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…
Franchise Minimum Wage Update
We’ve been following the legal issues around minimum wage laws and how they’ll affect franchisees for some time, but they’ve been abstract up until now. On April 1st, just a few weeks from now, Seattle’s minimum wage rise will go into effect. In between then and now, there will be…
New Survey of Franchisors
Online marketing leader Yodle’s new survey of franchisors provides some insights into what franchisors want for those who want to become franchisees. What franchisors want? That may not be top of mind for you as you look for the best franchise business opportunity. You are probably focused on what you…
Connecting Your Skills with a Franchise Opportunity
Often people seeking a franchise business look for something similar to what they’ve been doing. You’ve got experience with accounting so you choose a tax preparation franchise, you know about cars so you pick a muffler outfit, or you love dogs so you choose a pet grooming franchise. There’s nothing…
Can You Bootstrap a Franchise Business?
The expression started out as “pulling yourself up by your bootstraps” — an impossible thing to do, so in the 19th century it meant a tall tale or an impossible claim. In the 1920s, it gained the meaning of succeeding by one’s own efforts or being a self-made man. By…
What You Can Get out of a Franchise Business
Owning a franchise business is different from owning an individual start up business in a number of ways. One of the clearest is the end game. Your franchise agreement is for a specific length of time. An independent start up may hope to be bought out by some deep-pocketed competitor…
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…
Franchise Business Opportunity Promotions
Right now, 7-Eleven is offering certain franchise business opportunities with an amazing promotion — they’re waiving the franchise fee. That can mean a savings of tens of thousands of dollars for qualified franchisees. It’s not long since TCBY and Mrs. Fields were offering a BOGO: both franchises for the initial…
Coping with Franchise Changes
Another set of franchisees has decided to sue their franchisor. In this case, the franchisor has changed hands several times in the past years and the new owner — an equity holding company — has made a lot of changes. Here’s a sampling, from the point of view of the…
Franchise Turnover Rates
We’ve explained turnover rates before. However, a new article on the franchise industry asks whether the industry as a whole has a turnover rate problem… and suggests that there are some franchisors that are skewing the numbers. A franchise’s turnover rate is the percentage of franchise locations that close in…