Not all can be franchisees – there are certain personality traits and circumstances that can hinder you from being a successful franchisee. Are you a franchisee material? Here are 100 questions to ask or answer to ultimately help you determine whether you have all the potential to be a great franchisee or not, excerpted from…
Franchising is about teamwork and relationship. In any kind of relationship you will encounter frictions, whether you like it or not. Here’s my view on how to resolve franchise disputes. Disputes are often inevitable. Franchisors are doing their best in forming a franchise agreement that will work for them and for the franchisees. Franchisees are…
Buying a franchise unit is probably easy if you have the capital, but running one is a different story. Firstly, a franchise owner is required to be responsible for the whole business operations, from hiring to managing finances. This is a good thing, but not many can actually do this well – wearing many hats…
“Franchise opportunities – easy to run, no experience required!” In this article I want to be totally honest with you: Whenever you encounter such offer, not only in franchising but in any business opportunities, my only suggestion for you would be to stay away, even run away from them. Franchises are mistakenly touted to be…
You have prepared everything you need to do to buy your dream franchise: Location, check. Market research, check. Financing, check. The due diligence, check, check and check. Now it’s time to move a step forward: Let your franchisor know that you are ready for reviewing and signing a franchise agreement. Franchise agreement is where things…
Finally, the search is over – you have done your homework and have found your dream franchise and you just know it has a bright future. The next step would be: buy the franchise; the big question: how will you finance the purchase? Unfortunately, franchises are stereotypically known as businesses requiring quite an amount of…
