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Franchising and Murphy’s Law
Posted by Ed Teixeira January 26, 2019
Murphy’s Law is well known among business people. Attributed to Neil Maskelyne in 1908, it states that: “Anything that can go wrong will go wrong”. I have observed that when it comes to franchising, Murphy’s Law comes into play more often than desired. In many cases, a new franchise takes off slower than anticipated and the franchisee has to look for a way to remedy the situation.
Read moreFranchise Candidates: Review Franchise Operations Manual Before Signing
Posted by Ed Teixeira December 20, 2018
During my franchising career, I’ve found it’s an exception when a franchise candidate reviewed the franchise operations manual before signing the franchise agreement. Considering the importance of the operations manual and its references in the franchise agreement it’s a surprising observation.
Read moreAttributes Of A Successful Franchise System
Posted by Franchise Grade Team February 1, 2017
The franchise industry sometimes receives mixed reviews including the occasional bad press. However, a look at the top tier of the industry reveals franchises that are successful for both franchisors and franchisee investors.
Read moreWhat Are Your True Labor Costs?
Posted by Franchise Grade Team November 11, 2016
So let’s discuss a huge potential profit leak in your business, which in my experience, affects most service related franchises and small businesses. So often franchise owners cut head count, advertising, marketing and communication expenses to try to improve the bottom line without realizing the real cause of the profit erosion.
Read moreBrands to Watch – Berkshire Hathaway HomeServices
Posted by Franchise Grade Team October 13, 2016
As the real estate sector continues to experience a resurgence, a brand that potential investors may want to consider is Berkshire Hathaway HomeServices (BHH). BHH is an affiliate of the parent company Berkshire Hathaway, owned by the highly successful businessman Warren Buffett. Buffett, with a net worth of $67.5 billion, is the third richest person in the world as of July 2016. While many businessmen with comparable wealth achieved their wealth through the acquisition of goods and product innovation, while Buffett’s empire is in the form of share certificates, the result of consistently smart investments.
Read moreFour Ways to Enhance Franchise System Success
Posted by Franchise Grade Team October 12, 2016
Like the owners of any business, those running successful franchise chains tend to manage their companies differently from their counterparts at unsuccessful systems. While much of what differentiates the best from the rest is similar to what separates all high performing companies from low performing ones – better products, employees, and appreciation of what customers want – research also shows that high and low performing franchisors design their systems in four fundamentally different ways: They have different rules about who can own outlets; use different mechanisms to control franchisee behavior; take different approaches to the time horizon of their agreements; and employ different policies toward advertising and brand name development.
Read moreThe Potential Advantages of a Partnership
Posted by Franchise Grade Team October 11, 2016
Many entrepreneurs need capital to start a business. Many times to secure that capital, instead of borrowing more money, or if they cannot borrow more money, they enter a partnership. This can be a good or bad move. There are advantages and disadvantages to a partnership. I have consulted with one business that worked fairly well and I have consulted with many that were dysfunctional.
Read moreThree Franchises that Cater to Parents
Posted by Franchise Grade Team September 5, 2016
An increasing number of parents find themselves in need of quality childcare. In the past, most women were expected to stay home to take care of the children. However, as a result of higher living costs and women gaining more independence most mothers are reluctant to leave their job when they have children. In 2015, 60.6% of households had both parents working. Single parent families often find themselves in need of childcare as they try to balance their job and home life. In these situations, it's important to have a child care provider that understands the needs of modern parents and can meet to their needs. Here are 3 Top Child Care franchises that cater to the needs of parents.
Read moreThe Great Recession and the Real Estate Sector
Posted by Franchise Grade Team August 1, 2016
It’s been almost a decade since the worst economic crisis in modern American history took place. The period between late 2007 and the summer of 2009, known as the Great Recession introduced severe economic conditions in the United States including high unemployment, declining real estate prices, high mortgage foreclosures and tight credit markets. Now, as economic conditions have improved and there has been a return to economic normalcy, there remains economic uncertainty remains in the minds of some people. This translates to some apprehension on the part of potential home buyers.
Read more5 Tips On How To Start A Successful Business
Posted by Franchise Grade Team July 19, 2016
Starting your own successful business can be rewarding. You have the opportunity to be your own boss. But it's also very difficult. Success or failure is squarely on your shoulders. According to Forbes, 8 out of 10 businesses fail within the first 18 months. So what makes the other 2 out of 10 businesses successful? Successful business owners have traits that lead to their success. Hard work, passion, creativity and focus are key traits of every business owner, so why are some successful and others fail?
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