Franchise Start-up: Engage Professionals to Eliminate Costly Mistakes
Franchise Start-up: Engage Professionals to Eliminate Costly Mistakes
Depending upon the scale of your business investments, it is important to hire professional help to guide you through the whole business process. A “penny wise pound foolish” approach can lead to disaster in starting any new business. Especially in case of a franchise business, there are countless instances where the gullible entrepreneurs get trapped by one-sided franchise agreements that unfairly favor the franchisor. Therefore, if you start off on a wrong footing, the consequences will have to be borne later on.
The following professionals can be your key to ensuring that your new start-up is going in the right direction:
Franchise Consultant: This can be an individual or a company that works as a broker or middleman between franchisors and the potential franchisees. They will charge their commission usually from the franchisors, and will provide you with valuable information about the various franchise options available in the market. They can widen your horizons by informing you about several new and promising franchisors that are coming up with attractive offers and opportunities.
Franchise Solicitor: Once you have zeroed in on the right franchise opportunity, it may be critical to hire the services of a professional franchise specialist lawyer who can review and negotiate the terms of the franchise agreement between you and the franchisor. He can ensure that you do not trapped by any misleading or tricky conditions hidden in the fine print of the agreement. Furthermore, this lawyer can also ensure that your franchise business fulfills all legal formalities and obligations that may be necessary to start the business.
Financial Consultant: If you are looking to raise funds through loans or other debt instruments, this individual or company can guide you to the cheapest sources of funds and give you valuable investment advice that can save you enormously in terms of costs of finance in the long run.
Accountant and Tax Specialist: A good accountant and a good tax expert can make sure that you avail of all the tax benefits to the maximum and fulfill all accounting requirements efficiently. A good cost accountant can also help you to eliminate wastages in your operations and save you substantial amount of money in the long run.
The new start-up must remember that hiring professional help is expensive, and judiciousness must be exercised in its usage. Ultimately, it is the entrepreneur that is the best judge of his situation and must apply his own critical evaluation for the kind of professional assistance that may be profitable for the business.
Franchise Startup Engage Professionals to Eliminate Costly Mistakes - To learn more about this author, visit Naren 's Website.
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In a challenging business environment where competition is extremely high and too many players fighting for the customer’s dollar, it is not so easy to succeed with a new start-up. In the business world, the law of the jungle still holds true as ever – survival of the fittest. There are no second chances, and there is no room for costly mistakes. The investments once made are usually irreversible therefore the decision-making process must be extremely cautious for a start-up, and due diligence must be exercised at every stage.
Depending upon the scale of your business investments, it is important to hire professional help to guide you through the whole business process. A “penny wise pound foolish” approach can lead to disaster in starting any new business. Especially in case of a franchise business, there are countless instances where the gullible entrepreneurs get trapped by one-sided franchise agreements that unfairly favor the franchisor. Therefore, if you start off on a wrong footing, the consequences will have to be borne later on.
The following professionals can be your key to ensuring that your new start-up is going in the right direction:
Franchise Consultant: This can be an individual or a company that works as a broker or middleman between franchisors and the potential franchisees. They will charge their commission usually from the franchisors, and will provide you with valuable information about the various franchise options available in the market. They can widen your horizons by informing you about several new and promising franchisors that are coming up with attractive offers and opportunities.
Franchise Solicitor: Once you have zeroed in on the right franchise opportunity, it may be critical to hire the services of a professional franchise specialist lawyer who can review and negotiate the terms of the franchise agreement between you and the franchisor. He can ensure that you do not trapped by any misleading or tricky conditions hidden in the fine print of the agreement. Furthermore, this lawyer can also ensure that your franchise business fulfills all legal formalities and obligations that may be necessary to start the business.
Financial Consultant: If you are looking to raise funds through loans or other debt instruments, this individual or company can guide you to the cheapest sources of funds and give you valuable investment advice that can save you enormously in terms of costs of finance in the long run.
Accountant and Tax Specialist: A good accountant and a good tax expert can make sure that you avail of all the tax benefits to the maximum and fulfill all accounting requirements efficiently. A good cost accountant can also help you to eliminate wastages in your operations and save you substantial amount of money in the long run.
The new start-up must remember that hiring professional help is expensive, and judiciousness must be exercised in its usage. Ultimately, it is the entrepreneur that is the best judge of his situation and must apply his own critical evaluation for the kind of professional assistance that may be profitable for the business.
Franchise Startup Engage Professionals to Eliminate Costly Mistakes - To learn more about this author, visit Naren 's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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