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Small Business Development Seminar Teaches Individuals About Franchise Ownership

By Michael Hutchins
Herald Democrat, Sherman, Texas.

To encourage business growth of all types in the region, local business leaders in Denison held a seminar on small business franchising on Thursday at the Grayson College Viticulture Center.

The seminar, entitled “Career Security Through Franchise Ownership,” focused on teaching potential entrepreneurs about the realities of franchising while also dispelling the myths.

“Franchises aren’t just about burgers, shakes and fries,” said Certified Franchise Executive Jason Killough. When most people think of franchises, they think of companies like McDonald’s or other restaurant chains, said Killough.

The reality is that only 20 percent of franchises are in food service. The majority are instead service industry companies, which fill over 300 lines of business, said Killough.

Killough spoke on other myths about the industry as he tried to give attendees an idea of how franchises really work.

In his presentation, Killough described what he called the “dreamer” — someone who expects limited hours, a large return on a small investment of resources or energy.

“You are going to work harder than you ever had,” he said.

In describing his work, Killough compared himself to a Realtor matching franchisers with potential franchisees that are looking to open a location.

For some the decision is out of a desire to make a secondary income, but for others it’s a complete change in career path to become their own boss.

“More people go into this job for themselves for added job security,” said Tommi Homuth, job act coordinator with the Grayson College Small Business Development Center. GC partnered with the Denison Development Alliance and Denison Chamber of Commerce to hold the seminar.

“Our goal is to help new business get started, and those already in business to grow,” said Homuth.

The average employee in the U.S. stays with one company for about four years before leaving, compared to an average of 12 years in other parts of the world.

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