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For many entrepreneurs, opening a franchise business is the realization of a longtime goal. Hard work and sacrifice go into any type of business endeavor. However, the built-in benefits of owning a high-profile franchise are numerous, ranging from name recognition to...
If you're looking into starting your own business, and you're considering buying a franchise location, you know that it comes with the loss of control. You have to sell specific products, your store has to look a certain way, your employees have to wear specific...
Buying into a franchise can be a shortcut to business success. You get to make money off of an established brand with a loyal customer base. You benefit from investments made by the parent company into product development and advertisement, and you likely have a...
As a company, McDonald’s used to be lauded for marketing strategies to encourage Black business owners to buy into their franchise. Now, it seems like there may have been a lot of smoke and mirrors involved in their promises. A number of Black franchisees have...
You pay an elevated fee when you peg your loyalty to a franchise. For instance, opening a convenience store as part of the 7-Eleven franchise will cost you more than opening it without the brand association. It is a model that can work well. Otherwise, no one would do...
You have to tread carefully when you fire employees, knowing that they may feel wronged or sue your franchise business, making allegations of discrimination or wrongful termination. You would prefer this to go as smoothly as possible, and you do not want to have a...
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...
If you have workers at your franchise business who are in a protected class, you know that you must be wary about anything that could be considered discrimination against them. These classes include things like race, religion, sex, and age, just to name a few. In some...
Buying a franchise can be a good way to open a business and bring in compensation. However, buying into the wrong franchise can come back to hurt you later by resulting in poor returns or even negative returns. There are times when it’s not appropriate to buy a...
Franchises are anything but “one-size-fits-all.” Many smaller-sized enterprises, known as “micro-franchises,” represent an opportunity for budding entrepreneurs to get in on the ground floor of a potentially successful business. While still adhering to traditional...