Why Six Figure W2ersí Buy Franchises |
Itís Conditioned Thinking & Perception
By: Mike Bonventre:
Author, Drug Testing ExposedĒ Loopholes & Trade Secrets
IT IS TOO CHEAP TO BE VALUABLE!
Letís be clear about the sources. What I am about to report is 30 years of consulting experiences. None of what you are about to read is
research from unknown sources or gossip among entrepreneurs. We all perceive things based on our personal life experiences. I grew up in a
family business and have been in business my entire adult life. For the most part I have been a consultant to some of the nationís largest
companies. Early in my career I consulted for the FBI, Ft Lauderdale State Attorney and Broward County Sheriff as a deep undercover organized
crime and narcotics consultant. My job was to undermine and embezzle businesses for drug money as my familyís business was. After I came out
from undercover I became a business consultant. I live in Endicott NY, the birth place of IBM and strong hold of Endicott Johnson Shoe Company.
When IBM laid-off forty thousand local employees in a short period of time and Endicott Johnson eradicated 20 plus thousand employees I
became extremely busy consulting life time employees on starting businesses. I found that I was telling the majority of them they will never
make it in the world of self employment. As I grew to be a nationally recognized business consultant in the drug testing industry I notice
similar mistakes associated with todayís struggling life time W2ers turned entrepreneur. Mostly Franchise owners in all industries but
especially in the drug and alcohol testing industry
Most people can relate to the food industry so let me start there. Take a manager of a national restaurant chain. He or she has spent twenty
years successfully managing the same business. Now they want to open their own restaurant. For the majority this is fatal. Think about it.
For 20 years you are filling orders from a computer printout that has calculated the estimated food usage from a history data bank. You most
likely never had to calculate tourism, weather, construction and the effects of current economical trends on your own. The majority of the
food and recipes were prepared pre prepackaged and there was a chart for cooking times and temperatures. Your spouse did not have a decision
on whether or not to hire a young good looking server with a personality. The biggest drawback is personal decision making rather than purely
professional pre charted decision making once you are the owner. How do you do this when the majority of your career was delegating
responsibility and following corporate directives?
The most common self perception is I ran a multimillion dollar company. The truth is you are gone and the company did not miss a beat or the
company failed which is not the best endorsement of leadership. The I and my mind set doesnít work in the self employed world. I find the
higher up the ladder or the more impressive the acronym in your title the further out of touch the person is with the nuts and bolts of the
ndustry they left. C??ís and C??ís are shielded from many of the facts and mundane daily details of large corporations. Each department
is protected and guarded. It is all about quotas, bottom lines, Bonuses, investors and board of directors.
W2 THINKING ĖV- ENTREPRENEUR THINKING
(W2er) A franchise must be worth it if it cost close to One Hundred Thousand Dollars or more.
A 30 year consultant and active drug and alcohol expert who only charges 1/3 of a franchise must not be worth much. You know you only get
what you pay for.
(Entrepreneur) A true Entrepreneur realizes that all industries become extremely small once you understand the basics. In the drug and alcohol
testing industry you only need an experienced mentor to get you started and stay with you until you can fly on your own. Usually around 6
months. Promoting yourself as a high quality individual owner with a vested interest in your unique name and personal reputation is priceless in an industry
swarming with copy cat businesses, mass certification providers and fly by night operators. A franchise is a copy cat business
that is not unlike a job that you pay a huge fee to work for. In the drug and alcohol testing industry a true entrepreneur would be hard
pressed to spend tens of thousands of dollars for a name, a cloned website and strict franchise operating restrictions that suggest you are
credible because you paid a lot of money to clone yourself.
(W2er)Drug Testing Franchises are better because they are all quality driven, consistent and nationally recognized for their Brands/TMís and
(Entrepreneur) Franchise quality and consistency are driven by the individual owners. **The reputation of a few can cast a negative shadow
on the shared name for all. Every franchise I have reviewed very clearly states this in a disclaimer or fine print. Brands/TMís and proprietary
systems are simply franchise specific re-rights of free mandated operating procedures in the drug and alcohol testing industry that are set
by the DOT, DHHS and product producers. Supplies can be labeled with your logo for a price. Supplies are provided by laboratories, TPAís and vendors free of
charge or included in basic fees. Instant drug screens are required to be used as directed by the manufacturer not any Franchise or
individual business. Once again anyone can have a logo printed for a price.
(W2er) Franchises will often promise clients with national reputations.
(Entrepreneur) This promise often comes with a low bid commitment that can drastically restrict profits. As an entrepreneur you have the
freedom to negotiate directly with any client. This is especially crucial when you are committed to a TPA (Third Party Administrator). As an
individual you can have access to the same national clients that any franchise will offer you. The fact is a national chain has the option
to use anyone they prefer in their local area within their discretionary budgets.
(W2er) Franchises will guarantee you protected territories and you can purchase adjoining territories if available.
(Entrepreneur) Territories only protect you from fellow franchise owners with your franchise name. They donít protect your territory from ten
other franchises and private business owners who may move to the same street on both sides of you or even in the same building. In the event
of a natural disaster you may have to move hundreds of miles to find the closest unprotected territory as your franchisor continues to sell
off territories in your surrounding area.
As an entrepreneur the world can be your territory at 1/3 of the price of a single limited franchise territory!