A large percentage of franchised businesses are operated from commercial premises; in most instances a third party landlord leases these directly to the franchisee. A franchisor may also take the lease which they then sublease to their franchisees. New franchisees generally negotiate new agreements; in the case of existing franchises the franchisees may just take […]
Running a franchise is no cakewalk. Like any other business, it involves investment, getting your financials right; you need to have passion as well as the determination to work hard if you want your venture to succeed. Here we discuss some common financials-related franchisee fails and steps you can take to avoid them: #1 Investing […]
If you are a franchise owner, it’s very likely your independence and entrepreneurial spirit has helped you set up your business and brought you to this stage. You are very well aware of how much dedication and consistently hard work it takes to ensure your franchise stays afloat and thrives. But running a business is […]
Buying into a franchise can be a great business opportunity for you to break away from the monotony of a regular job, but every franchise network has certain rules and regulations that have to be followed by all the franchisees. It makes good business sense to get some professional legal advice before signing on the […]
As a prospective franchise buyer, there are a number of things that you need to focus on. While all the paperwork may make the process seem very tedious and time-consuming, each of these documents has a specific purpose. Here we give you an easy checklist of documents you may have to sign when purchasing a […]
Many people that have 9-5 jobs dream of starting their own venture and becoming their own boss; and franchising seem like a very conducive option to them. While it’s true that franchising is a low risk and low-investment proposition compared to many other business options, it has its downsides as well. Just like any other […]
Many people are now veering towards the trend of moving out of the corporate grind and becoming self-employed; and in the current market landscape, franchising seems like a very conducive option. The financial risks are lower than embarking on an entirely independent business venture and you have a set format and business framework to function […]
If you have finally made that big change in your life and started a franchise, you must have already conducted a significant amount of research before officially opened up your doors for business; so now, what is the next thing to do? It’s no surprise that starting a franchise can be pretty tough work; but […]
It can be quite exciting to buy a franchise business, but like any other business decision, this is one that shouldn’t be made lightly. Here are 5 things to consider before buying a franchise: #1 Are you passionate about owning a franchise? This is probably one of the very first things you should be asking […]
Most new franchisors have very little understanding and knowledge of the different types of royalty options available to them, when deciding to purchase a franchise. A franchisor that forms part of their own network’s supply chain might even have the flexibility to not charge any royalties at all; instead, they derive their income solely from […]
In the modern world, starting on a business venture has become an excellent option for people that want to get out of the 9-5 grind, have a passion for working in a certain field and be their own boss. However, there can be a number of hurdles that can crop up when establishing any business […]
The commonest form of opportunism in the franchise industry is free-riding. In this, a franchisee joins a very well-recognised network but adds almost nothing of their own personal endeavours and entrepreneurship to the business; in short, it’s only the franchisor’s efforts and the strong brand that generate customers for that franchisee’s business.
For a large majority of people, becoming their own boss is the driving factor in them deciding to purchase a franchise. But the real satisfaction also comes from good financial performance and profitability.
If you ask a potential franchisee why they feel they want to enter into this space, you will get varying answers; different people have different priorities and wants and that’s what drives them to look for better careers and business opportunities in life. Let’s take a look at some of the most prominent reasons why […]
Every franchisor worth their salt understands that the success of their network to a large extent depends on how dedicated and skilled their franchisees are. It’s why they look for ways and means to ensure that they have a consistent connect with all the franchisees in their network and have their finger on the pulse […]
If you are planning on venturing into the franchising space and have started conducting some research on the industry, how it works and the different franchising options it offers, you must have realised that you have the option to choose between a big brand franchise that has a global or national presence or one that […]
The Franchising Code of Conduct underlines the importance of franchisees being fully aware of what they are getting into well before they buy any franchise. When a person makes a decision to buy a franchise within a compressed timeframe, without conducting a sufficient amount of research or being aware of how the industry works, there […]
Just as in the case of other industry, there exist certain rules and codes that govern the Franchising industry as well. The Franchising Code of Conduct in Australia was introduced on July 1, 1998 and resolving franchise disputes has been one of the core components of this code.
An underperforming franchisee in a network, not only does harm to their business, but to the brand they represent as well. However, the lead causes and signs of underperformance aren’t completely understood. A franchisor generally relies on sales data after the fact, to identify their franchisors performance trends. But by that time, the effort needed […]
One of the primary reasons businesses decide to embark on the franchising path, is the lack of capital required for growth. When experts are discussing why franchising occurs, they refer to this as the theory of capital constraints. The challenges arising from paucity of capital for a start-up franchisor could be because they underestimated the […]
