The Benefits of Purchasing an Existing Franchise
May 2, 2019
If you’re considering investing in a franchise opportunity, consider purchasing an existing franchise. Statistics indicate that businesses change ownership every four years and this includes franchises. Buying an existing franchise can offer advantages over investing in a new franchise:
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How Franchisors Can Choose the Best Franchise Candidates
May 2, 2019
A requirement for a successful franchise system is how well franchisors identify, qualify and select the best franchise candidates. Choosing the best franchisee prospects will help promote the brand; add enthusiasm to the franchise network, attract more franchisees and increase franchise revenues.
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The Overlooked Places Where Emerging Franchisors Can Find Capital
April 25, 2019
Sometimes it can be tricky for emerging franchisors to find investment capital. In addition to the more traditional sources including family, friends, and banks there are other places where franchisors can find investment capital. This article describes three sources of investment capital often overlooked by emerging franchisors. Each group has unique features, and, it's essential to have a well-written business plan, executive summary, and realistic and detailed financial projection.
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Positive Traits That Successful Franchise Systems Share
April 25, 2019
Prospective franchisees considering a specific franchise opportunity need to thoroughly evaluate each franchise opportunity. The information provided by Franchise Grade is based upon critical performance data from each Franchise Disclosure Document (“FDD”) and serves as the basis for grading each franchise. However, there is additional information not found in an FDD; this information represents positive traits that successful franchise systems share. Prospective franchisees can gather this information from various sources including existing franchisees, business brokers, and the franchisor.
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When Evaluating a Startup Franchise, Ask These Questions
April 18, 2019
Each year over 300 new franchise opportunities starts up. A study by Franchise Grade revealed that after four years 30.6 percent of startup franchises had 0 to1 franchise locations. Nevertheless, a franchise startup can provide several benefits for the franchise investor. These franchisee benefits include:
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How Franchise Candidates Can Land That Sought After Franchise
March 27, 2019
After investing time and effort to find the best franchise opportunity you desire, it is essential to inspire confidence in the franchisor, especially if it is a successful and highly sought after franchise opportunity. The best way to land that sought after franchise is to impress the franchise staff with your qualifications.
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Franchise Candidates Stick to Your Knitting
March 20, 2019
One of the most iconic business books, In Search of Excellence, was published in 1982 by Tom Peters and Robert H. Waterman. It remains known for its insight into the success of what was at that time the top performing companies in America. A critical tenet of the book remains as essential today as it was then. Namely, that companies should “stick to their knitting” or do what they do best and do not stray. We can apply the same reasoning to franchise candidates, namely, stick to your knitting.
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What Sub-Franchising Really Means
March 12, 2019
One of the most misunderstood franchise terms is sub-franchising, a term that not fully understood. Sub-franchising is frequently confused with other franchise models, including area developers, master franchisors, regional developers, and development agents.
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Before Buying a Franchise Critically Review Item 7
March 9, 2019
Before deciding to invest in a specific franchise opportunity, there is a process to follow, and an essential step in the process is to critically review Item 7 in the Franchise Disclosure Document ("FDD"). Item 7 describes the estimated franchise minimum and maximum investment in the franchise and is one of the critical items in the FDD. Before buying a desired franchise, it is essential that a prospective franchisee does a critical review of Item 7 of the FDD.
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Do A Franchise Profile Before Choosing a Franchise
February 18, 2019
Individuals considering a franchise need to do a franchise profile before getting too far in the process. Identifying your franchise profile means considering both positive and negative attributes. Quite often, a franchise candidate will be so impressed with a specific franchise opportunity, that the candidate plows ahead before considering how well their franchise profile matches a specific franchise opportunity.
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