We get that thinking about what is going to happen way in the future is not a huge priority for a lot of people. It is hard enough worrying about how to drive new business and stay on top of the day to day - thinking about 10, 15, or 20 years from now is not a big focus for most of us.
We would like to ask you a question:
When you are building a business are you doing it just for the money you earn today, or are you hoping to have something saleable when you are ready to retire?
We are willing to bet that you said you wanted something saleable, and that makes complete sense. Why would you invest money, time, and so much energy to build a business that was not worth something when you were ready to retire?
So now we have to ask... why are you doing what you are doing today? Here... let us clarify why we ask that.
First it is important to recognize that a franchise is not the same as a stand alone brand. The entire concept of the franchise is to build a scalable business with brand recognition that is based on a proven business system and is saleable. That means that you have a higher degree of proof of business that you can sell when you want to retire. In franchising there are key components that determine how saleable a business is in the future, they are: Territorial Boundaries, past profitability, and a reasonable expectation of success in the future.
Let's consider territories first. In the Canadian Mortgage Marketplace none of the existing brands provide franchise owners with a defined, protected, territory. That means that they can sell a franchise within blocks of you, or they can oversaturate a market to drive the perception of volume. The challenge with this model is that it immediately devalues the franchise you own. Part of the ability to sell a franchise to a new owner is being able to provide them with assurances of their marketplace. They want to know that they are not going to be competing with another office of the same brand for the customer. While the brand nationally may have great market share, that means little if it is split up between franchises that are practically on top of each other.
The next item is past profitability. Your personal mortgage database is just that, your personal database. Unless your volumes are put through the business and you leave enough in the company to show excellent profitability, your valuation can be deeply impacted. A business that is based on small margins and the owner having to do sales themselves in order to earn a living, is worth far less than a business that provides a sustainable revenue the owner can rely on for an income allowing them to work on the business, as opposed to in it.
Success in the future. There is no way to guarantee that a new owner will be as successful with the business as you were, but there are ways to give them greater confidence. Having a business system that provides greater profitability, and a protected territory means that they are far more likely to succeed that they would with other brands. That directly translates into your franchise being much more attractive and able to command a higher price.
What if you also had the luxury of a guaranteed valuation of your business when you are ready to retire?
Imagine what life would be like if you were ready to retire and decided to sell your franchise today. Does your brand give you a guarantee of the value of your business? We are willing to bet that they don't. Why? Well, because we know that Haystax is the only franchise company in the world that does.
At Haystax we believe in our business so much that we not only provide our franchise owners with the growth guarantee, we will actually provide a written guarantee of the value of your business when you are ready to retire.
We worked with some of the best actuaries and retirement specialists Canada has to offer to create a retirement solutions program exclusively for Haystax Franchisees and their Mortgage Agents.
You might not be thinking about retirement just yet, but wouldn't you worry less about the future if you knew that it was protected for you?
Haystax believes in you, and we recognize the effort you put into not just building your business, but Haystax as a whole. That is why we are not just here to look out for you today, but also to provide security for your future.