Maybe you’ve waited in line at a crowded coffee shop and thought, “This place must be raking in the cash!” Then, if you have an entrepreneurial mind, you might have followed that thought up with, “Maybe I can do this!”
Although the last two years have been hard on businesses across all industries and markets, franchise opportunities still abound. That’s particularly true in the IT and cybersecurity industries, which have helped businesses across the United States and Canada safely pivot to a more virtual world.
What Is Franchising?
Most people think of franchising in a simple way: an individual or local business using an established national or international brand’s name and logo. Behind the scenes, lots of other elements are at work. A legally binding agreement binds two parties: the “franchisee,” or individual business owner, and “franchisor,” or main company. The franchisee pays royalty fees to the franchisor for access to its trademark, products, services, and business model for operating the franchise.
Why Is a Franchise a Good Decision?
Franchising offers a business owner the chance to leverage a proven business model already in use by hundreds of existing franchisees. For someone looking to start a business, having access to established operations can ease the often-difficult start-up period, making the first few months after buying a franchise and launching a new business more efficient.
In addition, millions of workers have reevaluated their professional lives during the COVID-19 pandemic, deciding that they want to define success on their terms. Now is the perfect time to consider starting a franchise business.
How Does a Franchise Help Those That Want to Be Their Own Boss?
Being your own boss through owning a franchise can allow you to become an expert within your own community. Many potential franchisees come from corporate backgrounds that require extensive travel and often leave them feeling disconnected from their local communities. Franchise ownership gives you the opportunity to become a pillar in your community, working one-on-one with other local business owners.
CMIT Solutions, an international IT franchise in North America, is a great example of this. By providing managed IT services to local small to medium-sized businesses, CMIT can solve technology problems, strengthen cyber security protection, and improve productivity for today’s growing hybrid and remote workforce within those communities.
Start-Up Costs vs. Competitors
The start-up costs of a franchise can vary across industries. Start-up costs typically include franchise fees, initial purchase costs, real estate investments, opening inventory, and the capital needed to break even. This is why financing is important—many potential franchise owners can afford more than they think.
The best thing about the franchise opportunity at CMIT Solutions is that our start-up costs are far lower than other franchise competitors, particularly those in the food service industry. IT companies don’t require expensive inventory investments, and real estate costs can start at $0 with a home-based office.
We recommend that those interested in opening a CMIT franchise have sufficient capital to invest and a minimum net worth of $350,000. Compare that to fast food franchises: start-up costs are more than $1 million, and McDonald’s requires at least $500,000 in liquid assets, while Wendy’s requires $2 million.
When Should You Consider Starting a Franchise?
Entering a business relationship as a franchisee is a big decision. You have to decide whether a company’s business model, culture, strategy, and income potential are a good fit for you. To streamline and systematize the process, CMIT Solutions has developed a step-by-step method for understanding your entrepreneurial journey and providing you with the due diligence information you need. This includes requests for consideration, CMIT’s franchise disclosure document (FDD), webinars, interviews, and more.
CMIT Solutions maintains good relationships with many franchising consultants, and we’re happy to work with you and your representative. Franchising is a mutual decision that we look forward to making together.
The CMIT Solutions Support System
As the leading managed services provider in North America, with more than 250 locations across the United States and Canada, we give our franchisees the ability to quickly grow and scale. New franchisees get far more than a business in a box: when you open your doors, you have the backing of an established managed service provider with connections and references across North America.
Central to the CMIT Solutions franchise business model is the ability for franchise owners to immediately start building a revenue stream. We deliver proven offerings, preferred pricing, and service-level agreements with industry leaders like Dell, Microsoft, Barracuda and ConnectWise. We also support franchise owners with launch support and mastermind groups that provide peer-to-peer feedback, including brainstorming sessions, mentorships, annual business limelight reviews, and regular, honest collaboration. This provides a competitive edge in the short term and a plan for success in the long term.
What Our Franchise Owners Say
Our CMIT Franchise website contains a wealth of information about CMIT Solutions including how to operate the franchise, and current franchise opportunities. But there’s no better way to understand who we are than from successful franchisees who have achieved their dreams with the CMIT system.
“CMIT’s collaborative culture is outstanding. I can offer a level of support and expertise to my customers that other IT businesses cannot. The product discounts and partnerships available to me as a franchisee enable me to be more profitable than I could as a single entity.” – Amy Justis, CMIT Solutions of Charleston
“I come from a family of business owners and immigrants who wanted to follow the American Dream. Being in control of our own destiny and working for ourselves is important for my husband and I. The CMIT Solutions network has helped us get acclimated so we can help small businesses that don’t want to worry about technology.” – Carmen Parra, CMIT Solutions of Dallas
“We took a leap of faith to purchase a business that could transform our lives. We were with a broker and discovered CMIT Solutions. There was no other choice. We can give our friends, family, and businesses in Columbus a trusted partner. What we promise, we can deliver.” – Leslie Wood, CMIT Solutions of Columbus
“After 15 years of nonstop travel, I wanted to live and work in the same town. When I looked at Entrepreneur Magazine, CMIT was the fastest-growing full-service IT provider on the list. The company has a good strategy and a comprehensive product offering. You have the network of 200+ franchises willing to help you, but you still have a sense of independence that comes from owning your own business.” – Ian Miller, CMIT Solutions of Portland Central
Looking for the chance to take control of your own destiny? Ready to put your hard work toward your own enduring equity and assets? Want to become a fixture in your local community while establishing yourself in a dynamic $5 trillion IT industry? Click here to begin your franchising journey.