Emotion: Fear
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Before Renewing Your FDD Have all the Facts
Posted by Ed Teixeira March 5, 2018
It’s that time of the year again when countless emails and solicitations are directed to franchisors reminding them to revise and renew their FDD. Although your franchise attorneys are best qualified to oversee this important activity it’s important to view the FDD renewal as a two-step process. By following our recommendations you’ll be assured of having a competitive, compliant and complete FDD.
Read moreThe Meaning of Changing Franchise Investments
Posted by Ed Teixeira December 13, 2017
A recent study by Franchise Grade® analyzed changes in the average franchise investments from 2013 to 2016 for the ten major franchise sectors. While there have been various changes in average franchise investments during this time, some changes were more dramatic than others. It’s important as a prospective franchisee to understand why certain changes take place. For example, in the case of the Real Estate franchise sector, the average franchise investment decreased by 46%, which was by far the largest decrease among the ten sectors. The reasons for this change can be attributed to the rebound in residential real estate values after the demise of the Great Recession. After suffering more than any other franchise sector Real Estate has been on the rebound.
Read moreIn Business Your Hand Does Not Shake . . . Ever!
Posted by Jeff Lefler October 31, 2017
I love the movie The Departed. Such an all-star lineup of Martin Scorsese, Jack Nicholson, Martin Sheen, Leonardo DiCaprio, Matt Damon, Mark Wahlberg and Alex Baldwin makes this movie one of the best ever. There’s a scene in the movie when Billy Costigan (played by Leonardo DiCaprio) is sitting in a counseling session with Madolyn (played by Vera Farmiga). He’s talking about his experiences working with Mr. French, a hitman for the mob.
Read moreThe Two Traits You Need in A New Hire
Posted by Jeff Lefler October 27, 2017
I’ve hired and fired many people in my business career especially during the early years of my businesses. Most of the firings were the result of hiring the wrong people. As I reflect on those experiences I realized that it was my responsibility that those people were fired. I was looking for the wrong traits when I hired those employees.
Read moreCollege and Business Are Like Oil and Water
Posted by Jeff Lefler October 25, 2017
To me, college is like a guided tour of a museum. You know what you’re going to see and often what the outcome will be before you even start. Someone holds your hand, shows you the way, teaches you and guides you through the journey. At the end, the finish line was always the same; you completed the tour and received your degree. You knew exactly what you were getting before you even started.
Read moreThree Reasons Why Your Business Could Fail
Posted by Jeff Lefler October 13, 2017
Starting a business can be exhilarating, challenging and rewarding. The excitement and thrill of building a successful business from the ground up is difficult to top. But the excitement and enthusiasm can quickly fade away to a daily grind and workload that can break some people. I’ve read that 96% of businesses fail within the first 10 years. To me, this statistic seems a bit high but the specific percentage doesn’t matter it’s the fact that most businesses fail within 10 years.
Read moreThe #1 Reason You Are Scared to Open Your Own Business
Posted by Jeff Lefler September 14, 2017
Owning a business is hard. I should know. Since I was 12, I’ve had a variety of business ventures from delivering papers to installing kitchen countertops, owning student rentals properties, investing into a Canada Bread franchise, operating a property management company and now Franchise Grade.
Read moreFranchisings Biggest Problem - Consumer Driven Investing
Posted by Jeff Lefler September 7, 2017
We all joke about the concept of a prospective franchisee investing into a franchise because they like the taste of the food. They went to an out-of-town restaurant on a Saturday night and it was packed so they want to bring it to their home town. They had a personal consumer experience with a company and were happy with the result. They’re passionate about the services offered to consumers by that franchise, so they’re excited about the brand.
Read moreThe Quality of Trade Show Booths and Knowing Where to Invest
Posted by Jeff Stephenson July 19, 2017
Are you heading to a trade show to find your next franchise investment? Pay attention to the quality of the booths and you will learn where to invest.
Read moreWhat is the Burden of Business Ownership?
Posted by Jeff Lefler April 28, 2017
As a business owner, responsibility for decisions begins and ends with me. Decisions I make today will impact the future of my business and ultimately my company’s success.
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