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Business Advice, Financing Tips, and Small Business Trends from a Young Franchisee

FranchiseHelp interviewed Vishal Sharma, a young entrepreneur and small business owner who bought his first franchise business at 24 years old. In 2009, shortly after graduating from California State University-Long Beach, Sharma acquired the Irvine, CA location of Juice It Up!, a fruit smoothie and juice bar franchise specializing inblended-to-order real fruit smoothies. Due to the business' success, Sharma acquired another Juice It Up! in Tustin, CA in 2011. At 26, Sharma now owns two successful franchise businesses and talked to FranchiseHelp to give advice as a small business owner and young entrepreneur.

Today, Juice It Up has nearly 100 stores across California, Arizona, Texas, and New York. The California-style juice bar's smoothiesare consistently voted "best tasting" among the top smoothie and juice bar chains.

FranchiseHelp: Why did you choose to own a business versus join a company as an employee? And why a franchise versus an independentbusiness?

Vishal Sharma: I chose to own a business because I like to be my own boss. If I work hard, I can make a direct impact on my business.Working for another company, I would not be able to do things the way I would want to do them, as I would have tocheck with upper management. Franchises have a structure that is already set up and has proven to work, so in my eyespaying a small royalty to the franchise is worth it.

FH: What has been your biggest challenge thus far as a small business owner? Any 'everyday' challenges?

VS: My biggest challenge thus far as a small business owner has been to increase the ranking for the stores and to ensurethat customers receive the highest quality service possible. I have not had any 'everyday' challenges.

FH: What has been your biggest victory/rewarding experience as a franchise/small biz owner?

VS: My biggest victory as a small business owner has been to increase the ranking of the store from the 60s to the top 5 inthe company. My biggest rewarding experience as a small business owner has been giving back to the community, suchas fundraising for local schools and organizations.

FH: How did you get financing, any tips? It must have been more difficult as a young entrepreneur.

VS: I was fortunate to have my parents' financial help for the first location. For the second location, my wife and I saved andpurchased the location.

FH: What are your plans for the two businesses you own, and your own career path?

VS: My plans for the two businesses I own are to increase gross sales, catering, and community involvement. My plans formy own career path is to continue improving business for my current locations, as well as obtain more locations.

FH: Any trends or changes you see in small business ownership?

VS: A change I see in small business ownership is businesses with more health- driven products since consumers are morehealth conscious and are purchasing healthier products, such as fresh squeezed fruit and vegetable juices. For thatreason, I am introducing a raw juice bar in my two stores.

FH: Any advice for future young entrepreneurs? What are some of the most important things you've learned from yourexperience?

VS: My advice for future young entrepreneurs is to be involved with your business and act as an owner/operator, not as an absentee owner. Some of the most important things I have learned from my experience is proper time managementand management of employees, as well as excellent customer service.

FH: Any advice for franchise owners in particular?

VS: My advice for franchise owners in particular is to follow the established franchise structure since it has proven to beeffective.

Thanks, Vishal! Visit FranchiseHelp.com for more tips for young entrepreneursand the best franchise opportunities for recent college grads. To find your own franchise opportunities, search our franchise directory.

Overcoming Franchise Funding Fears

You want to dip your toe into the waters of business ownership and have decided to jump into a franchise. Maybe you’ve zeroed in on which franchise is right for you or perhaps you’re still exploring the options. Whatever you decide, you’ll need a way to finance the venture, and that can be intimidating. Getting a business loan can be tricky… even as the economy begins to heal. If you’ve got money, banks and credit unions will line up to loan you even more. If you don’t have money? Well, take heart—here are some alternative funding options that can put you at the helm of your own franchise:

18 Perfect Businesses for The Modern Day Man

The Krystal Klear Water franchise specializes in providing clean, mineral-rich drinking water to their customers through specialized water filtration systems. Franchisees provide water contamination testing, preventive maintenance, and in-home, naturally purified water. The health and fitness nut will love this franchise because Krystal Klear's water systems have less pollutants than the competition. The systems are also low maintenance and do not add salt to the water like other water softening systems. This residential water filtration supplier targets an annual market size of approximately $2.6 billion, with sales growth projected to grow at rates of 6-8% per year. Sounds like the same amount some gym rats spend at GNC each month.

New Government Data Will Measure the Economic Impact of Franchising

According to the International Franchise Association (IFA), newly released data in the 2007 Economic Census Franchise Report will help quantify the economic impact of franchising. “Determining the economic impact of franchising is a key strategic priority for the IFA in our efforts to showcase the importance of franchising to the U.S. economy,” said Ken Walker, IFA chairman as well as chairman and CEO of Driven Brands.