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Set your own hours as boss, but the costs can be high
By Paula Schleis
Beacon Journal
Published on Monday, Dec 17, 2007
Michael Whalen's road to franchise ownership started three years ago, when he was stuck in a corporate meeting in Arizona.
A well-traveled director of print and document operations for 200 OfficeMax stores, Whalen took a break to check in on his son's fifth-grade basketball championship game back home in Stow.
''As I was listening to the game, I knew it was time to go home,'' Whalen, a father of two, said.
Last year, Whalen, 48, opened a Huntington Learning Center in his hometown, where his staff offers supplemental instruction in reading, writing and math to school-age youngsters.
''I quit my job. I rolled the dice. It was the hardest thing I've ever done,'' Whalen said.
That someone with 20 years of experience in printing would end up owning a children's education company speaks to the diverse world of franchising.
With home printers contributing to the decline of professional printing services, Whalen and his wife, Mary Kay, wanted a business in which demand was growing.
And franchising — in which new business owners get training and support through those first fragile steps — offers many more opportunities than fast-food chains that might come to mind.
Joel Libava, president of Franchise Selection Specialists, coaches perspective franchise owners through their options. His clients come from throughout Northeast Ohio. (His service is free; he's paid a finder's fee by the franchisors.)
The needs of franchises can be very different, he said. Some operate 9-5 on weekdays; others operate around the clock.
Owners should also consider how active they want to be. Some franchises fare better with hands-on ownership; others suit those who plan to be absent a lot.
For instance, many new franchise owners are people who lost manufacturing jobs, not folks trained in sales.
''If someone is more of a behind-the-scenes person, I wouldn't present them with a franchise opportunity that requires they meet a lot of people to do marketing,'' he said.
And with about 3,500 franchising businesses, there's a field to suit almost any talent and interest — from pet stores, cleaning services and hair salons to information technology, fitness and senior care.
But the most important role for any franchise owner is business development, Libava said.
Whalen spent five weeks in a training program to learn about Huntington. He works to grow the company, but he leaves the operation of the center in the hands of a director with a master's degree in elementary education.
''My philosophy is to hire people around you who can do the job better than you,'' he said.
Libava predicts that 2008 will see more people than ever looking at franchise opportunities. That traditionally happens in a slow economy, he said, because more people find themselves looking for alternative careers.
According to a new report by the International Franchise Association, a record 30,000 new franchised start-ups in more than 250 business categories were added to the U.S. economy in 2006.
But there are some bad franchises out there, Libava said. He tries to steer his clients away from fads, away from companies growing so fast that their support staff can't serve new owners well, and away from ideas that won't work in Northeast Ohio.
He also points out misconceptions that potential business owners might have about franchises they're interested in.
For instance, someone with a background in graphics might think a sign franchise would scratch their creative itch, but in practice, the business owner probably wouldn't be the sign maker, but the person who's going door-to-door trying to drum up business.
Whalen cautioned potential franchise owners to do their homework. He spent months looking at various companies and doing market research before settling on Huntington.
''The most helpful thing was meeting with current owners,'' said Whalen, who felt they provided him with honest insight into the pros and cons of each opportunity.
A Huntington franchise costs $40,000, with another $150,000 to $250,000 investment necessary to secure a location, inventory and staff.
''The one thing I'd tell any franchisee is, don't get in it thinking you're going to make the money you made in corporate America in six months,'' he said.
It can take a couple of years or more to recover from losing one's old salary and benefits.
Whalen said so far he's meeting all his financial goals.
But most important, he said, ''I live a mile from work, and I have time to coach all my kids' sports.''
Paula Schleis can be reached at 330-996-3741 or pschleis@thebeaconjournal.com.
Michael Whalen's road to franchise ownership started three years ago, when he was stuck in a corporate meeting in Arizona.
Get the full article here.
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