This post has been sent to me by one of my most successful students, Martin . Please read it carefully because he has some great tips that could change your life !
Today I want tell you about the business model that literally changed my life and allowed me to gain my financial freedom. Most certainly you step into this very same kind of business every day without realising how powerful and how incredibly profitable it is…
So what is this secret business model I am referring to? I am talking about franchises!
If you run a search on Google about the success rate of franchises, you will certainly find a myriad of results on the pros and cons of franchise ownership.
However, the most commonly known statistic about the franchise business model is known as “The Stat” and it says the following:
“Some studies show that franchises have a success rate of approximately 90 percent as compared to only about 15 percent for businesses that are started from the ground up. The increased probability of success usually far outweighs any initial franchise fee and nominal royalties that are paid monthly.”
Whether this statement is true or not is yet to be proven as there is no solid statistical data to verify the numbers.
So instead of dwelling on the numbers and listening to the ‘he said/she said’, I decided to forget the studies, look at the FACTS and also try it for myself.
I chose this approach because I felt it was the best way to answer my most pressing question: “Is it going to work FOR ME?”.
The following blog post is the result of my findings and my honest opinion on this business model (based on my experience).
In addition, I am going to reveal to you exactly what I did (right and wrong) and the changes that this brought into my life.
About 4 years ago I reached a stage where I needed some change in my life. Nothing was going horribly wrong; I just felt that there was more to life than what I had at the time.
This might come as a shock to a lot of people but I didn’t hate my job. As a matter of fact, I quite liked my job. I hear so many stories about people who decided to change their life because they absolutely hated their job and their boss… But for me, in all honesty, that wasn’t the case.
I wanted to earn more money – if possible by working less than before
I wanted to get to a point where I had more free time and financial freedom
Ideally seeing results within a couple of months so that I could start living life to the fullest sooner
That might sound familiar for some of you guys, too.
However there were a lot of things that were holding me back and preventing me from reaching my goals.
For example, I started buying dozens of books on business and marketing but the explanations they contained were so complicated that they made me even more confused!
Obviously my initial goal was to gain more clarity as you can imagine…
Secondly, the more I was learning the more I came to the realization that there were an endless number of components to master before getting anything started. Stuff like:
- Building a website
- Creating a product and an offer
- Getting traffic to my website
- Converting the traffic into buyers
And these are only a handful…this list goes on and on forever.
If that wasn’t bad enough, I realised that this list could be broken down into even smaller and more complicated components that I had to learn.
1) Building a Website:
1- Which technology do you use ?
- WordPress ?
- PHP ?
- HTML ?
2- Which hosting provider do you need?
Which country do the servers need to be in?
2) Creating a product and an offer
What market to create the product in?
What product to create when you have ZERO expertise?
How to price your product?
3) Getting traffic to my website
- Article Marketing
- Social Media
- Press Releases
2- Paid traffic
- Facebook Ads
4) Converting The Traffic Into Buyers
Keyword level tracking
Multivariate testing (MVT)
Alright, I think you get the point. How intimidating and discouraging is that list? I don’t even know the meaning of some of the words I put in the above list to be honest.
The reason why I was afraid to try anything online quickly became very obvious to me.
Not only was it preventing me from starting projects, it was also leading me to give up at the first setback when I finally decided to try my luck.
I had great ideas and ambitions but always abandoned them because I felt that the implementation was too technical and hence out of reach.
I’m sure that some of you guys have been asking yourselves this very question:
“Where do I start?”
My solution came to me from the most unexpected places…I’ll tell you more about it in the next section.