RMC Franchise Connect helps match potential entrepreneurs, new business opportunities
By Jeff McKinney • firstname.lastname@example.org • July 3, 2010
DOWNTOWN - Darian Richardson is convinced that franchising will continue to be a hot career choice for entrepreneurs.
That confidence this year prompted Richardson to launch RMC Franchise Connect, a downtown-based firm that provides free consulting services to help individuals identify franchise opportunities.
RMC is paid a finder's fee by the franchisor once a successful match is made between an individual and the company.
Richardson, 33, was co-owner from 2004 to 2009 of Pep (formerly Promotion Execution Partners), a Cincinnati-based firm that specializes in promotional management and execution services for companies, including handling direct mail and website initiatives.
He sold his stake in that company last year to help open RMC.
WHY DID YOU feel there was a market for your firm?
With the state of the economy due to downsizing, unemployment and job dissatisfaction, more people are re-evaluating their career options. They're looking for ways to provide stability, financial security and work/life balance for themselves and their families. Statistics show that one in 10 Americans launched their own business in the second quarter of 2009 as a path to economic recovery. And franchising has been at the forefront of that trend.
WHY WOULD SOMEONE choose a franchise as a way to start a business?
Franchises have brand recognition that provides instant credibility to the business. For instance, most people recognize franchise names immediately: Cinnabon, Great Clips, Precision Tune, Ace Hardware and Molly Maid. Not only are you getting established brand identity, but more importantly, a proven business model that has been successful over time.
WHO IS A potential franchisee?
Any individual looking to start a business, a corporate executive in transition or someone looking for a side business to supplement his or her income. Another growing segment is stay-at-home moms.
WHAT ARE THE hottest franchise categories these days?
The first one is senior care, as the baby boomer generation continues to age. They will make up 25 percent of the nation's population in the next five years, creating greater demand for franchises to service those needs. Another hot area is children services, including child care and in-home tutoring.
WHAT ARE THE biggest challenges to opening a franchise?
The biggest is getting financing to start the business. Other major obstacles include choosing the right franchise that fit your goals and taking the time to do the diligence to make a smart decision.