Jeff Lerner can provide you with an educated entrance into the franchise market. He has achieved his financial goals and has set out to inform others about building a solid foundation in matters of wealth and establishing balance in all aspects of their life. Through the experience he gained from his former franchise he owned and his current employment with Wealthmasters, he seeks to teach others in order to provide them with a better quality of life and place them on the path of success. The tools he utilizes teach others about self-control to make their dreams and goals a reality. Ultimately, he enables people to accomplish and set their financial affairs in order so that more focus can be placed on one’s purpose in life.

If owning a franchise business is what you seek, Jeff can teach you his vast knowledge of that business. He offers answers to seven vital questions, regarding the start of a franchise. These questions discuss time scales for success, management of a franchise, the legalities of the business, costs, and more. Each tool provides individuals with ways to succeed in starting a franchise and operating one.

Owning any business, you do have the privilege of being your own boss on your own hours; however, with starting any business where employees work under you, management requires a price of some level of scrutiny and working on other’s time in order to accommodate. Not to mention, the time involved in becoming familiar with the operation of the new business.

Now, if you are reading this and thinking that a traditional franchise sounds appealing, but like more work than you planned, Jeff Lerner offers further ideas and ways to acquire franchises that are home-based franchise opportunities. That’s right. I said, “home-based franchise opportunities.”

Imagine omitting two paragraphs above while still owning a franchise and working from home. I am now working from home, and I choose my own hours. If I have a couple of minutes, I pick up my lap top and go to work. If I need to wait until the kids are in bed, so be it. I can sit in sweats and accomplish what I need to in between laundry loads, while snacking on an apple and running a load of dishes. If I feel the need to take a break for fresh air, my tennis shoes are by the door and the sunshine outside looks most cheerful and inviting. Again, self-motivation with a drive to work hard is necessary. However, it is possible to relax and accomplish your financial and career plans at the same time. Home-based franchise opportunities are the way to go!

Jeff offers a vast wealth of knowledge, regarding franchise business opportunities. Check his work out on the web. You won’t regret it!

Brick and Mortar vs. Online

When most people think of starting their own business, they tend to envision a traditional “brick and mortar” business, i.e. a business which requires an actual building to conduct operations from. Luckily, in today’s internet age, other options exist. Many people are flourishing today running their own online businesses… businesses devoid of the hassle of employees, overhead, long hours, and so on.

Read the following article for a detailed comparison of traditional brick and mortar business and non-traditional online business.

Cost

Whether you’re looking to buy into a franchise, or whether you’re looking to start your own brick and mortar business from scratch, you’re going to face a serious start up cost. Investing in a franchise will set you back somewhere in the hundreds of thousands of dollars, while a brick and mortar business will have you investing in equipment, furniture, legal and consultation fees, licensing fees, internet and phone connections, taxes, and of course… a location.

Every business is different, so of course it’s impossible to say exactly how much all of this will cost you, but it’s suffice to say that it’s probably going to take a hefty loan from the bank for you to get started.

A legitimate online business will set you back significantly less money. Exactly how much is hard, as it will depend on which online opportunity you decide to join. However, if you are serious about starting your own legitimate online business, it’s not going to be free. Most genuine online opportunities will have you investing anywhere between $1000 and $10 000. Just like any traditional business, it takes money to make money. If you’re looking to get into online business and you have a “get rich quick” mentality, I would suggest looking elsewhere… because it doesn’t exist online.

Workload

Most people venture into online business not for the money, but for the personal time and freedom the minimal workload and the ability to work from home will allow them. Most top earners in the industry today spend around 30 hours a week on their business. This is time spent from working from home, at any period of the day or night. As a brick and mortar business owner, exactly how much you work is of your own accord of course, but it’s extremely rare to find a traditional business owner turning a profit with such a minimal and flexible schedule.

Convenience

Much of the hassle seen in traditional business is virtually non-existent in online business. As a brick and mortar business owner you’re reliant on others, i.e. your employees, to help turn a profit. Online business owners do not have any employees… they are 100% reliant on themselves. This also means they do not pay any wages.

Overhead (expenses which do not directly contribute to profit) is another unfortunate necessity of traditional business. This may include rent, accounting fees, advertising, depreciation, insurance, interest, repairs, supplies, taxes, and so on. For the mere fact that you will be working from home, as an online business owner, most of these fees are non-existent.

