Employee: The General
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Top Franchises Know Their Competitors
Posted by Franchise Grade Team May 9, 2017
Having good competitor intelligence is important for selling new franchises and growing existing franchisee revenues. One major difference between the top franchises and the rest of the franchise industry is that the top franchises have an in-depth understanding of their competitors. Knowing which franchises are a threat to your franchise network development requires diligence and acquiring the right information. This means knowing who your competitors are - their strengths and weaknesses. I often hear comments from franchise executives that their franchise system is unique and impervious to competition. As my marketing professor told our class many years ago: “No one owns the market.”
Read moreFranchisors Should Avoid the Danger Signs of SBNO
Posted by Franchise Grade Team March 9, 2017
In the franchise industry, the sale of new franchises is often used to measure the strength of a franchise program. Fast growth franchise programs may be considered a predicator of success and some franchises have grown to thousands of locations. However, they represent a small percent of all franchises. This type of fast growth can lead a franchise program into trouble. An indicator of this can be found in the Item 20 category of the FDD, under Sold but not Opened (SBNO).
Read moreAnswer These 5 Questions Before Buying a Franchise
Posted by Franchise Grade Team February 24, 2017
Anyone that’s considering buying a franchise and investing their money should answer five important questions before making, what for some, is a life altering decision. When people invest in a franchise it has to be for the right reasons. If they fail to do this, they can end up being the owner of a failed franchise business, which can cost them their investment and more.
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