Trends in Franchising

The Entrepreneur’s Source Franchise Friday – Types of Franchise Business Ownership

The Entrepreneur’s Source Franchise Friday – The Types of Franchise Business Ownership

This week on Franchise Friday, host Marissa Ruderman will be joined by Gus Iurillo of The Entrepreneur’s Source to explore the topic of semi-absentee franchise ownership as a means of diversification. Gus will share what it means to run a semi-absentee business, who makes a good candidate for this business ownership avenue as well as some examples of semi-absentee business models.

About Our Guest – Gus Iurillo

Gus Iurillo has been an Entrepreneur’s Source coach and multi-unit franchise owner for the last 12 years. During that time, he has helped nearly 250 people to realize their aspiration and to own their own business. Prior to that, he spent 15 years in corporate America serving in marketing roles of increasing responsibility for four different Fortune 500 companies.

It’s important for anyone interested in franchise business ownership to understand the different ownership levels. Here’s a brief overview to get you started before this week’s Franchise Friday Show.

The Entrepreneur’s Source Reviews – 3 Basic Levels of Franchise Business Ownership

1. Owner Operator: An example of an owner operator business might be a window washing business or a handyman business where the business model and the unit economics do not support there to be a manager in the business.
2. Executive Level: A good example of an executive level business is an automobile repair center where typically the business model calls for and the unit economics support there to be a manager in that business either from day one or at some point from the infancy (maybe the first year or so) of the business.
3. Semi-Absentee: This ownership can be good for those that are retired and desire a new opportunity for work, or someone who still has a job they are not completely fulfilled by, but they’re not quite ready to walk away from a steady paycheck. Semi-Absentee ownership does not require a full-time commitment from the owner, allowing owners the opportunity to get their business up and running so that one to three years down the road they have built up a business.

The Coaching Advantage: How to Find your Franchise Match

One of the many benefits of working with an Entrepreneur’s Source Coach to define your ILWE goals and identify franchise business opportunities is you avoid making the wrong business investment decision.

Exploring business opportunities on your own increases the risk of becoming involved in a business that does not fit your goals, needs and expectations and does not set you up for success. It’s very important when to choose the correct industry and business model for you—a coach can help you to make the right decision.

Watch this episode of Franchise Friday (premiers Friday, June 6) to find out more about franchise business ownership options, or visit The Entrepreneur’s Source to take the first step in finding your coach.