There’s safety in numbers. Right? Choosing to franchise with a business partner can seem like a safe choice. There’s someone to contribute to the franchise investment, someone to share operational responsibilities with plus an extra perspective and skillset. Business partners can make franchising less risky but they can also add a layer of interpersonal drama. Sticky Situations […]
Bill Bradley
What Life as a Franchisee Will REALLY Be Like
Being a franchisee will look a little different depending on the franchise, your number of units and your level of operational involvement. But there are some similarities for most franchisees who invest in brick-and-mortar business models. Being a franchisee means being a business owner. The autonomy provided by the franchisee lifestyle also requires hard work. Before the […]
When to Follow Franchise Trends and When to Avoid Them
A quick internet search of “franchise trends” will turn up hundreds of results about the “next big thing” in the world of franchising. Is it a good idea for you to jump on those trends? In addition to the types of franchises on the rise, business models and funding sources are also subject to trends. […]
The 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 […]
Millennials and Franchising: Opportunities for Younger Franchisees
First things first, who are millennials? Well, it depends on who you ask. Many reputable publications are in disagreement about an exact year but Pew Research says millennials were born between 1981 and 1996. They are the largest and most diverse living generation. We know that millennials generally have more education, less money, and more debt than […]
Loving the Product Doesn’t Necessarily Mean Loving the Business
One way to approach your franchise search is to focus on the businesses that you personally enjoy. Maybe it’s the pizza you can’t get enough of or the gym that keeps you motivated. You can easily whittle down your list of potential franchises by paying attention to your own buying habits. But thinking like a […]
Finding the Right Location for Your Franchise
The real estate adage “Location. Location. Location.” is just as true for businesses as it is for homes. The location of your business affects everything from customer access to supplier relations to how much you enjoy the daily commute. With that importance in mind, let’s look at some aspects to consider when choosing the right […]
6 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 […]
How 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 […]
What You Need to Know About Buying an Existing Franchise
Purchasing an existing franchise is what’s known as a franchise resale. Many entrepreneurs are attracted to these types of sales because you can buy into the franchise for a lower price than if you were to start from scratch with the brand. Although it’s easy to get excited to inherit someone else’s good fortune, there’s […]
