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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,...
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...
You did all the research into your franchise opportunity and followed the plan with painstaking detail. You are putting in tons of hours and your social media presence is lively. But are you successful? Identifying the key performance indicators of success can tell...
Marketing and brand building are easier than ever before because companies have more direct access to their target audiences. The average prospective customer you want to gain interest in your company probably spends a bit of their time on social media every day. 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...
Consider this hypothetical: You invested your hard-earned savings into buying a franchise, and now you wish you never had. The franchise has turned out to be nothing like the success you believed it would be. Your financial records show that at this rate, you will be...
Consider this scenario. There is a business you have been a fan of for years. Then its leaders announce they are going to start franchising. You have been looking to start a business for years. You have the money to do it. Is this the opportunity you dreamed of, or is...
Purchasing a franchise is not the right move for everyone. While many see it as an easy way to start your first business, in some ways it can be far more complicated than starting something independently. First and foremost, you are giving up a massive chunk of...
It is easy to be extremely optimistic when you purchase a franchise. For every smiling, successful franchisee you see in the company’s marketing materials, there likely are franchisees who do not feel they are living the dream. What if you become one of those for whom...
Buying a franchise can be like purchasing a fast-track ticket to your ideal vacation destination. The costs are higher, but everything is faster and fully planned for you. You can get where you want to go that much quicker by investing in a company that already has a...