Buying a Franchise
How Does That Franchise Handle Complaints?
What are these people talking about? “takes all your money, sues you for more, and leaves you homeless and penniless” “a narcissistic dictatorship that is chasing the almighty dollar into purgatory” “They don’t want to consider anything on your behalf!!! NOT A TINY LITTLE BIT!!!” It may sound as though…
To Partner Or Not to Partner?
There’s safety in numbers. Right? Choosing to franchise with a business partner can seem like a safe choice. There’s someone to contribute to the franchise investment, someone to share operational responsibilities with plus an extra perspective and skillset. Business partners can make franchising less risky but they can also add…
What Life as a Franchisee Will REALLY Be Like
Being a franchisee will look a little different depending on the franchise, your number of units and your level of operational involvement. But there are some similarities for most franchisees who invest in brick-and-mortar business models. Being a franchisee means being a business owner. The autonomy provided by the franchisee…
Finding the Right Location for Your Franchise
The real estate adage “Location. Location. Location.” is just as true for businesses as it is for homes. The location of your business affects everything from customer access to supplier relations to how much you enjoy the daily commute. With that importance in mind, let’s look at some aspects to…
What You Need to Know About Buying an Existing Franchise
Purchasing an existing franchise is what’s known as a franchise resale. Many entrepreneurs are attracted to these types of sales because you can buy into the franchise for a lower price than if you were to start from scratch with the brand. Although it’s easy to get excited to inherit…
How to Choose a Franchise Consultant
There are thousands of franchise systems to choose from. It’s a big decision that can easily become overwhelming. That’s why many people turn to franchise consultants, also known as franchise brokers, who act as the middleman between you and a number of hand-selected franchisors. Their job is to help you…
Buying a Franchise: 3 Benefits of Ownership
More than 30 percent of small businesses fail within the first five years of being open. This is largely due to the fact that start-up business owners have to figure out how to effectively run their business along the way. That’s why many entrepreneurs turn to franchising; it offers the…
6 Mistakes to Avoid as a First-Time Franchisee
You finally found the golden franchise opportunity right for you. It’s exhilarating, especially since you spent so much time looking for the perfect fit. There’s so much to look forward to. But be forewarned not to let the excitement of owning a business blind you from the reality of it…
The Basics of Franchising: What You Need to Know
Franchising is when a franchisor grants a franchisee the rights to sell their products and/or services. The two enter an agreement that allows the franchisee to use the franchisor’s methods, operations, systems, brand name and other intellectual property to grow their business. Franchisors often provide ongoing training to support the…
Franchise vs. Startup: What’s Your Entrepreneurial Journey?
Owning your own business can be an exciting, liberating and lucrative experience. But it’s a big change to go from corporate employee to head-honcho, so it’s important to know what you’re getting into before you get started. And it all depends on the kind of business you want to own….