April 19, 2010 - Monday
How to Franchise Your Invention
You've just come up with a new product and you're looking to tell the world about it. Now what?
Here is an approach you probably haven't considered - franchising your invention.
With unemployment at an all-time high, the demand for franchising has never been stronger. And if you think franchising is too complicated, too old-school, or too expensive, think again. This is franchising with a twist.
Franchises have traditionally been appealing for a number of reasons:
- Proven track record of profitability
- Lower risk for the owners
- Easy to replicate and duplicate
- Based on proven brand operations begin quickly
- Scale to multiple locations for easy public access and flexibility
The International Franchise Association lists more than 75 categories of businesses and thousands of different existing franchises. What's even better is that you can apply this proven system for growth to your invention.
With invention franchising, you will need to develop a successful business model first before you can create the complete plan, or format, to manage and operate the franchise operation. The proven format provides a base structure for step-by-step planning so you can anticipate problems and create solutions. As a franchisor, your franchisee is buying the business format that has been developed and tested, representing a system for proven growth and success.
Analysts report that franchised businesses have grown far faster than the gross domestic product. Retail sales from franchise businesses account for 15% of the U.S. gross domestic product and over 40% of all US retail sales. A new franchise outlet opens somewhere in the U.S. every 8 minutes, and approximately one out of every 12 retail business establishments is a franchised business.
Scott Franklin, founder of Lighthouse Solar has grown his business to revenues over $7 million in less than 4 years with the franchise division accounting for over $2 million of that revenue. Lighthouse charges $30,000 for the initial franchise fee and 3% of royalty based on franchisee's annual revenue. Like all franchisors they provide their business model, support and purchasing power, training, and a proven system for success.
Join us as we take a probing look at how you can successfully use the franchise model for your invention.
EVENT: Startup Junkie Underground
DATE: April 19, 2010 - Monday
LOCATION: MADCAP Theater, 10679 Westminster Blvd, Westminster, CO 80020
DIRECTIONS: Driving Directions
COST: $20, Members: Free, SuperMembers: Free
TOPIC: How to Franchise Your Invention
SPEAKERS: Scott Franklin, Joy Milkowski, Brian Destarac, Cindy Rayfield, Steve Baker, Brian Tsuchiya
SPEAKER: Scott Franklin
Founder, President and CEO of Clean Energy Solutions, Inc
Scott Franklin is the Founder, President and CEO of Clean Energy Solutions, Inc and its two subsidiaries: Lighthouse Solar and LUMOS.
Before launching his solar business, Scott was a world renowned professional rock climber setting new standards in American climbing. He was the top ranked competitive climber from 1990-1994. As an entrepreneur in the outdoor industry,
Scott founded Franklin Climbing Equipment in 1995 and later sold it to Black Diamond in 2000. In 2005 as an industrial designer Scott won the Volvo International Design Award for product design. He holds three patents. In 2006, inspired to “Be part of the solution” he left a successful career in the outdoor industry to devote himself to renewable energy. Lighthouse Solar currently has franchise offices in Boulder, Colorado; Austin, Texas; New Paltz, New York, Laguna Beach, California; and Honolulu, Hawaii.
Scott Franklin is a NABCEP certified Photovoltaic Installer.
MODERATOR: Joy Milkowski
Founder of Access Marketing Company
Joy Milkowski is the Founder of Access Marketing Company where she specializes in bringing search engine marketing and web marketing intelligence to her clients in a way they can understand and measure. She has over a decade of marketing, sales and professional copywriting experience in a variety of areas including tech, industrial, direct to consumer sales, commercial real estate ventures, professional and collegiate athletics and Internet-based marketing. In addition, Joy trains small businesses and entrepreneurs who want to leverage the power of search engines as an advertising tool to reach their audiences.
PANELIST: Brian Destarac
Founder of Cobalt Business Solutions
Brian Destarac’s professional experience and background encompasses many different levels in business management, systems development and ownership. An entrepreneur, he has been involved in franchise operations and developing companies for 19 years. During which time he acquired knowledge of franchise operations and business management to develop the principals used to successfully manage multiple businesses.
As an owner of Pressed4Time, Brian was involved in the evolution of the company and its resulting success as the largest franchise within the country. Brian then expanded his skills to his second company while concurrently working with the original. He created management, training and production systems to ensure the companies' success.
Brian enjoyed considerable success as an owner of a variety of companies. However, he became interested in taking that diverse experience to help others enjoy greater success in their endeavors. With a clear picture in mind, Brian went in search of a company where he could fulfill that dream. Brian, one of the founding members of Cobalt Business Solutions, is now successfully living that dream.
PANELIST: Cindy Rayfield
Franchise Consultant for FranNet
Cindy Rayfield has a history of helping people build and grow their businesses. Since 2001 she has been a business owner, operating a website and copywriting company in Denver that helps small businesses, churches and non-profits with marketing and communication projects.
Cindy acquired an interest in franchising shortly after college when she dove in feet first in an attempt to purchase an expensive retail franchise with no money, no education, and no guidance. Later on, she learned about franchising through various marketing projects and has a passion for helping others learn the right way to invest in a franchise business.
As a franchise consultant for FranNet, Cindy works with clients in Colorado, Wyoming and Montana. She also conducts free franchise educational seminars throughout the region. Seminars are conducted in partnership with career transition agencies, Small Business Development Centers, SCORE offices, regional libraries and community colleges. Cindy is active in local chambers of commerce and with Cancer League of Colorado. She is a graduate of the University of Denver, School of Communication.
PANELIST: Steve Baker
Senior Fellow, Business Advisor and Author
Steve Baker is a small business advocate with a passion for business and a drive for success. As a founder of successful companies, a corporate executive and business advisor, he has over 25 years of experience developing and launching new businesses. He has led companies in every phase of business cycle from startup to exit in both private and public sectors. He guided one of his startup companies through a successful public offering of stock (IPO) and achieved revenues of $500 million.
Steve directs business development and strategic marketing, and has taken companies from startup to millions of dollars in revenues in such diverse industries as international travel, financial software, franchising, manufacturing, ergonomics, medical devices, migraine headache treatment, and an international medical wellness resort.
As a small business advocate, Steve thrives on the challenge of solving problems that impede business growth and success. As a Senior Fellow at the DaVinci Institute, a futurist think-tank, he enjoys helping entrepreneurs succeed. He is the author of the award winning book Pushing Water Uphill With A Rake and is a frequent public speaker to business groups and university students, discussing entrepreneurship and ethics.
HOST: Brian Tsuchiya
Founder of Startup Guru
Brian Tsuchiya is an authority on crowdfunding, after spending the last 8 years researching a variety of methods he has unique experiences with crowds. Including having a company entirely funded with "sweat equity" from over one hundred people. Managing that many shareholders is unique for a privately held startup. Brian also has raised over $2M of private equity.
Brian is the founder of StartUp Guru and started his entrepreneurial journey 18 years ago and has since launched ten startups. Startup Guru is the culmination of this extraordinary journey. He has openly shared for the first 40 years of his life he primarily served himself and lived a life without purpose. Then in June of 2006 he read a book that would change his life forever. He embarked on a journey that connected his life purpose with his entrepreneurial career. Through this work he understood his patterns and defined his life in a way that revealed his purpose. Forged in him was the way of the entrepreneur.
6:30 - 7:00 - Registration and networking
7:00 - 7:15 - Announcements and introductions
7:15 - 8:00 -"How to Franchise Your Invention" - Scott Franklin
8:00 - 8:45 - Panel discussion
8:45 - 9:00 - Networking
9:00 - Thank you for coming