Getting Started in Franchising

Regardless of your business experience or skill set, if you are thinking of owning a franchise, here are some things you need to consider. What Interests You: Many people compare entering a franchise agreement to a marriage. You have to be sure the business will hold your interest over the term of the franchise agreement—many of which can be 10 or 15 years long. It is important to think about…

5 Tips for Negotiating Your Franchise Deal

  Negotiation is a big part of the franchise purchase process. If you’re successful at it, you will probably start out your new business with better terms and more benefits than someone who is not as skilled. Even if you’ve never negotiated anything in your life before, here are five tips to help ensure your franchise negotiation process goes smoothly and in your favor.   Have some confidence You don’t…

Why You Should Buy a Franchise Instead of Starting Your Own

The following excerpt is from Rick Grossman’s book Franchise Bible. Buy it now from Amazon | Barnes & Noble Very few people have the natural ability or expertise to be efficient at all aspects of running a successful business. That is where the franchisor’s experience comes into play. Franchise organizations offer a structure for launching, operating and growing a business. Indeed, the successful franchisor will deliver the entire framework around which the business is…

The 19 Covenants of a Standard Franchise Agreement

The following excerpt is from Rick Grossmann’s book Franchise Bible. Buy it now from Amazon | Barnes & Noble | IndieBound The franchise agreement is the contract between the franchisor and you, but it’s not a “standard” or “form” agreement. The format of the contract differs from one franchise system to another. However, though each franchise agreement will differ in style, language and content, all franchise agreements have covenants, each of…

Past Failed Franchise? Here’s When You Should Try, Try, Try Again

  There’s no way around it. Buying a franchise is risky. Owning any type of business is risky. It’s the reason why franchise ownership is so magnetic. It repels the people who are risk averse and continually attracts the people who love a challenge. If you’ve owned a franchise in the past without success but are considering investing in a new franchise, you’re part of the latter group. You love…

Why You Should Consider Investing In a Franchise

In planning to venture into a franchising business, it is important to do complete and thorough research.  The franchise will give you a certain level of independence  in operating your own business. This will also endow with a proven business model, training, marketing and ongoing support Why you should consider franchising: Risk of business failure is reduced. The failure of a franchise business  is reduced because proven operating systems, marketing…

Traits of a Winning Franchisee:-Is a Franchise Right for You?

Before you even start looking for franchise business to capitalize on, try to assess yourself and your personality to see if a franchise business is right for you. You have to make sure you have the right traits and characteristics needed for franchising in order to succeed at it. Choosing a franchise business, or any type of business for that matter, can be intimidating and demanding, which is why you…