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Franchisor Tagged Articles
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Top 5 Reasons To Use A Franchise Consultant
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| If you're seriously considering franchising, perhaps you have a plan of surfing the net or reading some popular franchise magazines in order to find the one best suited for you. Or maybe you try to make this analogy: “I buy everything else on the internet these days, so I'm sure I can locate the franchise of my dreams there, too”. Sure, the web is clearly a wealth of information on every topic imaginable. But while it's a great place to shop for a pair of gold earrings or a new cardigan sweater, it's a lousy place to conduct an effective franchise search. Trying to find your ideal franchise using this strategy will, at best, completely overwhelm and frustrate you. |
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Initial Franchise Fee: The 4 Elements Crucial To Your Success
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| As candidates progress through the due diligence process of evaluating a specific franchise, I am often presented with this very common question about one of the costs involved in becoming a franchisee: "what exactly does the franchise fee cover and how does it benefit me?" This is a great question that needs to be addressed. |
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5 Top Franchise Financing Options Discussed
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| A perceived obstacle that sometimes is mentioned from candidates I work with as a franchise consultant is this: “What is the best way to finance this franchise business venture?” This is a very legitimate question that needs to be addressed. A few, less-than-serious franchisee wannabes have absolutely zero clue of where they’ll get the money or even how much of an investment is involved. The vast majority, however, have at least some idea of how they will finance their business. They simply need some clear, concise information about what each option entails. I'll discuss 5 options here. |
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List of small business ideas
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| If you are considering setting up in business and you are not sure what to do then how about a list of businesses you could begin - so here is a list of small business ideas:
- An online business selling products using a drop-shipping company - like umbrellas or women's shoes or perhaps perfumes.
- Become a plumber - even during a slow-down plumbers seem to be in demand and can earn significant sums.
- Set up take away business selling pizzas or burgers - in a slow down these types of business always prosper, as people tend not to go to restaurants as much, but will still get a take away with a bottle of wine. You do have the option of setting up a franchise with this line of business, but you have to consider the fact that a per cent of your turnover will be taken by the franchisor. |
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Cox & Kings eyes overseas acquisitions to strengthen franchise operations in India
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| 2nd February 2010: Travel operator Cox & Kings India is scouting for acquisitions in countries like the US, Canada, England, Australia and New Zealand, a senior company official said today. The travel operator, which raised Rs 610 crore through a public issue in December last year, has earmarked Rs 150 crore for funding such acquisitions. "We have a fund of Rs 150 crore earmarked for this (acquisitions). We are very comfortable with countries where the laws are familiar like the US, Canada, Australia and New Zealand...It becomes very attractive for us particularly since these countries are just coming out of recession," Cox & Kings Executive Director Peter Kerkar told PTI here. |
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Franchise Owner To Be? 18 Questions To Ask Current Franchisees
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| Okay, so you’ve been investigating a franchise opportunity that has you both eager and excited at the prospect of becoming an entrepreneur. Your franchise consultant has discussed the business in depth with you, including your role as a franchisee, the financial requirements, skill set needed, and you’ve been introduced to the franchisor. You have received a copy of the UFOC, which you have carefully investigated with an advisor. Your family is behind you 100%. So far, everything looks great! What’s next? |
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PaintBall Sports Franchise In India
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| Growth Of Alternative Sports Through Franchising In India is relatively nascent.With a growing middle class and increasing urban incomes, lifestyles are evolving.As lifestyles evolve sports,fitness and well being are gaining predominance.Adventure/Extreme sports are becoming popular and outdoor activities like trekking,rafting,camping,parasailing are regular weekend activities.With IT and other services evolving there has never been a need for group sport activities like bowling and paintball.I am highlighting in my article below how we have a built a franchise model for a franchisor seeking to expand in the paintball sports and how any sportpreneur seeking a new franchise business opportunity in the sports industry in India can get associated with this company and start a new franchise business. |
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Annual Franchise Legal Update
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| In our courtrooms last year we saw a multitude of decisions that reflect the state of our economy - "Uncertain". |
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Franchise Information Sources
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| There are many good sources of information about franchise opportunities. For most people, the process that makes the most sense is to first make sure you understand the business model of franchising. After you’re clear on what franchising is all about, then you can try to identify industry segments that may be of interest to you. Finally, you can research individual companies to see which ones match best with what you are looking for in a franchised business opportunity. |
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The Simple Concept of Listening: a franchisee simply wants to be heard.
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| Listening. It’s a simple concept. |
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New Franchisors Need to Manage System Growth
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| When developing a new franchise program, franchisors need to manage the sale of new franchises. Franchises should be sold with a well designed strategy, that reflects the ability of the franchisor to service and support new franchisees. If the franchisor is based in Dallas, they shouldn't start selling franchises in New York or Florida, unless they have a unique and fairly simple franchise concept, which requires little or no support.
It's equally important for franchisees to have the ability to successfully penetrate a new market. One or two locations in a market may not be sufficient to establish strong brand recognition. |
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The Franchise Contract: Understanding the Personal Guaranty
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| One of the most important provisions of a franchise agreement is the personal guaranty. It’s important for prospective franchisees to fully understand the reason why franchisors require this covenant and what the implications are in the event the franchisee has problems. When performing franchisor due diligence, keep this factor in mind. |
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Lesson #2: Grab a Partner and Go
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| Orfalea recalls the way in which he first came up with his idea for Kinko’s: “It was an easy business…My dad made women’s clothing, and he had all this inventory to worry about. So I thought, this inventory thing is bad news. I don’t want anything to do with it. With a Xerox machine, I can dial a button and what comes out the end I can sell. It’s actually a simple, dumb business really.” |
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Franchisors as a Source of Financing
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| Although not considered a traditional source of financing for franchisees, many franchisors provide financing. During the current recession many franchisors are finding ways to offer a financial boost to new franchisees. Here is some timely information pertaining to franchisor financing. |
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How Does A Franchise Owner Recover A Poor Relationship With Their Franchisor?
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| Its troubling to see many franchise owners who do not realize the full potential in their businesses because they do not fully utilize the resources and support available to them. That is troubling enough on its own, but when this happens because for some reason franchisee and franchisor do not get on very well because of past 'bad blood' then this is a totally avoidable tragedy.
Everyone get over it and move on!
I'll show you how here. |
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The 'No Brainer' To Franchise Success
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| Let's not over complicate things in your search for greater success with your franchise, as mostly the answer is staring you right in the face.
To realize the absolute full potential of your franchise you must be an owner who is prepared to connect and engage in deep collaboration with your franchisor. This attitude and culture enables you to enjoy a mutually beneficial relationship and only while in a relationship of deep collaboration with your franchisor will you be able to fully leverage all of the resources available. |
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I Wished I Had Hired a Franchise Lawyer When I Bought the Franchise
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| In the 34 years of representing buyers and sellers of franchise, I have nearly seen it all. I feel like an emergency room physician when I meet a client who bought a franchise and has lost hundreds of thousands of dollars in a failed or failing business. The franchisor is threatening termination and a suit for lost profits against them personally, there are in breach of their lease and their lease guaranty, and their SBA loan secured by their home is in default. |
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The Future of Franchising
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| Franchising demands trust, openness, support, consistent behavior & most importantly defined roles from the franchisee & franchisor. According to a study, franchising contributes 20% to global GDP and has been able to attract retail investors in India. Global brands like Mc Donalds, Subway, Reebok, KFC and many more entered the Indian market through the same channel. |
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Know YOURSELF to Choose A Right Franchise Opportunity
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| Often when someone talks to me about franchising they will ask, "So, what are the hot franchises these days?" My answer is usually this, "The ones that most closely align to the new franchisee's personality and passions and are in a franchise system that aligns with their beliefs about what the right business culture should be."
So let me ask, are you one of those who think a franchise’s success is the primary reason to buy a franchise? In other words do you think since they are successful I should consider becoming a franchisee in that particular business, that particular brand?
If you’re looking to become a franchise then you are likely to think just that way.
Don't!
“Hey, if it makes money for others, it’ll make money for me.” |
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How to Evaluate a Start-Up Franchise Company.
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| In a previous article I presented the advantages and disadvantages of purchasing a franchise from a new franchisor. This article provides key factors that should be considered before making your decision. Learn how to evaluate the start-up franchise company.
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Franchising Your Business - the Key Questions to Consider
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| Franchising Your Business: Key Questions to Consider
Why Does Franchising Make Sense?
What Does It Take to Succeed as a Franchise?
What are the Procedures to Franchise a Business?
