Four things to know before buying a franchise

Over the years, I’ve met many people who want desperately to own a business, but 1) just don’t know what it should be; or 2) lack the entrepreneurial vision and/or desire to start a business from scratch. Enter one of the great inventions America has given to the world: the franchise. Purchasing and operating a franchise is entrepreneurial coloring inside of the lines. If you don’t have a problem playing…

Franchising: A risk worth taking?

So you’re thinking of being a business owner are you? Well, get ready to join the rapidly-growing club of small-medium enterprises (SMEs) in Malaysia. With latest government figures estimating total SME numbers to be 645,136 in 2015, there is little doubt this figure is set to rise as the country continues to strive towards an annual growth rate of eight per cent in total SMEs through to 2020. This encouraged…

The Lesser-Known Pros of Canadian Franchising

AUTHOR: BeTheBoss.ca DATE: MAR 19th, 2017 TOPIC: Industry Experts When looking into Canadian franchising, you’ve probably come across of a lot of “pros and cons” discussions. Many of these naturally focus on the hard numbers, like the financial return and royalty rates, alongside other dry areas. Looking at both the upsides and downsides of the bottom line and what impacts it is the smart way to go, but it can…

Why women and franchising go together

Why women and franchising go together March 01, 2017 by alesia_v There are a number of reasons why women looking for a new career or business opportunity might be drawn to franchising. Whether it’s for the sense of community, structured setting, or a chance to follow their dreams and passions, there are a number of great reasons why women should get into franchising. The franchise industry is well-known for providing…

Franchise Industry Recognized as Economic Engine for Female Entrepreneurs

Fort Lauderdale, Feb. 28, 2017 (GLOBE NEWSWIRE) — Anago Cleaning Systems (Anago), an industry-leading commercial cleaning franchise with more than 35 Master Franchises and over 1,400 Unit Franchisees throughout the U.S. and internationally, announced today that Franchise Business Review ranked Anago as one of the Top Franchises for Women as part of the publication’s first annual “Top Franchises for Women” list. “One of our guiding principles as a global franchise…

4 Things Canadian Franchisees Overlook When Buying a US Franchise

  There are many US brands operating successfully in Canada today across several industries. If a US franchise has caught your eye, however, you need to do some homework beyond the typical research. There are some specific areas that can cause you trouble down the road as a Canadian operating a US franchise in your home country, so check out the commonly overlooked areas below before sealing your deal.  …

CAN A FRANCHISE AGREEMENT BE CHANGED?

The franchisor will probably tell you that the Franchise Agreement is a standard form and that everyone signs it. But, there may still be some room for negotiation on points like these: The description of the geographical area in which you will be the company’s only franchise owner. A right to take over adjoining areas if they become available. The number of years the franchise will remain in effect. A…

New Stats on Women in Franchising

’m all about encouraging diversity in franchising, and was pleased to see some new statistics on women in franchising from Franchise Business Review. On the whole, FBR’s numbers point to a clear majority enjoying operating the business, while barely more than half feel their work/life is balanced. Franchise Business Review is a national franchise market research firm that conducts independent research of franchisee satisfaction, and it recently surveyed 6,400 female…

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…