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Buying a franchise? Avoid these costly mistakes - Click To Read Article
Buying a franchise? Avoid these costly mistakes.
It takes a lot of money to build a business, and you certainly don't want to waste any. Check this list of 7 costly mistakes to avoid...
Kids and Pets Still Popular - Click To Read Article
Kids and Pets: Still Popular
Kids represent huge opportunities for franchise companies. There are 4 million babies being born every year in the U.S. and most families are dual-income households. That combination has created $60 billion in annual revenues for the childcare industry. As the number of children increases, so does the competition to get into the best schools. Parents are feeling the pressure to help their kids get a competitive edge and a growing number are willing to pay for supplemental education services. In this issue we talk to Dr. Nick Whitehead of Oxford Learning and Amy Peterson-Smith of Kiddie Academy to get their views on the business of kids.
How to Sell Franchises at Trade Shows - Click To Read Article
Trade shows are well known as suitable venues for selling franchises. Trade shows aren't looking to attract franchise buyers; they're focusing instead on attracting target audience. That target market could be your franchise company's industry.
Debunking Franchise Myths - Click To Read Article
We all know the upside to franchising: proven systems, training and support, purchasing power, brand recognition, and lower risk of failure top the list. But before you utter those three little words, "it's all good," take a reality check. Consider this list of common myths surrounding franchising and get the true facts...
The Multi-unit Movement benefits Franchisors and Franchisees - Click To Read Article
There is growing evidence of a trend toward multi-unit and multi-brand ownership. The advantages to both franchisors and franchisees are clearly compelling, and dramatic growth in multi-unit and multi-concept franchising is expected over the coming years. Read more...
The Money Connection - Click To Read Article
New franchisees need to come up with a lot of money, especially when considering the total cost of building a location, supplies, overhead, and living expenses while you get started. Franchisors need to find big bucks, too, especially when they're trying to keep up with the demands of a growing system. Where do franchisees and franchisors find the money to finance their franchise dreams? We talked to Bernard Siegel of Siegel Capital and John Rinaldi of Irwin Franchise Capital for their views on how to make the money connection.
Good Health and Beauty--Always in Style - Click To Read Article
Good Health and Beauty - Always in Style
The business of making our bodies look and feel good has never been healthier. The hair care industry alone rings up over $55 billion a year in the U.S. And while the massage industry isn't that big yet, the field has exploded over the last few years, rising to $6 billion annually so far. According to the American Massage Therapy Association (AMTA), getting a massage has become a mainstream practice - consumers last year visited licensed massage practitioners 114 million times. In this issue we talk to John Marco of Hand and Stone Massage Spa and Raymond Barton of Great Clips to learn why their franchises shine.
Retail Franchises, No Food Served - Click To Read Article
Retail Franchises, No Food Served
When it comes to retailing, food-related concepts continue to dominate the world of franchising. One franchisor we talked to remarked, "there seems to be no end to the new ways you can make a sandwich." But for many of the corporate dropouts looking into franchising as a second career, moving into food service lacks appeal. When we went looking for some non-food retail franchises, we were pleasantly surprised by the number of interesting and profitable ideas. In this issue we talk to Ray Margiano of Foot Solutions and Bob Wilke of HobbyTown USA to get their views on franchise retail concepts.
What is a UFOC Uniform Franchise Offering Circular - Click To Read Article
What is a UFOC? What Does the UFOC Contain? How Do I Use this Franchise Document? Description of Standard UFOC Items
From the Publisher: Kids & Pets - Click To Read Article
At FranchiseHelp we have information, services and products for the entire franchise marketplace. One of the largest groups we attract is the Potential Franchise Buyer and the one question I hear the most is, "What do you think are the hottest categories of franchise businesses today?"
In this month's issue we address two of the current favorites: Kids and Pets. By "kids" we refer to all the franchises which are geared to providing children's services and products, pretty much from birth to college age. In that same vein, the popularity of "pets" franchises have come to encompass not only the standard dog and cat services and products, but also tropical fish, iguanas, and various exotic creatures.
Franchise Buying Tips: Purchase Without Passion - Click To Read Article
Pop quiz: what's the number one rule of buying a franchise? If you answered: meet with the franchisor, go with a popular brand, or read the UFOC - you're wrong. The first rule of buying a franchise is this: Do Not Buy On Emotion.