Becoming a franchisor can be the fastest, most efficient, and, in most cases, the most cost-effective way to expand a business. Many successful business owners investigate franchising a number of reasons. |
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Follow up to Rock Music Franchising Decision- Significant Reward in Favor of Franchisor
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| In a previous article on the FranchiseKnowHow website, Craig Tractenberg of Nixon Peabody reported on a favorable ruling on behalf of the NP client, Paul Green School of Rock Music Franchising (PGSORM).
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An Interview With CMIT Solutions Franchise Founder
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| CMIT Solutions franchise network is a franchise company that’s on the right track, helping small business owners to manage their technology needs. In addition, this franchisor practices what they preach when it comes to supporting their franchisees.
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Finding the right Franchise
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| Franchising refers to the methods of practicing and using a specific business philosophy or system. The Franchisor, or Home Office, grants the franchise operator, the franchisee, the right to distribute its products, services, techniques, and trademarks for a percentage of sales, commonly called a royalty fee. |
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Cost of starting a traditional business versus online business
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| Cost of starting a traditional business or franchise versus online business.
Look at the different expenses that can occur with these businesses. Products that you are selling or promotion and the return on them. |
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Points to consider for International Franchise Expansion
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| Expanding an already successful franchise overseas can be a great way to develop an already successful national franchise. However, careful consideration must be given to ensure your franchise is ready and prepared for unfamiliar markets. |
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Franchise Opportunity - 5 Questions to Ask About The Franchise
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| The following discussion covers five questions that should always be asked by the Franchise Candidate. If a Franchisor is either unwilling, or unprepared, to answer these questions, it should be a strong indicator that the fit may not be right. |
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Franchise Opportunity - Questions To Ask The Franchisor
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| Whether it's hamburgers, pizza, telecom, coffee, Internet, muffler parts, or seniors' services, there are Franchise opportunities available to evaluate. |
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Before Starting Your Franchise Have Your Team Ready to Go
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| A successful franchise operation requires more than one person to manage the business. There are a number of reasons why it's important for a new franchisee to have their team in place before the franchise is off and running. First, the franchisor needs to know how the franchisee intends to operate their franchise before completing the franchise transaction. Here are some reasons why both the franchisee and franchisor need to have answers to this particular question.
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Franchise My Business UK
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| You have a successful business and wonder how to expand it and make the most of your winning idea and business model. This article looks at if franchise might be a viable way forward to expand and grow your business and the basic steps to go about franchising your business. |
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Franchisors being Revolutionized by the Internet
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| There’s no doubt about it, the franchise market has been revolutionised by the Internet. Not only has it changed the way businesses promote themselves, attract new customers and keep existing ones, it has also increased expectations. Franchisees now expect business processes to be online and clients are seeking out IT companies that can offer them more than just a basic website. |
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The Bloomtools franchise story
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| The most successful franchise businesses are often determined not only by the strength of their marketing and products, but also by their inner business strengths. The driving team behind the franchisor needs to have strong values and an immovable vision for the success of the business and its franchisees. |
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What makes a good franchisee?
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| Considering franchising as a route to self employment? Not everyone is cut out to be a successful franchisee. Nick looks at what qualities make a good franchisee and what don't. Don't miss this essential franchise reading material if you are seriously considering buying into a franchise in the near future... |
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Tips on writing a Franchise Business Plan
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| Over 90% of franchisees in the UK run profitable businesses according to the annual national survey carried out by the British Franchise Association, so its easy to see why many of the well know high street banks have confidence in new franchise businesses. Furthermore, the banks are making much use of the Enterprise Finance Guarantee Scheme. |
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Franchise Start-up: Engage Professionals to Eliminate Costly Mistakes
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| In a challenging business environment where competition is extremely high and too many players fighting for the customer’s dollar, it is not so easy to succeed with a new start-up. |
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Ask These Questions Before Becoming A Franchisee
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| Recently I took a short business trip which required some air travel. My traveling companion on the way back, not getting my subtle hint of isolation that my Ipod Touch and headphones projected asked me about my trip and then my profession.
What followed was a series of questions that started out in very familiar terms: "You know, I have always wondered about getting into business for myself but I'm not sure I'm qualified or that it's right for me. " What followed was most of the following questions that are commonplace and typical. So, in only a mild order of importance or, more to the point the way they seem to flow, are my twelve or so typical questions people have burning in their bosoms about franchise business ownership.
Check them Out... |
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Master Licensing Franchises - A Change of Heart
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| The odds are against success. The numbers don't lie. The challenges facing the operations of a larger small business development compared to a smaller business component is significant enough that it is best to start smaller, ensure your grip on the business model and then grow from there.
These are all expressions I have used. For the most part I still believe these...IF we were talking 5 years ago I would stand by them, in front of them, behind them and arm myself on all of the information that supports them.
Today is a different day however. |
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Licensing v. Franchising
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| This article discusses the elements of a trademark license and of a franchise and the "Twilight Zone" between the two with respect to the degree of assistance the licensor provides and the degree of control the licensor exerts over the licensee method of operation. The danger is having a license agreement ruled to be a franchise and the licensor to be in violation of the FTC Franchise Rule and state unfair and deceptive trade practice laws for failure to comply with the pre-sale disclosure requirements of the FTC Franchise Rule. |
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Tips for a Successful Gift with Purchase Campaign
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| Gift with Purchase Promotions can be a very cost effective and a successful way of achieving specific objectives however there are certain steps you need to follow to ensure that your Gift with Purchase campaign is a success. This article outlines all the steps you need to take in order to make your Gift with Purchase campaign a success. |
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If you thought recruiting staff was easy, try recruiting franchisees!
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| Recruiting franchisees is complicated. Franchisors are looking for a very special individual who has the drive to run his or her own business. And there are numerous other problems to overcome! |
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Why should entrepreneurs choose Franchising vis a vis starting their own business?
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| Starting up a new venture can be a risky affair. You can painstakingly explore and research your market, time the set up to perfection, open your business where demand is high, outdo the competition, offer the best range of products and services available, advertise in the right places and still your business can fail. In fact global Small Business Statistics indicate that one half of new businesses close within the first 3 years of trading. When describing exactly what a franchise is, the important thought is “the right to do business in a prescribed manner.” |
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Before you start Franchising
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| Developing a franchise module requires a great investment of time and money in brand building, training, advertising, expert guidance etc. So if you have decided to get venture into franchising here are some guidelines. |
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The Benefits of a franchised business vis-a-vis a Standalone
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| Starting up a new venture can be a risky affair. You can painstakingly explore and research your market, time the set up to perfection, open your business where demand is high, outdo the competition, offer the best range of products and services available, advertise in the right places and still your business can fail. In fact global Small Business Statistics indicate that one half of new businesses close within the first 3 years of trading. When describing exactly what a franchise is, the important thought is “the right to do business in a prescribed manner.” |
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FRANCHISING IN INDIA: A Critical Perspective
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| Franchising in India is not regulated and unlike popular statistics, only 25 to 30% franchisees are successful. Based on my experience in understanding franchising in several large markets, India is atleast 30 + years behind any developed market when it comes to the market size, growth potential and the level of expertise in the franchising business. In my past five years in the Franchising Fraternity, I have come across more failures than successes, both from franchisors and franchisees. |
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WHAT MAKES A SUCCESSFUL FRANCHISEE?
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| The success of operations of the franchisor lies more in selection of a suitable franchisee apart from a tried tested and proven system, feasible business plan, sufficient profit centres, and motivated employees. We shall discuss the traits that make a franchisee successful.
The characteristics that make an individual, a successful franchisee are that they are prepared to follow the franchisor's tried and tested system, are self motivated, prepared to work full time in the business, capable of managing people and ofcourse a good leader. |
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FRANCHISING IN INDIA: OUTLOOK FOR 2009
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| Downsized by the financial meltdown, Rohit Vaidya suddenly was forced to find a new job. Rohit, formerly vice president at a private equity firm for five years, lost his job in November 2008 after the financial slowdown led to liquidation of the company. Rohit whose family comprised of his spouse and three boys and his parents, needed a steady source of income to stay afloat.
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Franchise Dictionary / Glossary
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| Whether you are an experienced franchise professional or you are just a fresher in franchising? This glossary is aimed at demystifying any jargon that you may come across while visiting an exhibition, taking an industry convention or reading a magazine, Here you will find explanations for the most important franchising terms.
