Archive for the ‘Franchisee Profile’ Category

GSI Women In Franchising – Snohomish, WA

Wednesday, May 13th, 2020

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In our second edition of GSI’s Women in Franchising, we’re highlighting Erin Goulet and Lissa Knox, on-site owners of The Goddard School located in Snohomish, WA. We asked this mother-daughter team to tell us about their experience as female entrepreneurs and advice they would give other women who have similar ambitions.

GSI: How has Goddard supported your dreams of being an entrepreneur?

Goulet & Knox: The Goddard opportunity represents an alignment of so many values that are important to us as entrepreneurs. It has created an opportunity to serve families in our community in a meaningful way, to create a supportive workplace for our team and to receive support and guidance from a franchisor that reflects our values. Within our market of Goddard Schools here in the Pacific Northwest we have had the opportunity to collaborate closely with our peers which has been incredibly fulfilling and strengthens what we are all able to offer to our communities.

GSI: How have you grown as a leader and business owner since opening your own Goddard School?

Goulet & Knox: We have experienced how transformative it is to give to others. This is true for our individual business, that doing our best to serve our employees and our families to the best of our abilities are the path to a successful program. We have also experienced this to be true as franchisees within a larger system. The effective partnership among our peers and across our system drives the success of our entire brand. We have also experienced how fulfilling this kind of meaningful partnership can be to our experience as business owners.

GSI: What guidance would you give other women who are driven to become entrepreneurs?

Goulet & Knox: Surround yourself with likeminded women who share your goals and your values in business. Learn from them and do your best to support them and genuinely celebrate their success. This kind of meaningful collaboration makes the work both more manageable and more fulfilling. We are incredibly fortunate to be a part of a network of strong female entrepreneurs through our relationships with our fellow franchisees. We also serve a community of parents that include many women in leadership and entrepreneurial roles. We feel great pride in being a part of these communities of like-minded women.

GSI Women In Franchising

Thursday, May 7th, 2020

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In honor of being named one of the Top Franchises for Women by Franchise Business Review, we asked Marissa Pratt and Kristina Ford, on-site owners of the Goddard School located in Farmington, CT, about their experience as female entrepreneurs and advice they would give other women who have similar ambitions.

GSI: How has Goddard supported your dreams of being an entrepreneur?

Pratt and Ford: The incentive of becoming an entrepreneur was cultivated in growing up in a family of small business owners. After graduating from college and working full time, we both knew that owning and growing a business would be far more rewarding than working for someone else! Goddard was the perfect business as it revolved around doing something good for the families and children in the community. GSI is committed to supporting each and every one of it’s 500 schools from coast to coast! When looking into the franchise, Goddard stood out as having a network of individuals who would teach and support us, not only in opening our school, but throughout the life of our School. The ongoing research that Goddard conducts and their outstanding commitment to education, health and safety helps us to remain in the forefront of Early Childhood Education. Having all of this knowledge and education, assists us in operating the best possible school for our students, families, teachers and community.

GSI: How have you grown as a leader and business owner since opening your own Goddard School?

Pratt and Ford:  Hands down, face to face communication is key to a successful business. This begins with our administration team, families, students and teachers. A clear, open line of communication strengthens your School, the relationships within the School and the partnership between coworkers. We’ve learned the importance of helping our teachers and directors grow in their talents and skills. We have sharpened our listening skills so that we might better observe children, parents, teachers and directors in an effort to improve and challenge ourselves as a leadership team.

GSI: What guidance would you give other women who are driven to become entrepreneurs?

Pratt and Ford:  Believe in yourself! Have a mission and stick to it! Be prepared to take risks, to make hard decisions, to fail and succeed, it’s all worth it! Create a network with other owners who you can share successes, struggles and milestones with. The comradery that GSI promotes has been instrumental in our success and growth. We are thankful that we have so many Goddard Schools across the USA who we can reach out to, to bounce ideas off of!

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Bhavesh Patel has been working toward his goal of opening his Goddard School located in Granger, IN for three years, in memory of his late wife.

