Franchise FAQS
What is Virtual Assistance
Virtual staffing is hiring employees who work remotely, using their own equipment and technology, instead of coming into a physical office. They connect with their employer and colleagues virtually through virtual platforms and communication tools.
Reduced Cost
A virtual team saves costs and maintains productivity.
Less Overall Workload
Virtual teams free up time for core business tasks by sharing the workload and simplifying scheduling.
Better Availability
Virtual teams across time zones enhance client coverage outside business hours and expand market reach.
Easy Collaboration
Virtual staffing complements in-house teams to boost speed and efficiency. Collaboration through strategic partnerships facilitates healthy business growth.
Access to Talent
Virtual staffing offers access to skilled resources at lower costs, regardless of geographic location. With experienced and vetted personnel, business productivity is raised.
GENERAL FAQS
How long has Cyberbacker been in business?
Cyberbacker was officially launched on January 1, 2018, and has experienced exponential client growth over the past five years.
How long have you been selling franchises?
We began offering the franchise opportunity in March 2021, primarily targeting professionals and business owners in the real estate industry. We are now expanding this opportunity to other industries. Joining us at this time ensures additional support for your success.
Why did you choose to franchise?
Cyberbacker operates under a profit-sharing model, driven by our owner and CEO, Craig Goodliffe. Our objective is to distribute $5 million in profits among all Cyberbacker virtual assistants and generate 15,000 job opportunities by 2025. To accomplish this ambitious goal, we have embraced the franchise opportunity, leveraging the collective network, connections, and influence of our existing and prospective franchisees.
How many franchise businesses do you currently have?
Currently, we have 26 franchisees who have exclusive rights to an industry market within a defined geographic area.
Where is your head office located, and what does the organization consist of?
Our Head Office is situated in Ogden, Utah, serving as the central hub for our CEO and the US Operations team. In addition, we have a dedicated leadership team based in the Philippines, which includes the President of Cyberbacker, Vice Presidents, and Directors overseeing critical departments within the organization.
What is virtual assistance?
Virtual assistance services involve hiring remote assistants to provide administrative, operational, or creative support. These virtual assistants handle a wide range of tasks, such as managing emails, scheduling, conducting research, providing sales support, lead generation, appointment setting, customer service, graphic design, and social media management. They work remotely, utilizing technology to collaborate effectively with clients. By outsourcing these tasks, businesses can save time and costs, allowing them to focus on their core activities. Virtual assistance offers flexibility and scalability, making it a valuable resource for businesses of all sizes. Effective communication and collaboration are vital for establishing a successful working relationship between clients and virtual assistants.
What are the benefits of virtual assistance services?
Virtual assistance services offer numerous benefits for businesses. They allow individuals or companies to concentrate on their core strengths, alleviate workload and stress, enhance productivity and profitability, deliver improved client service, and attain a healthier work-life balance.
What virtual assistance services can Cyberbacker provide?
At Cyberbacker, we recognize the specific requirements, obstacles, and objectives of businesses. That’s why we’ve created a wide range of customized virtual assistance solutions to optimize efficiency and boost productivity. Our services encompass various areas, including customer service, sales support, data entry, document processing, marketing, research, and more. It’s worth noting that our capabilities extend to nearly any task that doesn’t necessitate licensing, certification, or physical presence.
What is your proposition for the franchise opportunity?
If you’re looking to own a franchise business and have a strong drive to assist other businesses in achieving growth through increased productivity and efficiency, investing in a Cyberbacker franchise can be a transformative endeavor. We offer you the opportunity to join a thriving industry, where you can manage and develop your own virtual assistance service franchise business, leveraging your industry connections and influence, while providing a crucial service to other businesses. As a franchisee, you’ll have exclusive rights to target an industry-specific market within a defined geographical area, establishing yourself as the sole provider of Cyberbacker virtual assistance services in your designated market.
How does market exclusivity function within the franchise opportunity?
