Franchise Liability
When you’re choosing a franchise opportunity, you’re thinking about the satisfaction of running your own business and how much money you’ll earn, but you should also take some time to think about legal liability. This can be one of the big differences between one franchise and another. For instance, if…
Plan for the End of Your Franchise Business – at the Beginning
You’re looking at franchise business as a new beginning, so why think about the end? It seems counterintuitive, but having an end game in mind when you start makes sense. Chances are, you’re excited about being a business owner, earning money, and building your profitable franchise. But what if there…
The Nutty Scientists
Starting a franchise business, like starting any business of your own, brings a lot of satisfaction. For some, it’s the excitement of working for yourself. For others, building a successful business and being able to provide jobs for others brings fulfillment. For still others, it’s about making a positive impact…
Franchising in Retirement
Americans are working longer and retiring later. Many of us can expect to work until we’re 70 or older. If you’re able to retire but not yet ready to quit working, this can be the time in your life when you fulfill the dream of owning your own business. Investing…
A Good Franchisor/Franchisee Relationship Requires Faith
A franchisee who has FAITH in their franchisor, arguably, owns one of the best relationships in business. A franchisee who doesn’t have faith in their franchisor has one of the worst relationships in business. Faith is an extremely valuable thing in the franchise world and both franchisees and franchisors should…
Graduating College? Franchising Might Be for You
With a competitive job market and entry level jobs hard to come by, entrepreneurship is an increasingly appealing idea for new grads. Franchising has been an option but can be less accessible for recent college graduates, especially when they have little or no credit history, little collateral for loans, and…
Why Does Your Personality Matter In Franchising?
This is a question that absolutely needs to be asked when selecting a franchise. If you buy a franchise or a business that doesn’t utilize your personality well you will quickly become unhappy with it. You won’t work hard at it and ultimately the business will either fail or it…
Is Franchising an Option for Moms?
As Mother’s Day approaches, we’re naturally thinking about moms. A franchise business can be perfect, either for a stay at home mom looking for a business opportunity that lets her be home when the kids return from school, or for moms whose kids are old enough to allow her to…
Personal Involvement of the Franchisee — That’s You
Item 15 of the Franchise Disclosure Document, or an FDD, explains the franchisor’s requirements for personal involvement of the franchisee. Maybe you’re looking for a turnkey business where you do very little or a franchise that will be your day-to-day job. Item 15 tells you what your expectations should be…
McDonald’s Franchisees Aren’t Lovin’ It
This last quarter marked the first drop in operating profits for McDonald’s franchisees in nine years. Franchisees aren’t happy about that. But many franchisees are angry because of what they see as the heavy discounting and undercutting McDonald’s corporate is doing in response. Ad Age reports that there have been…