What’s the difference between a franchisor and a franchisee? Many terms are commonly used in association with the concept of buying and owning a franchise. If you are interested in purchasing a franchise, you need to be familiar with these terms. Are you considering franchising your business, this glossary is the most comprehensive franchising dictionary available. |
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How to Sell A Existing Franchise Business:
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| Provides useful tips and advice for small business owners on how to prepare an existing franchise business for re-sale in today's market. |
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A franchise business is SMART business
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| This article presents that the best way to go in to a business is through a franchise business. |
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7 pointers for success in a franchise
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| This article gives you seven pointer on how to succeed in your own franchise business. |
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Franchisor Rebates from Suppliers
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| Franchisors can receive rebates from required suppliers, but there are several things that should be first considered. |
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Buying a Franchise, Due Diligence
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| Buying a franchise is a major investment. Buyers should carefully consider various aspects of the offering before making the purchase. Here are some suggestions. |
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Franchise Sales in the First Year
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| Franchisors should carefully consider how and where they are going to sell franchises in the first year that they offer franchises. |
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Franchise System Specifications
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| Franchisors want each franchisee to operate indentically, as much as possible. The franchise specifications are used to establish that uniformity. |
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Franchisees are Independent
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| It is important that those visiting or doing business with your franchisees know that the business is independently owned and operated. |
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Exhibiting at a Franchise or Trade Show
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| You can build your business by exhibiting at franchise and trade shows. Here are some suggestions when you decide to exhibit. |
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Multi-Brand Franchising May be Declining
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| We have seen the growth of franchise conglomerates that have multiple franchise brands. That trend may be declining. |
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The 7-11 Franchise Program
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| The 7-11 Franchise Program may not be the best model for new franchise plans. |
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"Untouchables" and "Discussables"
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| You should carefully consider which elements of your franchise program you are willng to negotiate, and which parts of the program should not be changed from one franchise sale to the next. |
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Will That Franchise Work in My Community?
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| Many people think that their town is unique. Is this true? This article will give you tools to help you determine if your town really deserves special attention. |
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Franchising 101 - Finding Great Information
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| This article will provide the reader with a large number of resource alternatives to help in the better understanding of franchising. |
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Pros and Cons of Buyig a Franchise
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| This article is designed to give you a deeper understanding of the relative gives and takes of buying a franchise and will help you look at franchising within a balanced framework. |
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Maximizing Discovery Day
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| Most Franchisors require a Discovery Day prior to signing a franchise agreement. The Discovery Day is a chance for them to get to know you and for your to get to know the franchisor. Being prepared will make your Discovery Day much more successful. |
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Evaluating Franchise Marketing Programs
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| An important part of any franchise system is the marketing program. Is the franchisor able to help you predictably create demand with a proven marketing approach. This article will help you determine if the franchisor is providing real value in regard to marketing programs. |
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Franchise Resales Part II - Due Diligence Tips
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| This is the second of a two part series dedicated to helping people better understand the give and takes of investing in a franchise resale. |
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FRANCHISING IS AN EXPANSION METHOD
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| Franchising offers a number of significant benefits and solutions in terms of expansion capital, local unit management and time to market.
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10 Myths Surrounding Cheap Small Business Franchises
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| It’s often the most boring myths that cause the most confusion and fear, like the host of myths surrounding cheap small business franchises. Hopefully this article will help to debunk some of the more popular myths about cheap small businesses. |
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Promotional Products are the best source of Marketing Support for Franchises
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| An outline of how Promotional Products are the best source of Marketing Support for Franchisees because they ensure each location will receive the same benefits compared to other forms of Marketing & Advertising where some franchise locations benefit more than others. |
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Top 5 Work From Home Business Opportunities For Under $10,000
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| Work from home businesses have plenty of financial benefits, but perhaps one of the best advantages for any first-time business owner is how affordable a home based business franchise can be. Here's a look at 5 home business franchises that all come in at less than $10,000. |
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Buying a Franchise vs. Starting a Business ©
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| During economic downturns, many employees get laid off from their jobs. They are then faced with the question of what they do next. They may file for unemployment benefits and look for another job. Others may consider buying a franchise or starting their own business. This article discusses the advantages and disadvantages of buying a franchise versus starting a business from scratch. |
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Is franchising right for me?
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| Franchise business offers a more secure route into self employment than going it alone. Over 90% of UK franchise owners run profitable businesses according to the British Franchise Association/Nat West National Franchise survey. By following the proven franchise model the local franchise owner can build his own successful business in the UK. Nick Strong of Select Your Franchise and Richard Holden of Lloyds TSB give insights to prospective franchise owners. |
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How To Apply For A Small Business Loan
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| Starting a small business without private investors or a loan is next to impossible for most entrepreneurs, so if a loan is in your small business future, check out the best way to go about acquiring one. |
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Top tips to buy a franchise
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| Nick Strong and Richard Holden, head of franchising for Lloyds TSB bank, look at some top tips for you to consider when you decide to buy a franchise in the UK. |
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Evaluating the Market
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| Though franchising is considerable less risky than starting a business from scratch, as with any new business, an element of risk still exists. With this in mind you need to ensure that you thoroughly research the franchise you are interested in; there is no room for getting it wrong! You cannot get carried away with the idea of running your own franchise without finding out whether that business is viable. Researching, and knowing your potential market inside out, is essential. |
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The Franchise Ambush, Part II - How to Help Your Friends & Family Help You.
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| This article dicusses the type of advice potential business owners normally receive from friends and family and provides a more balanced outlook on how to discover the best business opportunity for you. |
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Top 10 Work From Home Small Business Franchises
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| Working from home has plenty of benefits; no commuting back and forth, big tax breaks for your home office and low startup and ongoing costs. Here's a look at the top 10 work from home small business franchises currently available. |
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Where Can I Get Start Up Money For A Business
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| Starting a new business can be tough, but if you have the drive and ambition, you can be your own boss and make great money running your own business. Now the hard part: where on earth are you going to find the money to start your business? |
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Small Business Ideas For The Experienced Salesperson
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| Sales is perhaps the world's older profession, and if you have the skills to make a great salesman, odds are you also have the skills to make a great small business owner. Here's a few tips to make the transition as smooth as possible and be running your own business in no time. |
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Franchise development in 2009
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| Franchise business can grow in recession. Nick Strong looks at some of the ways franchising can grow in 2009. |
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Franchise lead handling
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| Franchise sales managers need to help e right people find the right franchise opportunity for mutual benefits to be reolised. |
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Violation of the California and Illinois Franchise Laws by a Franchisor
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| This article explains how a franchisee who files a federal court action alleging violations of California and Illinois franchise laws should respond to a franchisor’s motion for summary judgment. |
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Determining the Initial Franchise Fee
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| Many factors impact the franchise fee charged by a Franchisor. Some franchise companies make the mistake of setting their franchise fee based solely on what their competitors are charging. Although this may appear to be a sound strategy, the problem is that not all franchise systems are created equal, regardless of whether they operate in the same industry...With Franchise Fees wildly fluctuating even among similar type franchise companies, to a potential franchisee the Franchise Fee may appear to be based on a "throw it out there and see if it sticks" approach. However, when the Franchise Fee is properly established based on a thorough evaluation of specific factors, it can be easily justified (and understood) by a potential franchisee. |
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Paying Royalties might be the best money spent in your Business
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| I recently had a conversation with a Franchisee who owns several Hair Cutting Franchise locations. One of the things he emphasized on is that royalties are the best money he spent in his business. He specifically said that every time he needs help or a question answered, all he has to do is pick up the phone, and call the Franchise and he receives an instant answer. He attributes that to his success. |
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The American Dream, Part II of II
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| This is part II of a two part article. The first part looks at the questions a prospective business owner must consider when pursing "The American Dream".
In part II we will compare buying a franchise or existing business to starting a business from scratch.
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Should a Franchise Holder Be Allowed to Continue Operating While a Termination Suit Is Pending?
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| Should a court issue an injunction ordering a franchisor to allow a franchisee to continue to operate his franchise pending conclusion of trial on charges that a franchise was improperly terminated? The position taken here is that in many cases such relief should be granted. |
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Can a Choice of Forum Clause Force a Franchisee to Litigate In the Franchisor’s Home State?
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| A franchisee who has a grievance against his franchisor is not likely to want to pursue litigation in a distant forum, and thus may turn to a state court in his home state. The franchisor typically removes the case to federal court, 1 and then, invoking the forum selection clause in the typical franchise agreement, seeks to transfer the case to the federal court in the franchisor’s home state. |
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This is the best time to invest in yourself and buy a business
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| Every day we all wake up to more negative news about the economy and the state of the financial market. We turn on the news to listen to the so called experts telling us what to do with our investments. Here is a thought that I would like everyone to consider " Invest in yourself by buying a business". I am not talking about just any business, but more specifically a Franchise business. |
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How Much Does A Franchise Business Cost?
