When many people think of becoming a franchisee, they imagine running a fast-food restaurant. You may be considering your options because you want to be a business owner, but you want the name recognition and other benefits that come with starting a franchise. So you...
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4 ways franchisees can prevent their businesses from failing
The dream of entrepreneurship can swiftly turn into a nightmare if not navigated with strategic precision. As a franchisee, understanding and implementing preventative measures can make the difference between flourishing success and costly failure. Exploring...
Exclusive vs protected franchise territories: Which is best for you?
Before committing to a franchise, you need to understand what, if any, territorial rights you have. You may be O.K. with a free-for-all situation where anyone and everyone can fight it out to sell the same product because you think you can outdo all comers and expand...
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 risk of cost-cutting early in franchise ownership
Entrepreneurs who pursue the route of franchising and secure their own operations have a decided advantage over those who chose to establish their businesses from the ground up. The model itself is attractive to any up-and-coming owner looking for a leg up in highly...
The transition to franchising
The hard work that goes into planning, opening, and establishing a business presents significant risks. Overcoming those obstacles and putting your enterprise on the road to success is a milestone that comes with personal and financial rewards. Expansion may be the...
What to look for in a franchisor
When you want to open a franchise, you should look for one that would be a good fit for you as a person and an entrepreneur. Franchising offers a codified business plan and resources designed for success. Your job as a franchisee would be to understand where you fit...
For franchisors, success comes with specific steps
The steps to take towards building a franchise require time, money, and a great deal of sweat equity. Once the decision is made to expand from one location to several, the hard work begins in building a business. As with any enterprise, challenges exist, many unique...
Change In Franchise Business Model
What if your franchisor requires a significant system change Can My Franchisor Really Make Me Do That? Imagine receiving notice from your franchisor outlining a significant system change (a costly store renovation, a new menu, a new point-of-sale (POS) system). The...