When searching for a business to own that you are sincerely interested in, look deeper than the product. While demand for the product or service is an important piece of the successful business formula, it is not what the business owner is going to live, eat and breathe every day…it’s the franchise model of the business. How […]
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Recession-Proof Businesses
The year 2009 marked the end of a global recession that hit America hard. Most people believe that starting a business during a recession is just as good as throwing your money into the sea. But, there are still recession proof businesses that can do well during economic downturns, also known as counter-cyclical businesses. Many […]
Steps to Franchise a Business
Today’s Tip is on how to franchise a business. If you have a successful business and have determined that it is “franchise-able” Franchise Solutions has the next steps to take. By “franchise-able” we mean you have evaluated the business’s potential and found that it can be duplicated well. In addition, you have deemed your business offers beneficial […]
Interviewing Franchisees
Buying a franchise is a big, life-changing decision and is cause for proper research. After all, you’re not just investing your money; you’re investing your time, talent and skills. You might also be investing your blood, sweat and tears. Due Diligence Be sure to conduct what those in the franchise industry call “due diligence.” The […]
Tips When Looking for a Good Franchise
I’ve been asked “How to spot a good franchise” 100’s of times in my 20 years in franchising. The answer has never changed in my mind… it depends… Check the Financial Performance You can certainly determine the ‘health’ of any franchise company by reviewing the legal disclosures in its Franchise Disclosure Document or FDD. After verifying you meet […]
12 Top Trends in Franchising’s Restaurant Industry
Restaurant franchises had their second biggest month of the year and are responsible for adding two-thirds of the 48,600 jobs created in December 2015. Continuing with the food industry’s positive momentum, here is a specific look at franchising trends in the food and restaurant industry for 2016. According to the SVP of Operations at Applebee’s […]
Multi-Unit Franchise Ownership
While driving down the road, have you noticed there are more of the same franchises popping up in surrounding areas? Perhaps you’ve seen three Dunkin Donuts within a 10 mile radius. These are likely to be owned by a multi-unit franchisee. What is Multi-Unit Franchise Ownership? A multi-unit franchise involves a franchise agreement which provides […]
Top 5 Reasons to Buy a Franchise
Ah, the life cycle of a career; it is interesting to see the various paths people take. The bright-eyed graduate: Entering the world of employment The professionally growing employee: Harnessing and developing skills and maybe burning the midnight oil The relocated employee: Trying something new and in a different environment The downsized, unemployed or employee […]
10 Signs You Should Own a Business or Franchise
Being your own boss takes a special kind of person. We asked several industry professionals what they thought were must-have traits to successfully own a business opportunity or franchise and here’s what they came up with: Need for Speed. Business owners have a driving passion to do or make something. They could eat, sleep and […]
Interview 6-8 Franchisees During the Due Diligence Process
Interviewing people who have purchased the system before you is really the mid-way point of the due diligence process when buying a franchise and, is one of the most important parts of the process.
