Monahan, an expert in small businesses and nonprofits, didn’t mince words about the ripple effects of government layoffs. “Government is a big part of our lives,” he said, highlighting the trickle-down impact on contracts and the nonprofit sector…

READ ENTIRE ARTICLE HERE

The post Marshall Reddy on “This Week in Jacksonville Business Edition” appeared first on What The Franchise.

As I write this, more than 75,000 government employees have taken the buyout offered by the DOGE. Many thousands of others will be let go over the coming months. A large percentage of those who will be leaving government service are highly skilled workers who will find employment in the private sector.

If you fit that description. I feel your pain. My dad was in Federal Law Enforcement, my mother worked for the Commerce Department, my brother the US Geological Service, and even myself at the USPS in college.
Soon, you have a decision to make. Some of you will decide that this is the moment to take charge of their own economic destiny by starting a business.

That’s where I can help.

My business matches people with the right franchise opportunity. I’ve worked with hundreds of people who have left their corporate, military, or professional sports careers behind and chosen the path of business ownership instead. Franchises offer a business model for almost any lifestyle and wish list. You can customize your business to meet your needs and goals, whether they’re professional, financial, or personal. Your preferences and level of commitment will determine what kind of business is the right fit for you.

I choose to work with franchises because, for many people, it’s the right entrée into business ownership. People who have been successful in corporations or large organizations like the military or federal government thrive in an environment where they have both independence and structure and support from a successful corporation. They have a proven model for success limited only by their own effort.

Franchises offer things almost no job, no matter how lucrative, offers: the chance to be your own boss, work as much or as little as you want to, create jobs, demonstrate your individual style of leadership, and mentor employees to help them achieve their full potential.

This is my invitation to step toward your dream of business ownership this year. This week. It won’t cost a dime, and you can talk through all your hopes – and fears – with someone who’s not trying to sell you anything. (I get paid by the franchisor if and when you decide to make the investment.) My only job is to match you with a business opportunity that’s the right fit for you.

Here’s the reason I encourage people to consider entrepreneurship: life will always be uncertain. The economy will change, sometimes for the worse. But then it will get better. The market will change. Your circumstances will change, sometimes with almost no notice. We all know this – we just don’t know when and how much they will change.

If you’re willing to take the first small step toward a new life this year, take the franchise assessment. There’s no obligation to go any further, but you’ll be able to see that there’s another road available for you to travel this year. It’s your chance to finish 2025 on your own terms, no matter how the year started.

Whatthefranchise is a Strategic franchise consulting firm that has helped people for over 30 years to find the best franchise via proprietary assessment tools. 

 In 2024, he was honored as a Marquis Who’s Who based on his accomplishments, position, visibility, and expertise in franchising. 

Marshall’s background includes over 41 years of business ownership, sales, marketing, and consulting experience.  His first endeavor as an entrepreneur was as an independent contractor for the southeastern United States, with the Optyl International Eyewear company based in Austria. During his tenure with Optyl, he was awarded the Consultant of the Year for the United States. Marshall parlayed his success with Optyl into a successful partnership of optical retail superstores in Jacksonville. His company also worked as an outside consultant for Vistakon, a Johnson & Johnson company. To contact Marshall, call 904.249.1820 or email Marshall@whatthefranchise.com. 

The post Federal Employees: Your Plan B Might be Business Ownership appeared first on What The Franchise.

I have regrets of my own. Forty-plus years ago, I was a professional actor in North Carolina doing regional theater. A West Coast agent attended one of my performances and told me I had a good shot at making it to the big time if I moved to L.A. 

Long story short: I didn’t move. 

Turns out I didn’t have the courage or the drive to take the big risk. I wanted to be a famous professional actor, but not enough to leave the safety of the life I’d built for myself. My regret might be a little more intense because, at the time, I was rooming with Chris Elliott, who went on to work with David Letterman, write movies and star in others, and appear in some of the funniest shows on TV. He’s won four prime-time Emmys for his writing. I’m sure he didn’t feel safe or comfortable most of his career; that’s the very definition of risk. And, by extension, reward.

As I write this, thousands of people are returning after the holiday break to jobs that are no longer fulfilling. They’re going through the motions, just as they did last year, promising themselves that this is the year they’ll chase the dream of going out on their own and becoming a business owner. 

