An article appeared from Reuters on Thursday about franchising picking up in the US and the first example that they gave is Robert and Dayna Penney:
“(Reuters) – Robert Penney has seen his financial future and it involves heaps of frozen yogurt.
Penney and his wife, Dayna, purchased a Menchie’s franchise, offering self-serve frozen yogurt, in Bellingham, Washington, in July 2011. They expect the business, open since April, to be profitable its first year.
It better be.
“We basically had to put our life on the line,” said Penney, 44, a former corporate engineer. He declined to provide details about how much was invested but said a typical Menchie’s requires $350,000 to $400,000. The couple drew on personal savings and a credit line against their home.
The Penneys are among hundreds of aspiring entrepreneurs betting on the latest trends in franchising. Franchising – which offers branded businesses with established methods of operating – is expected to show modest gains in 2012, as measured in the number of U.S. outlets, after progressive yearly declines since 2008.” To read the rest of the article, click on the link above.
You may not think of the Team Beachbody Coach opportunity as a franchise, but that is exactly what it is. Larry Zimberg wrote this article for the System Series several summers ago and I want to share it here:
McNuggets on Clearance
Ever drive by a McDonald’s and see a gigantic “Going Out of Business” banner hanging over the golden arches? No? How about the McNuggets clearance sale? No on that one too, huh? Well, if you haven’t, it’s because it hasn’t happened and probably never will.
According to the Small Business Administration, franchises have an extremely high rate of success, while almost the opposite is true of an independent, small business. What is the main reason for this intriguing statistic? Well, when you buy a McDonald’s, what you’re really buying is a proven system and a blueprint for success. You don’t need to have a background in beef to be successful with a McDonald’s; you just need to go to hamburger school and follow the system. There is the small matter of coming up with a million dollars, but let’s set that aside for the moment, because the moral of this story is that people can fail, but rock solid, duplicable systems don’t.
How does all of this relate to our business here at Team Beachbody? It’s quite the same, really. BE SYSTEM DEPENDENT. Systems allow for duplication to occur. Duplication allows you to build leverage, and leverage is the favorite word of the wealthy. Confused? I hope not, but please allow me to explain . . .
The main goal in network marketing is to get a large number of people to do a few simple things over a consistent period of time. However, if everyone’s rowing in a different direction, the boat goes nowhere! Plugging everyone into a simple, duplicable system, and making sure that whatever you do can work 10 levels below you, 2,000 miles away, and with a dud talking to a stud, is how you get there. It really starts with having the right mindset. Before doing an exposure, always think: “Is what I’m about to do with this person something he or she can turn around and immediately do with his or her prospects?” If not, then you might want to reconsider your approach, because 80 percent of a new Coach’s training will be in the recruiting process. Using the system and 3rd Party Tools helps create consistency and reliance on a system, rather than an individual. This is especially important for new Coaches -who will duplicate what you did with them.
Duplication is the key to exponential growth in Team Beachbody. The goal of duplication is to duplicate or replace yourself so that you can achieve true walkaway residual income. It’s not your two-a-day that gets you there, but it’s 1,000 Coaches on your team doing their two-a-days. Duplication is what allows your efforts and the efforts of your team to multiply, which then results in you building leverage. Just remember that duplication begins with you. Your exposure process should leave the prospect being able to say: “I can do what you’re doing; I have the time to do what you’re doing; and I wouldn’t mind doing what you’ve done – ”with my family, friends, and neighbors.” When that occurs, growth is sure to follow.
J. Paul Getty once said, “I’d rather have 1 percent of a hundred people’s efforts than 100 percent of my own.” This is the principal foundation of effective wealth building – and of gaining time and financial freedom. It’s why wealthy people don’t teach their kids to be employees; they teach their kids to become employers. In life you’re either leveraging or you’re being leveraged. It’s one of the two. The good news is that you get to choose! Building leverage doesn’t happen overnight, but with a steady effort over time you’ll create a vehicle that will produce more income and you’ll have more time to enjoy it. That is why I love our industry. It allows the average person an opportunity to build extraordinary income and achieve the same leverage as a business-owner with thousands of employees. Only we get to do it by building relationships, making friends, helping people, and mentoring as many as possible.
Oh yeah, one last thing. Remember the million-dollar investment mentioned earlier? Well here’s the good news: You don’t need it to get started in Team Beachbody, and you can still build a six figure income. What you will need though is a willingness to work, a burning desire to succeed, and to be coachable and teachable enough to follow a simple, duplicable system, and if you do that, you can truly achieve your dreams with the great opportunity that Team Beachbody gives each one of us.
After all, wouldn’t you rather down an amazingly healthy and great tasting Shakeology® than a fat-laden, mega calorie, greasy old Big Mac? Great . . . Now let’s get out there as one unstoppable force, spread the word, and go touch some lives (using the system, of course)!”
The article on franchising goes on to say, “Despite their lack of hype, somewhat less-sexy franchise developments in senior care, business services and cleaning services tend to offer the highest returns for the money invested, said Eric Stites, publisher of Franchise Business Review, which rates franchises independently.
Annual profit for senior-care franchises is slightly below $100,000, roughly on a par with food-and-beverage concepts. However, the median investment for senior care is well below $100,000, or about a fifth of the typical outlay for a restaurant franchise, according to a Franchise Business Review report this year.
Many Team Beachbody coaches are making close to $100,000 and some, much, much more. For an initial investment of $39.95 and then $15.95 a month, you get four websites, excellent training and virtually limitless resources to build your business and to help others to build theirs.
Which franchise would you rather start – restaurant, food and beverage, senior care or a cleaning service and spend a small fortune to start it – or a Team Beachbody “franchise” and work from the comfort of your own home, keeping your own hours and building a business at your ownpace?
To learn more about the Team Beachbody business opportunity, please click here