Franchising is based on a relationship between the brand owner and the local operator to skillfully and successfully extend one’s established business system (for a more detailed description of franchising, check out our post on Franchising Fundamentals). Let’s first take a look at business ownership…
If you’ve been on the lookout for a franchise to invest in, the COVID-19 pandemic may have put a pause on your plans. There’s a lot of fear and uncertainty circulating within the economy, but fortunately, it does not necessarily mean that you need to…
Being the new owner of a franchised business requires a different working mentality from the common employee. You may be wondering if opening a franchise is a good idea or if you would be better off starting your own business from scratch or, perhaps, even…
Investing in a franchised brand that has already experienced growth and success makes it easier to get started with business ownership. With the ongoing support and resources that franchisees have access to and the brand recognition that often comes along with franchising, it is a…
The Opportunity in Fitness for Franchisees The fitness industry is a $30 billion industry in the United States. With the emergence of novel concepts in focused fitness, there is a lot of untapped potential for franchisees. Many medical fitness facilities and boutique gyms are just…
Knowing how to purchase a franchise and set up a business plan can make or break your success as a franchisee. Understanding the nuances of buying a franchise can seem to be a barrier to entry for some aspiring franchisees. But franchising is nothing to…
When it comes to franchising, there are many common myths that can put off prospective franchisees and influence their ability to start a business. When making a decision regarding franchise ownership and buying a business, it’s important to separate fact from fiction. Franchising has its…
Once you decide to move forward with the purchase of a franchise, the franchisor will provide you with a Franchise Disclosure Document (FDD). The FDD should be given to you at least 14 days prior to signing the Franchise Agreement. What is the FDD? This…
Franchising is the perfect opportunity for anyone looking for a career change, a fresh start, or a chance to be their own boss. Becoming a franchise partner can be a great business model for hard-working and motivated individuals looking to become business owners. As a…
Part of the process towards franchise ownership involves an interview with the franchisor. This is typically done before a franchisor provides you with the franchise disclosure document or schedules a Discovery Day. The interview serves as a way to determine if you have the financial…