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Janice Kennedy, owner of The Goddard School located in Olathe (Northwest), KS, reflects upon how her six years in the US Army Reserve prepared her for owning a Goddard franchise in this fascinating article for Authority Magazine.

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Franchisees like Priya Punugoti, owner of the newest Goddard School located in Lewisville, TX, exemplify the type of ambitious, altruistic entrepreneur that the brand attracts.

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New Goddard School in Carol Stream Now Open

Friday, February 1st, 2019

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After teaching in private and public schools for more than 10 years, Martin and Majlinda Gjini, franchisees of The Goddard School of Carol Stream, decided to open a school of their own.

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After spending 10 years as a member of the Round Rock community, educating young children, Ryan Rastelli, owner of The Goddard School in Round Rock, felt it was time to extend The Goddard School’s philosophy’s reach to Austin (Avery Ranch), TX.

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Ten Steps to Starting a Franchise

Thursday, August 24th, 2017
  1. Read through the franchisor’s franchise disclosure document (FDD). The franchisor is required by law to supply this document to prospective franchisees. The FDD provides information about the franchise system, such has its history and corporate structure, as well as the information about the franchise relationship, such as fees, financing, obligations, intellectual property and financial performance. Be sure to study the FDD before making any decisions. Pay particular attention to the FDD’s Item 19, which details the franchise’s earnings data. A franchise that values transparency will include the grosses, expenses and EBITDAs of all its franchises for the previous year. In other words, it should provide information so you can make the most informed decision.
  2. Do your due diligence. Talk to other franchisees who have been in business a while. Ask them what they think of the business. What are the challenges? What are the rewards? What made them decide to open a franchise? Is the franchisor easy to work with? While this is obviously a great way to get information, it may also help to form working relationships with other franchisees if you decide to open a franchise.
  3. Experience a franchise in action. Visit a franchise during business hours, see how it works, see what the franchisee and the employees have to do on a day-to-day basis. This should give you a better idea of what being a franchisee is like. Also be sure to talk to customers. Are they happy with the service the franchise provides? Would they recommend it to others? Getting a feel for the customer base is just as important as seeing what a franchise does every day.
  4. Find a franchise that offers excellent support. The great thing about buying a franchise is that you go into business for yourself, not by yourself. But this concept only works when the franchisor offers the best support in all aspects of business operations, including, but not limited to, marketing, advertising, IT, finance, training and real estate. Visiting the corporate headquarters is highly recommended.
  5. Visit the corporate headquarters. Some franchisors host a “meet our team” day that allows prospective franchisees to tour the corporate office as well as meet the people who will be supporting their business needs. This is an excellent way to get a first-hand look at how the franchisor operates.
  6. Review the terms of your franchise agreement. If you decide to pursue a franchise, the franchisor will give you its franchise agreement, which lists your obligations and theirs. It is a good idea to hire a lawyer with franchise experience to review the agreement to make sure it meets your expectations.
  7. Obtain financing. When you sign the franchise agreement, you will need to pay the franchisor. These initial costs, which vary from business to business, can amount to hundreds of thousands of dollars. Many entrepreneurs need to secure a loan, such as a Small Business Administration loan or a bank loan, to pay those fees. A franchisor that offers excellent support will often have a franchise finance team that can help you navigate the loan process.
  8. Locate a suitable site for your business. Many franchises have specific site requirements that your business will need to meet. These may include things such as square footage, a minimum lot size and a minimum number of parking spaces. A high-quality franchise will staff real estate experts who will help you with the process of finding a suitable site.
  9. Receive training. You will need to complete a series of training courses, either at the franchise’s corporate headquarters and/or online, that will teach you what you need to know to operate a franchise.
  10. Prepare to open your business. If you have never opened a business before, which includes many different things that need to be done, this process can seem daunting. A franchise with best-in-class support will provide assistance with this process, usually in the form of an openings team who will work with you to ensure your business is ready to open.

Owners of the Goddard School located in Skokie, IL, Mary and Andrew Fratini, discuss their decision that led them to opening a Goddard School with Evanston Magazine.

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The Goddard School, with 460 locations and counting, has been listed as one of twenty emerging brands exhibiting at the 2017 International Franchising Expo.

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