By Marietta Snetsinger 1. Why should I use franchising to grow my business? As a smart and successful entrepreneur, you’re probably thinking about how you can continue to capitalize on your success and grow your business. As you consider your options, you may find that the franchise business model could [read more…]
A: Validation is part of the research process when you, the prospective franchisee, interview franchisees in the franchise systems you are investigating. It is one of the most important parts of your research. And it’s one of the reasons I love the franchise industry: you hear facts directly from owners [read more…]
When we look at established systems with hundreds of locations, it’s natural to wonder about their recipe for success. Is it the products and services? The consistent operations? The brand recognition? Grant Bullington, franchise consultant at FranNet, says an established organization can offer great benefits to franchisees. “First, there isn’t [read more…]
Smart shoppers, typically, ask plenty of questions about a product and/or service before they buy. Franchise tenants preparing for lease negotiations need to follow that example! Before you agree to any lease terms and sign on the dotted line, you will need to know all you can learn about both [read more…]
A: BUYING A FRANCHISE IS EXCITING RIGHT? The prospect of opening the door to a shiny new outlet and having customers rush in to experience your brand is part of the allure of franchising. But that excitement fades the moment you receive the Franchise Disclosure Document, an epic tome the [read more…]
When franchisees are looking to start, grow, or expand a franchise business, one of the first questions they need to consider is: “Where will the capital come from to open this location?” At the heart of the question is whether raising capital to purchase the franchise, build, and grow it [read more…]
After the initial excitement of learning about the multitude of franchise opportunities out there, it’s important to seriously consider all of the financial details so that you can sign on that dotted line with confidence. Among the myriad of questions to consider, how you’re going to finance your franchise is [read more…]
While the proven systems of franchising remove much of the uncertainty associated with traditional business start-ups, a new venture still requires a certain level of courage, a willingness to take on financial risk and build something new. You might say that if there’s one group that’s already “been there, done [read more…]
“Everybody’s gotta eat, so it’s got to be good business – right?” It’s a rationale that franchise consultant Gary Prenevost hears often from newcomers contemplating a food service franchise. But with over 15 years of experience with the FranNet franchise consultancy, Prenevost has a measured response to that truism: “Just [read more…]
With the year end fast approaching, many people will be setting new goals for 2018. Losing weight, saving money, or learning a new skill – everyone has something to accomplish. Setting personal goals is very valuable but, if you’re an owner of a franchise, what are some of your own [read more…]
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