The food and beverage industry is being ever-influenced by broad trends, competition and customer satisfaction concerns. If you are a franchisee, you benefit from a degree of stability in this regard, due to your company’s proven brand and operational framework....
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What is included in a franchise operations manual?
One of the most valuable tools provided to franchisees by a franchisor is the relevant franchise’s operations manual. This critical document serves as a comprehensive guide that helps ensure uniformity and consistency across the brand, no matter where a franchise is...
2 ways franchisers may set franchisees up for business failure
When an entrepreneur wants to start a business with minimal personal risk, a franchise might seem like the ideal solution. They don't have to come up with their own business concept or products to start a successful franchise. All they really need is adequate capital...
How carefully do franchisees need to watch for encroachment?
Many entrepreneurs choose to operate franchises to decrease the risks that individuals face when starting a company. Many new business ventures fail in the first few years and franchises may be easier to run successfully in many cases. With franchises, people can buy...
What makes a franchise successful?
If you are thinking about purchasing a franchise, you may be wondering what is needed to succeed as a franchisee. You know that running a franchise has some advantages over starting your own business, such as the fact that potential customers already recognize the...
How many hours per week do franchise owners work?
You can picture yourself running your own business. In your daydreams you might spend a few hours a day doing the books, let your trusted employees handle the bulk of the business day, and show up to collect the deposits at the end of the day. That is a nice dream,...
Franchise cash flow mistakes and how to avoid them
As a new franchisee, cash flow can make or break your business. Here are three common cash flow mistakes that people make and what you can do to avoid them. Not having a cash flow management strategy One of the first mistakes people make is not having a good strategy...