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How The Entrepreneurial Spirit Can Lead To Unprecedented Heights
Posted by Erle Dardick May 12, 2014
When I was a kid in Montreal, Canada, I used to walk around the block knocking on doors asking to shovel sidewalks and driveways to make a few quarters. On one occasion, I actually shoveled the snow on my neighbor’s walkway before I knocked on the door. Luckily, I got paid anyways! Not bad considering I was only 10 years old at the time.
Read moreHow To Work On Your Business Not In It
Posted by Franchise Grade Team May 2, 2014
Most small business owners/managers are normally overwhelmed and have too much to do. This is because they spend virtually all their time working in the business rather than working on the business. While it is necessary to do a lot of work in the business in a start-up to reduce overhead costs and lower the breakeven point, not spending a good deal of time managing the work effectively prevents most businesses from optimizing their results.
Read moreThe Franchise Investment: Trust but Verify
Posted by Franchise Grade Team April 13, 2014
A number of franchise candidates exhibit a high degree of trust as they travel through the franchise process. In some cases it begins with the initial contact between a candidate and the franchisor representative and builds gradually over time. In other cases, the level of trust may arise at a certain point in the franchise evaluation process: for example, at a meeting with a franchisor representative or during a Discovery Day visit.
Read more5 Key Lessons for New Franchisees on Location-Based Marketing
Posted by Franchise Grade Team April 9, 2014
Back when my wife and I were expecting our third son, we made multiple shopping trips to both big-box retail as well as smaller specialty stores.
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 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 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.
Read moreThe # 1 Question to Ask Existing Franchisees
Posted by Franchise Grade Team January 13, 2014
Are you interested in investing into a franchise?
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