FAQs about Franchises

There are many questions that go along with getting yourself into a franchise operation. If you are going to be the owner of the franchise then you particularly want to know all the specifics about owning a franchise, so here are some questions and answer that many people will typically ask the company directly in order to know where to begin first.

Franchise Question #1: How Much Capital Do You Need?

Answer: The most obvious concern that one should think about before approaching a company for one of their franchise businesses is how much startup capital they will Read the rest of this entry »

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Secrets To Successful Franchising

Starting a new business can be a stressful time in any circumstance and more people than ever are turning to successful franchising opportunities as an alternative to the ordinary process of starting a business. The secrets to successful franchising are not especially difficult to master, and they all begin by an entrepreneur doing their homework in selecting an advantageous franchising plan that is best suited for business success. Read the rest of this entry »

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7 Costly Mistakes of New Business Ownership

It takes a lot of money to build a business, and you certainly don’t want to waste any. Check this list of 7 costly mistakes to avoid.

1. Letting emotions rule. Falling in love with a franchise concept is a common mistake. Don’t let your emotions guide your decisions. Use your head, do your due diligence and take the time to thoroughly investigate the franchisor’s offering. Read the rest of this entry »

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Franchise Breakeven Analysis

Breakeven analysis is a tool used to determine when a franchise business will be able to cover all its expenses and begin to make a profit. For the startup business, it is extremely important to know your startup costs, which provide you with the information you need to generate enough sales revenue to pay the ongoing expenses related to running your business. Read the rest of this entry »

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Franchising, What is it?

Franchising is a strategy that the Franchisor uses to achieve its objectives, including market penetration and market domination. Franchises are granted or awarded to a qualifying Franchise Candidate that has similar objectives in their own marketplace. That Franchisee will have the responsibility to fully implement the operating and marketing systems of the Franchisor in their defined area for a specified period of time. The relationship is not generally one of parity.
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The Six things you must have to buy a Franchise

Buying a franchise is a great way to start a new business.

In the long run a franchise can be much less costly to start and grow than a non-franchised business due to operating efficiencies, defined processes, and the advertising clout that the franchise name carries. Furthermore, many studies have shown that the success rate of a new franchise five years down the road will far exceed that of any new non-franchised business.

So even though franchises are a great way to start a new business, there is still that level of uncertainty that hovers over any new business venture. Is it really worth taking the risk? Yes – if you have the following six characteristics: Read the rest of this entry »

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Franchisees Profit from Growing Senior Care Market

By Karen Axelton

This growing market has created a big opportunity for franchise companies that cater to seniors. One of the hottest franchise business concepts is non- medical home care.

Non-medical home care companies handle tasks like personal care, light housekeeping, meal preparation, taking seniors to their appointments, monitoring their diet, grocery shopping, and simply providing companionship. The goal is to help seniors remain independent as long as possible. Read the rest of this entry »

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More and More Women Find Success in Franchising

There has never been a better time for women in franchising, and it’s more than a trend. “The opportunities are just going to get greater for women,” says Dina Dwyer-Owens, chairwoman of the International Franchise Association and chairwoman and CEO of The Dwyer Group, a franchise holding company founded by her father.

“There are so many more opportunities in franchising today than there were 30 years ago when I began,” explains Dwyer-Owens, who estimates that franchising currently covers about 80 industries, which practically guarantees that all women will be able to find a franchise concept they feel compatible with. More choices also mean the option to work from home and greater flexibility in hours. Read the rest of this entry »

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Helping Make the Shift from Combat to Franchising

By Glenn Rifkin

The Veterans Transition Franchise Initiative, or VetFran, a program sponsored by the International Franchise Association, offers veterans a discount on financing prospective franchises as a way of thanking them for serving the country.

Nearly 200 participating franchise companies provide qualified veterans “the best deal” in acquiring a new franchise, a deal not available to other franchise investors, according to Dina Dwyer-Owens, president of the Dwyer Group, a franchise organization in Waco, Tex. Read the rest of this entry »

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Franchises Getting Upper Hand Over Independents

arrow-up“Franchises have been far from insulated from the recession, but overall they have performed better,” says Jonathan Maze, an editor at Franchise Times, a trade publication.