Franchise Discounts for Military Veterans - Click To Read Article
VetFran is a simple voluntary program designed to be a win-win. It provides franchise companies with a pool of exceptional potential franchisees while offering very real help to veterans who want to acquire a franchise.
Ask the right questions before you buy a franchise - Click To Read Article
You're in the market for a franchise and after months of reading brochures, watching slick videos, and poring over UFOCs, you've pared down the list of possibilities to two or three. Now what? It's time to meet with these franchisors and start asking questions. You may feel like you're already on information overload and the franchisors have been eager to spill their guts, so what more is there to know? Ask the right questions, listen closely to the responses, and you'll be surprised how much more there is to learn. The UFOC provides answers to many of these, but you should expect details and clarification.
Before you Buy: How to Interview Franchisees to Get the Real Scoop - Click To Read Article
The most honest and forthcoming franchisor can’t tell you what it’s like to be a franchisee. So, you should take the time to call existing franchisees and get some candid answers to your questions. Be careful that you don’t get a limited list of hand-picked contacts. It would be a waste of time to talk only to the most successful operators or those who are coached to give the “right” answers. Calling franchisees at random will give you the clearest picture of what you’re getting into.
Tips to Succeed at Franchise Expos - Click To Read Article
Expos can offer fertile hunting grounds for franchisors. But there's a considerable investment required in terms of time, money, and effort. Make sure your investment pays off by checking out this list of tips.
10 Tips for Selecting the Best Franchisees - Click To Read Article
Franchisors, the following tips will help you find qualified, competent franchisees who can and will promote the brand, add value to the organization, boost the unit success rate, and increase revenues and market penetration.
For Franchise Buyers: What the UFOC Tells You - Click To Read Article
Tips on how to understand and use the Uniform Franchise Offering Circular.
A Checklist for Franchising Your Business - Click To Read Article
Franchising your business is a major undertaking. Here is an essential to-do list for the prospective franchisor.
International Franchising-A World of Opportunity - Click To Read Article
It's a big wide world out there with billions of consumers and tons of profits to be made. Expanding a franchise company into international markets is an exciting and potentially rewarding venture. Is your franchise ready to take on the world? We went to the experts and those who have done it to learn what it takes to move a franchise concept from country to country. In this issue we speak with Joe Lindenmayer from TSS Photography and Craig Slavin from Franchise Architects to get their views on international franchising.
The Latest on Casual Dining - Click To Read Article
The Latest on Casual Dining
Casual dining has been the darling of the franchised food service industry for decades. But the slowdown in same store sales in recent months raises some interesting questions. Does the price of gas really affect the dining habits of consumers? Does it matter if mortgage rates go up? Or are consumers getting bored with the same old fare? In this issue we talk to Ron Paul of Technomic, Inc. and Ron Parikh of Genghis Grill to get their thoughts on why some casual restaurants are hot while others are not.
Franchise Discounts: Straight from the veteran's mouth - Click To Read Article
VetFran is a program created to help veterans who want to own a franchise. We thought it would be interesting to talk to a real life veteran who actually took advantage of VetFran to get the real scoop, so we interviewed Lenny Geibel, owner of Spring-Green Lawn Care in Lawrenceville, Georgia.
Finding the Money for a Franchise - Click To Read Article
The cost of buying a franchise can be substantial, but you don't have to be a trust fund baby to get into the franchise of your dreams. Find out more...
Should You Franchise Your Business? - Click To Read Article
Practical advice for all with "Should you franchise your business?"
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Mary Tomzack
(Visit Mary's Website)
MARY E. TOMZACK is the President and
Founder of FranchiseHelp, Inc. She is a
noted franchise expert and the author of
Tips & Traps When Buying a Franchise
(First publication,1994,McGraw-Hill; new
and completely updated, revised edition,
1999,Source Book Publications). Ms.
Tomzack is often interviewed for franchise
articles in publications such as The New
York Times, "Franchise World" and
"Entrepreneur Magazine."
Reach her at (914) 347-6735 or at m
tomzack@franchisehelp.com or co
mpany@franchisehelp.com
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