Frequently Asked Questions
Find answers to commonly asked questions about our services.
What do you charge for your services?
We charge an hourly rate of $150 for all services provided and meetings attended. Our goal is to guide the client through the process of becoming an entrepreneur. We explain what’s needed, demonstrate how to do it, and let the client complete the process. The more the client does, the more money they save.
How do you charge for your services?
We bill for five (5) hours up front, after the free initial consultation. If the process goes beyond five hours, we invoice weekly or monthly, depending on the circumstances involved.
What are the steps for buying a business?
While this is not a comprehensive list, these are the main steps to buy a business:
🙂 Identify your goals
🙂 Find a business for sale
🙂 Develop and Issue a Letter of Intent (LOI)
🙂 Conduct Due Diligence
🙂 Evaluate financing options and secure a loan
🙂 Develop and Issue a purchase agreement (PA)
🙂 Negotiate the terms of the sale
🙂 Finalize the sale
🙂 Transition the client to take ownership
What are the steps for buying a franchise?
Many of the steps are similar to buying a business, especially if the franchise is a resale. Where the process can differ greatly is when the client is buying a new franchise business. The issue of availability in your area is the first thing that you’ll notice (referred to as territory in franchising. relates to the extra step of dealing with the franchisor. If the desired territory is available, the steps become:
🙂 Begin conversations with the franchisor
🙂 Sometimes the client will attend a Discovery Day, held at the franchisor’s HQ
🙂 Due diligence includes reviewing the Franchise Disclosure Documents (FDD)
🙂 The client will also review and potentially sign the Franchise Agreement (FA)
🙂 The client will make lots of calls to current and former franchisees
🙂 If a purchase commences the client will attend training (typically 1-3 weeks at HQ)
🙂 Client returns to the local market and begins preparing to run the business
What are the steps to start a business?
We walk the client through the following steps to start a business:
🙂 Client completes our Entrepreneur Readiness Quotient to determine preparedness
🙂 Develop and flush out the idea for the business
🙂 Perform market research for viability and competitive environment
🙂 Develop the business plan
🙂 Choose a business structure (LLC, S-Corp, etc.)
🙂 Secure funding needed
🙂 Set up initial internal systems (Accounting, Banking, Payroll, etc.)
🙂 Hire and build the team (internal and external)
🙂 Begin marketing the business
🙂 Launch and grow revenue
How do I get my Side Hustle on?
We use a four-step process to help the client discover the side hustle that’s right for them. We do this by performing the following steps:
🙂 Complete the Entrepreneur Readiness Quotient (Preparedness)
🙂 Have the client complete a behavioral assessment (understand who they are)
🙂 The client develops their lifestyle questionnaire (Know what they want)
🙂 Data is entered into our proprietary Side Hustle Generator (SHG)
🙂 Output is reviewed with client and options are explored