Posts Tagged ‘Franchise Business’
5 Tricks for Due Diligence on a Franchise
If you’ve been exploring the waters in the world of franchising, you’ve come across the term “due diligence.” This marks the final phases of committing to purchase a franchise. By this point you’ve: Chosen a franchise model; Determined regional appeal; Completed market research and analysis. You’re convinced that this franchise is a business you want to…
Read MoreInterviewing the Franchisor
After you have completed the initial qualifications, it’s now time for you to speak directly to the franchisor. As you prepare for this conversation, you need to keep in mind this is the time for you to really learn about the company and get a feel for if this is the right business for you.…
Read MorePros and Cons of Franchising Your Business
Businesses looking to expand often find themselves at a crossroads: franchising vs. traditional expansion. Despite experts trying to sway you one way or another, there’s no cookie cutter answer. It boils down to your specific business model, your vision for your business, market trends and ability to franchise. Not every model should, or can be,…
Read MoreDid You Lower the Bar for Your Business?
You’ve done it. You successfully own a franchise or new business and the first three years have passed without too much trouble. Now 10 years…15…20, each with its own unique opportunity to keep your business perspective fresh and exciting. How do you stay motived and keep your passion thriving? Related Article: 6 Key Business Goals…
Read MoreFranchise Cash Flow Questions
One of the most common complaints among people who have invested in a franchise business is that they aren’t earning enough, that they worry over meeting payroll and bills, or that they don’t have the sales they expected. As with so many franchise business problems, cash flow issues are often caused by a failure to…
Read MoreTop 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…
Read MoreFranchisees Getting Involved with the Community
Successful franchisees know that they can’t leave all the marketing efforts to the franchise corporate office. When you think about which franchise business opportunity to choose, you should consider what kind of marketing strategies will work for each franchise you consider, and what resources you have in those areas. One type of marketing that can…
Read More10 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…
Read MoreFranchise and Independent Business: Would You Swap?
Robin had her own cleaning service. She operated out of her apartment, but planned to own a building in the future. When she signed on more clients than she could handle, she recruited friends and relatives to help. They didn’t know everything Robin knew—like what kind of cleaning supplies to use on granite and marble…
Read MoreConsider the Legal and Financial Aspects of Owning a Franchise
As with any major investment, the best decision can be made only if you’re as informed as possible. You need to spend a good deal of time researching, interviewing and exploring your options—and a part of the process is determining what the legal and financial aspects are. As your focus gets more serious with the…
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