Owning a franchise can be a rewarding and lucrative way to start your own business, because you’ll also be benefiting from the support and resources of a larger brand. But how can you become a franchise owner? Let's break it down and explore the steps you'll need to take to turn your dream into a [...]
Multiple-unit franchising has become a popular investment tactic in recent years. Through the combination of lower buy-in costs and opportunities for compounded financial gain, entrepreneurs are choosing to strengthen their portfolios within proven franchise systems that offer long-term growth. Owning multiple franchises can be a strong wealth-building strategy since diversification of your investment means you [...]
If you spend time at work daydreaming about the day when you’ll be your own boss, you‘re not alone. Many successful entrepreneurs were once like you. Long before they started their own businesses, they worked for someone else. But they had the drive to take a risk and go out on their own. And while [...]
One of the biggest advantages to opening a franchise business instead of an independent operation is the comprehensive training and ongoing support you stand to receive from your franchisor. Franchise training should be among your top priorities when basing your decision on a franchise. The right franchisor will have a strong system in place to [...]
Franchise Support: 4 Things To Look for as a Franchisee As a franchise owner, you never want to be left hanging. Good franchisors will provide ongoing support with things such as sales, human resources, and technical support. Learn more about the types of franchise support you should be looking for when you consider buying a [...]
When you enter the world of franchising, there are many strategies that a franchise brand may utilize for growth. One of the approaches is expansion with the use of a master franchisee, sometimes referred to as master franchisors, area representatives, or sub-franchisors. Franchisors either deal with franchisees directly or with the use of a master [...]
Should you join a franchisee association and are they actually helpful when dealing with franchising issues? Learn more about what to expect. Franchisee Associations Defined As a part of a large franchise system, franchisees may feel like they aren’t sure who to turn to when questions or concerns come up, especially if there’s an issue [...]
A business partner can be a great asset by helping you lighten the heavy load of responsibility and grow faster than going solo. Here's how to find a partner. Qualities That Lead to Success Opening an independent business or buying a franchise is a big decision, both personally and professionally. The idea to partner up [...]
Franchise fees don’t have to be confusing. Learn everything from initial fees, royalty fees, and more. See where your money goes and how it grows your business. Initial franchise fees vary, depending on the industry and the brand. Know what you are paying for before you buy. INITIAL FRANCHISE FEE Not to be [...]
Exploring opening your own business and wondering if a franchise makes the most sense? Franchises are smart investments due to lower start-up risks but ultimately, your rate of return depends on several factors. See if franchising is a good investment for you. Considering leaving your current job to open your own business? Explore if [...]
