Posts Tagged ‘Franchise’
Franchisees: Understanding Your Exit Strategy
You need an exit strategy. It’s as plain as day, yet most new franchisees never address the idea of leaving their business one day. All the excitement centers on opening and growing. It’s a different, but mandatory, approach to open their franchise unit with the end in mind. Bar none, the best exit strategy is…
Read MoreFood Franchises Trending in 2017
Food Franchises and Restaurant Franchises are designated as either Quick Service, Casual Dining, Upscale Casual, Fine Dining or Fast Casual formats. Which restaurant format is trending in 2017? If you’ve been researching food franchises, you may not have heard of the fast casual format. Essentially, fast casual is a blend of fast food and casual…
Read MoreTop 10 Regrets Franchisees Have After Starting a Franchise
If there’s one thing we hear a lot at America’s Best Franchises, it’s “I wish I’d known THAT before I bought my franchise.” “THAT” can be critical to success in franchising. There are so many things you need to know to start and run a franchise. Following are the Top 10 mistakes franchisees will make…
Read MoreChoosing Which Law to Use When Creating Your Franchise Agreement
It might sound funny to read, “Choose which law you want to enforce,” but for franchises expanding outside of their state of origin, there comes a moment when a franchisor needs to choose which law to apply in the FDD. This isn’t an arbitrary look at the laws governing a state. Instead it’s a moment…
Read MoreShould Groupon Be Part of Your Franchise Marketing Strategy?
Understandably, increasing your sales and number of customers is a top priority when marketing your franchise. And while there are many strategies to do that, daily deal sites like Groupon might be one worth considering. How They Work You might be familiar with Groupon from the customer’s perspective: you have the opportunity to pay for an experience…
Read More4 Things Franchises Can Teach Independent Business Owners
While running a franchise and running an independent business are two sides of the same coin, there are many differences between the approaches that each take, and each can learn from the other. Here’s what the independent business owner can learn from franchisees. 1. Having Processes Makes Work Streamlined. How the two types of businesses…
Read MoreWhat Franchise Expenses Are Tax Deductible?
It’s everybody’s favorite time of year: tax time! [Collective groans from the audience.] In reality, nobody loves tax season. It’s a head-scratching time of year, and entrepreneurs and franchise owners alike always have plenty of questions that relate to their taxes. For example: do you know which of your franchise expenses are tax deductible? If…
Read More3 Quick and Easy Marketing Tips for Your Franchise
This is going to be a killer year for your franchise. How do I know? Because I’m about to give you some crazy easy marketing tips that you’d be a fool not to take advantage of using. So many business owners think marketing is this complex thing that they don’t need to bother with. But…
Read MoreAre Public Figures an Asset to Your Franchise?
We’ve all taken note when a celebrity comes to the stage for a product. How could you forget the iconic Air Jordans that dominated streets in the 80s and 90s? Every time you pass Chanel at the mall, images of Nicole Kidman in a stunning pink gown running through the streets of New York come…
Read MoreMillennials and Franchises: What You Need to Know
Forget Baby Boomers. The demographic that is quickly forging its own path in the franchise world? Millennials. Millennials, aged 18-34, now outrank the number of Boomers on the planet. And their numbers are turning up in an interesting place: as franchisees. We’re seeing an increase in the number of franchises run by Millennials, and it’s nothing…
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