The problem is that, as Henry Ford once said, “If you always do what you’ve always done, you’ll always get what you’ve always got.” If you don’t take any steps toward your dream, you’ll be sitting in the same place when the calendar flips to 2026.

So, this is my invitation to take a step toward your dream of business ownership this year. This week. It won’t cost a dime, and you can talk through all your hopes – and fears – with someone who’s not trying to sell you anything. My only job is to match you with a business opportunity that’s the right fit for you.

We’re all human, and we all have the same fears; they’re just prioritized in a different order. Fear of failure. Fear of letting your family down. Fear of losing financial ground. Fear of the unknown. My process helps you identify what’s most important to you (and your family’s future) and clarify your goals. I’ll talk you through models and options for franchises. I’ll connect you with owners in those industries so you can ask questions and get answers you can trust.

When you imagine owning a business, what do you feel? What will change? Franchises offer a business model for almost any kind of lifestyle and wish list. You can customize your business to meet your needs, whether they’re professional, financial, or personal. Your preferences and level of commitment will determine what kind of business makes the right fit for you.

I work on matching people with franchises because for many people, it’s the right entrée into business ownership. People who have been successful in corporations or large organizations like the military thrive in an environment where they have both independence and support from a successful corporation. They have a proven model for success limited only by their own effort.

If you’re willing to take the first small step toward a new life this year, take the franchise assessment. There’s no obligation to go any further, but you’ll be able to see that there’s another road available for you to travel this year. 

Whatthefranchise is a Strategic franchise consulting firm that has helped people for over 30 years to find the best franchise via proprietary assessment tools.

Marshall’s background includes over 41 years of business ownership, sales, marketing, and consulting experience.  His first endeavor as an entrepreneur was as an independent contractor for the southeastern United States, with the Optyl International Eyewear company based in Austria. During his tenure with Optyl, he was awarded the Consultant of the Year for the United States. Marshall parlayed his success with Optyl into a successful partnership of optical retail superstores in Jacksonville. His company also worked as an outside consultant for Vistakon, a Johnson & Johnson company.

The post New Year, Same Groundhog Day? appeared first on What The Franchise.

Marquis Who’s Who Honors Marshall Reddy for Expertise in Franchising

Marshall Reddy is a distinguished entrepreneur and expert in the field of franchising and consulting services

JACKSONVILLE BEACH, FL, October 9, 2024, Marshall Reddy has been selected for inclusion in Marquis Who’s Who. As in all Marquis Who’s Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility, and prominence in a field are all taken into account during the selection process.

Mr. Reddy is the president of Franchise Network Inc. doing business as WhatTheFranchise®, a position he has held since 1993. With three decades of experience in franchising, he has established himself as an expert in the field. He is responsible for generating revenues and acquiring customers, ensuring high-quality customer service, conducting webinars on franchising and business ownership as well as collaborating with 700 to 800 franchise companies. These companies encompass a wide range of categories, including B2B services, business-to-consumer services, retail, food, animals and education. 

In addition to his current role, Mr. Reddy served as president of Frannet Florida from 1993 to 2022. His tenure at Frannet Florida was marked by significant achievements and contributions to the franchising industry. His expertise and dedication have been recognized through various accolades, including being featured in “Career Changer’s Manual” by Samuel Greengard in 2014 and being listed among the Top 50 by Advantage Business Magazine the same year. He has also been featured in the Jacksonville Business Journal and the Florida Times-Union.

Mr. Reddy’s career began in college when he worked full-time as an independent contractor for a sportswear company in New York for a year after graduating. Following this experience, he joined Optyl, the largest optical wholesale company in the world, where he excelled as one of the top two sales consultants in the United States. He later transitioned to the retail side of the optical industry by partnering to establish large optical superstores that competed with LensCrafters and Visionworks. Their success led them to become the largest independent optical company in Jacksonville.