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| Spending the money to purchase a franchise isn’t an easy thing to do, particularly if you’re unfamiliar with the ins and outs of the business. If you feel you need a crash course in franchise costs, this is for you. |
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Handling Explosive Growth
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| It is possible for a franchise system to grow so quickly that it gets out of control. Here are some thoughts about a reasonsable growth curve. |
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Is Franchising Scary?
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| You really shouldn't be afraid of starting a franchise development program. |
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Are You Ready For Franchising?
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| Franchising. Just saying the word has an almost soothing quality to it as it rolls off the tongue. As a concept, franchising is suppose to provide business owners a sense of comfort and ease, knowing that behind their new venture are people with years of tried-and-true business experience waiting to share it.
Franchising is a business network that allows people to share a brand identification, a successful method of doing business, and a proven marketing and distribution system.
But franchising isn't for everyone. In fact business owner "wannabees" should think carefully before spending many months and much cash on securing a franchise that either isn't right for them and provides no extra benefits.
This article provides 5 important steps you should consider before purchasing a franchisee.
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Put Past Business Experience To Use With A Work From Home Opportunity
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| Chances are you’ve already spent years in the workforce before thinking about starting your own home business, so don’t put that time to waste. Instead, consider franchises that can build on your employment history. |
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Top 10 Business Service Franchises
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| There are innumerable opportunities for entrepreneurs interested in profiting from relationships with other business leaders, but here are 10 of the best. |
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The Key to Rapid Growth in Network Marketing or MLM is Duplication
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| There is a common trait which runs through all massively and even moderately successful Network Marketers, they have all applied this very simple principle. The principle they have applied is that of ‘duplication’. Duplication is an absolute corner stone of success in Network Marketing and MLM. I will even go so far as to say that if the network marketing business does not posses the ability to duplicate their efforts, business is doomed to failure! |
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Understanding the Franchise Disclosure Document (FDD)
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| This article provides a frame of reference to study the FDD further while coveri the primary topics discussed in the FDD. It also provides information on where to secure more detailed information on the FDD. |
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Awarding a Franchise Semantics or Not
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| This article explores the nature of the franchise relationship. It discusses the commonly used term - Award a Franchise - and explores the importance of this perceptive in for formation of a healthy franchisor/Franchisee relationship. |
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Fact and Fiction with Franchise Ownership
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| This article discusses some of the facts and misperceptions in regard to franchising. It covers topics such as safety, support, territories, system, time commitments, ... |
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Does Franchise Growth Indicate a Successful Franchise?
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| This article discusses the importance of franchise system growth in your due diligence. It discusses the give and takes of growth and provides way to interpret the information you gather. |
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Make Big Money The Real Story
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| This article address a question posed to me by one of my candidates -
Hi Rick....quick question.....in talking with a friend this weekend......wondering: is there an opportunity to earn a six figure income with a franchise that is strictly home office-based?...all communication done by phone, email, fax, UPS etc....... |
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Should Entrepreneurship Be In Your Future
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| This article discusses what it takes to be an entrepreneur. If you are wondering if owning your business is right for you, this article will help. |
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Passionate Australian owners make web business a success
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| The most successful franchise businesses are often determined not only by the strength of their marketing and products, but also by their inner business strengths. The driving team behind the franchisor needs to have strong values and an immovable vision for the success of the business and its franchisees. |
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Home Based Business Opportunities that Put the Salesman to Use
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| If you are a naturally talented salesman, there are many business opportunities perfectly designed to suit your skills, and here are some of the best. |
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What is Franchising
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| In its most simple definition, a Franchise is a business opportunity that allows the Franchisee (possibly you) to start your business by legally using someone else's (the Franchisor's) expertise, ideas, and processes. In some cases, this means also having the right to use the Franchisor's established name and branding, as well as their already-tested business model. In other cases, this means the right to resell (or distribute) a Franchisor's product. |
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Kwik Kopy Moonee Ponds wins national Franchise of the Year 2011 award
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| Kwik Kopy won Australia Franchise of the Year 2011. Delighted Owner Mike Beuermann accepted the award at the Kwik Kopy Australia annual conference in the Barossa Valley on 2 April 2011. The winner of the award, judged by senior management at Kwik Kopy Australia, is chosen on the basis of meeting or exceeding selected key performance indicators (KPIs) covering production efficiency, profitability, profit growth, sales and sales growth. |
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5 Home Businesses That Make Money While You're Away
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| In general, money can only be made where there is some kind of a person-to-person exchange of goods or services for cash. However, there are some franchise business opportunities that bring in profit even when the franchisee isn’t there to make the transaction. Though, at one time, that might have been a revolutionary concept, today automated businesses are everywhere, turning profits on everything from vended sodas to online gaming, all while the owner is expanding the business, taking on new business endeavors, or maybe just kicking back with a cocktail and one of those little drink umbrellas. |
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Is Business Ownership Part of Your Destiny
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| For many, the thought of business ownership is very appealing. Business ownership is a way to control your own destiny, be your own boss, and ultimately build yourself a strong financial asset. There are different ways to embark on your business ownership journey. Should you start a new business, start a new franchise, or buy an existing business? |
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Franchise Legislation in Canada
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| A brief overview of Canada's franchise laws |
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Great Small Business Franchises For The Skilled Administrator
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| Do you love flexing your left brain while multi-tasking between a spreadsheet and an e-mail inbox? For those of you with a gifting in administration, there are some great business opportunities for you and with your much coveted skillset, you have exactly what many franchisors are looking for in a prospective franchisee. Here's a look at some of the best small business franchises for skilled administrators. |
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Cheap Small Business Opportunities For The Stay At Home Mom
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| Many families these days find it necessary to have two incomes, but when families have small children and choose to have one parent stay at home, it can be tough to make ends meet. Here's an in-depth look at some great home based businesses that are perfect for stay at home moms. |
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The Ten Golden Rules
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| Advice for Buying a Franchise |
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What matters most to the franchisors about the potential franchisee
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| Before you step into the 'searching for the perfect franchise' waters, it is good to know what they want to know about you. In this article we reveal the 6 vital questions that every franchise wants to know about you, the typical order of importance and most importantly 'WHY" they want to know. Having this knowledge will better prepare you for your search for your "Best Franchise Solution". |
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How To Finance A Home Based Business Franchise
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| Making the decision to start your own home based business can often be easier than actually coming up with the money to pay for the new business. In today's economy, finding a loan can be tougher than ever, but if you know where to look and are familiar with alternative methods of financing, you can start a home based business franchise in no time and recoup your investment before you know it. |
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Become A Publisher With A Franchise Business Opportunity
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| A career in publishing can sometimes be a tough nut to crack, but with a franchise business in printing and publishing, you can enter this exciting industry with the help and experience of a franchise that has developed and perfected their system and is ready to help you do the same. |
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Top 5 Personnel And Staffing Small Business Franchises
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| An ever increasing trend in the business world today is the outsourcing of certain parts of the business that would have traditionally been performed in-house. This is probably most prevalent in the area of staffing/recruiting and human resources. For many businesses, it is simply not cost effective to have people on staff to interview and recruit temporary positions, or for small companies, it may be too costly to have an entire HR department on full-time staff. Here's a look at some of the best franchise opportunities in personnel and staffing that can put you in a position to help businesses get the job done right, with the right people in place. |
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Storage Business Opportunities For The Organized Franchisee
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| For the left-brained, super-organized business professional, the idea of clutter around the workplace or the home is a grim thought indeed, so a welcome idea for a new business opportunity may be a storage business. Storage franchises are much more than just storage rental facilities, there are franchises available for everything from closet systems to garage organization, and for the right entrepreneur with a knack for organization, these franchises can really help you clean up. |
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Hottest Home Service Small Business Franchises
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| The biggest investment ever made by the average american is the purchase of a home, so there is a great deal of business to be had when it comes to servicing those homes and keeping the value up on those large investments. Here are a couple great franchises available in the home service industry. |
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5 Questions To Ask Before Starting A Computer Franchise Business
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| Once you have decided to start a small business, it's important to take some time to make sure that you are fully prepared, because once the business is up and running, there's no slowing down. Here are 5 questions to help you decide if you are truly ready to take the plunge and start an exciting and lucrative computer franchise business. |
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Hottest Small Business Service Franchise Opportunities
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| When venturing out to start your own small business, it may be easy to overlook the businesses that provide essential services to nearly all businesses, big and small. Business-to-Business services can provide a steady stream of income due to the repeat business generated through the corporate clientele, and B2B franchises take all of the benefits of a B2B business and streamline the process with a successful franchise name. |
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Hot Wing Business Opportunities Prove To Be A Hot New Trend
