Due diligence is the keyword to ensure that everything you have planned in buying a franchise will not go in vain. Proper franchise opportunity analysis can only do you good. Due diligence is resource-intensive. Doing it requires you to put on your business analyst hat, as well as your skepticism hat. Unfortunately, choosing NOT to…
Provided you buy a franchise that allows you to be an absentee owner, being a franchisee can present you with more business opportunities. Franchisees are comprised of entrepreneurs, professionals, retirees and many other backgrounds – This wealth of background can add diversity, leading to a stronger franchise, benefiting both franchisor and franchisee. A chance to…
Many people don’t realise that not all home-based franchises are enabling you to do most of your work from home. Some do allow your home to be the ‘headquarters’, where business operations are done mostly outside the comfort of your home. Let us get this straight – Home-based franchises are those franchises that allow you…
The trivial part in spotting the right franchise opportunity is looking for proofs on all of the franchisor’s claims, regarding franchise operations – the staffing, office/store management, and design/display, to name a few. There are many ways to do so, but I personally like to visit the franchisor’s own units, to observe and take note…
Franchising has expanded and extended, in such a way that it is now beyond physical boundaries, including geographical boundaries. Internet franchises are those that pioneering a way to break the online and off line business barrier by offering Internet-based and -related opportunities. What are Internet franchises? Internet franchises are those that offer opportunities in Internet…
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…
