{"id":28256,"date":"2018-06-11T20:35:55","date_gmt":"2018-06-11T20:35:55","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=28256"},"modified":"2022-04-28T13:13:37","modified_gmt":"2022-04-28T17:13:37","slug":"terry-looking-at-franchises","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/terry-looking-at-franchises","title":{"rendered":"Franchise Stories: Part 2- Was Terry In Enough Career Pain To Try Something Different?"},"content":{"rendered":"<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/terrys-franchise-business-story.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-28258\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/terrys-franchise-business-story-620x406.jpg\" alt=\"Terry was in career pain so he looked at franchises\" width=\"650\" height=\"406\"><\/a><\/p>\n<p>This is Part 2 of Terry&#8217;s story.<\/p>\n<p>In case you missed <a title=\"terry was in career pain\" href=\"https:\/\/www.thefranchiseking.com\/franchise-stories-terry\">Part 1<\/a>, Terry was downsized from the company he worked for, and found himself in serious <b>career pain.<\/b><\/p>\n<p>His company was nice enough (<em>cough<\/em>) to offer Terry the services of a career outplacement firm. He told his counselor that he might be interested in investigating <a title=\"different ideas for a career\" href=\"https:\/\/www.fastcompany.com\/3031265\/the-odd-and-surprising-alternative-career-paths-of-6-successful-entre\" target=\"_blank\" rel=\"noopener noreferrer\">alternative career ideas<\/a>&#8230;like becoming his own boss. That&#8217;s how he met me.<\/p>\n<p>If you&#8217;d like to learn about Terry&#8217;s experience, including his foray into <a title=\"world of franchising\" href=\"https:\/\/www.thefranchiseking.com\/the-ultimate-guide-to-the-world-of-franchising\">the world<\/a> of franchise ownership, read this post.<br \/>\n&nbsp;<\/p>\n<h2>Terry&#8217;s Franchise Quiz Results<\/h2>\n<p>Everyone who works with me has to take my free franchise compatibility quiz. Basically, it&#8217;s a way for me to determine if they are a fit for franchise ownership, and if they have the goods to become a successful franchisee. Have you taken my free quiz yet?<\/p>\n<p>If so, terrific. If not, <a title=\"the franchise king's quiz\" href=\"https:\/\/www.thefranchiseking.com\/free-franchise-quiz-fit-franchise-business\">go here to take it<\/a>. 6,500 others have.<\/p>\n<p>In any event, Terry took the quiz, and scored a 48, which is pretty darn high. In other words, Terry possesses the right personal characteristics (<em>among other things<\/em>) to be a good fit for franchise business ownership.<\/p>\n<p>Conversely, if Terry&#8217;s score was 39 or less, his chances for franchise success would be <a title=\"not a good fit for a franchise business\" href=\"https:\/\/www.thefranchiseking.com\/franchise-fit-you-will-take-a-hit-if-you-dont-really-fit\">significantly<\/a>&nbsp;less.<\/p>\n<p>Let&#8217;s continue.<\/p>\n<h2>Our First Franchise Ownership Consultation<\/h2>\n<p>After Terry took the course, he decided to work with me.<\/p>\n<p>He&nbsp;ended up choosing my most popular Franchise Ownership Consultation Package, which includes several one-hour private consultations-along with Email support and a free download of <a title=\"researching franchises\" href=\"https:\/\/www.thefranchiseking.com\/definitive-guide-to-franchise-research\">The Definitive Guide to Franchise Research<\/a>. (<em>If you want, you can check out <a title=\"franchise ownership consultations\" href=\"https:\/\/www.thefranchiseking.com\/franchise-consultations-the-franchise-king\">my Franchise Ownership Consultation Packages<\/a>.<\/em>) I emailed him to schedule our 1st call, and here&#8217;s what we discussed.<\/p>\n<p>The first thing we talked about; the results of the franchise quiz he took.<\/p>\n<p>Me: &#8220;<em>Your score of 48 was a good one. You look like a good candidate for franchise ownership<\/em>.&#8221;<\/p>\n<p>Terry: &#8220;That&#8217;s great. So, where to we start?&#8221;<\/p>\n<p>Me: &#8220;<em>Well, let&#8217;s discuss my process for finding a franchise that makes sense for you<\/em>.