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| Are you looking for a hot new franchise business? Considering opening up a restaurant for yourself? Buffalo hot wing franchises seem to be popping up all over these days, and there's more than enough reason why. People can't seem to get enough of those spicy and savory wings and there's big money to be made as a franchisee with a handful of the top wing franchises. |
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4 Ways to Finance your Franchise
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| If you are interested in buying a franchise, you have probably taken into account all of the benefits that a franchise offers over starting your own business. You will benefit from a proven successful business model and an established brand name. |
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How to Avoid a Franchise Scam
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| If you are thinking about buying a franchise, there are many opportunities in a variety of industries that you may find suitable. However, there are so many franchise opportunities now that many franchise opportunity scams are surfacing as well. You will have to be wary of these scams while searching for your perfect franchise opportunity, and take precautions so as not to fall prey to them. |
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6 Tips for Being a Successful Franchisee
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| Researching a franchise can be a long, arduous process. If you have done your homework, hopefully you have selected the right franchise for you which will provide you with enough support and will eventually turn a profit. The real hard work starts once you begin to manage your franchise business. As with any business, the first year is often the hardest. Here are some tips to make that first year manageable and be the best franchisee you can be. Remember, hard work is essential to your success. |
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Reselling Your Franchise
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| If you are thinking about re-selling your franchise to a new franchisee, for whatever reason, how is that done? You might be wondering how it differs from selling an independent business, because you don’t technically own the franchise, you only own its assets. You are renting everything else, from the brand name to the business model of the franchisor. |
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Evaluating the franchisor
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| We regularly get asked “is this is a good franchise?”, and though we cannot give feedback on specific franchises, we can help you ask the right questions. As you are entering a two-way relationship, it is vital that you have confidence in the franchisor you choose, and so you must ask questions about their business and structure of the organisation at the early stages. |
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Expanding your franchise business
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| It’s likely that you will have the desire to expand your business, after finding some success in the franchise world. |
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Choosing a Franchise
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| If you’re thinking about going into business as a franchise, here are 6 steps to picking the right one for you! |
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Favorite Automotive Small Business Franchises
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| In the United States and abroad, there is no doubt that the automotive industry is a big business, one of the biggest in fact. And while that’s great for the CEOs and employees of car makers like Ford and GM, it doesn’t profit small business entrepreneurs very well, because it’s virtually impossible for any home business to break into the market. Even getting into auto repair is a difficult task for work from home entrepreneurs because the cost of starting a garage, gas station, or auto parts store is far more than many new businessmen can afford, even if the store is a franchise business. |
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Franchising - Great Expectations
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| It is vitally important to seek advice when purchasing a franchised business. Do not try and go it alone. The cost associated with seeking advice will potentially save you money in the long term. Seek advice from experienced franchise advisers. Do not be nervous to ask about their experience in franchising. |
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Get In The Mix With A Smoothie Franchise Opportunity
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| Go to just about any mall in America these days and you'll undoubtedly come across a smoothie place. Some focus on vitamin boosts and supplements, while other focus purely on great taste combined with fresh fruits and veggies, and all of them are a good sign when it's readily available, Americans will choose a healthy alternative to sugary sodas. If you're ready to jump on the smoothie bandwagon, take a look at some of the best smoothie franchises available. |
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Get approved for a franchise
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| So, you’ve decided to start a franchise. What now? Once you have made that big leap, it is important to figure out if you and the company are a good fit. |
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Benefits of Franchising
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| Careful thought must be undertaken with any major financial decision you make. |
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Are You a Potential Franchisee
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| If you are considering buying a franchise, you have probably done a great deal of research into the companies you might want to sign up with. |
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Franchise Financial Information
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| As dictated by the Federal Trade Commission (FTC), franchisors are required to give prospective franchisees a copy of their Uniform Offering Circular (UFOC) document, which contains financial and material information about the franchisor. |
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How To Be The Next Successful Home Based Business Owner
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| Ever wondered what it takes to run a successful home based business? There are some common principles between all different types of businesses, but home based businesses require a few additional characteristics from the business owner if they're to be a success. This article examines what it takes to be successful in your home based business and will help you decide if you're the right candidate for this exciting business model. |
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Entrepreneurship and Franchising: Perfect Together
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| For years we’ve been reading articles about a franchisor’s desire to select franchisees that are not too entrepreneurial…that are in fact interdependent rather than independent. In order for most prospective franchisees to take the leap into business ownership…they need to develop an entrepreneurial spirit. |
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Top 7 Myths About Pet Business Franchises
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| If you're an animal lover who has ever considered starting your own business, perhaps you've been given some advice from friends, or come up with some of your own pre-conceived notions. A pet franchise is a great way to get into a fun small business, but to give your new franchise it's best shot at success, take a look at some of the common myths about pet franchises and how to avoid them. |
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Favorite Staffing And Personnel Franchise Business Opportunities
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| If you've ever been searching for a job, you undoubtedly know the value of a good staffing or personnel business. This article looks at some of the best staffing and personnel franchises available today. These franchises specialize in providing staffing services for all sorts of industries. |
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Franchising Pros and Cons
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| Some folks offered helpful insights and suggestions on how to pick a franchise and a few things to watch out for, while other emails came from current franchise owners asking me to help them sell their operations to Anthony R. |
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Franchises Offer Shortcuts But Not Control
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| Franchising can be a great way to start a business career, but you should make sure you're not just trading one job for another. Unless you plan on being an absentee owner, which I highly discourage, you are going to be working in the business just as an employee would, so be sure the business you choose doesn't turn your lifelong dream into a never-ending nightmare. |
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Hottest Canadian Franchise Business Opportunities
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| Though businesses sometimes like to restrict themselves to certain geographic boundaries, the entrepreneurial spirit knows no borders. With the right kind of self-starting, hard-driven business owners living on both sides of the US/Canada border, there is no reason to neglect the franchise needs of either group. As such, here are some of the best possible business opportunities which are mostly US based, but are available to the business-savvy Canadian entrepreneur. |
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7 Easy Tips To Help You Purchase A Hotel Or Motel Franchise Business
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| If you're considering a new franchise business, consider that a hotel or motel franchise takes a much larger initial investment than most other franchises, but can have a huge payoff once it's up and running. Read on to find out more about the ins and outs of Hotel and Motel franchises. |
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Favorite Healthcare and Senior Care Small Business Franchises
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| With the baby boomer generation nearing senior citizen age and the health care industry in higher demand than ever, healthcare and senior care small business franchises both make great franchise business choices, and here are a few of my favorites. |
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Great Work From Home Small Businesses For The Seasoned Entrepreneur
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| While many franchise businesses are designed for those with little to no business experience, there are some franchises where an experienced entrepreneur will have a definite advantage. If you're a seasoned entrepreneur, take a look at your best options for a work from home small business. |
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Hottest Vending Machine Home Based Businesses
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| Vending machine businesses are much more than just candy and quarters, this industry has the potential to make great money and the flexibility of hours and amount of work, nearly anyone can own and operate a vending machine business. |
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How To Find Financing For Your Small Business Franchise
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| Starting a small business can be hard work, but getting financing for your small business doesn't have to be. This article looks at several of the financing options available to the prospective small business owner. |
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Why you should consider franchising
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| If you dream of one day owning your own business but are discouraged by the idea as it seems too daunting and risky, franchising could be the answer you are looking for. |
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A Day In The Life Of Aspray Property Services Franchise
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| As one gets closer and closer to making a decision to purchase a franchise or start their own small business, there begins to be an uneasiness that comes with not knowing what it will actually look like in day-to-day operations once the business is up and running. While you can begin to see the things that will need to be done overall according to your business plan, your work load, your tasks and assignments that are required to meet the needs of your franchisor, there is always that question when starting the first day of self-employment when no one is there to tell you what to do of; what do I do now? |
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How to Find a Loan for a Franchise Business Opportunity
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| Of the dozen difficult aspects of selecting, starting, and running a new franchise opportunity, few are as potentially paralyzing as paying for it. Most of us have learned that money doesn’t grow on trees, and the average franchisee-to-be simply doesn’t have the cold, hard resources to make a business purchase outright. Whether the goal is a Sterling Optical costing no less than $100,000 or a Baymont Inn at $1mil, the staggering line of zeroes at the end of the prices on those business opportunities is likely to make even the most seasoned businessman run to the bathroom and check his pants. |
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Hey Ive received an FDD Where in the world do I start this thing is huge
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| You are working your way throughthe franchise process and now you have a franchise company's Franchise Disclosure Document and it is several hundred pages. In this 5th article in our series we explain what the intention of the FDD is as well as what to look for when you receive it. This is a critical document and knowing what and where to look is critical. Read on for a description and guide for reviewing a franchise company FDD. |
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What technology should you expect from a franchisor?
