Can You Build a Franchise Without Employees?
Employees are high on most lists of business owners’ concerns, whether they own a franchise business or some other kind of company. Look at all the issues that come with employees: Recruiting qualified workers often involves placing and paying for ads, maintaining “Careers” pages at a website, or actively networking…
Defining Success as a Franchisee
You’re planning to be a successful franchisee and to run a successful franchise. How will you know? Without a clear definition of success, you may not recognize it when you see it. Perhaps more importantly, how will you get from here to there? Without a clear definition of success, you…
How Franchises Use Habits
The Power of Habit, by Charles Duhigg, reports on recent research on habits in humans. It turns out that the basal ganglia, a primitive part of the brain, controls habitual behavior. Human beings following a habit are just like rats who’ve learned to get through a maze quickly and find…
Seasonal Stalking a Franchise
Halloween is past and the elections are over, so we’re just at the right time of the year to get some good information about how business is going… just by looking. When you consider a franchise, you always want to know how much franchisees are earning, how solid the business…
Can You Run a Franchise As An Absentee Owner?
Quite a few franchise businesses can be run either as an absentee or executive owner, or with a part-time commitment. So, if you currently have a full-time job, would it make sense to keep your day job and work your franchise on the side until it’s earning well enough to…
The One Question You Must Ask a Franchisor
There are plenty of questions you should ask before you decide on a franchise business. But there’s one that would-be franchisees often fail to ask — and yet it can be one of the most informative. Here it is: “Why did these franchises close?” You’ll have plenty of opportunity to…
Franchise Agreement Clauses to Watch Out For
Contracts are important. They protect you and the franchisor in whose business opportunity you invest, and they let you know exactly what you’re in for… if you read them. In fact, not only should you read the contract you sign for your franchise business, but you should also consider having…
Franchise Business vs. A Job
Working for yourself has some significant advantages: business owners tend to earn more, enjoy their jobs more, and One of the things that keeps people from taking the plunge into business ownership is a fear of insecurity. If you work for someone else, they figure, you just go to work…
Health Care Franchise Opportunities
Healthcare in America is changing: As the Baby Boomers age, they need more care, and they often choose to have health care at home. Home health care for seniors is currently one of the highest-profit franchise areas. As insurance coverage changes, more people have access to health care — while…
Investing in an Existing Franchise
In a sense, all franchise business opportunities are existing businesses. No one is going to believe you if you say that you’re opening a Little Caesar’s or 7 Eleven start-up; the whole point of a franchise is that the business is already successful. But there is a difference between starting…