Choosing the Right Franchise
Considering a Franchise? Consider Sales Tax!
One of the advantages some franchise business opportunities tout is “No sales tax!” This typically shows up right along with home-based, no or few employees, no inventory, and low overhead as an advantage for service-oriented businesses like gyms, salons, and business-to-business professional services. This is based on the traditional distinction…
Why YOU Should Own Your Own Business
I have been self-employeed for more than 20 years. In each of those 20+ years, as an owner of a business, I truly had no idea what each year would bring in the way of financial success, peace of mind, security, or whatever emotional well-being I was searching for. What…
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…
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…
What Do Franchise Turnover Rates In Business Mean?
Item #20 of the Franchise Disclosure Document gives the FTR percentage, or Franchise Turnover Rate. This item can really bring up the problem some statisticians call the Memorial Day issue: looking at a number out of context doesn’t tell you much. The problem is named for a tradition many local…
Lessons from UPS and The Hagan Brothers
A legal battle is heating up between UPS and two brothers who are UPS Store franchisees. The combatants are suing and countersuing and accusing each other of all kinds of illegal and breach-of-contract behavior. While it remains to be seen how this case will play out, there are a few…
Employee Retention in a Franchise Business
When you’re selecting a franchise, you might think about your possible income, how much the business appeals to you personally, and what each franchise business opportunity’s chances of success might be in your hometown. You should also consider day to day management, and that includes hiring and retaining good workers….
Future Franchisees, Do You Shoot from the Hip?
Are you the plan-ahead kind? Do you like to know just what is coming up and when? Or are you the kind who likes surprises — the fly by the seat of your pants, shoot from the hip type? There are franchise business opportunities for both kinds of people. In…
Tax Franchise Season?
Is it too early to think about tax season? It’s too early to file 2013 taxes, but it’s not too early to think about taking advantage of tax-related business opportunities. If you plan to serve next year’s taxpayers’ filing needs, this is exactly the time to get started. It takes…
Is One Product Enough for a Franchise Business?
Is selling a single product a worthwhile approach for a business? There are certainly two sides to this question. If you’re selling computer software and offer only one product, you can only sell one product to each customer. If a customer is happy with your product, they can’t come back…