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| Technology and the Internet has really revolutionised the franchise market. It’s changed how franchisees promote themselves and get customers and it’s also had a big impact on the way they operate their business. |
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What makes a good franchise opportunity?
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| Want to buy a franchise, but not quite sure what to look for? Here is a quick guide to help you evaluate the franchise opportunities you are considering. |
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Internet franchises - the way of the future
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| So you want to invest in a franchise, but aren’t sure which industry would suit you best? If you are technologically savvy and like a challenge, an Internet franchise could be the way to go. |
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How Franchising Works
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| How franchising works? It starts with the franchisor finding success with his product/service and ends with the franchisee finding his. |
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I want to know more about this franchise company than what is on their website so now what
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| In this article we are going to focus on investigating a franchise that has caught your attention. There is a significant amount of information on most web sites of franchisors these days. If you are serious about pursuing a franchise opportunity it is important that you have enough firsthand knowledge to make a decision based on facts and not emotion. This process will be the focus of this 6th article on our continuing series. |
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Many Franchisors Prefer Multi-Site Operators These Days
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| Franchisors are increasingly taking in more multi-site franchisees because they provide several facilities. For example, this way, the franchisors don’t have to individually develop a territory one at a time and can expand at a faster rate.
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Background on Franchises and How to Choose The Right One For You
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| This brief article explains the history of franchising, explains why to choose a franchise over other business opportunities, and lists some of the key points to evaluate when you're considering the purchase of a franchise. |
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Am I Cut Out to Work For Myself?
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| ot everyone is cut out to be a self-employed business person. To work for yourself, you are required to be an innovative and motivated individual and need to have a professional attitude. |
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Buying Into a New Franchise System
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| Being the 'First cab off the rank' - the first Franchisee into a new franchise system is very risky and it need twice as much thought and consideration before commiting oneself to a binding contract.
However, there are some very positive aspects to being the number one Franchisee.
You will need to be braver, spend more time investigation the offer and getting to knoe the integrity of the Franchisor.
Special deals and special conditions can be negotiated which will be of benefit to both the Franchisee and the Franchisor. |
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Franchise Agreement Key Provisions
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| When it comes to the Franchise Agreement – the legal document that technically governs franchisor/franchisee relations – there is no standard format. Terms and conditions of operations vary from franchise to franchise and from industry to industry. |
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Why Franchises Fail
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| According to the U.S. Department of Consumer Affairs, about five percent of franchisees fail. Any number of factors could be responsible for this failure; however, such failure can nearly always be prevented by doing your due diligence at the outset. |
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Franchise Marketing Plan
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| In order to go anywhere as a franchisee, the franchisor needs to have a sturdy and effective marketing plan in place. Here are some guidelines when it comes to researching a franchisor's marketing plan... |
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What You Should Know About Your Franchisor Before Signing On
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| You are required to choose the right franchisor, if you want to succeed as a franchisee. For that, check out the brand-name of the franchisor as well as the litigation history of the franchise. |
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Creating a Franchise
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| The first question that an individual or company needs to ask before taking the franchising route to growth.
Is franchising the best method of business expansion for you?
Do you have the personal attributes to be a franchisor?
What are your motives for contemplating the utilisation of a franchise system? |
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Successful Franchisee Traits
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| Do you have the personal traits necessary for success in the franchising industry? You might want to make sure you can say “yes” to these questions before you invest... |
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FranchisorFranchisee Relationship
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| Because entering into a franchise is investing in a very real, very serious relationship, you want to make sure that you're on the road to establishing a healthy franchisor/franchisee relationship. |
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Franchise Payments Franchisees Can Expect to Pay
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| Unsurprisingly, there are multiple payments related to owning a franchise. As dictated by the Federal Trade Commission (FTC), franchisors must list those fees in their Franchise Agreements. The following are the primary payments that will be listed... |
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Taking Over an Existing Franchise
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| Do you want to become part of a well-known franchise family but hesitate because of the legwork involved in launching the new franchise location? You should consider taking over a franchise that's already in existence. Take a look at the pluses involved in the transaction... |
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Hiring a Franchise Lawyer
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| Many assume that, because a franchise agreement is by nature a contract, any attorney is competent to review it. However, this is not necessarily the case. Franchise agreements are unique contracts, and only franchise lawyers are qualified to handle them. |
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Exploring the Four Types of Franchises You Can Buy
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| There are four kinds of franchise agreements available when you go to buy a franchise. The single-unit franchise is the most basic one while the master franchise program is the costliest one.
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Franchises for a slow economy
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| How to buy a franchise in a slow economy is an important consideration at times of economic slowdown. However the focus of your franchise business building should encompass short, medium and long term development considerations. Nick Strong MD of www.selectyourfranchise.com looks at how to buy a franchise in a slow economy.
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Top tips for franchise success
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| To find franchise success, you must research about franchising thoroughly. You are supposed to know about the different categories of franchise opportunities available in the market and then settle on one, which will suit you the most. You should also think about the demand of the product/service in future as well as the demographics of your area. |
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What is the Franchise Ufocs Role
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| Learn more about the UFOC before buying a franchise. Franchising is a contract system between two parties-the franchisor and the franchisee. As with any contractual agreement, there are legal documents and agreements that must be followed by both parties. The first of these documents is called a UFOC, or Uniform Franchise Offering Circular. Essentially this document is a disclosure of specific types of information that the franchisor must present before any agreements are signed. |
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What is in a Franchise UFOC
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| There are 4 parts to a Uniform Franchise Offering Circular. We list them here, along with some things to keep in mind for each section. |
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Roles and Responsibilities of Franchisees and Franchisors
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| Who does what? In the franchise system, there are two roles: franchisee and franchisor. The two work together to create and expand a successful business concept. So what role does each play in relation to the other? |
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Is Franchising For Me 15 Questions to Ask Yourself
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| Have you ever wondered if you would make a good franchisee? Ask yourself these 15 questions and you might discover the answer! Franchising is a great business model, but it's not right for everyone. |
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Is Franchising For Me
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| Becoming a franchisee is a personal decision. There are many factors that you'll want to take into consideration when evaluating whether or not a franchise is the right choice for you. |
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How to Evaluate Franchise Support
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| I've narrowed my search down to three franchises. All of them promise great support. How can I get a better idea of what I'll really get from each of them? |
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Franchise Formats
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| There are several different franchise formats to consider when selling franchises. You might refer to these different formats as "flavors" of franchising. It is important to understand the differences so that you can properly develop your franchise program. |
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Forming a Franchise Advisory Council
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| An advisory council, comprised of franchisees, can help the franchisor understand the franchisees' needs, while providing accurate feedback on programs, suppliers, advertising, and other elements of the franchise program. A franchisee advisory council can also be a way to show appreciation to franchisees who are supportive and successful. |
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Register Your Business Name
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| When you begin selling franchises, you will want to have obtained a federal registration for your business name. This is obtained by making a filing with the United States Patent and Trademark Office. A franchisor licenses the business name to its franchisees, so it is important that the franchisor own and protect the name as much as possible. However, it is not necessary to have already obtained name registration before beginning to sell franchises. |
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Franchise Fees Produce Income, but be Careful
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| When you receive a franchise fee you take on the obligation to train the franchisee, mentor them, and do almost everything possible to help them. However, income from franchise fees can be substantial! |
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Key Steps to Buying a Retail Franchise
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| Considering that sales from franchises account for billions of dollars in revenue every year, buying a franchise is statistically the safest way to own a business – provided you choose the right franchise. |
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What You Should Ask Before Buying a Franchise
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| Buying a franchise means putting big dollars on the line, and, for better or for worse, your success doesn't entirely depend on you – the quality of the company behind your franchise also matters. |
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The Small Business Franchise Act
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| Originally introduced in 1998 and passed in 1999, the Small Business Franchise Act (SBFA) is has put into place certain safeguards designed to eliminate fraud and other activities that might exploit franchisee investors. Common opinion holds that the SBFA was introduced in order to give franchisees additional bargaining power against franchisors. |
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I think I want to downsize my Boss but is franchising right for me
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| In this second article of the series we consider the question; is franchising is right for you? We are all individuals with strengths and weaknesses. How do you know if franchising fits your strengths? This question must be dealt with openly and honestly before one considers a step into the "franchise zone". Join us as you answer 5 questions that will help you focus on this important question. |
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Translate Your Current Job Skills to Franchise Ownership
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| Some kind of job skill is needed to qualify as a franchisee. You can have marketing, sales, administrative and management expertise to find success in the franchise world.
