Franchisor Expectations
How to Be a Successful Franchise Owner
If you want to start your own business but don’t want to start from scratch, franchising could be the way to go. Owning a franchise means you get to be your own boss and run your own business but with the support and backing of an established brand and business…
Why Entrepreneurs Decide to Buy a Franchise vs. Launching a Startup
Buying a franchise can be an exciting, liberating, and lucrative experience. But it’s still a big change to go from an enterprising employee to owning your own business, no matter what franchise opportunity you’re interested in. That’s why it’s important to know what you’re getting into before you get started….
Why You Should Hire a Franchise Attorney
You did it! You finally found the golden franchise opportunity perfect for you. But not so fast; before you make it official, there’s one crucial thing you have to do first. That’s protect yourself legally, and the only way to do that is to hire an experienced franchise attorney. Many…
6 Must-Read Books Before Choosing a Franchise Opportunity
So, you’re browsing franchise opportunities and quickly find yourself overwhelmed by all the choices. Who would blame you? There are thousands of franchise opportunities spanning more than 100 industries in the United States. We get it. Not to mention, the stack of franchise brochures and Franchise Disclosure Documents (FDD) piling…
Franchise Disclosure Document (FDD): What You Need to Know
Prospective franchisees typically receive a Franchise Disclosure Document after requesting more information about a franchise or during the Discovery Day process. But this 100- to 200-page legal document is more than just an intimidating pile of papers; it can mean the difference between your success or failure as a franchise…
Franchise Funding: Preparing to Finance Your Franchise
So, you’ve identified the golden franchise opportunity that suits your skill set and needs. What’s next? Funding. Two significant expenses to consider are the initial franchise fee and ongoing royalties. The franchise fee is the nonrefundable, one-time price to operate a franchise using the franchisor’s model. You usually have the…
Choosing a Franchise Opportunity: What to Ask a Franchisor
Choosing a franchise opportunity is much like buying a new car; it’s a big investment that requires its fair share of research. Although a two-seater Porsche with all the upgrades is everything you’ve always dreamed, it likely won’t have enough room for your family of five. And while an SUV…
4 Screens Potential Franchise Investors Must Pass
You’re planning to invest in a franchise, and you’re probably shopping around. You’re checking out the various options, thinking about your personal goals and preferences, talking with other franchisees — really scoping out all the businesses you’re considering. That’s what you should be doing. Getting plenty of information helps you…
Crowdsourcing Franchisee Compliance Checks
Domino’s (formerly Domino’s Pizza) has offered a chance to win a year of free pizza to people who will post Instagram photos of “Domino’s Pizza” signs with their locations, using the hashtag #logoinformants. What’s going on? First, Domino’s has created a clever social media campaign. Reaching Instagram users with the…
How Much Time Does It Take To Own A Franchise?
When you think about owning your franchise business, what are you imagining? You work the same 40 hours each week that you do now. Those hours include tasks like visioning, networking, taking people to lunch, and providing high-level empowerment for your staff. You set your own hours, opening and closing…