Market exclusivity guarantees that your franchise holds exclusive rights to offer Cyberbacker virtual assistance services in a specific industry sector within a defined geographical area. With market exclusivity, you eliminate direct competition and position yourself as the preferred solution provider in your area. This exclusivity allows you to focus on meeting the unique needs of the designated industry, cultivate strong client relationships, and establish your reputation as the industry leader in your market.
What services do I offer?
As a Cyberbacker franchise business owner, you will serve as a provider of virtual assistance services. Your role will involve assisting other business owners in outsourcing tasks within their businesses that can be delegated, allowing them to allocate more time to income-generating activities, enhance productivity, and boost revenue.
What are the benefits of joining you as a franchisee?
Purchasing a Cyberbacker franchise business and becoming a virtual assistance service provider offers several key benefits, including:
- Low start-up and ongoing costs
- Exclusive market and territory rights
- Flexible and scalable business model
- Bootcamp training and launch support
- Consistent residual income potential
- Focus on growth activities with a dedicated support team
- Consistent communication and ongoing support
- Community and collaborative opportunities
- Help other businesses by enhancing productivity and efficiency
These advantages contribute to a favorable business environment and potential for success as a Cyberbacker franchise owner.
On what basis do you select your franchisees? How selective is the process?
The selection process for our franchisees is highly selective as we aim to tap into the influence and connections they bring to our brand. We carefully choose individuals based on their relevant work experience, established connections, and influence within their industry and geographic area. We seek industry leaders who are eager to leverage their expertise and address pain points in their sector through virtual assistance solutions. Our ideal franchisees not only recognize the value of virtual assistance services in enhancing productivity and efficiency but are also enthusiastic, motivated, and dedicated to making their businesses successful.
Other key qualities we look for in our franchisees include:
- A willingness to commit time and effort required to build and grow their business.
- Creative thinking and outside-the-box approaches to marketing, networking and delivering virtual assistance services to potential clients.
- Strong interpersonal and communication skills to effectively engage with prospects and clients, and build lasting relationships.
- The ability to handle various potential leads and expand their client base.
- A commitment to continuous learning, delivering exceptional service, and staying open to new ideas and opportunities.
By focusing on these attributes, we aim to attract franchisees who can make a significant impact and bring value to their exclusive industry and territory.
What are the expectations from a franchisee?
The franchisee will be supported by a dedicated team to handle day-to-day business operations. The franchisee will have the autonomy to manage and oversee their team, and will have the freedom and flexibility to implement their own business strategies. It will be the franchisee’s responsibility to maintain regular meetings with their team, foster strong working relationships, effectively communicate strategies, and motivate team members to achieve common goals and drive business success.
Additionally, leveraging their connections and influence within their exclusive market, the franchisee is expected to explore new opportunities, promote the business through marketing and networking efforts, and generate potential leads to grow their client database. As ambassadors of the brand, franchisees are expected to project a professional image, commit the necessary time to the business, and adhere to the franchise model.
What are the steps to becoming a franchisee?
Our goal is to guide you through the process of owning a Cyberbacker virtual assistance franchise. Here are the steps to a Cyberbacker franchise ownership:
- Introductory Call Discover the Cyberbacker brand and franchise offering in a high-level overview. Check the availability of your preferred exclusive market, tailored to your industry and location. Simultaneously, we’ll discuss your personal goals for franchise ownership, ensuring alignment with the Cyberbacker vision and core values.
- Due Diligence and Evaluation Complete the franchise application form, and take a value assessment test and CBPA for evaluation by Cyberbacker leadership. Acknowledge receipt and review the Franchise Disclosure Document. Connect with other franchisees to make sure the opportunity aligns with your goals.
- Franchise Overview Presentation Upon evaluation and approval, we’ll arrange an in-depth sales presentation call. In this meeting, we’ll delve into the franchise opportunity, covering aspects such as the franchise system, financials, benefits, and expectations. We’ll address any questions or concerns you may have and provide guidelines on creating the business plan, developing the database, and determining the size of your exclusive market.
- Business Plan Submission Submit a comprehensive business plan outlining sphere of influence, local industry connections, and key factors that will drive business growth in your exclusive market. Include your proposed market size, outlining the thresholds used to derive the figure. Additionally, provide a database listing the names, contact details and relevant information of your target audience.
