Six months ago, having just handed in my last assignment for my MBA a week or two before, I signed the paperwork and wrote a big cheque to acquire a home services franchise. OK. The cheque was not big in the land of buying a franchise. But it felt huge in comparison to "my severance has just run out and I only bring in a pittance with consulting and thank goodness I don't have student loan payments".
The analysis behind buying the franchise was pretty easy. First, it appealed to my skills, new and old. Most of the work would be marketing, sales, and human resources. Sales would be the hard part for me. It is difficult to "ask" for the sale, the money, the privilege to provide someone with a service. However, the franchisor had a system in place that would allow me to develop the relationship before asking for the money, so that concern was alleviated. Second, it was affordable. Overall, the investment was a little under $30,000. Lastly, the home services business will generate a positive cash flow immediately.
Here we are, six months later, and things are getting good. I am working on hiring a fifth employee. I do 2-3 quotes a week and convert about 25% to active clients. I get paid a modest salary. And now I am looking for a mastermind group to bring my business to the next level.
Come hang out with me while I go through the process of growing my business and acquire new territories!
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