Rochester, NY

By Rick Bisio

The Educated Franchisee

Yesterday I received this interesting question from one of my candidates:

Hi Rick....quick question.....in talking with a friend this weekend......wondering: is there an opportunity to earn a six figure income with a franchise that is strictly home office-based?...all communication done by phone, email, fax, UPS etc.......

- Ernie

Unfortunately, this "quick question" doesn't have a quick, easy answer!

Let's start with the value equation as it relates to franchising. The role of the franchisor is to bring a superior operating system including a protected brand name, training, support, technology and a successful track record. A franchisee is expected to bring a strong work ethic, localized expertise, a customer focused approach and the willingness to market and promote the business. Most franchise systems are more successful with local owners in charge of the operation. Earlier in my career, our franchised restaurant units always out-performed our company-managed locations. A local owner makes a big difference in franchising because they usually have a vested interest in the community and work harder to achieve their goals.

The problem with sitting at home in front of a computer and phone is that you are not adding much value. In most cases you are simply conducting work. Regardless of how hard you work, your business will never be as successful as when you marry your work with a localized effort to reach out to other people, build relationships and establish a reputation in your local community.

If you want to spend the bulk of your time on the computer and phone, you might want to look at a category called ‘Business Opportunities.' Some ‘Business Opportunities' try to sell educational programs. Others call for the investor to provide labor. I received this email today:

‘This online business changed my life!

Easy Craigslist Income - Just another day at the office.

Get a free CD that can show you the lazy way to make money online

using Craigslist to make a fortune.'

This is most likely an example of a 'Business Opportunity' selling products or services for someone on Craigslist. Yesterday, I received an identical email advertisement with the word ‘EBay' substituted for ‘Craigslist.'

Another recent solicitation said . . .

‘Work at Home - Easy Work - Great pay - Start today.

No prior experience, education or special skills required.'

There are many similar ‘opportunities' that land in email inboxes every day. So, can you make a six figure income with these types of ‘opportunities?' Quite frankly, I don't know. There is no requirement that the seller provide any type of information regarding earnings or success, nor do they have to provide a complete list of people that have used their ‘system' to make ‘easy Craigslist income' or ‘great pay.'

You might ask for a list of their current partners so you can randomly contact them and evaluate their success for yourself before making a decision. This may not be required by law, but if their response to your request for more detailed information is not satisfactory, it may provide a strong indication about their level of business success overall.

There are also hot new distributorships such as MonaVie. These types of business opportunities are now required to share basic earnings information. A review of the 2007 MonaVie Income Disclosure Statement shows that approximately 9% of individuals that have joined MonaVie have achieved Distributor status. Nine out of 10 Distributors have a gross income of less than $9,000/year. And 99% of Distributors have a gross income of less than $100,000 per year. No information is provided regarding Net Income. To be fair, many people look at these types of business opportunities as a way to make supplemental income and may choose to work part-time while keeping another job. The income earned may be acceptable based on the amount of time and effort they commit.

If ‘Business Opportunities' are not going to work for you, you might like to consider consulting. Becoming a successful consultant earning a six figure income rarely involves just sitting behind a desk or a computer all day. The first thing needed is subject matter expertise and training. Once you have this, you need to get out in the local community and market and sell your services.

As a veteran franchise consultant, my path to success absolutely required getting out of the office and building relationships while also providing a consistently high level of subject matter expertise. Even today, I am still very involved in activities across Florida. Last week I was in Tampa, Sarasota and in Naples meeting with people and conducting presentations. Consulting is about building a reputation and meeting people.

In summary, there are many business ownership paths to examine including home-based and office-based businesses. The trick is to find the ‘opportunity' that offers you the greatest chance of success and meets your lifestyle and income requirements. You need information to make an informed decision and the willingness to commit the time and energy to get out in the local community and make something happen. In addition, you may encounter setbacks. You will have to stick with it during the start-up phase and understand it may take a time to make the six figure income you desire.

There are no easy roads. It all takes effort. So, next time someone says they want to sit at home all day and make a six figure income, ask them if they are looking for a business or a job. And if you hear of an ‘Easy way to immediately start making big money,' don't walk away from it - RUN!

This article was written by Rick Bisio of FranChoice Consulting. If you would like to learn more about how to identify a great franchise businesses and stacking the deck in your favor, go to http://www.educatedfranchisee.com or buy the book - The Educated Franchisee - on Amazon.com. Rick's books and articles cover everything you need to know about buying a franchise, owning a franchise, franchising skills and requirements, finding the right franchise, recognizing great business opportunities, starting and building your own business and more about business franchises.

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com
http://www.educatedfranchisee.com

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The University of Rochester and the City of Rochester each are offering $3000 in assistance to full and part time employees of the University of Rochester that buy a home in select neighborhoods in the City of Rochester. In addition, Advantage Federal Credit Union and Canandaigua National Bank & Trust will provide an additional $3000 in assistance.

