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 […]
Franchise
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 […]
The Ongoing Costs of Running a Franchise
If the thought of launching a business and becoming your own boss is something you’ve always entertained, it’s wise to have an idea of what it will cost to keep your operations afloat. As you read this you may think about overhead expenses—things like rent, utilities and insurance—however, if you’re considering becoming a franchise owner, […]
Tips on Hiring Exceptional Staff
While it may appear that the title of this week’s FranNet blog makes a lot of assumptions about your future, we say it never hurts to be prepared. When you take the entrepreneurial plunge, you will become your own boss. And depending on the type of franchise you buy, you may be responsible for a […]
Franchise Funding: Preparing to Finance Your Franchise
So, you’ve identified the golden franchise opportunity that suits your skill set and needs. What’s next? Funding. Two significant expenses to consider are the initial franchise fee and ongoing royalties. The franchise fee is the nonrefundable, one-time price to operate a franchise using the franchisor’s model. You usually have the choice to pay it in one lump sum […]
What Franchise Can I Afford?
When choosing a franchise to buy, budget is an obvious factor. With many first-time franchisees wondering where to start, the franchise attorneys at Soden & Steinberger, APLC can offer brief and helpful insight to allow you to take the next step toward becoming a franchise owner. Starter Franchises If you have a budget of less than […]
7 Questions to Ask Yourself When Choosing a Franchise to Buy
You’ve decided you want to buy a franchise, consulted a franchise attorney, and confirmed you have the means to move forward. Now comes the fun part: deciding on a franchise. From retail stores and restaurants to professional services and home-based businesses, the landscape of opportunity is vast and open for you to explore. As you […]
Franchising When You’re a Mom
Mother may as well be a job title. Think about it: moms are basically entrepreneurs. You manage the household, often including everything from finances to every family member’s schedule, not to mention, making sure everyone is happy and healthy, too. Sometimes, on top of all of that, you have to also balance time between home […]
Low Cost Franchise Opportunities for Under $10,000
Are you an entrepreneur looking to start your own affordable franchise? Whether you are figuring out cost and time management or just starting your research when it comes to finding the right franchise opportunity, it can be scary. However, it doesn’t have to prevent you from becoming a franchisee. Some of the best, low-cost franchise […]
