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Franchise Ownership Doesn't Need to Feel Overwhelming Some brands are designed to offer an easier onramp to the entrepreneurial life.
Those who understand franchises, and a great deal of those who don't, have all heard the same stereotypes about franchising. An all-star class of common myths continue to circulate despite the industry's best attempts to dispel them. Such as "Franchises are just fast food," or that they're "Get rich quick schemes." Or perhaps you've also heard that you'll need millions of dollars in net worth to qualify, not to mention the impending purchase of a pricey brick-and-mortar storefront.
While these requirements are a reality for a select few high-profile brands, the beauty of franchising comes from the sheer number of business opportunities in the marketplace. There are approximately 4,000 different concepts to consider, all at different price points and levels of involvement. This means that entrepreneurial candidates don't have to view franchise ownership as an overwhelming proposition.
Some franchise models, like Class 101, are not only exceptionally affordable, but they're also simple to own and operate from home. Let's review how this college planning franchise opportunity positions itself to entrepreneurial candidates.
A service-based business opportunity.
Class 101 provides a valuable service to its target market of high school-aged students. Thus, there are no products, no inventory to maintain, and no overhead. The single best quality owners need to possess is the innate ability to network with others, as word-of-mouth referrals account for approximately 90% of new customer acquisitions.
Class 101 owners aim for 100 client referrals a year, with a goal of just 40 to 50 students enrolled which are certainly attainable goals. While Class 101 does come with extensive support from corporate, including marketing, curriculums, operations, and comprehensive training, there's simply no substitute for establishing a reputation in your own community that you've got a valuable service to offer.
No overhead to speak of…
Class 101 was designed to be an easy-to-own home-based or mobile business opportunity. Thus, no need for site selection, pricey commercial real estate, and finding a location with enough demographics to support recurring foot traffic.
"A typical day at Class 101 is best described as not typical," says Andrew Zahuranec, owner of two territories in South Oakland, Michigan and Cleveland. "In other words, we have so many different students, so many different situations that occur, no two days are the same and that's really what makes this job so interesting. What I love about the concept is that you're an independently owned and operated location, but then you also are part of a bigger team, bigger family, and you have the support from the corporate team, other franchise locations." And owners can start impacting students in 90 days or less from signing their franchise agreements.
An affordable franchise in a high demand marketplace.
The initial franchise fee for Class 101 is an affordable $39,900, priced lower compared to other education-related business opportunities. But thanks to a thriving marketplace, the earnings potential for franchises is more than double this amount following the first year in business.
"I started exploring and lo and behold I found Class 101," says John Izzo, franchise owner in Pittsburgh. "Initially, honestly, I almost felt like it was too good to be true. My favorite part about Class 101 is working with the students. The relationship that you can build with them, and you can build with the families; It's truly one of a kind."
And the current industry outlook? A recent public agenda report from the Bill & Melinda Gates Foundation revealed that almost half of high school students don't feel like they get enough assistance from current resources. When you couple the Class 101 opportunity with the increasingly competitive world of college acceptance, it's a win-win proposition.
As you can see, not all franchise opportunities are equal. But it most certainly is possible to find a simple-to-own, simple-to-operate business model that's affordable, home-based, and in high demand.
To find out if the Class 101 franchise opportunity is right for you, visit class101franchise.com.