When you are pitched by a franchise company that franchises can’t fail, just stay away from that franchise: Franchises – just like any other businesses – can fail. What to do next if your franchise is failing? I was pitched that franchises has a better sustainability due to their inherited ability to succeed. I was…
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…
“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…
I heard too many stories of franchisees who “feel” that they were being cheated by their franchises, resulting in an under-performing, if not dying, franchise units. The general rule of thumb in any business agreement is: read every word, and don’t forget the fine print. Not to discredit franchisors, but some seem to have a…
Franchisors and franchisees – should you join the Black Friday 2009 sales? Based on the stats, you should. The day businesses, especially retailers, have been waiting for is finally approaching: The Black Friday on November 27, 2009. The Black Friday (and the whole Christmas shopping season starting from that day) is the Day for customers…
