Seasonal Franchises – A Good Thing?
We’ve seen toy stores that made 90% of the year’s revenue in the run-up to Christmas, wedding services that were busy all summer and scraped along through the winter, and tax services that didn’t even stay open outside of tax season. If you want a full-time income throughout the year,…
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…
Get the Most from Franchise Training
One of the benefits you get in exchange for your franchise business investment is training. This is a very valuable part of the package. The Small Business Administration lists lack of knowledge and experience as a top cause of business failure. Sometimes this is because the business owner is…
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…
Franchise Business as a Time Machine
At a recent start up event in her community, Katie was the only person who raised her hand when a certain question was asked, and it was a surprise for her. Start-up events are becoming more and more popular in communities across the nation. These events, which range from meet-ups…
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…
Who Was the First Franchisor?
The father of modern franchising was probably Isaac Singer, who made practical sewing machines in the 1800s. He had a couple of problems with his machines. First, while people were excited about sewing machines, they couldn’t use them without training, so the machines weren’t exactly jumping off the shelves in…
SBA Reviews Franchise Loan Guidelines
There has been quite a bit of controversy recently around the question of whether franchisees are big businesses or small ones. Much of the debate has centered around the question of whether franchisees have to follow laws about employees as though they were multimillion dollar corporations, as some franchisors are,…