You pay an elevated fee when you peg your loyalty to a franchise. For instance, opening a convenience store as part of the 7-Eleven franchise will cost you more than opening it without the brand association. It is a model that can work well. Otherwise, no one would do...
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Franchisees And Dealers Nationwide
Year: 2021
Can you spot an employee who may sue after being fired?
You have to tread carefully when you fire employees, knowing that they may feel wronged or sue your franchise business, making allegations of discrimination or wrongful termination. You would prefer this to go as smoothly as possible, and you do not want to have a...
Mergers: Are they really good for business?
If you’re a franchisor considering a merger, you’re looking for a way to grow your business. You don’t want to sell or lose your involvement, but you think that combining forces with another related company may help you both thrive in a highly competitive industry. To...
The complexities involving firing workers in protected classes
If you have workers at your franchise business who are in a protected class, you know that you must be wary about anything that could be considered discrimination against them. These classes include things like race, religion, sex, and age, just to name a few. In some...
3 signs that buying a franchise isn’t the right option
Buying a franchise can be a good way to open a business and bring in compensation. However, buying into the wrong franchise can come back to hurt you later by resulting in poor returns or even negative returns. There are times when it’s not appropriate to buy a...
The benefits of micro-franchises
Franchises are anything but “one-size-fits-all.” Many smaller-sized enterprises, known as “micro-franchises,” represent an opportunity for budding entrepreneurs to get in on the ground floor of a potentially successful business. While still adhering to traditional...
Unlimited options for veterans returning to the private sector
Servicemen and women who reach the end of their military careers often want to explore new opportunities to re-enter the civilian world. For many, franchising represents an option to “hit the ground running” with a built-in business model and potentially a more modest...
A future in franchising for fiftysomethings
With people living longer lives, careers don’t have to end when someone reaches a certain age customarily associated with retirement. In fact, many older people are pursuing new endeavors, including ownership of their own franchise businesses. Prospective...
Do you have to tell an employee why you’re firing them?
As a franchise owner, you make the decision to let an employee go so that you can hire someone to replace them. When you let them know that this is their last day, they become angry and ask why. You feel that the situation is escalating uncomfortably, so you decline...
3 common traits of successful franchisees
Becoming a franchisee is an attractive option for those who wish to establish a business without creating one from scratch. One of the benefits of franchises is that the owner, or franchisor, has already set important matters regarding the company, such as quality...