Enjoying the freedom of owning your own business has become the new American Dream. That feeling you get every morning when you wake up and realize you don’t have to report to a boss, because you are the boss, is second to none. But before you get to realize that dream, you need to go […]
Franchise
To Partner or Not to Partner?
There’s safety in numbers. Right? Choosing to franchise with a business partner can seem like a safe choice. There’s someone to contribute to the franchise investment, someone to share operational responsibilities with plus an extra perspective and skillset. Business partners can make franchising less risky but they can also add a layer of interpersonal drama. Sticky Situations […]
What Life as a Franchisee Will REALLY Be Like
Being a franchisee will look a little different depending on the franchise, your number of units and your level of operational involvement. But there are some similarities for most franchisees who invest in brick-and-mortar business models. Being a franchisee means being a business owner. The autonomy provided by the franchisee lifestyle also requires hard work. Before the […]
Loving the Product Doesn’t Necessarily Mean Loving the Business
One way to approach your franchise search is to focus on the businesses that you personally enjoy. Maybe it’s the pizza you can’t get enough of or the gym that keeps you motivated. You can easily whittle down your list of potential franchises by paying attention to your own buying habits. But thinking like a […]
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 […]
Why You Should Hire a Franchise Attorney
You did it! You finally found the golden franchise opportunity perfect for you. But not so fast; before you make it official, there’s one crucial thing you have to do first. That’s protect yourself legally, and the only way to do that is to hire an experienced franchise attorney. Many prospective franchisees we’ve spoken to […]
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 […]
Glossary of Franchise Terms
Considering franchising as a business opportunity? Like most industries, franchising has its own language. Familiarizing yourself with the lingo before beginning your search for the perfect franchise can help ease the research process. Absentee Ownership: An absentee owner uses a manager-run model where they hire someone to manage day-to-day operations. This allows an absentee owner to […]
What to Expect When You Purchase a Travel Agency Franchise
For those looking for the magical sweet spot between “I wanna be my own boss” and “I want to travel more,” owning a travel agency franchise can be a perfect arrangement. It offers freedom in your employment, and freedom in your leisure. And, as an added bonus, the two will frequently overlap. That doesn’t mean […]