Lastly, managing inventory is a major hassle seen in traditional business, and something online business owners do not have to deal with. As an online business owner, any necessary stocking or moving of inventory is taken care of for you by the company you’ve partnered with.

Time-To-Profit

Typical “time-to-profit” or “time-to-recoupment” for traditional brick and mortar businesses tend to be defined in years… partly due to the massive initial investment you’re required to make. As an online business owner, your turn-around time is going to be largely dependent on how much time and effort you’re willing to put into your business. A typical turn-around time for an online business would be a few months, however, it is not overly uncommon to see someone turning a profit within a few weeks if the determination is there.

As a final note, with any business, you have to be careful about what you’re getting into. Not all online businesses are genuine, and some are flat out scams. If you’re thinking about getting into online business, do your due diligence… do some research and find a legitimate businesses to join. Ensure you will be provided with the proper training and resources to market your business online. Do so, and the time and freedom you desire could be yours.

Franchise Business vs. Non-Franchise Small Business

If you’re looking to start your own brick and mortar business you have essentially two options…start your own small business, or buy into a franchise. While franchises do have a slightly higher success rate than non-franchise businesses, they are not easy money or guaranteed success by any means. Both options have their own pros and cons… the following article will discuss.

The main difference between franchise and non-franchise business, is that as a franchise owner, you will have a system and proven business model in place for you follow. The system will generally dictate how business is conducted, suppliers, advertising, hours of operation, and so on. Yes this is a great system to have in place, however it’s a common misconception that this is some sort of “turn-key” solution, and an easy ticket to generating income. Whether you’re an independent business owner, or a franchisee, there’s no way around putting some good hard work into your business to make it successful.

As a non-franchise owner, this system will not be in place for you… all is up to you to figure out. This may seem daunting, however it allows for a great deal of personal freedom not seen in franchising. You set the hours of operation, the wages, and you do business how you want, not how someone else tells you how to do it. Additionally, while the system in place in franchising may facilitate the running of your business, it may also result in wasted money. You’re often forced to deal solely with one supplier or advertiser… you can’t shop around for better or cheaper deals.

The cost of franchise business and non-franchise businesses actually tend to be quite similar. As a non-franchise business owner you’ll be responsible for equipment, furniture, legal and consultation fees, licensing fees, and so on… much of which is included in the cost of what a franchisee would pay for their business. However, what a franchisee is also paying for is an established brand name and the business model and system we just discussed… which can get quite pricey with some of the better-known franchise businesses.

Finally as a franchisee, an established brand name may help to bring in business… something which an independent business owner lacks. However, again, this is by no means a determination of success. Market saturation, advertising, location, the state of the economy and so on, will all be factors in determining the success of a franchise business and non-franchise business.

Jeff Lerner is a successful home-based business owner, and professional internet marketer with CarbonCopyPRO. Jeff is currently number 317 on the list of top earning home business owners in the world… no small feat considering he began his online business only 10 months before this interview.

Jeff’s entrepreneurial endeavours haven’t always been successful however. Previous to starting his own successful home-based business, Jeff tried his hand at franchising… with disastrous results. Only a few short months after investing almost half a million dollars to begin his new business, both of Jeff’s stores went under, and he fell into $500 000 worth of debt.

I recently spoke with Jeff about his experience as a franchisee, and what led him to internet marketing. The interview was as follows.

Matt: Hi Jeff… welcome… and congratulations on securing your spot as #317 home business owner in the world!

Jeff: Hehe… thanks… I’m still trying to work my way up the list.

M: So Jeff, prior to internet marketing, you were a multi-unit restaurant franchisee. What led you to franchising?

J: I never quite fit into the whole 9 – 5 lifestyle, and more importantly, I wanted to work for myself…not for someone else. This had always played a big role in my life… I’ve worked as a x, an x, an x, and most recently as a wedding performer (?). Working as a wedding performer was particularly fulfilling as playing piano is one of my passions, but all these jobs left something to be desired. I’m not a greedy guy by any means, but the payout wasn’t exactly fantastic. It’s frustrating when you put your passion into something and see so little come out of it… especially when you’re newly married and paying off a mortgage.
I had always thought about owning my own business… it would give me the freedom I wanted, and the potential to make a comfortable living. I had heard that franchising could be quite lucrative, and also somewhat automated due to the systems companies put in place. Since I didn’t have a lot of background in business this seemed promising, so I looked into it further.

