The main use of a franchise business model is for the rapid scalability and expansion of a brand, yet, it’s no rarity to see franchise networks limited to one geographical continent, self-isolated to the market they are all so familiar with already. However, it’s not necessarily the unfamiliarity that puts franchises off expansions, it’s the…
Franchise businesses are just about everywhere you look. Some of the biggest brands in the UK are run by franchisees. When a business proves to be successful, the owners sometimes decide to offer this business model to franchisees. Those who buy into the franchise are given the use of trademarks, products and services, all according…
Most people who want to start their own business usually cite reasons like independence and money. Unfortunately for most new business owners, you can’t have your cake and eat it too. Katie Fagan, of franchise consulting group FranNet, told Palo Alto Online that only 16 percent of start-ups are still in business after 10 years,…
Franchising has its benefits, that much is clear to see – you can in essence hit the ground running, you can receive a substantial amount of training in an industry from wiser heads than yours and you can leverage the power of a large brand to encourage consumer loyalty and trust. However, franchising isn’t always…
Despite our lackluster economic situation, we should never blame the recession for our franchise failure. In franchising, we have witnessed some established franchises made it, while some others don’t – both franchisees and franchisors share their own mistakes; in franchising, “it takes two to tango” couldn’t be more relevant. Here are some reasons why established…
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…
