Michael Hemenway Articles

Why You Should Work With a Franchise Consultant - Click To Read Article
A franchise consultant will make your journey to become a successful franchisee smoother; he will help you to carry out all the necessary research works and also assist you in selecting the right franchising company.

You Can Juggle a Franchise and a Family - Click To Read Article
Juggling work and family is very easy with franchising, as the franchisor helps the franchisees with many things. Still, try to maintain a separate timing for business and family affairs.

Why Owning a Franchise is a Better Way to Business Success - Click To Read Article
Franchising has many benefits over stand-alone businesses, including training, support and purchasing. It's a great way for people who are not great risk-takers can own their own business. And it's a proven strategy that usually works better than going out on your own

Why the Franchise Industry Continues to Thrive - Click To Read Article
The Franchise business is thriving at present and will continue to boom in future. This area of business helps newcomers to gain from the experience of seasoned players. Furthermore, the field has higher rate of success and there’s enough franchise opportunities to please anyone looking forward to buy a franchise.

When Net Worth Is Important to a Franchisor and How To Overcome It - Click To Read Article
A prospective franchisee’s application will depend considerably on his net worth. While it is a must, real good franchisor make an exception for the candidates who have other skills such as experience in the field of management or clean credit history. Franchisors that put net worth as the first criteria of selection often end up taking in bad candidates.

What You Should Know About Your Franchisor Before Signing On - Click To Read Article
You are required to choose the right franchisor, if you want to succeed as a franchisee. For that, check out the brand-name of the franchisor as well as the litigation history of the franchise.

Webinars Can Be a Valuable Franchise Industry Tool - Click To Read Article
Webinars can link franchisees and franchisors in a whole new way. Interested potential franchisees can get more information and explore web-based "discovery days" without the expense and hassle of traveling to the corporate site. Franchisors can create one webinar and allow franchisees to explore it at his or her leisure, without interrupting other work at the corporate level. Unlike a webcast, webinars can allow interaction, such as questions and clarifications.

Ways to Obtain Financing to Buy a Franchise - Click To Read Article
Getting the required financing is the first step towards starting a franchise. Some traditional methods are getting financing from one’s own savings, asking for loans from friends, going for bank or SBA loans and one unconventional way is to go for loans from credit-cards.

Tips on Running a Successful Franchise - Click To Read Article
Yes, it is everyone’s dream to own a successful franchise. It is not an unlikely occurrence and is possible! Here are some important tips on running a successful franchise. Choose the right franchisor. It is pertinent that you choose an established company with a proven track record and a good reputation. The franchisor should provide all …

Tutoring Portion of Franchise Industry Thriving - Click To Read Article
One of the most rapidly growing aspects of franchising is the child education system. With continued emphasis on getting ahead, the tutoring segment continues to grow.

Top tips for franchise success - Click To Read Article
To find franchise success, you must research about franchising thoroughly. You are supposed to know about the different categories of franchise opportunities available in the market and then settle on one, which will suit you the most. You should also think about the demand of the product/service in future as well as the demographics of your area.

Translate Your Current Job Skills to Franchise Ownership - Click To Read Article
Some kind of job skill is needed to qualify as a franchisee. You can have marketing, sales, administrative and management expertise to find success in the franchise world.

The Small Business Administration Can Be a Powerful Ally for Franchisees - Click To Read Article
The Small Business Administration is a market regulator for the franchise industry, providing guarantee for lenders, so that the market flourishes. By guaranteeing loans issued to small business owners -- including franchisees -- the SBA makes it easier to attain these loans. Franchise businesses get special considerations when it comes to attaining these types of loans.

The collective buying power of a franchise - Click To Read Article
The collective buying power of a franchisor results in getting good discounts for the raw materials. That, in turn, boosts up the profit margin of the franchisees.

Statistics Show Senior Care Category Will Only Increase - Click To Read Article
The senior-care industry is a thriving sector and is expected to undergo a major boom as the “baby boomers” start to retire. They are in sound health and have good money in their hands. But they too need effective assistance at times and that is exactly what is fueling the growth of this segment of the franchising industry.

Steps Youll Encounter When Purchasing a Franchise Business - Click To Read Article
The franchise purchase process is a long-drawn affair. There are many steps and those steps make sure that only a genuine candidate end up buying a franchise.

