Buying a Franchise
Choosing a Franchise Business Opportunity: Love or Money?
In his book Street Smarts: An All-Purpose Tool Kit for Entreprenuers, Norm Brodsky said people ask the wrong questions when they’re comparing business opportunities: I’m constantly hearing from people who have ten different business ideas they’re considering at the same time. They want to know which one I think is…
Just One Franchise: NZone
Remember those long summer days spent running and playing outdoors? Many of today’s kids won’t have those memories. According to an article from the National Wildlife Federation, children today spend more than seven hours in front of a screen and less than 30 minutes outside playing. It may be one…
Are Franchise Owners Business Owners?
A Forbes article listed 13 mistakes new franchisees make, and one of them was investing in a franchise business in order to be your own boss. “Franchising is based on conformity and uniformity,” the author said, “not freedom.” One of the great advantages of a franchise business is that you…
How Does that Franchise Handle Upgrades?
You’ve chosen a franchise business opportunity, let’s say, and you can tell it will be a great fit for you. The business systems seem ideal, the offerings are just what your community needs, and you can easily see yourself doing exactly what the franchisor describes as the daily routine in…
Choosing a Franchise: Quality Control
McDonald’s is the quintessential franchise example for many reasons, but one of the most important has to be the concept of standardization. Travelers could be sure of what they were getting at McDonald’s, so the sight of the Golden Arches during a long road trip could be a relief. One…
Just One Franchise: Vom Fass
Named German Retail Franchise of the Year in 2012, Vom Fass brings the world’s largest selection of oils, vinegars, spirits, liqueurs, and wine to American foodies through franchises. Johannes Kiderlen transformed his father’s business into a franchise focusing solely on these four products in 1994, and now the franchise is…
Choosing a Franchise: Trust
The goal in franchising, for many people, is to be able to follow a franchisor’s business model and see results. Instead of doing research and wasting money on trial and error, people figure, they can follow the franchisor’s system and bypass the hardest parts of starting a business. This makes…
Franchise Business’s Profit and Loss
When you’re searching for the right franchise, you’ll have lots of documents to read, plenty of people to talk to, and advice from all sides. One piece of the puzzle that many future franchisees overlook is the business profit and loss statement (P&L) from your potential franchisor. A P&L lists…
Just One Franchise: Rytech
They say April showers bring May flowers but spring showers can also bring water damage and headaches for homeowners and insurance companies. Water damage was the second most popular insurance claim between 2004 and 2008. Homeowners are seven times more likely to experience water damage than fire damage and six…
Do You Want to Be a Ground-floor Franchisee?
Should you franchise with an established brand or a newcomer? If you’ve found the perfect franchise business opportunity, you may not care whether it has been around for two years or for a century; if you’re still scouting around, this might be a factor that helps you decide. Established franchises…
