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Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!

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.

The Franchisee Bill of Rights

On the subject of “fairness” in franchising, we will try to separate the optimists from the pessimists . Hopefully, we will make an optimist out of even the most cynical readers amongst us.

Franchise Mergers and Acquisitions

There are several reasons for franchises to consider acquiring another franchise. It could give them the opportunity to add new products without the risk or cost of developing these offerings internally. It could help the buyer add new markets, geographically or demographically speaking, with an already strong existing brand. Acquiring a franchise supplier or distributor could build efficiency through vertical integration. Acquisitions can also help a franchise develop sufficient scale to compete with a larger rival more effectively.

Advertising and Promotion Watch: McDonald's Monopoly is Back

This month sees the return of a venerated promotional campaign, McDonald’s Monopoly. The promotion first began in 1987, and in the last decade has become an almost yearly tradition. Each year, certain McDonald’s products come with Monopoly game tokens, each with either a space from the Monopoly board or an instant win prize for items such as a small fries. Larger prizes are won by collecting all of a group of Monopoly properties, usually three, but sometimes two (Illinois Avenue, Indiana Avenue and Kentucky Avenue, for example). Each group of properties have one whose piece is much rarer than the others; for most of the groups, it’s the last alphabetically (Kentucky Avenue for the red properties, Ventnor Avenue for the yellow), but for the dark blue, it’s Boardwalk, as it is the last and most expensive property on the board. More recently, McDonalds developed an online counterpart to its in-store Monopoly game in which customers can roll virtual dice, or more recently pick one of three chance cards for various prizes.