M: And what did you find out?

J: Well it turns out I slacked a little bit in the research department. What I “found out” didn’t really turn out to be true. I had read that a lot of the hard work involved in franchising could be done by a manager that I could hire, and that essentially a company system would be set in place for me, and all I would have to do is follow it. The big kicker though was the myth that franchises are safe investments… boy did that turn out to be wrong.

M: So what happened?

J: After talking it over, my wife Laura and I decided that franchising sounded fairly safe, and that it was the way to go. We took the plunge and invested almost $100,000 (plus borrowed $400K more) in two stores.

M: So that’s a total of $500,000? Wow… that’s quite a bit of money to be investing in something when you’re unsure of the outcome.

J: You’re telling me. Right around the time we made our investment, the economy started going down the toilet. Only 9 months into our new business, and Laura and I had lost our entire investment! We were out $500,000!

Luckily we consolidated and were able to get one store paid off, but we were then left with a debt of $253,000. Do you know what it’s like to get a collection letter for $253 000? It’s not a pleasant feeling.

M: What do you think contributed to such horrible results?

J: Well honestly it was mostly just bad luck. As a franchisee you’re completely dependent on the economy. If times are bad, people are going to spend less money. Well times got really bad, and there was nothing we could do about it. What can you do when you’ve just invested half a million dollars and no one’s buying anything because they’re trying to save their money? That’s right… nothing… we had to just watch it all fall apart.

M: How do you feel about the brief period you actually were a franchisee?

J: Well I’ll just tell you that what I had previously read and heard about franchising was not true. A safe investment? Well I think I’ve just shown you that that’s not true. Second, who do you generally see working in franchises? Ya… teenagers. Teenagers who like to fool around on the job, and generally don’t care how business goes. These are the people the success of my stores was going to be reliant on. It’s not a pleasant environment to be fearful about personal liabilities and dependent on teenagers to help you out of it.

M: So you’re out $250,000… how and why did you turn to internet marketing?

J: I didn’t specifically seek out to become an internet marketer. I was researching home-based businesses online one day, and came across a guy claiming to make six figures a month, working from home, without all the hassles of a franchise business… no overhead… no dealing with teenagers… and more importantly… no huge upfront investment.

Did I believe what he was saying? No not really, but I took a risk and (paid a small fee) to look deeper. I then spoke to him personally, told him my story and voiced my concerns, and he just told me what I’d need to do to make it all work for me.

At that point it sounded believable and the more due diligence I did the more this guy and his company checked out.

M: And here you are today… 10 months later, and the #317 home business owner in the world. I guess what this man was saying was true?

J: Oh ya. Was it easy to get here? No… I had to work hard to get to where I am… but it wasn’t rocket science either. Everything internet marketers do to make money is duplicatable and it can scale much faster than traditional business.

You simply follow the leader. Also, the only person I was reliant on to make money was me. No teenagers… no managers… no boss… just me.

M: What about the recession?

J: I’m glad you asked. The internet is virtually the only place in the world the recession hasn’t affected. Internet revenues are going up exponentially as more and more people turn there looking for a less cumbersome way to run a business.

M: Can I ask how much being the #317 home business owner in the world pays by the way?

J: Hehe… about $60,000 a month. I’m hoping to have my first $100,000 month soon.

M: Well Jeff it’s been interesting hearing your story… thanks for your time.

J: Thank you as well… and take care.

Why Any Business Owner Should Know How to Market Online

Learning how to market on the internet is quickly becoming an invaluable asset in any business… online or offline. What’s the first place someone is going to go to find what they’re looking for? Whether it be a t-shirt, a cd, a car dealership… anything. That’s right… the internet. The yellow pages, the white pages, classified ads… these search methods are becoming more obsolete every day, and each new generation is becoming more and more dependent on technology. In today’s age… the internet age… it’s crucial that as a business owner, you learn how to leverage the internet.