After selling his shares in the optical stores, he then transitioned into franchise consulting opening in 1993. Working as a consultant with the FranNet group he became an equity shareholder. After 27 years with FranNet, Mr. Reddy sold his shares and joined the IFPG franchise consulting group which is the world’s largest franchise group. WhatTheFranchise® specializes in using proprietary evaluation tools to determine if business ownership is a viable option for a candidate. These tools help them to Profile, Model & Match the franchise companies that potentially best fit a person’s goals, investment, skill sets, values and much more. Mr. Reddy has worked with individuals in the Middle East and South Africa on the benefits of franchising as a viable business model globally—his company also provides business brokerage services and is a licensed real estate brokerage company in Florida.

Mr. Reddy’s educational background includes a Bachelor of Arts in marketing from the University of North Florida in Jacksonville, where he graduated in 1982. He attributes his success to honesty, integrity, respecting people and taking care of his customers and candidates—values that have significantly contributed to his achievements in the consulting industry.

In addition to his professional accomplishments, Mr. Reddy is actively involved in civic activities such as volunteering annually for the Cancer Program at Wolfson Children’s Hospital in Jacksonville. He also supports a number of military non-profit organizations and animal shelters. In his personal life, he enjoys exercising, biking, hiking, motorsports, construction projects and traveling. Looking ahead, he plans to continue working with people on discovering if franchising is the right option for them.

About Marquis Who’s Who^®:

Since 1899, when A. N. Marquis printed the First Edition of Who’s Who in America®, Marquis Who’s Who® has chronicled the lives of the most accomplished individuals and innovators from every significant field of endeavor, including politics, business, medicine, law, education, art, religion and entertainment. Who’s Who in America® remains an essential biographical source for thousands of researchers, journalists, librarians and executive search firms around the world. The suite of Marquis® publications can be viewed at the official Marquis Who’s Who® website, www.marquiswhoswho.com.

The post Press Release: Marquis Who’s Who Honors Marshall Reddy for Expertise in Franchising appeared first on What The Franchise.

Codie Sanchez is a YouTube business coach with over 1.2 million followers (including me.) She posted a video with over 5 million views on businesses that rarely fail. Sanchez always recommends businesses with a low startup cost, low involvement requirement from an owner (being able to be run remotely, for example), and low failure rate.  She also wants new business owners to choose a business that can’t bankrupt them.

Average success rates are important because 94% of U.S. startups fail within five years. Even a business that’s not a startup has a strong risk of failing: 20% fail during the first year, 50% by year 5, and nearly 66% by year 10. Those aren’t great odds, no matter how smart and hardworking you are. 

She says starting small and learning the business is the key to most owners’ success, and early successes are critical. She says once a business owner experiences even a small failure (like a product that didn’t take, or an event that wasn’t a success), the recency bias kicks in.  Recency bias is our hard-wired tendency to give greater meaning to recent events over historical ones. That means owners start feeling risk-averse when they don’t feel successful, which sets off a cycle of smaller and more timid decision-making. That’s a sure way to increase your odds of failure. 

Sanchez mentions several businesses in her video, including laundromats (almost 95% success rate), self-storage facilities (97% success rate), vending machine routes (90% success rate), and last-mile delivery services (76% success rate). 

Here’s what I would add to the mix: the success rate of a business is also tied to how much the owner is interested in the business itself. (Running a laundromat may not thrill everyone.) That’s why I do an intensive profile with my clients; we come to a clear understanding of what kind of business and ownership model is the best fit for them. That boosts their chances of success significantly.

That’s also why I’m in the franchise space. Franchises offer a proven business model that can be scaled up when the owner is ready. The franchisor provides training and support, including marketing and peer-to-peer mentoring. The performance of the business is disclosed and fully transparent (by law) for the buyer, and buyers are welcome to (and encouraged to) contact current franchisees and those who have recently left the business to get their advice and perspective. 

Franchises have a 90% success rate overall, because they’ve already proven that the business model is profitable and meets the needs of its customers. Prospective owners are carefully screened and required to spend some time inside a franchise unit before being approved for a purchase.

There’s no such thing as guaranteed success, but choosing ownership within the right franchise comes pretty darn close.

If I can help you decide what franchise concept is a right fit for you, let’s chat! 

WhatTheFranchise.com

Whatthefranchise is a Strategic franchise consulting firm that has helped people for over 30 years to find the best franchise via proprietary assessment tools.

