Posts Tagged ‘Franchisee’
The Basics of Franchising: What You Need to Know
Franchising is when a franchisor grants a franchisee the rights to sell their products and/or services. The two enter an agreement that allows the franchisee to use the franchisor’s methods, operations, systems, brand name and other intellectual property to grow their business. Franchisors often provide ongoing training to support the success of the proposed business…
Read MoreThe Basics of Franchising: What You Need to Know
Franchising is when a franchisor grants a franchisee the rights to sell their products and/or services. The two enter an agreement that allows the franchisee to use the franchisor’s methods, operations, systems, brand name and other intellectual property to grow their business. Franchisors often provide ongoing training to support the success of the proposed business…
Read MoreSingle-Unit vs. Multi-Unit Franchise Ownership
Single-unit franchise ownership is much different from multi-unit franchise ownership. The two types of operators often have different business goals and priorities. So, how do you decide which is right for you? As always, America’s Best Franchises has got you covered with all the pertinent details to help you make a decision. Although both types of ownership…
Read MoreGlossary 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…
Read MoreWhat 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…
Read MoreFranchise Disclosure Document: What You Need to Know
Prospective franchisees typically receive a Franchise Disclosure Document after requesting more information about a franchise or during the Discovery Day process. But this 100- to 200-page legal document is more than just an intimidating pile of papers; it can mean the difference between your success or failure as a franchise business owner. A Franchise Disclosure Document,…
Read MoreChoosing a Franchise Opportunity: What to Ask a Franchisor
Choosing a franchise opportunity is much like buying a new car; it’s a big investment that requires its fair share of research. Although a two-seater Porsche with all the upgrades is everything you’ve always dreamed, it likely won’t have enough room for your family of five. And while an SUV may fit your whole family,…
Read MoreWhat Law Should Apply to Your FDD?
When compiling the Franchise Disclosure Document (FDD), franchisors must consider closely the laws that shall apply to the franchise agreement. You want to be honest and transparent with prospective franchisees in the agreement, yet mindful and even somewhat strategic in drafting the FDD under state and federal laws. Here are a few things to keep…
Read More3 Key Franchisee Considerations Before Signing a Multi-Unit Agreement
Signing a multi-unit agreement to buy several franchise territories can unlock fantastic savings on franchise fees and exponentially increase the opportunity for return on your investment. For example, if you agree to open up three pizza franchises, you will sign a standard franchise agreement for the first unit, and a separate multi-unit agreement to open…
Read MoreHow to Run a Productive Discovery Day
The term “Discovery Day” can be a bit misleading. While there is certainly an element of discovery in a prospective franchisee visiting your company and meeting stakeholders for the first time, Discovery Day is meant more to be the final step toward signing an agreement. You should go into it expecting to conclude with something…
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