|
Talking with Franchisees - How to make the most of your due diligence calls - Click To Read Article
When researching a franchise opportunity, one of the most important things you will do is to talk to current franchisees in the system. No one knows the business like those out in the field and, providing you build the proper rapport, they are likely to give you candid answers to your questions which will in turn help you decide if this opportunity is right for you.
You will want to speak with a number of franchisees, preferably some of whom are very successful and also some who are struggling. By reviewing the responses and comparing your own management style to those currently operating stores, you will have a better idea of where you might end up if you purchase this franchise.
How Can You Determine If A Franchise Will Work in Your Area? - Click To Read Article
Before New York Broadway producers bring a production on the road, they’ll test it in a few smaller cities to see if the humor or pathos translates well to different audiences. After all, not every town sees life in the same way as New Yorkers. A similar comparison could be made with franchised businesses. A concept that does extremely well in one location may not have the same appeal in a different part of the country.
Let’s imagine you live in Raleigh. While visiting friends in Scottsdale you discover they are franchisees of a business that provides landscaping to residential clients. They are doing very well and love the business. As soon as you get home, you research the concept and decide it is just what you’ve been looking for. But will this business do well in your area? The answer will depend on many factors.
Franchise System Failure - How to Avoid Buying a Franchise that Might Go Under - Click To Read Article
Statistics show that your chances for success as an entrepreneur may be greater if you start your new business as a franchisee, rather than opening a business all on your own. However, there are times when even franchise systems aren’t successful and around for the long term. Of course there are no guarantees but you can boost your chances for finding a franchise with stability by doing some additional research.
Should You Buy a Food Franchise? - Click To Read Article
If you’re thinking about buying a franchise, chances are you’ve considered one of any number of food franchises, and for good reason. Fast food franchises have changed the way America eats and are among the oldest and biggest franchises in the U.S.
But are you aware that food franchises can also be among the most challenging businesses to run? Before you invest too much time looking at which food franchise to buy, take time to weigh the advantages and disadvantages of owning a food franchise to determine if you have what it takes to be successful in this business.
What Do You Need to Pass a Franchisor’s Test? - Click To Read Article
Buying a franchise is a lot like marriage. Two parties enter into a relationship with the expectation of mutual benefit, long-term support and common goals. When entering into marriage, both people spend a great deal of time learning about each other and making sure they are a good match before making the commitment. The same is true for franchising. Both the franchisor and the franchisee gather information about each other and evaluate whether there is a good match. Although it may not be immediately evident, a franchise company is under no obligation to award a franchise to just anyone who can afford the franchise fee. In many cases a franchisor has as much or more at risk when a franchisee fails.
Franchisor Training Can Be Your Shortcut to Success! - Click To Read Article
If you are like most women, you chose a career path at the tender age of 18 or 19 and have dutifully followed that path for many years. But let’s say you’ve grown tired of your career, or worse yet, never liked it to begin with. What are your choices?
Stay where you are and make the best of it... Change careers and start all over at the bottom...
Take advantage of the training offered by a franchisor and become your own boss in any industry you choose!
Ask These Money Questions Before You Buy a Franchise - Click To Read Article
Congratulations on your interest in buying a franchise! The number of companies that have chosen to grow their businesses through franchising and the number of people who have decided to own their own business through franchising is a testament to the power franchising has to make dreams come true. But there are numerous questions you will want to have answered before you commit to anything and asking MONEY questions may be the most important.
Here are what we feel are the top money questions to ask – and get answered – when deciding on the purchase of a franchise business:
The Uniform Franchise Offering Circular (UFOC) - Click To Read Article
Franchising has a set of rules, and these rules are manifested in a document called the Uniform Franchise Offering Circular (UFOC). Each prospective franchisee of every franchise company in the U.S. will receive this document as a requirement of the Federal Trade Commission. Effective since 1979, the stated purpose of the FTC rule is:
"The Rule is designed to enable potential franchisees to protect themselves before investing by providing them with information essential to an assessment of the potential risks and benefits, to make meaningful comparisons with other investments, and to further investigation of the franchise opportunity."
In other words, the UFOC should provide you with enough information to be able to make an informed decision about purchasing the franchise.
How to Evaluate a Franchisor’s Training Program - Click To Read Article
Not long ago I took a trip to Tuscany and spent a week in a cooking class. Before the trip I spent time researching my options. I wanted to know who would be teaching the class, what courses and dishes would be covered, how hand-on the class was, if wine-pairings with the dishes would be addressed and if the class included trips to the local farmer’s markets to select fresh produce. Finding just the right cooking school was important to me because I would be spending a significant amount of money traveling to Italy and I wanted my experience to be well worth my time and effort.
For a woman interested in buying a franchise, evaluating the training a franchise business offers should involve even greater research – after all, this is about your future – not a vacation.
Your Style Can Predict If Franchise Ownership is Right For You - Click To Read Article
One way to become a business owner is through franchising and the franchise industry is at an all-time high. There are more franchised businesses than you can possibly imagine. A recent survey found almost 500 concepts in fast food alone, a category that represents only 20% of U.S. franchises. The IFA Educational Foundation’s Economic Impact of Franchised Businesses study indicates there were three quarters of a million franchised businesses in 2001.*
To see if franchising could be right for you, compare your previous business experience, your motivations and your current situation to the following examples.
* IFA Educational Foundation-FRANdata study released August 2006
Why Franchising Attracts Women Entrepreneurs - Click To Read Article
Have you ever wondered what it would take to leave the corporate world behind and own your own business? Are you tired of being the go-to girl, a small fish in a big sea, earning money for someone else? Is it time to take charge of your future and really be in control of
your destiny?
If you answered “Yes” to any of these questions, then you’ve thought about business ownership – but something has stopped you from moving forward. Was it lack of experience? Couldn’t think of a unique concept that would compete with established brands? Fear of the unknown? If so, you are not alone.
Like this article? Share it with your friends
 |
Related Businesses - Evan Elite Authors |
|
The Evan Elite Authors program is currently in beta phase. For details please contact us.
|
|
|
Kimberly Ellis
(Visit Kimberly's Website)
Kim Ellis is president of Bison
Advertising, Inc., a leading online
resource for franchises and business
opportunities. Drawing from a diverse
background in franchising, marketing and
operations, Kim specializes in Internet
marketing, lead generation and branding.
Prior to Bison, Kim served as vice
president of FranChoice, where she helped
establish one of the industry’s most
successful franchise referral networks.
Her responsibilities included franchisor
relations, brand management and lead
generation. Prior to FranChoice, she
served in executive positions for Regis
Hair Salons, Premier Hair Salons
International, and for a
business-to-business marketing agency in
Minneapolis. Her franchise experience
started with a family-owned Schwinn Bike
franchise and extended to her first
position after college with Great Clips
for hair. Currently, Kim serves as
chairperson for the International
Franchise Association (IFA) Women’s
Franchise Committee and as a member of the
IFA Supplier Forum.
|
|
 |
|
|
Kimberly Ellis's
Complete
List Of
Franchises
Articles
|
|
|
If you enjoyed this article, get Kimberly Ellis's Complete List of Franchises Articles For FREE!
|
| |
|
|
|
