Buyer: Tire Kicker (4)
Share /
Prospective Franchisees Need to Know Why Some Franchisees Fail
Posted by Franchise Grade Team March 24, 2016
There can be a number of reasons why a franchisee can fail and before investing in a franchise opportunity, it’s important for franchise candidates to know the reasons why.
Read moreIt’s Time to Know Just How Marketable Your FDD Is
Posted by Franchise Grade Team March 11, 2016
Using the term marketable to describe a Franchise Disclosure Document might appear to be a misnomer, however, when one considers the relevance of an FDD it may be acceptable to use the term. This is because the FDD not only fulfills a franchise regulatory requirement but also presents a profile and performance summary of a franchise as well as a comparison to other franchise categories and systems.
Read moreFranchisors Should Evaluate Competitors on a Regular Basis
Posted by Ed Teixeira March 4, 2016
During current times, franchisors operate in a very competitive environment as they seek to attract and add qualified franchise candidates to their franchise network. As candidates look to obtain a favorable return on their franchise investment the most attractive franchise opportunities should be represented by the healthiest franchises. However, in the real world there are a number of franchise systems that don’t represent a healthy franchise system. Many of these unhealthy systems aggressively seek franchise candidates and compete for investment dollars. In order to grow their system franchisors need to offer the best opportunity and investment value to prospective franchisees. For these reasons, it’s important for franchisors to perform a competitive analysis of franchise systems that are direct and indirect competitors.
Read moreThe Most Critical Time in the Life of a New Franchisee
Posted by Franchise Grade Team January 31, 2016
In my experiences I’ve had the opportunity to observe a number of franchisee startups in several different franchise systems. One conclusion I drew from this experience was how important the first ninety days are to a franchisee startup. An important factor to this time period is the amount of support the franchisor provides to a new franchisee. When evaluating a franchise opportunity, a prospective franchisee needs to include the amount of services and support they can expect to receive during their grand opening and startup phase, on their checklist. This includes sample press releases, marketing materials, advertising support and on-site assistance.
Read morePlanning your Future: A Prospective Franchisee's Exit Guide
Posted by Franchise Grade Team July 16, 2015
A new franchisee must necessarily create a very detailed business plan for getting the new business from a great idea to a functioning, operating, profitable, and successful franchise. A critical but sometimes overlooked component of that plan is an “exit strategy”, which addresses two basic scenarios: Best Case and Worst Case.
Read moreResearching Vendors For Your Franchise
Posted by Franchise Grade Team April 3, 2015
Another of the many due diligence topics you need to explore and research for discussion with a potential franchisor is Vendors/Suppliers. This is especially true for most business in the franchise industry. All of them require a solid, reliable network of vendor contacts. These are the people who will be providing the initial and ongoing products and services to your franchise.
Read moreGetting Started as a Franchisee: After You Buy/Before You Open
Posted by Franchise Grade Team March 20, 2015
Once you’ve purchased a franchise and signed all the paperwork what’s next? Certainly your franchisor will be able to give you a list of things you need to do before you open the doors to the business. Most of these are tasks are spelled out in lengthy detail in the Franchise Agreement (FA). While you’ll need to read the entire document at some point, here’s a brief overview of the most important tasks you’ll need to attend to.
Read more5 Lessons Every Franchise Owner Can Learn From Ryan Leaf
Posted by Franchise Grade Team January 16, 2015
Leading up to the 1998 NFL Draft, the world was a buzz as to whether the Indianapolis Colts would draft Peyton Manning or Ryan Leaf. The Colts ultimately decided on Manning, and as they say, the rest is history. The San Diego Chargers picked Leaf. He did not last very long in the league. And now he resides in prison.
Read moreDealing with Customer Complaints
Posted by Franchise Grade Team October 4, 2014
Customers that appear to be difficult are usually caused because they are emotional. You must defuse the emotion before you can effectively work with them. This means effectively projecting empathy for their issues. Convincing the customer that you understand, that you feel badly for their problems and frustrations and genuinely want to help them will then normally allow you to hold a constructive conversation that can achieve a satisfactory resolution.
Read moreThe Most Important Buying Decision You’ll Ever Make
Posted by Franchise Grade Team September 9, 2014
Once you’ve decided which franchise to buy, what is the most important buying decision you’ll ever make to ensure its success?
Read more