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...
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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...
Should you consider alternative dispute resolution options?
As a franchise business owner, you naturally want to do what you can to avoid getting into disputes. But despite your best effort, this may still happen. What can you do if you get into an argument or disagreement with the franchisor? Fortunately, litigation is not...
Your responsibilities when your business partner dies or quits
It’s a simple fact that franchise business partners owe fiduciary duties to each other. You share in the profits of your business as well as the risks and liability, and you make important decisions together. If your partner passes away, or if they decide to leave the...
Do you know your rights as a business tenant?
You found an ideal physical location for your franchise business. As a first-time business owner, you must understand the differences between residential tenant rights and business tenant rights. It's important to know when you must handle a situation alone and when...
The pros and cons of buying a franchise
Many prominent businesses started with an idea that eventually became a thriving enterprise with multiple locations. However, taking that initial risk and build from the ground up is also fraught with pitfalls. After countless “trials” and errors” in their operations,...
Avoiding mistakes in selecting your franchise location
Finding the right location is paramount when it comes to any type of “brick and mortar” franchise business. It is one of the most critical decisions a franchisee can make. However, in searching for the ideal place or places, mistakes are easily made. Know your history...
Looking back at McDonald’s down under
Franchising provides opportunities for entrepreneurs not only in the United States but also throughout the world. McDonald’s resides in the “gold standard” category for entrepreneurs nationally and internationally. Australia is about to mark an important milestone,...