Posts Tagged ‘Franchise Business’
Sweat the Small Stuff When Owning a Franchise
If this is your first venture into owning a franchise or if you already own a franchise business it’s important to realize that even the smallest of choices, may end up having an enormous impact on the future success of your franchise business. Think about this, if a car is going the speed of 5…
Read MoreRed Flags in the FDD: What to Watch Out For
So you’ve found a franchise you want to buy into and are eager to jumpstart the process. Then comes navigating all the paperwork. At this point, you’ll be introduced to the Franchise Disclosure Document (FDD). If you’ve never studied law, this is likely the most legalese you’ve ever seen. Despite the complexity, this document is…
Read MoreWhat Separates a Successful Franchise System from an Also-Ran?
Let’s face it, at some point in your life, change becomes necessary to keep your juices flowing. You’re proud of the fact that you’ve achieved some success in what turned out to be a long-term career. But it’s time to retire yourself from that position and find a new venture that will inspire you and…
Read More3 Franchise Growth Industries to Watch
As business men and women, we’re always on the hunt for the “next best thing.” But once we venture into the franchise world, we need to balance the necessity of a proven model without crossing the line into an outdated business plan. After all, no one would have wanted to buy into a Blockbuster franchise…
Read MoreLeveraging Social Media to Grow Your Home Services Mobile Franchise
With today’s busy lifestyle of having to balance work, children and the home, mobile home service providers offer consumers a way to more easily manage their day-to-day responsibilities providing them with increased flexibility and less chaos. Mobile franchisees have built businesses that offer consumers a variety of home services including lawn and landscaping maintenance, mosquito…
Read MoreWhich Term is Right for Your Franchise?
Converting your thriving business into a profitable franchise will bring about a seemingly endless laundry list of decision-making. One you will need to face is setting the best term for franchisees. Franchise terms, the length of time you are allowed to operate the business, typically come in three different flavors: 5 years, 7 years, or…
Read MoreFranchise Fees: What to Expect
The franchise fee varies between franchises, but aspiring franchisees need to have a general idea of what to expect when it comes to covering the initial fee. In my experience, the average franchise fee range is between $25,000–$50,000 for a single unit. It’s not uncommon to find newer business models with a lower franchise fee…
Read MoreHow to Do Your Own Franchise Research Before Buying
When buying a franchise, you want to be absolutely sure that the brand you buy into is the right fit for you. Sure, a franchisor will make its business look new and shiny in an effort to attract more franchisees, but you’ve got to see past that to make sure that not only is the company…
Read MoreThe Role of Conditional Use Permits in Expanding Your Franchise
It’s no secret that business often outpaces local regulations, city ordinances, or zoning regulations. When reviewing the rapid advance of the tech space or the current litigation following the mass spread of companies such as AirBnB or Uber, it’s apparent that many laws just haven’t caught up to today’s diverse business world. The tech space…
Read MoreHow to Structure a Beneficial Commercial Real Estate Agent Relationship
Sitting down to the final contract signing with a franchisee marks an important moment in a franchisor’s path to growing their business. Despite the anticipation and relief between all involved parties, it’s more like the team gearing up at the starting line as opposed to crossing the finish. For both the franchisor and the franchisee,…
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