Buying a Franchise
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…
Does the Franchise You’re Considering Protect Its Brand?
Back when the U.S. highway system was being built, restaurants along the roadside had a wonderful opportunity — and a serious problem. Some travelers love finding that surprising little place off the beaten path, but plenty like to make a quick stop where they know what they’ll get, and head…
Franchise Business and Risk
Franchise businesses involve risk, just as all businesses do. While there is wide variation in the numbers produced by studies comparing franchise failure rates with those of independent businesses, one thing you can say for sure: lots of small businesses fail, including franchises. The top reasons for failure are not…
Tech Franchise Opportunities
If you have a problem with your car, you call a mechanic. If you’re not satisfied with your lawn, you can call a lawn service. But when business owners or private individuals have a problem with their technology, they often have no idea whom to call. A recent survey of…
Think Twice about Marijuana Franchise Opportunities
Marijuana is completely illegal in 23 states and three U.S. territories. It is fully legalized in four states, and elsewhere it’s complicated. That’s enough legal flexibility that cannabis franchises are starting up. Several different cannabis-related companies, from e-commerce sites to herbal wellness centers, have announced the availability of franchise business…
Is It Time for Change in the Franchise Regulatory System?
Australia recently revamped their franchise system, and Canada has made some changes, too. European regulations change, but the U.S. hasn’t made many changes at all in decades. Franchise lawyer Rupert M. Barkoff wrote in the New York Law Journal that U.S. franchising law has essentially been static since 1979. There…
The Franchise Disclosure Document and You
The Franchise Disclosure Document is a standard document that serves as the basis for your franchise business contract. It also allows you to compare franchise business opportunities more easily, because every franchisor must fill out the same basic information. But it can also be an overwhelming documents, and it is…
MinorityFran/DiversityFran Business Opportunities
Minority-owned businesses account for over 15% of all businesses in the U.S., producing $591 billion in revenues each year and employing 5.9 million workers. When looking specifically at franchise businesses, though, the IFA says that more than 20% of all franchise businesses in the U.S. are minority-owned. For food-related franchise…