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Getting 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 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 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 Power of First Impressions
Posted by Franchise Grade Team December 3, 2014
First impressions are lasting. Frontline hourly employees are not. Before they’ve been on the job just six months, over 50 percent are gone. Some were probably not a good fit for the job in the first place, but some productive, dependable, hard-to-replace employees bolt too.
Read moreKnowing Your Break-even Point
Posted by Franchise Grade Team November 24, 2014
One of the biggest mistakes entrepreneurs make is not knowing the amount of sales required to break-even. This is especially true with start-up business. So very often start-ups and in a lot of cases, established businesses, take on too much overhead too soon in anticipation of future sales. Before taking on more overhead costs, you must determine your sales break-even point.
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