Buying a Franchise
The Franchise Supply Chain
When you think about your franchise investment, you may see yourself welcoming customers into your franchise or relaxing on the boat your franchise business will buy you. You should also be thinking about your supply chain. The supply chain of your franchise business includes every step of the journey from…
Franchise Group Purchasing: Plus or Minus?
When you’re looking for the best franchise opportunity, one of the differences you’ll notice among franchisors is the question of suppliers. Some franchises get great rates from vendors through group purchasing arrangements, some have rules about which companies franchisees can buy from, and some sell directly to franchisees. You…
Franchises Handling Change: Pizza Hut vs. McDonald’s
Both Pizza Hut and McDonald’s made big changes in their menus recently. And both have seen falling revenue: Pizza Hut’s 2014 figures were down 5% compared with 2012, and McDonald’s was down 2%. Pizza Hut decided to go trendy with Flavors of Now, offering gluten-free pizza, Peruvian peppers, and spiral-shaped…
Franchise Success: Who’s Responsible?
As you research franchise business opportunities, you have some specific questions in mind. Some may be unique to you, but nearly everyone wonders, “Will I succeed? Will I make money? How much will I make?” Success and security are on your mind because you’re making an investment. You’re choosing…
Why Do You Want to Buy a Franchise?
Why do you want to buy a franchise? What are your goals? A surprising number of people don’t have a particular goal. They want to “try it out” or they’ve always dreamed of owning a business or they want to be their own boss. But a new book, Secrets of…
How Will Franchising Affect Your Family?
When you’re getting ready to make your franchise business investment, it makes sense to think about how your life will change once you’re a franchisee. But you may also want to think about how your family’s lives will change. Because they will. Changes aren’t necessarily a bad thing, but even…
Be Confident of Your Franchise Investment
If you watch the law blogs, you’ll see that giant companies like Google, Walmart, and Apple spend a lot of time in court. It should come as no surprise that large franchise corporations also spend a lot of time in court, often being sued by their own franchisees. But a…
Watch Out For The “7 Wastes” – Keep It Lean
Lean manufacturing has been transformational first for factories and then for all kinds of organizations, not only in Japan where the system began, but around the world. The franchise system you will learn when you invest in a franchise is probably already intrinsically lean, since your franchisor has been watching…
Franchisees Face Prison
A group of 7-11 franchisees have been sentenced — in one case to to seven years in prison — and forfeiture of their businesses and personal assets over violations of laws relating to workers. This follows the recent heavy fines for pizza franchise owners in the Northeast, specifically for labor…
Is Your Franchise Business Special?
The whole idea behind a franchise is to apply a specific business system to a business in a new location. You’ll get a system that works, marketing plans and support that work, and day to day operations that work. In return, the franchisor gets fees and royalties. But what if…
