Posts Tagged ‘Franchisee’
What Multi-Brand Franchise Ownership Actually Looks Like
Whether you are looking to expand your franchise portfolio or looking to start your first franchise venture, multi-brand franchise ownership could be an option for you. Explore what that means—and what it entails—for multi-brand franchise owners. Multi-Brand Franchise Ownership Multi-brand franchise ownership is exactly what it sounds like: owning franchises of two or more different…
Read MoreDaily Financials That Franchisees Need to Keep Their Eye On
Although there can be some complex aspects of financially managing your own business (we’re looking at you, tax season), the financial information franchise owners need to pay attention to every day is pretty simple. At the end of each day, you should know the money that came in, the money that went out, and how close your…
Read MoreWhat Do I Need to Know Before I Buy a Franchise?
Buying a franchise is a complex, long-term investment that has the potential to change your life. If your business succeeds, you may never have to work for someone else again. If it doesn’t, you could lose your investment, and you could find yourself bound by strict non-competition covenants that prevent you from using what you’ve…
Read MoreWhy Buy a Franchise? Three Reasons
You think you’re ready to take the plunge into business ownership, and then the big question hits you… “Do I start my own business from scratch, or do I go with a business template, such as a franchise?” This is a question that may not have a set answer for everyone. First, you must decide…
Read MoreThe Right Franchise for Your Climate
Once you’ve decided to become a franchisee, you have to choose a franchise to invest in. There are many factors to take into account. How comprehensive is the training program? What is the required investment? What are the pros and cons of the business model? In addition to these questions, it’s important to consider where your…
Read More6 Reasons Franchise Businesses Fail and How to Avoid Them
As an investment and a point of personal pride, you want your franchise business to succeed. So does your franchisor, your customers, and your employees. So, as you begin your franchise journey, let’s look at some reasons franchises fail and what you can do to avoid them. 1) Lack of Capital We’re putting this right…
Read MoreHow to Market Your Franchised Business Locally
You did it! You’re a franchise business owner. And while one of the reasons you decided to franchise was to own a business with a proven system and brand recognition, including national advertising campaigns, you still have to think about marketing in your local community. Isn’t That What the Brand Fund Is For? Franchises didn’t…
Read MoreTraits of Successful Franchise Owners
Owning a franchise is the best way to become your own boss, but not all franchise owners are equal. Here are 10 things successful franchise owners have in common. If you are looking to make a plunge into the exciting and often challenging world of franchise ownership, it doesn’t hurt to learn from the crème de…
Read MoreFranchising Basics: Understanding Franchise Territories
While researching franchise opportunities, you’ll come across many using verbiage similar to “ask about exclusive territories” or “protected territories available.” It’s easy to jump to the conclusion that “territory” means no other franchisees in your franchise system can open a location in your exclusive/protected geographic area. Unfortunately, that’s not always the case. Although “exclusive” and…
Read MoreThe Rise of Multi-Unit Franchise Ownership
The franchise industry is seeing rapid growth in multi-unit franchising, and it’s a trend that won’t be going anywhere any time soon. The biggest reason for this is multi-unit franchising provides an opportunity for tremendous (and stable) growth and wealth creation for all parties involved—the brand, franchisor and franchisee. The International Franchise Association (IFA) says multi-unit operators are changing…
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