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5 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 moreHow to Inspire Loyalty and Boost Your Staff Retention (Part 2)
Posted by Franchise Grade Team January 5, 2015
The people inside your business make or break your success.
Read more3 Things Franchisees Must Do in 2015
Posted by Franchise Grade Team December 27, 2014
It is hard to believe, but 2014 is just about over. On to 2015.
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 moreWhat’s the Right Royalty Rate?
Posted by Franchise Grade Team December 15, 2014
Most franchisees pay franchisors a royalty, typically set as a fraction of the franchisee’s gross sales, in return for using the franchisor’s brand name and business format in the operation of their businesses. This royalty rate varies substantially, even across franchisors in the same industry. So how do franchisors decide what royalty rate to charge?
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 moreFranchisee Support and Assistance
Posted by Franchise Grade Team November 21, 2014
Franchisors often need to offer support to their franchisees. After all, the business model depends on providing industry novices with enough training and assistance to run their own businesses successfully. This post looks at four types of support and assistance that franchisors often offer to their franchisees to enhance their success: training, ongoing support services, real estate assistance, and financing. When deciding on the amount and kind of franchisee support to offer, franchisors must balance the need make their systems attractive to prospective buyers against attracting the wrong people to their systems.
Read moreThe Advantages of Franchising
Posted by Franchise Grade Team October 11, 2014
Like all business models, franchising offers advantages and disadvantages to those people operating companies. This post discusses three key advantages that franchising affords. (Next month’s post will consider the disadvantages). Would-be franchisees should consider these factors when deciding whether or not to buy into a franchise system because they explain why franchisors are interested in selling franchises.
Read moreUnderstanding Working Capital Financing Options For Franchises
Posted by Franchise Grade Team May 9, 2014
One of the oldest adages regarding starting and running a franchise is the answer to a common question; "What are the three most important aspects of a successful business?" and that answer is - "location, location, location."
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