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Warning Signs When Buying a Franchise
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| Because investing in a franchise is a life-changing event, every prospective franchisee should thoroughly investigate a franchise opportunity before signing any sort of franchise agreement. |
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How Do You Survive Franchisor Bankruptcy
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| It takes immense discipline and fortitude to survive a franchisor's bankruptcy. It's a good idea to have a plan to minimize any potential losses in revenue and reputation, just in case such an unfortunate circumstance arises. When armed with a plan, you're more likely to avoid disaster and consequently keep your business afloat. |
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Finding a Franchise
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| There are a number of ways you can find and purchase franchises. Keep in mind that due diligence is necessary, and anything that sounds too good to be true probably is. |
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Franchise Financial Performance
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| Your status as either a potential purchaser or merely a curious member of the public partially determines the amount and quality of information you'll be able to discover about the financial performance of a specific franchise. Potential purchasers are able to find out about a franchise's financial performance via the Federal Trade Commission's (FTC) Franchise and Business Opportunity Rule. Under the Franchise and Business Opportunity Rule, franchisors are required to make a series of detailed disclosures to potential purchasers, either in the Uniform Franchise Offering Circular (UFOC) form or in the form provided by the rule. |
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Development of A Franchise Program
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| A company that decides to franchise must have a clear understanding of how it will support franchisee operations, how it will foster communications with franchisees, what financial results the company and its franchisees can anticipate, and how it will market its franchise once it has the franchise program in place. Some key considerations for each of these aspects of a franchise program are discussed below. |
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Does Your Concept Have What It Takes to Franchise?
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| To go a long distance, a concept must have something in it. That includes a USP, strong demand in the market and a business format that can adopt to a changing market. |
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About Franchise Lawsuits
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| Always look into a company's background before you decide to invest in a franchise. After all, the last thing you want to do is throw your money into a concept that carries a history of trouble. |
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Franchisors Moving Toward Preference of Multi-Site Franchisees
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| The tendency of awarding multi-sites by franchisors is a welcome move for the franchisees. It has attracted experienced corporate players, thanks to the numerous benefits this type of franchising has. Some of them include extra profit with lower marketing cost, rotation of employees and stocks and greater buying power.
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5 Tips to Select the Right Franchise Opportunity
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| Selecting the right franchise is the first step towards franchise success. For that, you must check out the viability of the product/service you will be selling along with many other things. Consulting the present franchisees and looking into the litigation history of the franchisor are two of them. If you don’t want to do it all by yourself, consult competent franchise consultants. |
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How Can You Get Out of a Franchise?
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| The law tends to favor the franchisor over the franchisee when it comes to breaking a franchise contract, primarily because franchisors are able to limit their liability via UFOCs and franchise agreements with built-in clauses and disclosures. |
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How Much Can You Make in Franchising?
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| Franchisors often don't give straight answers to franchisees asking the question “How Much Can You Make in Franchising?” due to the numerous legalities involved. |
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Homebased and Mobile Franchise Keeps StartUp Costs Low
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| The home-based and mobile franchise opportunities have various facilities. Since they are home-based, the starting as well as running cost is low. Being a mobile van-based business, the franchisee is not required to remain confined at home all day and the van makes a great visual impact wherever it goes. There are many sub-categories in the home-based mobile franchise business. |
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Are You Ready to Work for Yourself?
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| There are certain things you have to keep in mind while you are thinking about working for yourself. You must have some experience and enough money to start a business of your own. Also, you need to make sure that you know which line of business you want to follow and that your family is with you. |
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What’s Safer: Buying a Franchise or Starting Your Own Business?
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| Have you always wanted to own and operate your own business? Given that there’s a high failure rate for independent, non-franchise businesses, you might want to consider buying a franchise instead. |
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Selling Your Franchise: What Are Your Rights?
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| Would you like to sell your franchise? Easy enough in theory, but not necessarily so easy in practice – the terms and conditions for selling your franchise are outlined in the Franchise Agreement, and Franchise Agreements are as a rule drafted with the interests of the franchisor in mind. |
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Negotiating the Terms of Your Franchise Agreement
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| It is of course up to the franchisor to decide whether one not its franchisees can negotiate the terms of a franchise agreement. Unsurprisingly, the majority of large, established franchisors will not allow franchisees to make changes to the franchise contract. |
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The FTC on Earnings Claims Statements
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| Are you considering buying a franchise? One of the first steps you ought to take is to determine whether that franchise is doing well or poorly financially, which involves determining what the franchise’s actual quarterly and/or annual earnings are. |
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Aid That Franchisors Provide to Franchisees
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| A review of what type of aid franchisors can offer their franchisees, including training, financial assistance, support, location selection and advertising. |
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Are You Ready to Start a Franchise?
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| Joining the franchise industry requires much thought and research for both the franchisor and the franchisee. A competent franchise consultant from a reputed consultation website can make their job easier. |
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Are You Franchise Material?
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| To become a franchisee, you need to be a leader with good communication skills. Moreover, you should be a hard-working individual who is open to learning new ideas. Besides, you will also need the required money to become a franchisee.
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Key Factors to Franchise Success
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| There are various things, which you are supposed to do in order to find success as a franchisee. You must have the willingness to learn and be prepared to work with others. Being committed to your business and having patience can also bring in the desired results. |
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The collective buying power of a franchise
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| The collective buying power of a franchisor results in getting good discounts for the raw materials. That, in turn, boosts up the profit margin of the franchisees. |
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Maintain a good working relationship with your franchisor
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| A stable relationship is a very important factor in the proper working of a franchise system. Both the franchisor and the franchisee are required to work hard to maintain it. |
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Pros and cons of franchise ownership
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| There are various pros and cons of franchise ownerships. While it’s true that starting a franchise is better than setting up a stand-alone business; it’s equally true that franchise business has its limitations. So, compare both the sides before you start looking for different franchise business for sale offers.
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Asking the Right Questions Before Beginning a Franchise
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| When you are starting a franchise, it pays to play the part of that annoying kid who asks thousand and one questions! But each question should be relevant to find out whether the franchisor actually knows how to franchise. So, ask about its vision and mission statement as well as the training and support you are entitled to get from your franchisor.
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Why Franchising Attracts Women Entrepreneurs
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| Have you ever wondered what it would take to leave the corporate world behind and own your own business? Are you tired of being the go-to girl, a small fish in a big sea, earning money for someone else? Is it time to take charge of your future and really be in control of your destiny? |
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The Uniform Franchise Offering Circular
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| Just How Important is the UFOC?
I started playing golf about 10 years ago and over time have come to love the game. Although technique is a large part of what drives many golfers back to the greens, golf also has a very specific set of rules that define the game and create an equal playing field. The rules spell out how to play, how to keep score and how to determine a winner. |
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The Franchise Timeline
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| Guidelines for how long it should take to open a new franchise.
Susan, a bright, energetic and make believe person, has decided to become a business owner by buying a franchise. She understands that there are many steps to the process and asks me how long it will take before she will be able to open the doors to her business. Figuring she wouldn’t be satisfied if I told her that it could take anywhere from several months to a year or longer, more or less, I came up with the following timeline. |
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How to Buy a Franchise – Step 1
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| What to do before you begin searching for a franchise.
You’ve thought about it for years and you’re finally ready to make the leap into business ownership. It’s time to be your own boss, to be the one in charge of your financial future – your destiny. Because you are a smart woman, you want to avoid making mistakes along the way. You have so many questions: Will you be happy as a franchisee? Can you make the money you need to provide for yourself and your future? What kind of franchise would be best? Where do you even start, with thousands of franchise opportunities available?
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What Do You Need to Pass a Franchisor’s Test?
