If you’re dreaming of starting a business but you aren’t sure what kind of business to start—or where to start—the ideal solution may be to buy a franchise. In fact, Guidant Financial has gone so far as to dub 2019 the “Year of the Franchise” based on trends in its latest Small Business Trends survey. […]
Want to Start a Business? Maybe You Should Buy a Franchise Read More »
By Jeff Swiggett You would love to operate your own business, and over the years you’ve set aside money to invest in a company to fulfill this lifelong dream. And when it finally comes time to buy a business of your own, you’re left with two options: investing in a franchise opportunity or buying an independent
Buying a Franchise vs. an Independent Business: What Are the Pros and Cons? Read More »
Are you dying to start a business–now? Entrepreneurs are impatient by nature, so going through all the steps required to start a business—from writing a business plan to finding a location and applying licenses and permits—can be sheer agony for many. There are two shortcuts to starting a business that can put you in the
By Josh Cohen When you buy a franchise, you’re not starting a business from scratch, but you still have work to do. Many new franchisees underestimate what it takes to succeed—they don’t realize there’s more to franchising than just picking a brand and opening a new location. Becoming a new franchisee is an uphill climb
3 Biggest Challenges Every Franchisee Faces—And How to Overcome Them Read More »
Is your small business profitable and growing? Do you constantly get out-of-town customers wondering when you’re going to open a location in their neighborhoods? Are you secretly kind of bored running just one, smoothly operating location and want to feel the excitement of your startup days again? If your answer to these questions is an
6 Important Questions to Ask Yourself Before Franchising Your Business Read More »
Franchising a business can be an exciting prospect for many entrepreneurs. You have found success locally, and are now ready to expand well beyond your home base. But while the prospect of going nationwide is exciting, there are a number of issues to be aware of. That’s why we asked members of Young Entrepreneur Council (YEC)
Is Now the Right Time to Franchise Your Business? Read More »
By Eric Stites Dennis Monroe had worked in operations management for over 30 years when he decided to buy a ColorAll franchise (an on-site auto body repair service) with his business partner. The pair owned and operated their ColorAll franchise in Phoenix, Ariz., for nine years before exiting the business and retiring. Looking back on his
By Eric Bell Investing in a franchise requires extensive due diligence. Not only do investors need to understand the initial costs and what financing options are available, but they also need to carefully research the franchise model, the franchisor’s experience, the franchisor’s approach to running the business, and the culture of the franchise. Just as
5 Questions to Ask Before Diving Into Franchise Ownership Read More »
Did you know that you must go through an interview in order to invest in a franchise? If you want to become a franchisee, your first order of business will be to speak with the franchisor (or a representative on their behalf). The franchisor will ask you questions about your background and goals, if you
Important Questions to Ask Before You Buy a Franchise Read More »
By Bruce Hakutizwi There’s no doubt that buying into the right franchise at the right time can be a fantastic business opportunity for numerous reasons: Proven, duplicatable systems make startup and growth easy and scalable Established branding and national marketing support enhance your own marketing efforts Support from a parent company and community of fellow