The targeted areas for the incentive program are the 19th Ward, Plymouth-Exchange on the west in Sector 4; while to the east, they include Highland Park, the South Wedge and other nearby communities in Sector 6. They are the neighborhoods that are closest to the campus.

These neighborhoods provide a wide variety of homes in a broad price range. At the upper end of the range is a beautiful 2000 sq foot Arts & Craft style home listed at $186,900 ( www.RochestersBestHomes.com/808603 ). The South Wedge Neighborhood is a popular neighborhood for young professionals and has several nice options. For example, a 5 bedroom home with lots of natural woodwork goes for $122,000 (www.RochestersBestHomes.com/812319 )

On the west side, there are approximately 100 current listings of single family homes, with prices between $20,000 (needs lots of work! to $145,000. A cute bungalow style home with three bedrooms and 1 and a half baths is listed at only $61,500 (www.RochestersBestHomes.com/805433 ) or a drop-dead gorgeous colonial with new kitchen and as well as recent new furnace, AC, roof for $119,500 (www.RochestersBestHomes/733325)

In addition, NeighborWorks Rochester will be providing participants with home ownership counseling. For additional information about this program and an updated list of eligible properties, and other information about Rochester real estate drop me an e-mail or give me a call.

Mary Shelsby MShelsby@gmail.com office: 585-756-7457 cell: 585-414-5513

From the Desk of Don Draughn, Mortgage Professional

Website:  http://ahfmortgage.elliemae.net/ddraughn

http://www.dondraughn.com/

Listing Agent

Michele Ladd Office: 585.389.4017 Cell: 585.729.0966 Email Agent

Description You Are Cordially Invited to Visit This Gorgeous Ranch Home on 3 Country Acres, Large Country Kitchen, Vaulted Ceiling, Master Bath, Radiant Floors, Full Basement with High Ceiling and Poured Concrete Walls. Only 4 Years Old So Nothing Needs to be Done, Move Right in, It is Spotless. 15 Minutes to the Mall!

Want to hear more?
For an audio tour call 1-800-295-2797 and enter property code 62808.
Features

From the Desk of Don Draughn, Mortgage Professional

Website: http://ahfmortgage.elliemae.net/ddraughn

http://www.dondraughn.com/

According to CNNMoney.com, mortgage interest rates could begin to see some very interesting formulas emerge when it comes to calculating what interest rate will be offered to borrowers. The article that was posted on May 7 can be read at "The New Mortgage Rate Calculus".

According to this article, mortgage rates could see some criteria resembling that used to calculate homeowner's insurance rates which "takes into account dozens of factors, including your neighborhood, whether your house is brick or wood, its replacement cost, its proximity to a fire hydrant, your credit score and past insurance claims for the house before you bought it."

This will make it even more important to be prepared when applying for a mortgage. Borrowers, particularly First Time Home Buyers, need to be ready to provide the banks with a multitude of information that they did not have to provide in the past.

The most important thing that borrowers need to be prepared for is a high scrutiny of credit history. Credit scores are extremely important as well as payment history. What used to be considered minor blips are no longer minor. If a credit problem occured because of something out of your control, be prepared to prove it with documentation - including copies of medical records if it was an unexpected illness that brought on problems.

You can learn more in an article I posted several weeks ago entitled "I Want to Buy a Home. Where Do I Go From Here?"

Don Draughn is a Professional Mortgage Consultant and a Sale Manager at Affordable Home Funding, Inc. located at 900 Perinton Hills Office Park, Suite 970, Fairport, NY, 14450. His phone number is (585) 425-5811 or Toll Free (877) 223-0480 ext. 111.

REGISTERED MORTGAGE BROKER - N.Y.S. BANKING DEPARTMENT

Loans arranged with 3rd party providers. Borrowers must qualify.

The lilacs in my yard smell sooooo good. I made a bouquet and brought some indoors. It makes a house feel more like home, with fresh flowers in it.

Our annual Lilac festival In Highland Park will begin tomorrow (Friday May 9, 2008) and run until May 18th.

The hours are 10:30 AM until 8:30 PM daily.

Each May, the Lilac Festival signals spring as Highland Park's 1,200 lilac bushes display a floral rainbow of more than 500 varieties, from deepest purple to purest white, from lightly scented to irresistibly aromatic. They cover 22 of Highland Park's 155 acres.

John Dunbar planted the first lilacs at Highland Park in 1892. During his years as park horticulturist, he gradually expanded the collection and introduced more than 30 new varieties to the trade. Dunbar's successor, Bernard H. Slavin, built Highland Park's Lilac Collection into the largest in the world.

You can read more about the Lilac Festival here: http://www.lilacfestival.com/

It's a great way to get out and enjoy Spring with family, and friends.