Learn how to market online, and you’ve tapped the largest market on the planet… you can reach anyone, anywhere in the world. The most popular sites on the internet today are mostly search engines, and social media sites… both commodities which as a business owner, you can be exploiting to your advantage.

Ever hear of the Drumming Cadbury Gorilla? Cadbury recently made a fairly simple ad of… a gorilla playing the drums. The ad had nothing to do with chocolate whatsoever, but became insanely popular worldwide, and was seen by millions of people in a short matter of time via Youtube. That’s one video, one social media site, millions of potential customers. The possibilities of what you could do with all the available knowledge and tools at hand are endless.

Not only is the internet the largest market on the planet, but learn how to properly exploit sites like Google, Bing, Msn, Yahoo… and you can be targeting thousands of potential customers within minutes. Yes literally minutes. Not only is it fast and its reach worldwide, but it’s effortless too. There is a catch however… jump into this type of marketing without the proper education, and you’ll be eaten alive… you’ll lose more money than you can imagine, quicker than you can imagine. Learn how to use it to your advantage however, and there’s literally no quicker or easier way to earn new business.

So there you have it. Learn how to leverage the internet and reach more potential customers than you could possibly imagine, more quickly than you could imagine, and save your business from the risk of marketing obsolescence.

The 5 Big Myths of Franchising

If you’re thinking about starting your own business, buying a franchise can be one lucrative option. However, franchises are far from the fail-safe opportunity many people believe them to be. As with any business there is risk and uncertainty, and the “proven” system in place to help you run your franchise may not be all it’s cracked up to be. Read the following article for the lowdown on the top 5 franchising myths.

Myth #1: Franchises Are Safe Investments

Nothing is guaranteed in business, and that includes the success of a franchise, regardless of the efficiency of the system used to run it. Many franchisees go into the business believing this myth, only to find out later that the work is much more difficult than they expected. Well guess what… if you’ve invested $500 000 in a franchise and later decide that it’s going to take more personal motivation than you have to run it, then you’re out a $500 000 investment.

More important however are factors which are out of your control as a franchisee. Is the market for your franchise saturated? Do you have the required skill set to run your franchise? And most importantly, the general state of the economy. Many franchisees, and business owners in general, have recently gone out of business due to the horrible state of the economy. A percentage of these people were new to the industry, and found themselves out of investments in the hundreds of thousands of dollar, within only a few short months.

Myth #2: If a Franchise Has Lots of Locations That Means They’re Profitable

Just because McDonald’s has a ton of restaurants doesn’t mean that if you open your own McDonald’s that you’re guaranteed to be successful. In fact, many franchises go under due to mismanagement, or lack of funds. Sure a brand name will get you recognition, but you’re still competing against all surrounding franchises and businesses. Customers aren’t just going to come pouring in simply because you exist… advertising and hard work will play a big role in your success or failure. Additionally a market may become saturated with your product, or you may not have the exact skill set required to run a particular franchise.

Myth #3: Running a Franchise is Easy

If you’re getting into franchising (or any business venture for that matter) because you’re looking to make easy money or looking to “get rich quick”, stop now and look for a different job. Just because there may be a company system in place to facilitate and organize management doesn’t mean it’s going to be easy. There’s simply no replacement for good, hard work in any business.

Myth #4: Running a Franchise is Cheaper than Running Your Own Business

This may be true for some smaller, cheap franchises, but most large, well-known franchises are in fact quite expensive, and will set you back an investment somewhere in the hundreds of thousands of dollars. The money you’re paying for a franchise is going into the established brand name and business model with a certain track record.

Myth #5: As a Franchisee You’re Your Own Boss

Sure this may be true to some extent… you may have to answer directly to anybody, but the company system that’s in place to facilitate your work is going to put some serious restrictions on your flexibility. You may not have the freedom to set the simplest of things, such as wages, hours of operation, advertising, suppliers (you’re often forced to purchase directly from the franchisor, i.e. no going around looking for a better deal). If you’re looking for the freedom of being your own boss, franchising may not be the place for you.

All of the above is not to say that you’re doomed to failure if you choose to own your own franchise. Franchises do in fact slightly improve your chances of success over running your own business. However, if you’re looking for a free ticket, easy money, or sure-fire success… look again… you won’t find that by buying your own franchise.