Could a Franchise Really Work for You?

Will It Work For You

Many people understand the benefits of a franchise.  They just aren’t sure a franchise will work for them.
Is this valid?  Do you need certain qualities to succeed with a franchise?  Yes, there is one quality that every franchisee needs:  You need to be willing and able to follow the system that the franchise company has […]

Is There More to a Franchise than Burgers and Fries?

Franchise Burgers Fries

There is one comment that we often hear when we first talk to candidates:  “I don’t want a franchise because I don’t want a business where I’m flipping burgers all day.”
Is that what franchises are all about?  Most people are surprised to learn the answer is “Absolutely not”.
People do usually think of franchises as being […]

What Do You Want to Find Out About a Franchise Before You Buy?

Find Out More Franchises

Everybody wants to know “How much money am I going to make in this business?” That makes sense to me. If I was buying a franchise, I’d want to have a pretty good idea how much money I could expect to make?
We’re taught that one of the advantages of a franchise is that […]

How Not to Choose a Franchise

Choosing Franchise

Some of the clients I work with are very head strong. They have their ideas. They know what does and does not work. They do not want to be distracted by facts.
So they jump to conclusions.
One client felt the way to have a successful business was to appeal to as […]

What is Important in a Franchise Disclosure Document?

FDD

It’s frustrating.  A Franchise Disclosure Document is extremely important to read.  And equally as boring.
This document and the Franchise Agreement set out the complete terms under which you become a franchisee.  You might have great conversations with the franchise representative.  You might get to know, like, and trust him.  But what matters is what’s in […]

Are Franchises Really More Successful Than Independent Businesses?

Independent vs Franchise

We hear a lot of questions on this topic.  Is there an accurate answer?
Let’s look at some of the data.  According to the International Franchise Association, franchise companies often have a revenue advantage over independents.  Sometimes a very large advantage.  In the food and retail sectors, for example, franchises make up only fifteen percent of […]

What is the Best Franchise to Buy?

Which Franchise Should I Buy

This is the most common question I’m asked.  Followed closely by “What is the hottest franchise”?  Or “What franchise should I buy?”
That would be a great question – if it wasn’t the wrong question.  The simple truth is, there is no such thing as a “best franchise”.
But there might be a franchise that is best […]

Should I Limit My Choices to a Well-Known Franchise Brand?

Well-Known Franchise

There is a lot of disagreement over this question.  Some people insist that a franchise is not worth owning unless it is a household name.  Others feel that name recognition is of comparatively small importance.
Rather than jump to a conclusion, let’s look at the facts.
Sure, a strong name brand can be a help.  Your customers […]

Can a Low Cost Franchise Earn You High Profits?

High Profit Franchise

Sure, there might be some great franchises out there.   And there might be some low cost franchises.  But everyone knows that if you want to make real money you need to invest a lot.
Right?
Wrong.
There is no direct relationship between the amount that you invest in a franchise and the amount that you can expect to […]

Can You Find Out If a Business is Low Risk Before You Start It?

Risk

It would be great if you could.  Right?
What would it take?  Here are a few ideas:
You would need a way to find out all about the business first.
You would need to be able to talk to others who had started the same kind of business.   You would want them to tell you all about their […]