Marshall’s background includes over 41 years of business ownership, sales, marketing, and consulting experience.  His first endeavor as an entrepreneur was as an independent contractor for the southeastern United States, with the Optyl International Eyewear company based in Austria. During his tenure with Optyl, he was awarded the Consultant of the Year for the United States. Marshall parlayed his success with Optyl into a successful partnership of optical retail superstores in Jacksonville. His company also worked as an outside consultant for Vistakon, a Johnson & Johnson company.

The post How to Choose a Business That Won’t Fail appeared first on What The Franchise.

Business buyers, whether they’re experienced owners or purchasing their first company, love franchises. And for good reason. Acquiring a franchise means you have a greater chance of being successful more quickly. You’re buying into a proven business model that works across geographic and demographic lines, a recognized brand with corporate marketing support, a well-defined audience and product offerings, and clear operational guidelines and business goals.

Franchisors screen potential buyers carefully, both for fit and for financial viability, and provide transparency in the application process so there are very few unknowns on either side of the purchase. All those factors go a long way toward mitigating risk for a new owner.

That’s why lenders love franchises, too. Most lenders are very willing to pre-qualify a buyer for a franchise loan, which gives both the buyer and seller confidence that the deal has a high probability of closing cleanly and quickly. The SBA’s  7(a) loan program is the flagship product for general financing. Franchise owners can use this loan for purchasing real estate, fixed assets, working capital and even refinancing existing debts. With amounts available up to $5 million, business owners can use it as a loan to buy a franchise and cover initial startup costs.

If you’ve considered starting or buying a business but don’t want to take on loan debt, there may be another solution: using your own 401(k) or IRA as a source of funding. I’ve written before about the ROBS (Rollover as Business Start-Ups) program. The program was designed in cooperation with the IRS to allow workers to leverage the funds they’ve invested over the years and use them to build, buy, or grow their own business.

The ROBS program now has a proven track record lasting almost thirty years. The program has helped thousands of entrepreneurs receive funding in a way that is safe, effective, and legal. It’s also quick – many receive their funding in as little as 10 business days.

Experienced franchise owners who are expanding their holdings may also qualify for better terms from lenders. Because they have a proven track record and represent much less risk than the typical business startup, lenders may offer to forgo requirements for collateral or offer terms as low as zero down. 

Franchisors may offer financing directly through the parent company, but more commonly, they partner with preferred lenders who administer the loans. These lenders understand the industry, the business model, and the process for applying to own a franchise, which shortens the learning curve (and loan approval time) considerably.

Preferred lending arrangements provide partner banks deep historical insights into the franchisor’s model and success rate, and an understanding of franchisees’ needs and performance metrics. By partnering with a franchisor and documenting most of the risk factors up front, banks can quickly and effectively get through the underwriting process and make better and more timely decisions. 

The health of the franchise brand may also help the chances of getting a loan. If a brand is strong and growing, lenders are willing to take risks on borrowers they may have passed over for a conventional business loan. A brand that’s in decline, conversely, may hurt a borrower’s chances of getting funding, no matter how strong their personal financial position.  

Whatthefranchise is a Strategic franchise consulting firm that has helped people for over 30 years to find the best franchise via proprietary assessment tools.

Marshall’s background includes over 41 years of business ownership, sales, marketing, and consulting experience.  His first endeavor as an entrepreneur was as an independent contractor for the southeastern United States, with the Optyl International Eyewear company based in Austria. During his tenure with Optyl, he was awarded the Consultant of the Year for the United States. Marshall parlayed his success with Optyl into a successful partnership of optical retail superstores in Jacksonville. His company also worked as an outside consultant for Vistakon, a Johnson & Johnson company.

The post Another Franchise Advantage: Financing appeared first on What The Franchise.

According to a 2024 survey from Franchise Business Review, the average annual income for a franchise owner with a business open for 2–10 years is $130,000, and $177,240 for businesses open for more than ten years. Those figures represent full-time ownership and an established brand. Other franchise concepts only require part-time ownership involvement and pay around $39,000.

To get a realistic picture of how much money you can earn, you first have to understand the franchise model.
After you demonstrate your interest in ownership and the franchisor decides it’s interested in you, you’ll move on to a discovery day. This is a common term for visiting the franchisor at one of their locations and learning more about what the business is all about. You’ll leave with a clear understanding of what a day in the life of an owner and the staff is like.

