She puts clients through an extensive self-evaluation: How much money do you want to spend? How much return do you want? What about hours? How much involvement do you want as an owner and operator? Do you want a home-based operation or a retail storefront? Do you like interacting with customers or do you prefer behind-the-scenes work?
In her experience, one in every two people considering a franchise move forward with buying one, Schroeter said.
"People have a tendency to make emotional decisions," she said. "I help people take the emotions out of it ... collect the facts and be realistic about earnings, hours and efforts to make the business a success."
Julie Sullivan, 50, of Clarksville, wanted a business for herself to generate enough savings for retirement. Franchising was an option because, "I was afraid to start my own business from scratch because I know the statistics are bad with new startups," she said.
In fact, about half of small businesses fail within the first five years, according to the U.S. Small Business Administration.
Sullivan, a retired teacher, enlisted the help of Schroeter. Sullivan looked into several options, including a fast-food restaurant and a photography studio. She talked to numerous franchise operators, asking about their operations and financials.
She passed on those choices because they required retail space, thereby increasing costs. Sullivan picked CertaPro Painters, a residential and commercial painting franchiser. Her franchise, which opened in September, serves western Baltimore County.
CertaPro has more than 300 franchisees and requires initial investments of $90,000 to $140,000, which includes marketing and other startup-related costs.
Sullivan said the business gives her flexibility and variety. She can work at home or travel to different sites for job estimates. Besides working with customers, Sullivan hires the painters.
"The reason I'm attracted to franchising is that I'm never going to do just one thing in my life," said Sullivan, who spent 10 years as a technical writer.
"The fact that this franchise is something I could grow really fast and make profitable, and if I choose in the long term, I could sell it. It's an investment for me as well as a new career."
hanah.cho@baltsun.com
Franchise resources
International Franchise Association: www.franchise.org
The trade group that represents franchise companies and franchisees offers a free online course, "Franchise Basics." You could also find out basic information about various franchise systems.
IFA will hold International Franchise Expo April 11-13 in Washington: http:--www.ifeinfo.com
Federal Trade Commission offers a guide to buying a franchise: http:--www.ftc.gov/bcp/edu/pubs/consumer/invest/inv05.shtm
SCORE, advises small business owners: www.scorebaltimore.org
Local female franchise owners will present a free seminar for interested women entrepreneurs April 8 in Columbia. Call 410-878-2199.
