We are always ‘reminded’ by various publications on franchising, online and off line, that franchising is expensive, and bailing out from the franchise agreement is costly for the franchisee. Unfortunately, not many realise that not only franchisees, franchisors are also financially affected by the franchisee-franchisor partnership break-up – And that is just the tip of…
I stumbled on an article on Yahoo! Small Business, that (again) put franchise ownership as one of 7 most overrated businesses. Kelly K. Spors and Kevin Salwen, the article writers, have conversed with small business experts to identify the overrated businesses. Other than franchise ownership, the other six are: Restaurants, direct sales, online retail, high-end…
You can’t simply please everybody. This fact also applies in franchising. If you are a franchisor, you can’t simply keep all of your franchisees happy, no matter how well you set the SOP (a.k.a. the “game plan”) and how hard you try to please your franchisees. The cold hard truth is, “bad” franchisees will nag,…
There are always pros and cons in franchising. The pros always believe that strong brand name and proven systems are the main benefits of franchising. The cons always believe that franchising is expensive and unfair (benefit franchisors more than their franchisees.) I am always pro-franchising. However, I can not deny that there are some legitimate…
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.…
