Posts Tagged ‘Franchisee’
What Marketing Systems Should You Establish for a Franchisee?
In case you haven’t noticed, we’re in the midst of a marketing revolution. With the rise of social media, video, and whatever the next new platform brewing below the surface is, businesses can easily get overwhelmed when putting together a marketing plan. Yet, effective marketing becomes increasingly important in the face of stiff competition and…
Read MoreWhat to Consider When Buying a Franchise
Many people dream of being an entrepreneur. By purchasing a franchise, you can sell goods and services that have instant name recognition while benefitting from training and ongoing support to help you succeed. However, like any investment, purchasing a franchise is not a guarantee of success. It’s important to do your due diligence before making the…
Read MoreSweat the Small Stuff When Owning a Franchise
If this is your first venture into owning a franchise or if you already own a franchise business it’s important to realize that even the smallest of choices, may end up having an enormous impact on the future success of your franchise business. Think about this, if a car is going the speed of 5…
Read MoreRed Flags in the FDD: What to Watch Out For
So you’ve found a franchise you want to buy into and are eager to jumpstart the process. Then comes navigating all the paperwork. At this point, you’ll be introduced to the Franchise Disclosure Document (FDD). If you’ve never studied law, this is likely the most legalese you’ve ever seen. Despite the complexity, this document is…
Read MoreI Bought a New Franchise, Now How Do I Market It?
When it comes to marketing a new franchise, one thing you will have is an advantage over those that buy a new business. Why is this? The reason is you will have name recognition and advertising from both the regional and national levels, which will give you a very strong start. On average it takes…
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 MoreHow to Do Your Own Franchise Research Before Buying
When buying a franchise, you want to be absolutely sure that the brand you buy into is the right fit for you. Sure, a franchisor will make its business look new and shiny in an effort to attract more franchisees, but you’ve got to see past that to make sure that not only is the company…
Read More5 Things a Franchisor Looks for in a Franchisee
While in the franchise-buying process, it is imperative that you do your due diligence to ensure that the franchise you choose is a good fit for you, it’s also important to know that franchisors are also looking for a good fit in a franchisee. Franchisors can be picky about who they work with. After all,…
Read MoreSelling Your Franchise Unit as a Franchisee
Bottom line, there is no better exit strategy from owning a franchise unit than selling it. Only this option gives you the ability to retain the equity you built into the unit as well as cash out on your initial investment. For the smart franchisee, this is your long-term goal. I understand it’s an odd…
Read MoreClosing the Deal with a New Franchisee: 5 Reasons Deals Blow Up
Frustration runs prevalent when, as a franchisor, you invest a lot of time and money courting a prospective franchisee only to have the deal blow up in the final stages. Having worked with new franchises wanting to grow, I commonly see five main reasons these deals go south in the final stages. Not all of…
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