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Should A Franchisor Support A Franchisee's Local Social Media Efforts?
Posted by Franchise Grade Team March 8, 2014
Recently I met with a franchisor that is quickly growing the franchise across Canada. What I discovered about the company’s social media surprised me…not because I haven’t seen evidence of it before with other franchises but because I’ve never met a franchisor state it quite as plainly as this one did.
Read moreA New Vision For Catering Out Of Restaurants
Posted by Franchise Grade Team March 6, 2014
All restaurant companies, big and small, operate in challenging times. Whether you are a franchisee, a franchisor, or an independent restaurant owner, the competitive landscape is difficult and complex. Markets are crowded and are shifting quickly, employees are difficult to recruit and retain, and regulatory groups are lobbying hard. Customers have many options, and getting them to spend more money in your restaurant has become increasingly difficult.
Read moreCan I use Google Media Tools to support my franchise operations?
Posted by Nate Riggs March 5, 2014
In late 2013 at the Online News Association ‘13 digital journalism conference, executives from Google introduced a new suite of tools.
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 moreIs Multi-unit Franchising The New Norm?
Posted by Franchise Grade Team February 14, 2014
The demand for multi-unit franchising is increasing and by all accounts it is here to stay. This phenomenon first came to light over 12 months ago when Frandata.com first reported that 52% of all franchises are now owned by multi-unit operators.
Read moreCan You Spot the Difference Between a Franchise Owner and an Entrepreneur?
Posted by Franchise Grade Team February 12, 2014
Recently, I had the great fortune to interview one of my business heroes, Michael Gerber, for my Franchise Euphoria Podcast. Gerber is a true legend of entrepreneurship. Inc. Magazine has referred to him as “the world’s #1 small business guru.” Gerber and his companies have helped tens of thousands small business owners transform their businesses into world class operations. He is the author of the mega-bestseller “The E-Myth Revisited” and 13 other business coaching books. And he is a huge proponent of franchising, when done right.
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 moreHow Social Media Could Shape Your Decision to Purchase a Franchise
Posted by Franchise Grade Team February 6, 2014
Social media communication can actually be a great indicator as to how a franchise system supports its franchisees. Once you’ve narrowed down your potential franchise choices, take some time to look at their social media and consider the following things.
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