New Book Shows How To Buy A Franchise With A $240,000 Investment & Sell For $6 Million!
ORLANDO, Fla., Jan. 3, 2019 /PRNewswire/ -- The economy may be booming right now but every business owner understands that running a consistently profitable venture over time will require certain skills, knowledge, resources, and guidance. Meet Christy Wilson Delk, who ran a successful franchise for 15 years. She is the author of a new book for small business owners or those curious about making the leap into entrepreneurship and franchising.
"When I launched a new business and bought a franchise (Kids 'R' Kids Learning Academy) in 1996, I was not in a good place," says Delk, now a full time professor at Rollins College in Orlando, Florida. "At age 35, I suffered a corporate downsizing and I decided to open a business, sell my house, break into my 401K and scrounge up a down payment on a $1.7 million dollar loan to buy and build a franchised business."
She turned her investment of $240,000 into a $6 million windfall. Delk believes that many franchise owners and entrepreneurs make costly mistakes or fail to sell at the right time. Now Delk shares what she learned as she managed her business through two recessions, three hurricanes, two expansions, one divorce, and too many employees to remember them all. Her book, Adventures in Franchise Ownership: 4 Pillars to Strengthen, Protect and Grow Your Business (Morgan James, www.ChristyWilsonDelk.com) relays Delk's keys of successful franchise ownership to those who are struggling.
So what are some of the four pillars of successful franchise ownership?
Layers of Loyalty: How to ensure customer and employee loyalty stays true to your mission.
Strategic Leadership – How to align practical leadership processes and methods with your time constraints and vision for your franchise.
Money Metrics – Knowing the numbers when it comes to your sales, expenses, industry norms, an franchise data will help you project and plan better.
Why do so many people exit a business before reaching their potential and goals? Delk shows us how one can overcome challenges, avoid pitfalls, stay motivated, and leverage new opportunities.
Delk offers a strategic framework for business owners to strengthen, protect, and grow their franchise year after year. Her book includes advice from 16 top-performing franchisers that represent over a dozen market segments.
"To ensure your continued success,' says Delk, "business owners must prepare for the day competitors move in, down cycles occur, the unexpected happens, or business trends change."
SOURCE Christy Delk
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