Bob Riesenbach happily left behind corporate America to forge his own path building a business of his own, even if that has meant working as many hours as he did in corporate America.
Is there a catch? Not when you love what you do and know it’s all for you!
Mirroring the desires of many MBA-ers of his generation, Riesenbach always dreamed of starting his own business, and so, after 23 years of working for big corporations, he left his marketing position at a large retail chain of convenience stores and ventured out on his own without a safety net.
“I was tired of bureaucracy and politics,” he said, so he started researching his options. While he started looking at businesses for sale, he didn’t find much in his area beyond pizza joints and bars.
Before long, he decided a franchise made the most sense because “I didn’t want to start from scratch, and I thought I could learn from other people’s experiences,” he said.
After meeting a franchise coach at a Philadelphia area networking meeting, Riesenbach started looking closely at several franchise possibilities, eventually choosing to buy a franchise that took the most advantage of the skills he had spent his career acquiring.
Almost four years down the road, Riesenbach is happily building his new business, CMIT Solutions of Cherry Hill, a provider of information technology services for small and mid-sized businesses, with the support of a strong network of fellow franchisees.
“The strength of the organization comes from our partnership with other owners,” Riesenbach explained. The franchisor sets up formal networking groups, and he talks to fellow owners at least once a week.
Advantages of a franchise include fully vetted resources, such as vendors, marketing services, and annual conventions. Franchisees have the ability to leverage the size of their network to attain for clients discounted prices on services from vendors, such as Dell, that would likely not be available to a small independent business.
Riesenbach’s company continues to grow. He has been honored by his franchisor as Rookie of the Year, and has also received honors from other local business organizations, including the Philadelphia Business Journal.
Riesenbach’s top tips for prospective franchisees:
- Look for a good match with your skill level and interests.
- Talk to a lot of existing franchise owners, whose contact information can be found in the Franchise Disclosure Document. Don’t only talk to those the franchisor may recommend.
- When people say “Why not just do it on your own, so you don’t have to pay royalties,” ignore those people… I feel I’m getting a lot more value than I’m paying for.
- Have realistic expectations – Know it takes a while to get a new business going.
- Be prepared to work hard.
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Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a franchise coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-4589.
© Dan Citrenbaum 2014
This guest post is by Dan Citrenbaum, a Franchise Coach and Entrepreneurial Consultant who helps people achieve their dreams as small business owners. He offers free evaluations to help you create the career you’ve always wanted. Find Dan at www.EnterpreneurOption.com. You can reach Dan at dcitrenbaum@gmail.com or at .