Posts Tagged ‘Franchisee’
Closing 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…
Read MoreFitness Franchise: Initial Costs and Fees to Consider
Love working out? Love helping others achieve their fitness goals? A fitness franchise might be a good option for you. But before you head to the bank to get your small business loan or home equity loan, you’ll need to establish a detailed business plan to fully understand the initial cost and fees even before…
Read More5 Signs You’re Meant to Be a Franchise Owner
You’ve got the passion and drive it takes to run your own business, and you’re considering buying a franchise as a feasible option. It’s important to note that running a franchise is a bit different from running an independent business. Both have their own benefits and drawbacks. But if the following apply to you, being a franchise…
Read MoreWhat to Pay Attention to in the Franchise Disclosure Document
When buying a franchise, the franchise disclosure document is one of the most important elements of the process, so it’s important to know what to expect and what to look for. What It Is The Federal Trade Commission requires all franchisors to provide this document and include 23 specific elements about the franchise, its officers, and franchisees. It’s this document that…
Read More5 Ways to Get Other People to Market Your Franchise
When you first open your doors, how will you let your community know you’re in the neighborhood? How will you market your franchise? Most marketing plans, in the beginning, consist of sending out flyers, putting out sandwich board signs or advertising in local publications. Although these are good, they’re all costly. One of the lesser…
Read MoreBuying a Franchise: How to Legally Protect Yourself
Purchasing a franchise is not only a large investment, but there are also several aspects of running a business that open you up to liability. Partner with experienced professionals throughout the process of buying and owning a franchise to ensure you are protected. As an experienced franchise lawyer, I work with both franchisees and franchisors…
Read MoreThe Pros and Cons of Owning Multiple Franchises
When you first open your franchise doors, you’re probably only considering opening one location. That’s the case for many franchise owners until they get a taste of the success that can come along with this career path. To continue the same success, many franchisees start to consider owning multiple franchises. Before you make your next…
Read MoreAvoid These 5 Mistakes New Franchise Owners Make
Considering opening a new franchise? You’re not alone. Franchise ownership is hot for a lot of reasons. You get to be your own boss, giving you more freedom and flexibility in your career. You also get a valuable head start when beginning your new venture because much of the market research, marketing and setup have…
Read MoreFranchisee: Red Flags When Signing a Real Estate Lease
For brick and mortar franchisees, securing your real estate transaction carries a significant weight on your future success. Not only is it a substantial investment, most of the time you are locked into a long-term lease. The terms in these leases can also bind you to extensive and expensive renovations if not done properly. As…
Read MoreGet to Know the Other Franchisees
As you move forward with your due diligence and continue to gather research on the variety of opportunities the franchise world has to offer, don’t forget to really spend time talking with the existing franchisees of the businesses at the top of your list. Investigating their experience with the business and learning about the process…
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