Social networking is an important part of franchise success - Click To Read Article
Social networking by the franchisors and franchisees work at different levels. Some of the social networking sites can be used to connect to the prospective franchisees whereas some websites are used to find new customers and check out the reviews of the products among the users.

Qualities to Look for in a Franchisor - Click To Read Article
The franchisor is the person who helps you to succeed as a franchisee. So, look for leadership qualities, experience and integrity while searching for a franchisor.

Pros and cons of franchise ownership - Click To Read Article
There are various pros and cons of franchise ownerships. While it’s true that starting a franchise is better than setting up a stand-alone business; it’s equally true that franchise business has its limitations. So, compare both the sides before you start looking for different franchise business for sale offers.

Questions to Ask Before Buying a Franchise - Click To Read Article
Understanding yourself and your motivations might be the best place to start when buying a franchise

No Matter the Economy, Some Franchise Categories Continue to Grow - Click To Read Article
A franchise opportunity should enjoy growth due to social or economical reasons. So, always verify this point while choosing a growing category and don’t fall for a “fad”. These franchises don’t last after some time.

Numbers Show Employment Franchises Won't Slow Down - Click To Read Article
Employment franchises are being touted by many as the category to look for in the coming years. The field has earned that place, because in the current shaky market, companies are cutting cost by outsourcing their HR jobs to various employment agencies.

Master Franchises Explained - Click To Read Article
A master franchise is a very coveted form of franchise business for sale offer. Only experienced persons or business entities with good net worth are given these opportunities. The main job of the master franchise is to sell the units of the franchisor in the targeted market to area developers, multi-unit franchisees as well as single-store operators.

Many Franchisors Prefer Multi-Site Operators These Days - Click To Read Article
Franchisors are increasingly taking in more multi-site franchisees because they provide several facilities. For example, this way, the franchisors don’t have to individually develop a territory one at a time and can expand at a faster rate.

Make the most of your franchisor's marketing plan - Click To Read Article
One of the things local franchisees in most cases is marketing assistance from the franchisor. The franchisor has built its marketing message on its products or services and knows how best to position the company. That said, it's up to the franchisee to make sure the marketing plan works in his or her area.

Make the Most of the Franchise Agreement - Click To Read Article
The market has been studied, the category chosen and now you're ready to sign the paperwork to purchase a franchise. Here's some of what you'll encounter in the franchise agreement

Make the Most of the Franchisee/Franchisor Relationship - Click To Read Article
A healthy relationship between the franchisor and franchisee is essential in running a franchising business successfully and the relationship rests on mutual trust and good communication.

Looking for Franchise Finance? You May Be Sitting On It Already - Click To Read Article
IRA and 401(k) can be used effectively to buy a franchise, but you must be very clear about the pros and cons of it. Though it’s tax deductible, but if you lose money by any chance, recovering the money at an advanced age can be a bit difficult.

Location is Crucial to a Franchisees Success - Click To Read Article
The location of a franchise concept is very crucial is a franchise business. You should judge the location based on demography of the area, income level of the people and prime purpose of the business. All these will influence whether you are going to succeed or fail as a franchisee.

Maintain a good working relationship with your franchisor - Click To Read Article
A stable relationship is a very important factor in the proper working of a franchise system. Both the franchisor and the franchisee are required to work hard to maintain it.

Low Cost Franchises Offer Way to Own Your Own Business - Click To Read Article
Low cost franchises come at a very economical price range. But it will be a good investment, only if the franchise opportunity comes along with comprehensive training and support system.

Landing That First Franchisee - Click To Read Article
For businesses wanting to get into franchising, finding the right first franchisee can feel like getting married. You've got to make sure your goals are compatible and that you like and respect each other. There are several other things that you should look for as well to make sure that you're in a long-term relationship

Key Factors to Franchise Success - Click To Read Article
There are various things, which you are supposed to do in order to find success as a franchisee. You must have the willingness to learn and be prepared to work with others. Being committed to your business and having patience can also bring in the desired results.

Kiosks Offer Advantages in Owning a Franchise - Click To Read Article
Kiosk franchises can offer a great low-cost way to launch a business and in fact, many owners will leap in with multiple locations. With a low start-up cost and low overhead, kiosks have terrific margins. Add in that the location practically forces a customer to interact and you have a winning business combination.

Is Your Franchise Ready to Expand? - Click To Read Article
If you are thinking about expanding your business, you have to look into certain points. First of all, you must know your customers’ profile and the market where they exist. You are also supposed to upgrade your training facilities and support system.

