The fast-food industry is a highly competitive one, and Subway has been struggling to keep its share of the market in recent years. To that end, it called together its North American franchisees for a meeting last month to discuss reasons for the decline in sales and...
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Year: 2024
Local advertising campaigns can be a source of franchise conflict
Branding and marketing are crucial for long-term business success. The amount of time and money required to develop a new brand is one reason why people choose to invest in franchise opportunities instead of creating a company from scratch on their own. Signing a...
How potential franchisees can get the most out of Discovery Day
Even if you’re new to franchising, you’ve probably heard of “Discovery Day.” Sometimes, it’s called “Meet the Team Day.” Whatever a franchisor calls it, it’s an opportunity for them and for prospective franchisees to get to know each other. Often, they’re held at the...
3 steps to reduce risks as a franchisee
Running a franchise is a lot of work. Yet, a franchise can fail just like any business, and the franchisor may not readily save the franchise from failing. Franchisees can take steps to reduce the risk of failure. Here is what you should know: 1. Research the...
Running a franchise? Why you need an exit strategy
Most people setting out on their franchise journey focus on startup costs, initial operations and growth potential. While those are important considerations, having an exit strategy is equally crucial. Things may not work out as expected, and you never know when you...
Does the franchisee get to hire its own employees?
A franchisee has a very unique position. On the one hand, they are running a business, such as a fast food location, an auto dealership or another type of retailer. At the same time, this isn’t a business that they started. They’ve purchased the license from the...
3 details to double-check before signing a franchise agreement
A franchise agreement is a complex, highly-valuable contract between an entrepreneur and a company offering business opportunities. The franchisee signing the agreement effectively buys into an existing company to operate a standalone facility. They may have what is...
Do franchise owners have to follow national sales and promotions?
One of the benefits of opening a franchise is that it comes with national branding. For instance, someone could open a fast-food restaurant. Local consumers are going to see national commercials for products and promotions, such as new menu items that come out or...
Ways to measure franchisee success
As a franchisee, you certainly want to know if you’re having success with your new business. But this isn’t quite the same as launching the company yourself. You’re running an established business, so the benchmarks are a bit different. Thankfully, there are still...
Leading causes of franchise disputes
Franchising can offer a unique opportunity for you to own and operate a business under an established brand, benefiting from its repudiation, proven business model and ongoing support. This can provide you with a higher likelihood of success compared to starting a...