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 […]
Franchise Center
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 […]
How to Choose a Franchise Consultant
There are thousands of franchise systems to choose from. It’s a big decision that can easily become overwhelming. That’s why many people turn to franchise consultants, also known as franchise brokers, who act as the middleman between you and a number of hand-selected franchisors. Their job is to help you narrow down your choices to franchise […]
Traits 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 […]
2019 Franchising Trends: The State of Franchising
The franchise space is experiencing rapid expansion. Consumer trends are shifting while technological advances are pushing franchisor boundaries—so much so, your friendly experts at America’s Best Franchises say it’s safe to expect continued growth in the franchising industry over the next few years. In the meantime, let’s take a look at the state of franchising […]
Franchise or Business Opportunity?
As you do your initial research to own your own business you will discover that the majority of businesses fall into one of two business formats. A business opportunity or a franchise. Knowing the differences between these two formats before investing is very important. Businesses often cost less than a franchise but there are pros and cons […]
Franchise Succession Planning: What’s Your Exit Strategy?
Planning to exit a franchise system is just as important as choosing to be part of one. While passing down your business to a loved one can strengthen your relationship, it can also be a pretty complicated process. To make the process even more complex, most franchisors must approve your successor. William Slater Vincent, a […]
Love the Franchise Model, Not the Product
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 […]
Franchising 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 […]