This is a key step in determining whether this company is a good fit for you and if you can commit to the work it will take to become successful. If it’s not a good fit, chances are you’ll have a harder time making it to the top tier of earners. That’s why my coaching model includes careful analysis of how and how much you want to work in your business.

Franchises are normally sold within a market or territory. Market size can be determined in several ways: by city, county, zip code, radius, or other geographic factors. You usually have the option to decide how large this area is, and the franchise fees scale up as you expand your “protected territory.” I encourage clients to develop a clear vision of their financial goals so we can make sure your trading area has the potential to not only replace your income, but also leave plenty of room to exceed the income you’re used to.

Your decisions at this point are a significant factor in how much you’ll be able to earn. It’s a pretty straightforward equation of risk and reward. Buying a minimal territory (for a minimal cost) is possible, but the small market will also limit your income potential. You can always try to expand your territory later, if it’s still available, but you might find yourself in a situation where the territory is sold to someone else, locking you out of any expansion in your area.

How much you can earn in a franchise then, like any other business opportunity, largely depends on your appetite for risk and how long you are willing to work to get to your Return on Investment (ROI).

The good news for you is that whatever brand or size territory you choose, the risk of failing in owning a franchise has largely been mitigated. That’s why business owners, especially first-time owners, love franchises. You’re buying into a proven business model that works across geographic and demographic lines, a recognized brand with corporate marketing support, a well-defined audience and product offerings, and clear operational guidelines and business goals.

After that, it’s all up to you. If I can help you determine which franchise would be the best fit for you, The first step would be to present you with options that match your interests and goals.

Whatthefranchise is a Strategic franchise consulting firm that has helped people for over 30 years to find the best franchise via proprietary assessment tools.

Marshall’s background includes over 41 years of business ownership, sales, marketing, and consulting experience. His first endeavor as an entrepreneur was as an independent contractor for the southeastern United States, with the Optyl International Eyewear company based in Austria. During his tenure with Optyl, he was awarded the Consultant of the Year for the United States. Marshall parlayed his success with Optyl into a successful partnership of optical retail superstores in Jacksonville. His company also worked as an outside consultant for Vistakon, a Johnson & Johnson company.

The post How Much Money Can I Make in a Franchise? appeared first on What The Franchise.

The post “Finding Your Frequency” with Marshall Reddy of What The Franchise appeared first on What The Franchise.

Franchises are regulated by the Federal Trade Commission, and the law that outlines what a franchisor must reveal was established in 1979. Once a prospective buyer and the franchisor have established a mutual interest, the franchisor will send the Franchise Disclosure Document (FDD.) Prospects are required to send back a receipt of the document, which starts the clock on the 14-day discovery and decision phase. The prospect can only purchase the franchise after the 14 days have passed.

You can see how this document is designed to protect both the buyer and the franchisor. Its structure provides almost complete transparency (more on what information franchisors provide later.) The process prevents a buyer from making a decision without all the information they need. It also protects the franchisor from being accused of misleading a franchisee.

This is different than any other kind of business sale or startup. If you’re starting your own business, you are relying on your own research and estimates (and hoping they’re correct.) If you’re buying an existing business, you’re relying on the seller to provide complete and accurate information. (Spoiler alert: it’s not always complete or accurate.)

But with a franchise, you get full disclosure before you’ve ever signed anything.

Here’s some of what the Franchise Disclosure Document includes:

• A history of the company and information about the executive team. They will be your partners in the business, so you’ll have some background. You can use it to decide whether they have the right experience to make them a fit for you.
• Financial reports for the last three years of the business. You’ll be able to see whether the company has a sound financial position and evaluate data about its growth.
• Whether there is any pending litigation against the company from franchisees or regulators.  
• The cost of ownership. This is presented as a range based on historical data. Licensing, rent, the cost of labor, and other factors can vary widely based on location. But this line item clearly states franchise fees, buildout requirements, and other franchisee costs.
• Earnings claims: About 40% of franchisors include this information, which is also based on historical data. Some present it in quartiles, the top quartile has historically earned, the bottom quartile has averaged this, etc. Some companies present full financials from every franchisee as an addendum. No matter how much information you receive, you’ll want to talk to actual franchisees to verify their earnings and their experience with the company.
• That’s why it’s so valuable to receive a list of all existing franchise locations and complete contact information for the owners (including a list of those who have left the company within the last three years.) You can choose to talk to owners who are in the early phase of ownership or to the more established franchisees. Most busy owners choose to do group calls or Zoom meetings rather than speak to every prospect. But no franchisors are on the calls, so you can ask anything and get the unvarnished truth in return.

