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How To Find The Best Franchise Opportunities
Posted by Ed Teixeira November 26, 2018
Individuals looking to find the best franchise opportunities have a number of options to choose from. One of the options, the annual franchise ranking reports, are published on numerous websites and publications. These ranking reports include the Top 100 to Top 200 to Top 500 Franchises. The problem with relying on these rankings is they are limited. Many of them rely on the size and growth of a franchise system without analyzing important performance factors.
Read moreBefore 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 moreFranchisors Prepare to Answer These Questions the Right Way
Posted by Ed Teixeira January 29, 2018
As part of a franchise candidate’s due diligence process, it should be expected that certain questions will be directed to franchisor staff. Although many of the questions will be of the typical and usual variety, there can be certain questions that require a careful and detailed response. If a franchise candidate doesn’t receive the answer they expect, it will reflect poorly on the franchisor representative or franchise broker who is representing the franchisor. The better prepared a franchisor representative is to answer certain questions the right way, the better the impression the candidate has.
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 moreA Road Block to Franchise Growth is Right Under Your Nose
Posted by Ed Teixeira November 23, 2017
New franchise growth is the top priority for emerging franchise brands. Yet, many of these franchises have an obstacle on the road to more franchise locations. They miss the important step in the franchise process. That is at the beginning, a candidate needs to speak to a franchisor representative and the franchise does not provide one.
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 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 moreIt’s the Market Before Location, Location, Location
Posted by Ed Teixeira October 10, 2017
Anyone that’s worked in retail or franchising has likely heard the term location, location, location countless times. However, by placing so much attention on the location franchisors can overlook the importance of the market the location is serving. My saying is: “A good location in a poor market is the same as a poor location in a good market.” Often, poor franchisee performance is attributed to a poor location.
Read moreCrucial Statistics based on Franchise Industry Experience
Posted by Ed Teixeira September 27, 2017
For franchisors, brokers, attorneys and franchise financial investors to make the right decisions it’s important to have access to the right information. One of the benefits that Franchise Grade includes in our Franchise Intelligence portal is our Reports product. Acquiring data on specific franchise sectors and categories is a requirement that franchise industry professionals need to meet their objectives. This information extends to independent business owners who are considering franchising their business rather than simply relying upon the advice of a franchise consultant.
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