Posts Tagged ‘Franchise’
What 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…
Read MoreHow to Develop a Marketing Plan for Your Franchise
At the fresh start of a year, it’s only natural that you’d start thinking about your franchise’s marketing for the next 12 months. How will you improve upon what you did last year for even better results? What new things do you want to try? You can answer all of these questions by creating your…
Read MoreDeath and Disability: Is Your Franchise Unit Protected?
It’s hard to consider certain possibilities in our life. Whether it’s creating a will, designing an exit plan, or getting affairs in order, people naturally stray away from activities that have to do with their potential demise or disability in the future. I admit planning for the possible early end to your life is never…
Read MoreFamily-Run Franchises: Are They Right for You?
If you’re close to your family, it might seem a natural extension of your personal relationship to move into a business one. Many families choose to go into the franchise business together, to varying degrees of success. Here’s what you should consider before mixing business with pleasure in your family. Are You Able to Separate…
Read MoreEvaluating a Franchise Territory
Ultimately, the defining factor when reviewing territory comes down to a single question: “Do you have a large enough customer base to be successful?” While there are several components to that question, this is what you are looking to determine. Even with the best business model out there, an over-saturated market leads to frustration and…
Read MoreAccounting for Franchises: Tips to Help You Grow
Being a successful franchisee means having at least a general grasp on various aspects of running a business. You might not be an expert in marketing, management, or finance, but being well rounded enough to understand how each of these work will help you thrive with your franchise. Today, let’s talk about accounting. It’s absolutely…
Read MoreThe Best Legal Structure When Buying an Existing Franchise
Purchasing an existing franchise helps reduce risk. Rather than vetting a franchise with the hope that it thrives in your specific region, the current operator has already proven the model in the region. It’s running, operating, and hopefully making substantial profits. Whenever you purchase an existing business, franchise, or other, there are many moving pieces…
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