It’s very common to hear experienced franchisors say that while the franchise relationship finally relies on the detailed information about the obligations and rights mentioned in the franchising agreement, the document itself isn’t really referred to again, after both the parties have signed on the dotted lines. In short, the understanding is that both the […]
When it comes to business, there is will always be some uncertainty and risks involved. However, when you opt for franchising it helps reduce these risks as the environment is supported by the franchisor’s resources and other franchisees that operate under that brand. As a franchisee, you don’t want to lose money when you invest […]
While bank interest rates are currently on record lows in our country, a number of potential franchisees are unable to get the finance they require to purchase a franchise. That’s when they turn to family and friends and other non-banking lenders. Studies indicate that almost 10% of new franchise businesses are now either underwritten/funded by […]
We live in a highly digital world and while consumers everywhere are now choosing to make even the smallest of purchases online, the shocking fact is that almost 75% of small businesses don’t have the Ecommerce option on their website. It simply means that if your website doesn’t have an ecommerce option you are missing […]
If you are planning on owning a franchise, you must have conducted a certain amount of research to identify whether the business will be profitable. However, the other crucial aspect you have to take into consideration is about the feel of the market. When you throw open the doors of your business for the first […]
Regardless of the business you run, you need to acquire the trust of your customers and this is more evident in certain markets than others. With reference to the cleaning industry, trust is all-important; in fact, we’d go so far as to say that it’s non-negotiable. If you want your cleaning franchise to be successful […]
If you are a business owner, are planning to expand your horizons and geographical limits and want to make a success of it, franchising is the one way to do it. There are a number of success stories out there, McDonalds being one of the greatest franchising success stories of all times. But Rome wasn’t […]
Not many people are aware of this or will be willing to accept this, but the fact is that in most cases, women are definitely more successful than men in the franchising landscape. The former are born business leaders and they are conditioned to multi-tasking from a very young age. Aside from this, they are […]
When you’re a part of a family unit, every major financial and professional decision you make has an impact on others. That’s especially true if you’re married and have children to support. Purchasing a franchise is a big investment and a massive career shift, especially if you intend to leave your previous job behind. We […]
Franchises rely heavily on marketing and branding for success. If you don’t have a solid marketing plan in place and can’t establish a presence online, you’ll fall behind of your competition. One of the best ways to establish a presence online is to become active on social media. These platforms will allow you to connect […]
Working from home is more challenging than most people realise, especially if you have to run a business from your home and are responsible for bringing in the profits. When you run a home-based franchise, you’re faced with a number of new and unique challenges that can hamper your progress. Here are five tips that […]
Running a franchise requires skill, dedication, experience, and knowledge. When you purchase one, you are a business owner and the success of your venture depends on your ability to steer it in the right direction. You need knowledge of management, human resource management, marketing, sales, and other such aspects of running a business. School can […]
It’s easy to become confused between the terms licensing and franchising because they sound similar on the surface. However, it’s important to understand the distinction between these two concepts before you enter into any license or franchise agreements. This article provides basic information about licensing and franchising but it’s a good idea to consult with […]
Investing in a franchise is often considered a safer alternative to starting a business from scratch. You get an established brand, good customer base, and some support from the parent company. This can be an attractive option for people who want to start a business but are worried about the risks involved. You should bear […]
Franchising is a great way to start your own business and take advantage of a well-established brand. However, some industries are better suited for franchising than others. For example, franchises thrive in the fast food and retail industry because people want consistency in products and services. Few entrepreneurs are willing to move out of the […]
Buying a franchise isn’t an easy decision to make because you need to invest a lot of money, effort, time, and dedication into the venture. People who want to get out of the daily grind consider franchising a safer and easier option but this choice also requires a lot of hard work. Here are some […]
While buying a franchise is easier and more affordable than establishing your own small business, you shouldn’t take this step lightly. Many entrepreneurs invest in a poor franchise and see little to no returns on their investment.
All kinds of businesses require money but not all entrepreneurs gain easy access to funding. In fact, most can’t get their business off the ground because they lack adequate funding. If you plan well and approach your finances carefully, you will be able to find enough money to fund your venture and ensure it stays […]
Mobile phones have become almost ubiquitous. It’s rare to find an adult in Australia who doesn’t own a phone and most of them have smart devices.
Employees are the backbone of any business, and contribute towards its success. If you have a great team of dedicated employees, you’ll be able to surpass most of the obstacles in your way.