&#8221;<\/p>\n<p>Terry: &#8220;I&#8217;m ready.&#8221;<\/p>\n<h2>Determining Fit<\/h2>\n<p>I explained how my process works, from A-Z. Then, I had Terry share what he felt his business strengths were.<\/p>\n<p>He told me that he was:<\/p>\n<ul>\n<li>Highly organized<\/li>\n<li>Process oriented<\/li>\n<li>A good manager of people<\/li>\n<li>Good with numbers<\/li>\n<li>Focused on results<\/li>\n<\/ul>\n<p>After Terry shared his strengths with me, I told him that I needed him to go a bit deeper.<\/p>\n<p>In this case, &#8220;<em>deeper<\/em>&#8221; meant that Terry needed to do a bit more self-analysis, which is something I help my clients to do.<\/p>\n<p>The next thing we discussed was money. I needed to know how much <span style=\"color: #008000;\"><strong>$$<\/strong><\/span> he was comfortable investing in a franchise.<\/p>\n<p>He told me he would invest up to $300,000* in a franchise-as long as he felt it was a good one. A <em>profitable<\/em> one.<\/p>\n<p>*This was the <em>total<\/em> amount Terry was comfortable investing, including $75,000 of his own money, and a small business <a title=\"financing for a franchise\" href=\"https:\/\/www.thefranchiseking.com\/apply-for-a-franchise-loan\">loan<\/a>.<\/p>\n<p>After our discussion of money, I asked Terry if he was attracted to any specific franchise opportunities.<\/p>\n<p>His answer was surprising-to say the least.<\/p>\n<p>You&#8217;ll find out what it was in Part 3 of this series.<\/p>\n<p><b>If you don&#8217;t want to miss Part 3, click the link below.<\/b><\/p>\n<p><span data-sumome-listbuilder-embed-id=\"fbd93252cdc2b9cedd2259d690890500fc4177630dc784c2edc16e38e6dbe20d\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is Part 2 of Terry&rsquo;s story. In case you missed Part 1, Terry was downsized from the company he worked for, and found himself in serious career pain. His company was nice enough (cough) to offer Terry the services of a career outplacement firm. He told his counselor that he might be interested in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[2121,32],"tags":[],"class_list":["post-28256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-career-path","category-franchise-purchasing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Franchise Stories: Part 2- Was Terry In Enough Career Pain To Try Something Different? &#8212; The Franchise King\u00ae<\/title>\n<meta name=\"description\" content=\"This is Part 2 of a series of blog posts focused on Terry, a guy I worked with who found himself in serious career pain. 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Finally, he's been in franchising close to 25 years.","email":"joel@thefranchiseking.com","telephone":"2168312610","legalName":"Franchise Selection Specialists Inc.","foundingDate":"2002-01-20","taxID":"20-1184045","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"1","maxValue":"10"}},{"@type":"Person","@id":"https:\/\/www.thefranchiseking.com\/#\/schema\/person\/b560fd324f6df9be52ac875e631beb66","name":"Joel Libava","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","url":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","caption":"Joel Libava"},"description":"I\u2019m The Franchise King\u00ae, Joel Libava. 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Subscribe to my free VIP Franchise Newsletter.","sameAs":["https:\/\/www.thefranchiseking.com","https:\/\/www.instagram.com\/thefranchchiseking1","https:\/\/linkedin.com\/in\/joellibava","https:\/\/in.pinterest.com\/franchiseking\/","https:\/\/www.youtube.com\/JoelLibava"],"knowsAbout":["Franchising"]}]}},"_links":{"self":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/28256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/comments?post=28256"}],"version-history":[{"count":0,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/28256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media\/28258"}],"wp:attachment":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media?parent=28256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/categories?post=28256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/tags?post=28256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}