How Franchising Works - Click To Read Article
How franchising works? It starts with the franchisor finding success with his product/service and ends with the franchisee finding his.

Homebased and Mobile Franchise Keeps StartUp Costs Low - Click To Read Article
The home-based and mobile franchise opportunities have various facilities. Since they are home-based, the starting as well as running cost is low. Being a mobile van-based business, the franchisee is not required to remain confined at home all day and the van makes a great visual impact wherever it goes. There are many sub-categories in the home-based mobile franchise business.

Franchisee/Franchisor Relationship Requires Mutual Trust, Respect - Click To Read Article
Trust is the foundation of any good franchisor/franchisee relationship. The franchisee is entrusting his livelihood to the franchisor. The franchisor, in turn, is trusting the franchisee to protect the reputation of the franchise brand.

Franchising Is a Better Path to Success than Opening a StandAlone Business - Click To Read Article
The market seems ripe for franchises to continue to grow. Here's why it's a good business move right now.

Franchising Offers a New Career Path - Click To Read Article
The present economic situation of the country is forcing many to restart their career as a franchisee. But before taking the plunge, thoroughly research the market, have a good financial plan and take your family into consideration. Then, your business will stand the test of time and set you on a new career path.

Franchising Continues To be a Safe Way to Go in Troubled Economy - Click To Read Article
There are various areas where franchising scores over stand-alone businesses. First is that there’s a system to follow and that makes getting loans easy for the new players in this field. What’s more, the support system of the franchisor ensures that the person who is starting a franchise doesn’t have to face any problem while running the business alone.

Franchise Businesses Appeal to Women Entrepreneurs - Click To Read Article
There are a number of reasons behind the mutual attraction between women entrepreneurs and the franchise world. While the former loves this field for the flexible timing and broad range of choices, the latter gets experienced, ambitious franchisees who are willing to follow the rules of the business.

Franchise Industry Reaches out to Veterans - Click To Read Article
The VetFran program is for our glorious soldiers who are looking forward to a healthy civil life. The participation is voluntary and the member businesses offer various discounts to the prospective franchisees. It is one of the most popular programs of IFA.

Franchising Industry Has History Behind It - Click To Read Article
Franchising started as a process of granting privileges from the local sovereigns to carry out business. Gradually, it developed into a way of distributing finished goods. Then, the business turned into a full-fledged industry and acted as a safety net for the people. Various acts and the franchise associations brought some rules and regulations and the necessary professionalism into this field, which has now become one of the most stable pillars that is holding up the American economy.

Franchisors Moving Toward Preference of Multi-Site Franchisees - Click To Read Article
The tendency of awarding multi-sites by franchisors is a welcome move for the franchisees. It has attracted experienced corporate players, thanks to the numerous benefits this type of franchising has. Some of them include extra profit with lower marketing cost, rotation of employees and stocks and greater buying power.

Franchising Continues to Work Better Than a Stand-Alone Business - Click To Read Article
A franchise business offers you the peace of mind, which a stand-alone business can’t. In a franchise business, you don’t have to start from the scratch, but can reap great returns from the very beginning unlike a stand-alone business.

Find the Right Franchise Opportunity for You - Click To Read Article
Choosing the right franchising opportunity is essential. There are various factors to look for such as your interests and financial condition, the market for the product and the franchisors themselves. Moreover, you have to see how old the company is and also the support it is providing.

Factors to Consider in Determining Whether a Franchise Will Work in Your Area - Click To Read Article
Whether your franchise will work in your area or not will depend on various market factors. Prominent among them are the age-group, income-level and ethnic-diversity of the population in the targeted market.

Explaining the UFOC - Click To Read Article
The UFOC should be presented at the time the franchisee is asking for information. It sets the guidelines, which the franchisee and the franchisor are supposed to follow.

Factors to Consider Before Choosing a Franchise - Click To Read Article
Choosing the right franchising category is of utmost importance. You have to make sure that there’s enough demand for the service/product. Also, try to learn about the level of competition in that category.

Explaining the Differences Between the UFOC and the FDD - Click To Read Article
The new FTC rules have bought smiles in the face of the franchisors and franchisees alike. It has made giving earning claims easier for the franchisors while the franchisees are duly warned whether they have to compete against the franchisor or another franchisee within its demarcated territory.

