Disclaimer: This Inside South Florida segment is sponsored by Franchise Expo South. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
Dr. John Hayes, Director of the Titus Center for Franchising, recently joined Inside South Florida to discuss an exciting event coming to the Fort Lauderdale Convention Center on September 6th and 7th—the Franchise Expo South. This event offers a unique opportunity for those interested in business ownership to explore the world of franchising.
The Franchise Expo South is all about franchising and provides a comprehensive overview for anyone looking to own their own business. Franchising offers a structured approach to business ownership, providing potential entrepreneurs with a proven roadmap for success. This is particularly appealing for those who want to own a business but lack the knowledge or experience to start one from scratch.
According to Dr. Hayes, franchising appeals to a broad range of individuals—from Gen Zs eager to establish their own businesses to Baby Boomers seeking new ventures. The primary appeal of franchising is its ability to offer a tried-and-true business model that reduces the uncertainty typically associated with starting a new business. Franchisees benefit from the established systems, support, and brand recognition provided by the franchisor, which helps mitigate many of the risks involved in business ownership.
At the Franchise Expo South, attendees can learn about the various types of franchises available beyond the food industry, such as service-oriented businesses like "Fully Promoted," which provides marketing and business support services. Franchising is not limited to any one sector; nearly half of all retail sales in the U.S. are generated by franchise businesses.
Dr. Hayes will also be hosting a course at the Expo titled "A to Z’s of Buying a Franchise," held at 11 a.m. on both days of the event. This course will guide potential franchisees through the process of selecting and purchasing a franchise, including financial considerations, business planning, and the importance of due diligence.
One common misconception Dr. Hayes addressed is the belief that buying a franchise requires a million-dollar investment. In reality, many service franchises require much less capital, often ranging from $100,000 to $300,000. Additionally, various financing options are available, such as loans from the Small Business Administration (SBA) and opportunities to use retirement funds without penalty through a 401(k) rollover.
The Franchise Expo South is ideal for anyone interested in exploring business ownership through franchising. Whether you’re a recent college graduate, a seasoned professional considering a career change, or a retiree looking to invest in a new venture, this event provides valuable insights into the franchising world.
The Franchise Expo South will take place on September 6th and 7th at the Fort Lauderdale Convention Center. For more details and to register for the event, you can visit the official website, franchiseexposouth.com. Use promo code "TV2024" to gain free admission to the event.
