Gone are the days when brands could just broadcast their message and reach their audience. They now need a good story to break through the noise.
With a low cost franchise, you will typically be looking at the opposite end of cost factors than the higher-priced category. Items such as less employees, less physical space needed (sometimes none at all!) and less overhead to get started are all valued features of lower-cost franchises.
The biggest error in planning may not be spreadsheet calculation error. Or cost estimation. It is most often missed assumptions about the market, the competition, the speed of adoption, or other critical metrics you've researched, or selected, or even just guessed at to create your plan.
During your franchise search, you've probably seen photos of long lines at grand openings and stories of people driving from far away when a new franchise location opened just to get a taste of their products.
Guaranteed lifelong employment and the comfortable pensions enjoyed by our parents and grandparents are rapidly becoming a thing of the past. The once-risky path of entrepreneurship seems increasingly less fraught with peril when compared with the ever-present prospect of layoffs faced by regular employees.
One of the first challenges new entrepreneurs face is finding a way to finance their businesses. You have a great business idea but little money to implement it; and, like every entrepreneur before you, you try to scrounge enough money to launch your startup—your dream.
Color plays an important role in our daily lives, and over time, we've developed specific emotional reactions to different colors. These reactions have been shaped since birth and can vary based on geographical location, age, and gender.
Networking can really help grow your business—including a franchise business. The name recognition your franchise already has can help you gain attention and clout more easily in organizations like the Chamber of Commerce or the Rotary Club, so it makes sense to take advantage of opportunities to speak or to head up committees in these groups.
Moving into a new office can be exciting, especially if you are opening a new business or expanding your organization. The problem is that the prospect of hiring more talented people and bringing in more business might take your attention away from services that should be in place for a successful business environment.
One thing that keeps a potentially great entrepreneur or salesperson from succeeding is the word "no." Hearing that word endlessly when just starting out can be debilitating—but, not necessarily for the reason we might think.