Browsing Tag
franchise
32 posts
Top 4 Reasons to Become a Franchisee Versus Launching a Brand-New Business
Have you always wanted to own your own business? Do you crave the flexibility, immense freedom, and sense of fulfillment that coincide with being your own boss? If so, you may be in the process of brainstorming various company ideas that would prove lucrative in the long run. However, wouldn’t it be fantastic if there...
5 Important Tips For First-Time Franchise Buyers
Many people have the goal of owning their own business. To expedite this process, becoming a franchisee of an established brand may be an attractive option, as entrepreneurs can build off a proven formula for success to guide their decisions as business owners. However, opening a franchise location is not a fast track to riches,...
Why You Should Buy an Online Business Instead of Building One From Scratch
Good news. You can purchase an existing online business. Whether you’re using an online marketplace, personal network or broker, there are many avenues to purchase an online business. Some business owners no longer have the passion to run a business or a new venture may lead exiting business owners to a fresh journey. Whatever the...
This Franchisee Shares How to Survive and Thrive During Tough Times
The year 2020 will always be synonymous with words like “tragic,” “traumatic” and “tough.” For Mosquito Authority® franchise owner B.J. Bacha, it was certainly challenging, but it was also a year when being involved in an essential business brought out the full value in being a franchisee. As many other businesses were shut down by...
A Blockbuster Retail Franchisee Reveals Why The Chain Was Built to Fail
The following is adapted from the book "Built to Fail: The Inside Story of Blockbuster’s Inevitable Bust." Blockbuster was built by one of the most successful entrepreneurs in history, Wayne Huizenga. Before turning it into one of the most powerful brands in the entertainment world, he started Waste Management with a $5,000 loan and one...
4 Ways Franchise Ownership Minimizes Business Risk
Aspiring business owners have several choices available for how they decide to break into entrepreneurship. Two of the most common ones include starting a business from the ground up and investing in a franchise. Both allow you to be a business owner, but there are slightly different nuances in how the business is operated. How...
What is a Franchise? The FranchiseHelp Primer and Quiz
Contrary to popular opinion, franchising extends far beyond food and retail. In recent years, franchises have become popular for the services and manufacturing sectors. The U.S. Census shows that in 2012, franchises alone accounted for $1.28 billion of sales. A franchise can be broken down into the following two specific categories: Product or trademark franchising This is...
7 Necessary Steps to Take Before Opening a Franchise
The process of finding and opening a franchise can seem long and confusing. Likely because of this, many people rush through the process and risk ending up unhappy with their choice, running an unsuccessful business, or both. We’ve put together a list of seven steps that all prospective franchisees should take. Following this roadmap will not...
Franchise: Could It Be Right for You?
Is a franchise the choice for you? If you’re a budding entrepreneur looking for your big break, you probably have hundreds of ideas running through your head. You may have considered any manner of industries and sectors, and countless business models. It’s an exciting time to start a new business, since there’s growth to be...
CIT Group seeks additional funding – Marco’s Pizza adds financing options for franchisees
The recent CIT Group news hit the franchise community late last week. One of the larger small business lenders announced, CIT Group announced it needed additional money from the government to stay affloat. The government denied their request but CIT was able to cut a deal with its creditors giving them a little more time...
Interview with Peter Ross, CEO of Senior Helpers
I often get asked, "what is the hottest franchise?" or "what sort of business should I buy?" and my response is typically the same ... Often is depends on your interests, skills, work ethic, location, and several other factors. But when pressed, I urge people to look at changing demographics, sites or other factors that...
Some Laid Off Workers Turn to Franchising
The past 18 - 24 months have been tough on corporate America. I'm based in Charlotte (home of Bank of America and Wachovia/Wells Fargo) and many of my friends that work for the bank are always nervous. A lot of these people were also able to store up a nest egg and once they get...
Franchises Offer Start Up Discounts to Veterans
As a way to to honor those men and women who have served in the U.S. military, the Veterans Transition Franchise Initiative, known as “VetFran,” was developed to help veterans of the armed forces transition to civilian life and go into business for themselves. VetFran is a voluntary effort of International Franchise Association member-companies that...
Why is now the time to jump in and buy a franchise?
Jeff Elgin of FranChoice answered host Jenna Lee’s questions on “Franchising in 2009” on Fox Business Morning C-Suite Sit-Down. His message: Despite the economy, people can still find great opportunities in franchising. Jeff Elgin of FranChoice on franchising
Out of Work? Consider Buying A Franchise – Part 2
Earlier this month we discussed different options for those who are currently unemployed or recently heard they will be receiving a severance package and asked to look for different opportunities. While buying a franchise isn't for everyone, considering the idea is always a possibility after leaving corporate America. Shortly afterwards, I read this article in...
Would You Like Fries With That Outsourcing?
I'm a big fan of Fast Company (both online and off). When I travel, the magazine is always in my briefcase. If they offered an App for my iPhone (like The New York Times App) I would be a faithful subscriber. You get my drift ... So I was catching up on my Fast Company...
Out of work? Consider buying a franchise
Tough news in Charlotte, NC earlier this week. Wachovia Corp, one of the largest companies in Charlotte and the 6th largest bank in the United States, was purchased by Citigroup (Stock ticker C). 5,000 people were let go on Tuesday and I'm sure more will be before the end of the year. When the unemployment...
Franchise Organizations Secret Shop Employees
It's travel season ... last week Washington, DC for Franchise Appreciation Day and this week Franchise Update's annual Franchise Development Conference at the Drake Hotel in Chicago, IL. The conference agenda is helping owners of franchise organizations (in a peer to peer environment) understand the present franchise sales environment and gain valuable insight for improving...
IFA’s Franchise Appreciation Day Recap – Current Political Issues Facing Franchising
Earlier this week I attended the International Franchise Association's 9th annual Franchise Appreciation Day in Washington, DC. Over 500 people, franchisors, franchisees and industry suppliers, gathered together to discuss the current economic and political picture and visit Congressional men and women to present their views and stances on the major political issues facing small businesses...
Bennigan’s Files Chapter 7 – What happens to the franchisees?
We interrupt our regularly scheduled "How to research and buy a franchise" with this update ... Within the last week, two large restaurant franchise systems have declared bankruptcy, Bennigan's and Steak & Ale. Most of the major news sites did a nice job covering the story - you can read about it here: Google News...