Posts Tagged ‘Franchise Business’
Checks and Balances to Ensure You are Receiving the Correct Royalties
While there can be prestige in developing your business into a franchise, that’s not why you put in the massive amount of work and invested heavily into growing your business. You’re here to collect the royalty checks. Prestige only goes so far, after all. Royalties capitalize on your ability to create a sound business plan,…
Read MoreWhat Franchise Trade Shows Are Worth Attending?
If you’re considering buying a franchise, attending trade shows in franchising is an excellent way to help you determine if franchising is right for you, as well as introduce you to several potential brands to invest in. Franchise trade shows are held throughout the year, all over the world. Here are a few we think…
Read MoreClosing the Deal with a New Franchisee: 5 Reasons Deals Blow Up
Frustration runs prevalent when, as a franchisor, you invest a lot of time and money courting a prospective franchisee only to have the deal blow up in the final stages. Having worked with new franchises wanting to grow, I commonly see five main reasons these deals go south in the final stages. Not all of…
Read MoreRegistering & Filing: Choosing Which States to File In
The temptation to go national out of the gate when launching a new franchise will be strong. If you haven’t filed in a registration or filing state, you are not allowed to talk to interested parties in that state. Even for a small operation, the possibility of turning away prospects in a neighboring state will…
Read MoreDoes Your Franchise Need a Press Release?
When it comes to helping your franchise succeed, you’ll do whatever it takes. Marketing? You’ve got that covered. But what else can you do to get the word out about your franchise when it first launches? Public relations, the flip side to the marketing coin, is one tactic that could help you increase the number of…
Read More3 Options Beyond the Standard Franchise
Did you realize that there are other options for you as a franchise owner beyond owning a single franchise? This post will explore area development, master franchises, and multi-unit ownership to present you with additional considerations for your business endeavors. Area Developers: Big Potential in Your Geographic Area Rather than signing a franchise agreement for a single…
Read MoreThe Best Franchises to Launch for 2016
Can’t decide what franchise to launch, simply because there are so many options out there? Here’s a list of the best franchises right now. They’ve proven to franchisees to be valuable investments, easy to work with, and highly profitable. #1. Expedia CruiseShip Centers If the idea of helping people plan exciting vacations thrills you, consider…
Read MoreSEO and SEM for Franchise Owners
While some of your franchise’s marketing will be dictated and provided by your franchisor, it’s a good idea to still educate yourself on aspects of digital marketing so that you can make sure that your location is found online. Two important facets of digital marketing are search engine optimization (SEO) and search engine marketing (SEM).…
Read MoreHow Much Marketing Do You Need to Do for Your Franchise?
Many franchisees falsely assume that their franchisors will handle all the marketing for them. While yes, franchisors do provide some elements of marketing—typically promotions and in-store collateral—much of your marketing as a franchisee falls on your shoulders. What Franchisors Do Most franchisors have what’s called a mandatory marketing program. Part of the franchise fees you pay,…
Read MoreTips for Writing Your Franchise Business Plan
While your franchisor will provide some guidance with regards to your new franchise, it’s up to you as the business owner to develop a comprehensive business plan. If you’ve never written one before, let this post be your guide. The Purpose of Your Franchise Business Plan A business plan, whether for a franchise or any…
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