Emotion: Dissatisfaction (2)
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The #1 Reason Not to Open Your Own Day Care
Posted by Franchise Grade Team October 24, 2016
Buying a business is not a transaction to take lightly. It is a life changing decision and whether it is a positive or negative change depends on whether or not you can make a steady profit. Opening your own daycare may be your dream but it takes a huge amount of devotion, time and money. There are many challenges when you become an entrepreneur. Luckily, some of these challenges can be avoided by choosing to invest in a children's services franchise instead of doing it on your own.
Read moreChildren's Services Franchise Systems Are Growing Up
Posted by Franchise Grade Team October 14, 2016
The children's services franchise sector is one of the fastest growing within the franchise industry. From our Sample of 106 children's services franchise systems, this sector has seen franchised outlets increase by 12.1% since 2010. Children's franchises represent only 2.1% of the industry outlets but account for a staggering 6.3% of industry outlet growth.
Read moreAutomated Phone Systems are a Barrier
Posted by Ed Teixeira May 6, 2016
If one were to ask franchisors what their top priority is, odds are that the overwhelming response would be to grow their franchise network with qualified franchisees. Yet, a number of franchisors continue to place a major roadblock on the road to achieving their objective. My opinion is based upon personal experience regarding how difficult it is to connect with a live person in many franchisor headquarters. For a number of years, businesses including franchisors, have replaced the position of receptionist with an automated contact system. Unfortunately, when pressing the number for the franchise department the response is often voice mail. I’ve even received the message: “The franchise department is closed” without instructions for leaving a voice mail.
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 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 moreFranchisee Support and Assistance
Posted by Franchise Grade Team November 21, 2014
Franchisors often need to offer support to their franchisees. After all, the business model depends on providing industry novices with enough training and assistance to run their own businesses successfully. This post looks at four types of support and assistance that franchisors often offer to their franchisees to enhance their success: training, ongoing support services, real estate assistance, and financing. When deciding on the amount and kind of franchisee support to offer, franchisors must balance the need make their systems attractive to prospective buyers against attracting the wrong people to their systems.
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 moreUnderstanding the Economics behind Franchisor-Franchise Conflict
Posted by Franchise Grade Team January 17, 2014
While buying a franchise can offer would-be business owners the benefits of an established brand name and a proven operating system, it can also mire franchisees in legal disputes. Because many disagreements between franchisors and franchisees stem from the disparity in how the two parties earn money, developing a basic understanding of these differences should help would-be franchisees avoid a heap of trouble later.
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