On the whole, franchises will outgrow their nonfranchise rivals this year. They’re typically better positioned than mom-and-pop shops to survive downturns, benefiting from a strong brand presence, corporate wide marketing campaigns and access to advice and mentoring from the franchisor. Plus they can often offer customers — and get from suppliers — steeper price discounts. Read the rest of this entry »

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History of Franchising

History of FranchisingFranchising dates back to at least the 1850s; Isaac Singer, who made improvements to an existing model of a sewing machine, wanted to increase the distribution of his sewing machines. His effort, though unsuccessful in the long run, was among the first franchising efforts in the United States.

A later example of franchising was John S. Pemberton’s successful franchising of Coca-Cola. Early American examples include the telegraph system, which was operated by various railroad companies but controlled by Western Union, and exclusive agreements between automobile manufacturers and operators of local dealerships. Read the rest of this entry »

Top 5 Franchises

Courtesy of MSNBC’s Your Business

Jan 24, 2010: Some small business owners have decided to open franchises instead of going at it alone. Here’s Entrepreneur magazine’s list of top five franchises that could be worth the investment.

Interested in learning more about franchises? Visit this site on Franchising.

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Choosing a Food Franchise

Choosing a Food FranchiseThere are hundreds of options to choose from when it comes time for you to decide to open up a franchise of your own, but there are some important considerations that one must think about prior to doing so. Even though it may seem important to you to jump right into a franchise opportunity, being so careless about owning a franchise is just one way to enable a failing franchise from the outset! Read the rest of this entry »

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Thinking of buying a franchise?

DifferentOwning your own business is a great accomplishment for virtually everyone who has ever tried to succeed in business or marketing. However, if you don’t think you’re intelligent enough or don’t even want to attempt to start your own company from the ground up then one option that you always have is to start out with a franchised company. Read the rest of this entry »

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How to Calculate Franchise Startup Costs

Calculate Startup CostsThere’s no way you can start and build a successful small business if you don’t have the funds to back it up. Yet so many first-time business owners greatly misjudge the amount of money they’ll need to get their business off the ground. That’s why so many new businesses fail. You may think you have a pretty good ballpark estimate, but that’s not good enough. You need a detailed map with solid, well-researched numbers. Read the rest of this entry »

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Why Franchises are Good Investments

Good InvestmentThere are many different types of business individuals throughout the world, but one type of person that would take up a franchise as their own and succeed at it is someone who has an entrepreneurial type of attitude.

There are many reasons for investing in a franchise, but an individual who is a real go-getter and is able to get things done will realize the true Read the rest of this entry »

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Personal Mastery And Leadership

LeadershipIt is a responsibility of a leader to be a role model.  How can leaders be great role models?  Personal mastery can help individuals be a better person and also help leaders become role models.  According to Peter Senge, “The core to leadership strategy is simple: to be a model. Commit yourself to your own personal mastery.” Read the rest of this entry »

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What is the Best Franchise?

Franchise Guru: John Henning, discusses this question in detail in this short video. Push play to watch/listen.

Interested in getting more information on franchises? Visit this site on Franchising.

3 Ways to Help You Find Your Passion in life

Tropical BeachIt may be easy to say that you are ready to make certain steps in finding your passion. But once you have set your mind to do these, you will soon realize that nothing is really simple and easy when it comes to this. There are so many things to think about and issues to be settled before it finally becomes clear what you really want to achieve. Read the rest of this entry »

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Professional Franchise Information

Franchise InformationIf you are thinking about owning a franchise then there are some things that you must think about before starting out on the journey itself. It would actually be best to consider what’s all involved with owning a franchise of a company before you actually contact the company you’ll be working with because there may be a lot of hidden rules and regulations involved that it may not even be worth it in the first place. Read the rest of this entry »

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