Exploring the Four Types of Franchises You Can Buy - Click To Read Article
There are four kinds of franchise agreements available when you go to buy a franchise. The single-unit franchise is the most basic one while the master franchise program is the costliest one.

Factoring Can Provide Funds for Businesses in a Cash Flow Crunch - Click To Read Article
The process of factoring, or selling off accounts receivables, can be a valuable lifeline when companies hit a cash flow crunch. Find the right partner by seeking out a funding firm that deals with exactly your specifications. How does factoring work and what should you ask before getting involved?

Evaluate Complaints Against Franchisors Before Signing The Agreement - Click To Read Article
While starting a franchise business, checking out the legal history of the franchisor is a must. Take the help of your franchise attorney to look into any sort of litigation, bankruptcy and out-of-court settlement the company may have experienced.

Employment Franchises Show Continued Growth - Click To Read Article
The employment franchise opportunities are enjoying a surge in demand for their franchise business for sale offers. Due to the low economic conditions, companies are saving cost by outsourcing their HR jobs and hiring only from reputed employment agencies.

Does Your Concept Have What It Takes to Franchise? - Click To Read Article
To go a long distance, a concept must have something in it. That includes a USP, strong demand in the market and a business format that can adopt to a changing market.

Complicated Tax Laws Mean Tax Franchises Boom - Click To Read Article
Franchises that offer tax-related services may seem like a seasonal business, but it's a category that's booming, thanks to the complicated US tax code.

Can You Really Run a Franchise Part-Time? - Click To Read Article
Part-time franchising is being allowed by several franchisors nowadays. But to be one, you have to become an excellent judge of character. You also need to employ a manager who is an able taskmaster. Moreover, you are required to share your duties and power with him/her. But most importantly, your franchisor has to support you as a part-time owner.

Big Changes Coming in Franchise UFOC Meet the FDD - Click To Read Article
The UFOC is going to have a major change as per new FTC ruling and will be renamed as FDD. It has to be implemented by July this year. The changes include modification of the name of the items and major alterations in litigation history disclosure.

Benefits and Responsibilities of Franchise Ownership - Click To Read Article
The benefits and responsibilities of being a franchise owner are vast. Though you get a system of business to start with, but you will be responsible, if any term of the franchise agreement is broken. The support offered by the franchisor will benefit you considerably while starting the franchise. However, it’s your responsibility to ensure that the franchise operation runs smoothly.

Asking the Right Questions Before Beginning a Franchise - Click To Read Article
When you are starting a franchise, it pays to play the part of that annoying kid who asks thousand and one questions! But each question should be relevant to find out whether the franchisor actually knows how to franchise. So, ask about its vision and mission statement as well as the training and support you are entitled to get from your franchisor.

Are You Franchise Material? - Click To Read Article
To become a franchisee, you need to be a leader with good communication skills. Moreover, you should be a hard-working individual who is open to learning new ideas. Besides, you will also need the required money to become a franchisee.

Are You Ready to Start a Franchise? - Click To Read Article
Joining the franchise industry requires much thought and research for both the franchisor and the franchisee. A competent franchise consultant from a reputed consultation website can make their job easier.

Are You Ready to Work for Yourself? - Click To Read Article
There are certain things you have to keep in mind while you are thinking about working for yourself. You must have some experience and enough money to start a business of your own. Also, you need to make sure that you know which line of business you want to follow and that your family is with you.

A Good Business Plan Is Necessary, Even With a Franchise - Click To Read Article
A good business plan is necessary when you are starting a franchise. It will tell your bankers and other lenders you approach for loan about your reasons for pursuing a particular franchise opportunity. Your marketing, operational and financial plans for the franchise business you have bought are also discussed here.

5 Tips to Select the Right Franchise Opportunity - Click To Read Article
Selecting the right franchise is the first step towards franchise success. For that, you must check out the viability of the product/service you will be selling along with many other things. Consulting the present franchisees and looking into the litigation history of the franchisor are two of them. If you don’t want to do it all by yourself, consult competent franchise consultants.

Am I Cut Out to Work For Myself? - Click To Read Article
ot everyone is cut out to be a self-employed business person. To work for yourself, you are required to be an innovative and motivated individual and need to have a professional attitude.

10 Things You Should Know About Franchising - Click To Read Article
There are various things you are required to know before deciding to buy a franchise. It includes learning about the company and becoming aware how much you are capable of working for the business.


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