- Connect with VP of Franchise Development Jason Stowe Schedule a meeting with Jason Stowe, VP of Franchise Development, to discuss your business plan, database and market size. Gain valuable insights, strategic directions, and refinements for your franchise approach. Utilize this opportunity to ask questions and seek guidance from Jason, a seasoned leader in the franchising industry with over three decades of experience. Following the conversation, candidates are considered for approval.
- Awarding of Franchise Upon mutual agreement, you’ll be awarded the franchise. Review and sign the franchise agreement documents. After executing the agreement, and submitting the franchise and boot camp fees, you officially become a Cyberbacker franchise owner.
- On-Boarding and Boot Camp Embark on a 3-week onboarding process. Attend an onboarding training, build your support team, and set up your database. Afterwards, transition to the 90-day boot camp phase where the Launch Team will collaborate with franchise owners and their Growthbacker. Together you will prepare a 30-60-90 day plan to introduce and promote the franchise to your exclusive market. Follow and implement the activities outlined in the Boot Camp Plan with the assistance of the Launch Team.
- Operations Kickoff Congratulations on this significant milestone! Our commitment to your success continues. Expect ongoing support, training, and collaborative opportunities.
Can I bring in business partners to the franchise opportunity?
Certainly! Business partners who will have at least a minimum share of 10% of the income from the franchise business are required to sign the franchise agreement documents.
What is the required investment?
The initial investment to open your Cyberbacker franchise business ranges between $52,000 and $84,950. The estimated liquid capital for the first three months of operation ranges between $2,000 to $7,000.
What is included in the cost?
The initial investment in Cyberbacker includes a franchise fee of $30,000, paid upfront upon signing the contract. There is also a one-time payment for launch team support of $10,000. The support team cost ranges from $1,950 to $2,600 per month. We may require you to have a business coach for at least a year of operations. The estimated monthly cost of hiring one is between $1,000 to $1,500.
How much working capital is needed?
New franchises typically require time to build their client base and establish themselves. We strongly recommend having additional capital as a contingency to cover expenses during the onboarding and launch periods, as well as for the first twelve months of operation. Based on our experience, it is estimated at $2,000 to $7,000 per quarter.
Do you charge any other fees?
There are no hidden costs associated with our franchise opportunity. The initial investment you make will encompass all the necessary requirements for a successful launch and operation of your franchise business. Furthermore, there are no additional franchise fees in the subsequent years of the contract, and we do not charge annual royalties.
What is the income expectation?
Franchise income is based on the number of active clients and their monthly service fee. There is no limit on the number of clients or potential income. There are two types of income: commission and profit share. For franchisees, the commission is 8.33% of the monthly service fee, while the profit share is 52% of the net profit from the monthly service fee. Both types of income are paid monthly, as long as the clients continue to use Cyberbacker’s services.
Do you have available figures that show the earning potential a new franchisee can make in the first year and their ROI?
While we do not provide specific earnings claims, it’s essential to highlight the revenue generation potential within our franchise opportunity. For each one-year subscription of a full-time Cyberbacker contract, at an average monthly cost of $1,500, a franchisee has the potential to earn between $2,700 to $2,900. This amount can then be multiplied by the annual number of contracts committed to, providing a clear indication of the potential total projected annual income. However, it’s important to consider various factors, including contract cancellations and the percentage share of full-time contracts versus part-time contracts. Additionally, monthly expenses such as support team costs, marketing activities, office technology suites, and overheads should be taken into account.
How will the incomes of the franchisees be paid?
We will send a private link where the franchisees can provide their bank account information. Our accounting team, called Moneybackers, will use this information to deposit their monthly commissions. The cutoff for payment collection from clients is at the end of each month. Franchisees will be paid every 15th of the following month.
What happens next after purchasing a franchise?