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| Buying a franchise is a lot like marriage. Two parties enter into a relationship with the expectation of mutual benefit, long-term support and common goals. When entering into marriage, both people spend a great deal of time learning about each other and making sure they are a good match before making the commitment. The same is true for franchising. Both the franchisor and the franchisee gather information about each other and evaluate whether there is a good match. Although it may not be immediately evident, a franchise company is under no obligation to award a franchise to just anyone who can afford the franchise fee. In many cases a franchisor has as much or more at risk when a franchisee fails. |
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How to Evaluate a Franchisor’s Training Program
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| For a woman interested in buying a franchise, evaluating the training a franchise business offers should involve even greater research – after all, this is about your future – not a vacation. |
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Explaining the Differences Between the UFOC and the FDD
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| The new FTC rules have bought smiles in the face of the franchisors and franchisees alike. It has made giving earning claims easier for the franchisors while the franchisees are duly warned whether they have to compete against the franchisor or another franchisee within its demarcated territory. |
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Franchise Industry Reaches out to Veterans
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| The VetFran program is for our glorious soldiers who are looking forward to a healthy civil life. The participation is voluntary and the member businesses offer various discounts to the prospective franchisees. It is one of the most popular programs of IFA. |
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Social networking is an important part of franchise success
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| Social networking by the franchisors and franchisees work at different levels. Some of the social networking sites can be used to connect to the prospective franchisees whereas some websites are used to find new customers and check out the reviews of the products among the users. |
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Big Changes Coming in Franchise UFOC Meet the FDD
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| The UFOC is going to have a major change as per new FTC ruling and will be renamed as FDD. It has to be implemented by July this year. The changes include modification of the name of the items and major alterations in litigation history disclosure. |
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Ways to Obtain Financing to Buy a Franchise
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| Getting the required financing is the first step towards starting a franchise. Some traditional methods are getting financing from one’s own savings, asking for loans from friends, going for bank or SBA loans and one unconventional way is to go for loans from credit-cards. |
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Franchising Continues To be a Safe Way to Go in Troubled Economy
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| There are various areas where franchising scores over stand-alone businesses. First is that there’s a system to follow and that makes getting loans easy for the new players in this field. What’s more, the support system of the franchisor ensures that the person who is starting a franchise doesn’t have to face any problem while running the business alone. |
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10 Things You Should Know About Franchising
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| There are various things you are required to know before deciding to buy a franchise. It includes learning about the company and becoming aware how much you are capable of working for the business.
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Benefits and Responsibilities of Franchise Ownership
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| The benefits and responsibilities of being a franchise owner are vast. Though you get a system of business to start with, but you will be responsible, if any term of the franchise agreement is broken. The support offered by the franchisor will benefit you considerably while starting the franchise. However, it’s your responsibility to ensure that the franchise operation runs smoothly.
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Listen
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| This article gives insight as to why it's important to listen to your Franchisor and/or franchise financing representative. You will also receive a few important tips and some constructive criticism, if you "Listen" |
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Buying Financing a Franchise
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| This article touches base briefly on the best way to find a franchise and gives in depth information about best ways to finance your new franchise. The articles shows you how to weigh some options and gives suggestions to some questions you should ask yourself and institutions dealing with business loans. Provides information on how to get in touch with the author and for services to assist. |
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Evaluate Complaints Against Franchisors Before Signing The Agreement
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| While starting a franchise business, checking out the legal history of the franchisor is a must. Take the help of your franchise attorney to look into any sort of litigation, bankruptcy and out-of-court settlement the company may have experienced. |
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Debunking Franchise Myths
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| We all know the upside to franchising: proven systems, training and support, purchasing power, brand recognition, and lower risk of failure top the list. But before you utter those three little words, "it's all good," take a reality check. Consider this list of common myths surrounding franchising and get the true facts...
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Buying a franchise? Avoid these costly mistakes
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| Buying a franchise? Avoid these costly mistakes.
It takes a lot of money to build a business, and you certainly don't want to waste any. Check this list of 7 costly mistakes to avoid... |
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A Good Business Plan Is Necessary, Even With a Franchise
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| A good business plan is necessary when you are starting a franchise. It will tell your bankers and other lenders you approach for loan about your reasons for pursuing a particular franchise opportunity. Your marketing, operational and financial plans for the franchise business you have bought are also discussed here. |
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Franchisee performance
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| High performing franchisees are vital to the franchisors success. Franchisors need to operate effective support systems to minimise poor network performance. |
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Effective franchise marketing
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| Marketing development strategies for franchise systems. |
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Buying a franchise what to consider
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| There is more to making a decision to buy a franchise than to evaluate the proposition. Considerations on how to manage the options available to you. |
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Qualities to Look for in a Franchisor
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| The franchisor is the person who helps you to succeed as a franchisee. So, look for leadership qualities, experience and integrity while searching for a franchisor. |
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Find the Right Franchise Opportunity for You
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| Choosing the right franchising opportunity is essential. There are various factors to look for such as your interests and financial condition, the market for the product and the franchisors themselves. Moreover, you have to see how old the company is and also the support it is providing. |
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Buying A Franchise
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| Buying a franchise can be a life changing experience. There are many good reasons to pursue your dream of owning a successful franchise. For starters when you buy a franchise you are buying a proven system. Buying a franchise comes with the advantage of knowing that the business has been successful in other locations. The idea and process of running this business has already been proven. Therefore the learning curve in operating the business can be virtually eliminated. |
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How Much Does a Franchise Cost
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| How much does a franchise cost? Of course the cost of obtaining and starting a franchise depends on several variables. For instance, the type of industry, size and location are some of the differentiating factors. However, there are some basics that you could keep in mind if you are contemplating becoming a franchisee. |
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Should Franchises be Incorporated?
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| Purchasing a franchise can be one of the most exhilarating ventures a small business owner
can experience. There are an infinite number of issues that franchisees must consider - what kind of franchise to purchase, where to locate, where to find financing, how to build the space, to name just a few. One of the last questions that a franchisee often thinks of is - what legal form should a franchise operate as? This article will review the considerations regarding the selection of business legal form with the franchise in mind and whether franchisors should consider requiring all franchisees to incorporate.
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Explaining the UFOC
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| The UFOC should be presented at the time the franchisee is asking for information. It sets the guidelines, which the franchisee and the franchisor are supposed to follow. |
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Make the Most of the Franchisee/Franchisor Relationship
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| A healthy relationship between the franchisor and franchisee is essential in running a franchising business successfully and the relationship rests on mutual trust and good communication.
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Why You Should Work With a Franchise Consultant
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| A franchise consultant will make your journey to become a successful franchisee smoother; he will help you to carry out all the necessary research works and also assist you in selecting the right franchising company.
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When Net Worth Is Important to a Franchisor and How To Overcome It
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| A prospective franchisee’s application will depend considerably on his net worth. While it is a must, real good franchisor make an exception for the candidates who have other skills such as experience in the field of management or clean credit history. Franchisors that put net worth as the first criteria of selection often end up taking in bad candidates. |
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Make the Most of the Franchise Agreement
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| The market has been studied, the category chosen and now you're ready to sign the paperwork to purchase a franchise. Here's some of what you'll encounter in the franchise agreement |
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Franchising Is a Better Path to Success than Opening a StandAlone Business
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| The market seems ripe for franchises to continue to grow. Here's why it's a good business move right now. |
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Make the most of your franchisor's marketing plan
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| One of the things local franchisees in most cases is marketing assistance from the franchisor. The franchisor has built its marketing message on its products or services and knows how best to position the company. That said, it's up to the franchisee to make sure the marketing plan works in his or her area. |
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FAQ's for Starting a Franchise
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Here are 11 commonly asked questions that are asked by potential franchise candidates. Note that there are no standard answers for any question. Answers can vary dramatically from one franchisor to another. Please use this as a basic guide.
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Franchisee/Franchisor Relationship Requires Mutual Trust, Respect
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| Trust is the foundation of any good franchisor/franchisee relationship. The franchisee is entrusting his livelihood to the franchisor. The franchisor, in turn, is trusting the franchisee to protect the reputation of the franchise brand. |
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Landing That First Franchisee
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| For businesses wanting to get into franchising, finding the right first franchisee can feel like getting married. You've got to make sure your goals are compatible and that you like and respect each other. There are several other things that you should look for as well to make sure that you're in a long-term relationship |
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Why Owning a Franchise is a Better Way to Business Success
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| Franchising has many benefits over stand-alone businesses, including training, support and purchasing. It's a great way for people who are not great risk-takers can own their own business. And it's a proven strategy that usually works better than going out on your own |
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