You can see why franchise buyers have more confidence than most business buyers. They have access to a proven model of success and a support system that helps them avoid pitfalls and maximize their earnings. The Franchise Disclosure Document also provides enough information to alleviate some of the anxiety of starting a new business. It helps you make a clear-eyed, informed decision about whether this opportunity is right for you. 

Whatthefranchise is a Strategic franchise consulting firm that has helped people for over 30 years to find the best franchise via proprietary assessment tools.

Marshall’s background includes over 41 years of business ownership, sales, marketing, and consulting experience.  His first endeavor as an entrepreneur was as an independent contractor for the southeastern United States, with the Optyl International Eyewear company based in Austria. During his tenure with Optyl, he was awarded the Consultant of the Year for the United States. Marshall parlayed his success with Optyl into a successful partnership of optical retail superstores in Jacksonville. His company also worked as an outside consultant for Vistakon, a Johnson & Johnson company.

The post The Franchise Disclosure Document: An Invaluable Buyer Asset appeared first on What The Franchise.

It’s easy to let external factors get in your way. The economy is uncertain. Inflation is rising. Money is tight. I hear it’s very hard to hire good people right now. If we go into a recession, will customers stop buying? All kinds of things that are out of your control make it easy to tell yourself now isn’t the time.

Then there are all the things you’re waiting for. “I’ll start a business when my kids are out of school.” Or when you have a certain amount of savings. Or when you finish a project or your spouse’s career hits a certain point. Business ownership is always a future plan waiting for a specific milestone to happen.

Sometimes, it’s about you. Yes, I’m miserable in my job, but how do I know owning a business will be better? What if I don’t succeed? What if I don’t like doing it? What if I’m not ready for this? What if I’m not good at it? 

It’s natural to have fears and doubts – you wouldn’t be human if you didn’t consider a lot of “what ifs.” 

Here’s the reason I encourage people to consider entrepreneurship: life will always be uncertain. The economy will change, sometimes for the worse. But then it will get better. The business will change. Your circumstances will change. We know this – we just don’t know when and how much they will change. 

There’s never a perfect time to start a business. But there’s never a bad time, either. I know dozens of people who started a business in what turned out to be the worst time they could have chosen. Recessions, financial crises, a pandemic… But they still thrived. What happens in the world, in the economy, in your industry, is unpredictable. But as a business owner, you won’t just be a passenger on stormy seas – you’ll be the captain.

One of my favorite proverbs is, “The best time to plant a tree was 20 years ago; the second-best time is now.”  The same goes for starting a business: the best time was a few years ago. You’d be through the hard part and living the life you dreamed of. If you decide to become an entrepreneur, your future is uncertain. But most people don’t consider that if you don’t decide to become an entrepreneur, your future is also uncertain. You’ll just have less control over it.

Entrepreneur, author, and motivational speaker Jim Rohn said, “If you really want to do something, you’ll find a way. If you don’t, you’ll find an excuse.”

The life you want is within your reach. If you’re waiting for a sign that it’s the right time, this is it.

Take the Entrepreneur Test Now

Whatthefranchise is a Strategic franchise consulting firm that has helped people for over 30 years to find the best franchise via proprietary assessment tools

Marshall’s background includes over 39 years of business ownership, sales, marketing, and consulting experience..  His first endeavor as an entrepreneur was as an independent contractor for the South-eastern United States with the Optyl International Eyewear company, based in Austria. During his tenure with Optyl, he was awarded the Consultant of the Year for the United States. Marshall parlayed his success with Optyl into a successful partnership of optical retail superstores in Jacksonville. His company also worked as outside consultants with Vistakon, a Johnson & Johnson company.

The post The Perfect Time to Start a Business appeared first on What The Franchise.