Franchise (4)
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Why You Should Talk With a Franchise Lawyer Before You Buy a Franchise
Posted by Franchise Grade Team April 15, 2015
So you’ve decided to pursue a franchise opportunity and have done some preliminary research to determine if it is a good fit with your business goals and lifestyle. You’ve even identified where you’ll get the money to make the purchase. Before you proceed, consider the issue of “Due Diligence” – doing all the research and completing myriad tasks to ensure your success as a franchisee. One of the most critical due diligence tasks you can do is to talk with a good franchise lawyer BEFORE you make the purchase. Why?
Read moreTraining Resources For Franchisees and Business Owners
Posted by Franchise Grade Team April 8, 2015
Nearly every business in the franchising industry has its own vaunted pool of industry-specific “training resources”. For example: The restaurant industry has the National Restaurant Association (www.restaurant.org). Their training programs cover everything from training for the general manager to the people who actually prepare and serve the food. But there are also training resources for those who may not have decided on an industry to jump into; resources that can give you a bit more insight into what it takes to become a franchisee; to help with your decision-making. A couple of favorites:
Read moreResearching Vendors For Your Franchise
Posted by Franchise Grade Team April 3, 2015
Another of the many due diligence topics you need to explore and research for discussion with a potential franchisor is Vendors/Suppliers. This is especially true for most business in the franchise industry. All of them require a solid, reliable network of vendor contacts. These are the people who will be providing the initial and ongoing products and services to your franchise.
Read moreGetting Started as a Franchisee: After You Buy/Before You Open
Posted by Franchise Grade Team March 20, 2015
Once you’ve purchased a franchise and signed all the paperwork what’s next? Certainly your franchisor will be able to give you a list of things you need to do before you open the doors to the business. Most of these are tasks are spelled out in lengthy detail in the Franchise Agreement (FA). While you’ll need to read the entire document at some point, here’s a brief overview of the most important tasks you’ll need to attend to.
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 moreDon’t Get Stuck in Reverse!
Posted by Franchise Grade Team December 18, 2014
It's hard to hit a target facing the wrong direction.
Read moreHow to Inspire Loyalty and Boost Your Staff Retention (Part 1)
Posted by Franchise Grade Team December 12, 2014
A business succeeds or fails because of the people involved.
Read moreMaybe You Shouldn't Buy a Franchise
Posted by Franchise Grade Team December 10, 2014
In 1977, the senior execs at 20th Century Fox made an astonishingly bad decision. They signed over all merchandising rights for all Star Wars films to George Lucas in exchange for a $20,000 cut in Lucas’ studio paycheck. The combined revenue from Star Wars merchandising is estimated to have now exceeded three billion dollars, and continues to grow annually.
Read moreWhat Drives Your Desire?
Posted by Franchise Grade Team December 5, 2014
When was the last time you were obsessed with something?
Read moreThe Right Industries for Franchising
Posted by Franchise Grade Team December 1, 2014
The franchising business model works better in some industries than in others. That’s why more than half of all franchisors are concentrated in just ten industries. Would-be franchisees would do well to consider the fit of the franchising business model to the industry they are thinking of entering when deciding whether or not to buy into a system.
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