No Inventory, Low Overhead Flexible Schedule - Make your own Schedule $8 Million Spent Annually on Marketing - in the top 10% of all franchisors. Average Gross Profit = 53% 75% of their franchisees are Men with NO Design or Decor Experience Named the #1 BEST Franchise in their Category for the past 15 Years by Entrepreneur Magazine #1 for 3 years in a row, Franchisee Satisfaction, by Franchise Business Review - AMAZING FRANCHISEE VALIDATION - HAPPY OWNERS, MAKING MONEY Ranked in the top 70 of ALL Franchises by Entrepreneur Magazine Un-paralleled Training and Support Strong Vendor Relationships and Purchasing Power FREE LUNCH If you are looking for a low cost, home based business, that offers complete freedom and flexibility and can cash flows positive in a very short period of time, join us for this Free Lunch and Learn. Most of their franchisees are men with no previous design or decor experience that moved forward with Budget Blinds because of their AMAZING business model with strong earning potential. If you are looking for a business and are on a tight budget, want great support, need quick ramp up and cash flow, then you should invest an hour with us for a free lunch and learn. Don't take our word, meet with local franchisees and speak with 100's of others as you validate and learn about this great franchise opportunity. Furthermore, they will also fly you out to California to see their corporate offices and put you up for 2 nights to meet their team and view their operations. Call or email with questions. Stuart@kensingtoncompany.com 516-626-2211

Why Corporate Executives Make Good Franchise Owners

Today's economy has caused fear and stress to become a part of our daily routine.  People are worried about finding jobs, keeping jobs, and pay cuts.  We worry about providing for ourselves and our families and watch our quality of life diminish.  It is even more difficult when we feel a lack of control over our financial future.

For some, taking control is a real option. How?  By becoming your own boss and making the decisions which directly affect your finances.  Purchasing a franchise allows you to take the risk of owning your business with the benefits of a built in support system and proven successful business model.

Corporate executives make especially good franchisees because of their business background.  Franchisors typically do not look for candidates that are skilled in their service, but rather look for candidates with good business acumen.   

So what traits make corporate executives good franchisees?

• Long term vision for the business.  

• Good leadership skills

• Quality decision making skills

• Reliable

• Good at delegating

• Hard working

• Financial savvy

 Kensington Company & Affiliates offers FREE consultations which can help you determine if franchise ownership is right for you.  Call us today to set your appointment!

Surprising Facts Learned at the Meet the Franchisor Workshop

Kensington Company & Affiliates would like to thank everyone who attended and/or contributed to last weeks "Meet the Franchisor Workshop."  We are pleased to announce that the feedback has been overwhelmingly positive. The franchisors reported meeting many viable candidates who expressed the intent to research and consider the franchise.  On the flip side, many people have scheduled their free consultation with Kensington Company & Affiliates to investigate which franchise may best suit their needs.

In speaking with the attendees, we found that the majority of them learned some surprising facts about franchise ownership.  Here are the ones mentioned most often:

• Franchises DO NOT have to be fast food restaurants! 
• 85% of franchises can be purchased for less than $250,000!
• Many franchises are available for less than the cost of a new car!
• Franchises can be service industries such as cleaning, painting, or staffing companies.
• Franchises can be educational companies such as day care, tutoring, or test preparation
• The franchise owner DOES NOT need to be experienced or skilled in the product of the franchise, in fact many franchisors look for people with business skills instead.
• Work from home franchises are available!
• No employees, few employees, or many employees are all options.
• Most franchisors help with financing!
• Displaced corporate executives tend to be very successful franchise owners.

Kensington Company & Affiliates offers a free consultation to help you determine if franchise ownership is right for you and if so, which franchise is right for you.  Not only is the consultation free, but there is no fee to the franchisee (you) throughout the entire process! There is no risk, only tremendous opportunity to create a life you will enjoy so call and schedule your appointment today!