The first year timeline involves a 3-week onboarding period, which includes an orientation training with VPs and directors, selecting support team members, and setting up the database. Following this period, and leading to the live launch, is a comprehensive training program which covers the entirety of the operational playbook. During this period, the franchise development team will support you in getting the knowledge and tools to operate a virtual staffing business. Performance reviews will take place every 6 months after going live.
What continuing services and support can you provide after the franchise business starts operation?
Cyberbacker ensures franchisees receive continuous guidance and resources. Immediate assistance from a Franchise Coordinator and strategic oversight from the VP of Franchise Development, with regular reviews, foster a supportive and communicative environment. Division leaders oversee the franchise support team members and monitor their performance. The accounting team manages client payment collection and invoicing. Franchisees have access to multiple gameroom sessions and open online training classes that clients can attend. We also offer continuous education and comprehensive guides. However, it is ultimately the franchisee’s responsibility to take ownership and drive the growth of their business.
What help will I receive in local marketing activities?
You will have access to the franchise marketing library, where you can find valuable resources. We can offer guidance and share insights on successful strategies employed by other franchisees. However, as the owner of your franchise business and exclusive market, you will have the opportunity to create and execute your own marketing activities. Any marketing expenses incurred will be your responsibility. Additionally, we may request you to submit a marketing plan for your first year at least 30 days prior to commencing operations for our review and approval.
How do you ensure that the franchisees stay connected with you and the other franchisees?
There are a number of meetings organized for franchisees, led by the Cyberbacker CEO and VP of Franchise Development. Firstly, there is a weekly meeting called Cyberbacker Update where top performances are shared and new initiatives are discussed. Once a month, a mastermind session is held, allowing franchisees to discuss their goals, progress, and challenges. This collaborative environment fosters idea generation, feedback exchange, and the sharing of best practices among fellow franchisees.
The franchise team conducts regular check-ins with franchisees to review progress, evaluate goals, analyze key performance indicators (KPIs), address challenges, and provide solutions. These sessions involve developing action plans, engaging in constructive feedback exchange, establishing accountability measures, and concluding with discussions on next steps and necessary follow-up actions. Furthermore, monthly newsletters are sent to all franchisees to keep them informed and engaged.
Who will handle the invoicing and payment processing for the clients of the franchise?
The Cyberbacker accounting and bookkeeping team, known as Moneybackers, will take care of invoicing your clients and collecting payments on your behalf. Our goal is to alleviate the burden of payment collection, allowing you to focus on growing your business and maximizing your time.
How long is the franchise contract?
The franchise contract has a duration of five years, starting upon signing the franchise agreement. Upon completion of the fifth-year term, the franchisee who maintains the minimum percentage of market size represented by their active clients will have the opportunity to enter into a new successor franchise agreement for an additional term of 5 years. This successor agreement may also include an option to enter into subsequent successor franchise agreements. It’s important to note that we do not charge any renewal fees.
Is there a yearly minimum requirement for the number of contracts closed?
The minimum yearly commitment for the number of contracts closed is 50. This committed number of contracts can be reviewed and negotiated based on performance trends and consideration of both external and internal factors.
Can I sell the franchise?
Absolutely! A franchisee has the option to sell or transfer their business to a qualified party at any time. The definition of transfer by the franchisee encompasses various aspects, including the assignment and transfer of contracts, security interests, ownership interest transfer, the sale of substantially all of the franchise assets, and more. All transfers must receive our approval, which we will not unreasonably withhold. As the franchisor, we also possess the right of first refusal to acquire the franchisee’s business. In the event of an offer for the franchise business or business assets, we can match the offer within 30 days of receiving written notice of the offer.
What happens if a franchisee wants to cancel their franchise?
There are no provisions in the franchise agreement that permit the franchisee to terminate the franchise agreement. However, some states may allow them to terminate as permitted by state law. As the franchisor, Cyberbacker must have cause to terminate an agreement. We can terminate the agreement if the franchisee materially breaches and fails to cure certain material defaults of the franchise agreement after a given period of time. There are certain breaches that allow us to terminate the franchise agreement without giving the franchisee an opportunity to cure. Typically, a mutual termination agreement is signed after a consultative meeting with the VP of Franchise Development.