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You've climbed the corporate ladder and put in the time and toil to achieve success. But perhaps you've wondered if there's something else for you, and you've ultimately resolved to purchase your own franchise. Your experience in the corporate world should be more than sufficient to prepare you for this new career, right? After all, what's managing 10 hourly employees when you've spearheaded multimillion-dollar marketing campaigns or overseen the operations of a global empire? Well, making the transition from executive to franchisee may entail a lot more than you think.

But don't fret. All your knowledge and experience can give you advantages as a franchisee. Take it from these ex-executives-turned-franchisees, who reveal what their previous lives prepared them for and what they had to learn along the way in their great franchise adventures.

New Territory

William Kosti got his first taste of El Taco Tote Real Mexican Grill while on a business trip to El Paso, Texas, working as director of business development for a consulting company. He thought the food was excellent and, in the back of his mind, he kept the idea of bringing the franchise to his home in North Texas, where TexMex was the closest he could get to Mexican food. When Kosti, 44, was laid off in 2003, he made his idea a reality and opened an El Taco Tote franchise in the Dallas/Fort Worth area.

His corporate background proved beneficial: Kosti had the savvy required to develop a business plan, forecast sales, create a startup budget, and secure funds for operations before and during the launch period. And when he was working on getting financing from banks and SBA lenders, his corporate background seemed to put bankers at ease.

One of Kosti's most important advantages was his understanding of how vital information is to a successful operation. By opting for very extensive point-of-service and back-office systems, Kosti can keep track of sales and consumer behavior in relation to sales. He says analyzing this information on a daily basis allows him to "anticipate any future problems and take corrective measures, whether internal or external."

# posted by Medical Information : 4:52 AM