The title above is probably one of the questions franchisee candidates have in their mind but are too reluctant to raise the issue with the franchisors. We all know that in everything we worked in (to make a living,) we need to put our best effort into it. Just like any other type of business…
Franchises are getting along well with social media. Although I cannot present you with analytical data and stats, I can see that franchises are taking benefit from the social media, in term of brand awareness and franchise information (including promos, events, polls, etc.) Eventually, all of those will be translated into more customers and revenue.…
Visiting franchise expos, I generally pitched with the following, “We have expanded well from X to Y franchise units in 3 years into franchising.” While expansion, for me, is one of the key indicators of the franchises’ potential, it is often misleading franchisee candidates into thinking that rapid expansion means strong franchise company with great…
Franchising is more appealing to entrepreneurs than ever – Many thanks to the recession. People are ‘forced’ to take entrepreneurship route due to downsizing and troubled personal finance. As people need a hand in guiding them in the new frontier, franchising comes to the rescue, offering proven system, strong brand name and support/help along the…
While more franchise opportunities present for veterans, franchisors are starting to set their sight to recruit a much younger entrepreneurs group. The following is a good example of what focusing on younger crowd presents to a franchise company. A case study One of the franchise companies launching a business strategy to recruit young franchisees is…
Before you sign any agreements with a franchisor, you should know the potential risks entering franchising. You should not expect your franchisor would want to reveal anything more than what is inside the UFOC (the franchise offering.) You will almost certain to hear good words and upsides of the franchise opportunities you are interested in.…
