The basic rule of thumbs in buying a franchise unit is to look for a franchise that suits your interest, personality and management style. However, a seemingly suitable franchise will not guarantee you any success if it is not great. Being good is not enough – You would not want to invest tens of thousands…
When you are looking for a franchise to invest in, you will surely be invited for a short interview to learn why you are interested in one. In some occasions, you may also be invited to take a personality assessment. The personality assessment held by a franchisor is aiming to profile franchisee candidates in order…
A conventional wisdom on franchising says that absentee ownership is not ideal in running franchise units; Therefore, most franchises offer franchising opportunities that do not allow absentee ownership. Perhaps they should think about allowing absentee ownership, as it presents a win-win solution for both franchisee and franchisor. Absentee ownership means owners who are not physically…
You are ready with the resources on your side. You revved-up and ready to invest your money in a good franchise. Your next step is to find which franchise to partner with and to invest in, and after that you are ready to start making money. We are ready to go, right? Well, not quite.…
Franchises are known for their proven business system that can help you reduce risks related to business start up process. However, this doesn’t come without any costs. In franchising, those costs are called franchise fee (or some others like to call it license fee, but both are basically the same.) The amount of franchise fee…
Blogging for franchise unit owners is a little different with business blogging in general. It involves a different approach in branding and creating a community loyal to your franchise unit. But first thing first – Why should you blog for your business? Blogging helps you in your business branding and marketing. It helps you to…
