Multi-unit franchising—that is, investing in more than one franchise location at the same time—is becoming a popular approach to franchising, with franchisees and with franchisors.
Bill Bradley
Why Do You Want to Buy a Franchise?
Why do you want to buy a franchise? What are your goals? A surprising number of people don’t have a particular goal. They want to “try it out” or they’ve always dreamed of owning a business or they want to be their own boss.
How Will Franchising Affect Your Family?
When you’re getting ready to make your franchise business investment, it makes sense to think about how your life will change once you’re a franchisee. But you may also want to think about how your family’s lives will change.
Seasonal Franchises: A Good Thing?
We’ve seen toy stores that made 90% of the year’s revenue in the run-up to Christmas, wedding services that were busy all summer and scraped along through the winter, and tax services that didn’t even stay open outside of tax season.
Get the Most from Franchise Training
One of the benefits you get in exchange for your franchise business investment is training. This is a very valuable part of the package.
Franchise Business and Risk
Choosing a franchise involves putting in money as well as time, while being hired does not. This adds an extra layer of risk for franchisees. On the other hand, franchisees also have an extra layer of control.
Does the Franchise You’re Considering Protect Its Brand?
You want a franchisor that will protect its brand. Look for evidence of firmness about a consistent experience in the franchise agreement documents and in the conversations you have with current franchisees.
Is There a Local Market for Your Franchise Idea?
Joanna was thinking about opening a business. She had enough severance pay from the job she had just left to cover the startup costs of a business.
Do You Want a Controversial Franchise?
You might not even know that the franchise you’re considering is controversial or has been controversial in the past. Here are some examples of franchise controversies:
Can You Bootstrap a Franchise Business?
The expression started out as “pulling yourself up by your bootstraps”—an impossible thing to do, so in the 19th century it meant a tall tale or an impossible claim.
