Franchise (9)
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The Only Personality Type You Ever Need To Hire
Posted by Franchise Grade Team February 25, 2014
The personality type of your staff determines your business’s success.
Read moreCollege Freshmen, Business Ownership and a Poor Economy
Posted by Franchise Grade Team February 18, 2014
For those of you searching for some good news about the persistently sluggish economy, here’s something: The weak economy appears to motivate college students to want to be successful business owners.
Read moreWhen Identifying a Franchise Opportunity: Know Where to Look
Posted by Franchise Grade Team February 16, 2014
Investing in a franchise is a life altering experience for most individuals and involves taking a risk with your money. In my last blog, I described the importance of doing a profile before pursuing specific franchise opportunities. This should include your strengths and weaknesses as well as your financial profile. If you followed my advice you’ll be in a better position to identify franchises that most closely match your financial, personal and business profile. Your next step in the franchise process is to find 3 to 5 franchises and perform a preliminary evaluation on these franchises. You’ll want to do this before you spend money on franchise attorneys and accountants. If you decide you want to utilize a franchise broker, keep in mind that they represent a limited number of franchises and they are paid by the franchisor when a candidate they submit purchases a franchise. A large number of franchises are not represented by brokers. Avoid being swayed by impressive franchise websites with claims of easily achieved success.
Read more3 Common Ways To Obtain Working Capital For A Franchise
Posted by Franchise Grade Team February 10, 2014
Franchises need working capital. Just like every other business on this planet. Not all businesses need equipment. Not all businesses need inventory or commercial property or even labor. But, all businesses need working capital to ensure that their operations are running smoothly enough to generate revenue day-in and day-out.
Read moreFranchise Marketing – What the Franchisor Should Provide
Posted by Franchise Grade Team February 8, 2014
When you buy a franchise, you’re buying a BRAND. You should expect that the franchisor has developed a strong marketing program for you so that you can achieve the success that you expect. When you’re doing your research on a franchise, checking out their marketing is some of the most important analysis that you do.
Read moreSales Systems For Closing More Restaurant Catering Business
Posted by Franchise Grade Team February 5, 2014
When discussing a consistent and predictable sales system for a catering team, I like to remind people that the formula should be basic and easy. It does not need to be overcomplicated in any way and this is true if you have one store or 100. However, I'd like to recommend that as a franchisee, you commit to a consistent catering selling language and system for closing sales.
Read moreWhat is Better Than Increasing Minimum Wage?
Posted by Franchise Grade Team February 2, 2014
There has been a lot of press recently about the wages of fast food and retail employees. While this is a very real issue, Money, however, is not the number one issue among employees. Survey after survey indicates that recognition is the number one need of most workforces.
Read more3 Stress Busting Tactics for Business Owners
Posted by Franchise Grade Team January 24, 2014
Owning your own business isn’t just another job. You’re the captain of your fate now, and with that great power comes responsibility. The buck stops firmly on your desk. You’re not just responsible for taking care of yourself and your family - your team are depending on you too.
Read more5 Tips for Better Multi-Unit Franchise Management
Posted by Franchise Grade Team January 20, 2014
When it comes to managing multi-unit franchises, there is no such thing as a dull day. Whether you have 2 locations or 200, there will always be operational issues that make managing a challenge. For that reason, it’s important to use tools and technology to make managing your franchise as streamlined as possible. Here are 5 tips to help you manage your multi-unit franchise:
Read moreUnderstanding the Economics behind Franchisor-Franchise Conflict
Posted by Franchise Grade Team January 17, 2014
While buying a franchise can offer would-be business owners the benefits of an established brand name and a proven operating system, it can also mire franchisees in legal disputes. Because many disagreements between franchisors and franchisees stem from the disparity in how the two parties earn money, developing a basic understanding of these differences should help would-be franchisees avoid a heap of trouble later.
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