Franchisors approach online marketing in many different ways. How can a franchisee get the most from online marketing? Make sure, when you choose your franchise business opportunity, that you have a plan for online marketing—and that the franchise you choose works with that plan.
McDonald’s is facing a lawsuit which the franchise industry needs to watch. Workers at McDonald’s are suing the franchisor, not franchisees, for employment issues. In these suits, they argue that McDonald’s corporate and franchisees are joint employers and act as a single unit.
If you’re out of work but not quite ready to retire, if you’ve been bought out with an early retirement plan, or you’re almost ready to retire and your retirement savings aren’t where they need to be, you have an alternative.
Many franchise business opportunities point to their growth as a sign of success. Statements about big numbers of franchisees who are signing on to open locations do seem promising—but should you judge a franchise based on growth?
Information on the financial health of a franchisor can be tricky to obtain, depending on the company. If they are publically traded, you can check into financial health records such as financial statements.
When comparing franchise brands, look at who plays a role in the marketing of the franchise and where franchisee fit into it. See whether the company is responding to changes in consumer behavior and preferences, or sticking with tried and true even when it’s no longer working. You might discover something very important to your decisions.
You’ll see the word “turnkey” on a lot of franchise business opportunity materials, in phrases like “turnkey franchises” to “turnkey marketing.” Not all franchisors mean the same thing by this word, though.
Sometimes it is better to use an investing partner than a bank to get the capital needed for a business. While many people think that franchising requires bank loans, there are other alternatives for financing your franchise, including investors.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.