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When it came to marketing toward minorities and minority owners, McDonald’s was one franchisor that took the lead, particularly among the Black community. Black entrepreneurs welcomed the attention and the opportunities presented by McDonalds. They bought into the...
Every business venture has an element of risk involved – even a franchise agreement with a well-known brand. Opening a franchise may have seemed like a real shortcut to success but everything from the wrong business location to changes in the economic situation of the...
While your small business is thriving because of the product you developed, you may be aware that your intellectual property may be the most at-risk asset you have, which is why you keep the construction instructions secret. You have become aware that a competitor has...
There are many factors to consider before embarking on the journey of acquiring a franchise. Most business decisions involve a certain level of risks, with nothing being guaranteed. However, personal and financial success can occur through the growth of a franchise....
Savvy entrepreneurs know to review the Franchise Disclosure Document (FDD) before investing in a franchise. This document generally includes 23 numbered items, which include the franchisor’s background, any previous bankruptcies, and any restrictions about territory...
Starting a franchise can be easier than starting a business from scratch. You get to draw on an established customer base and a well-developed brand. You don't have to perfect processes or advertising on your own because the parent company will handle that for you....
Few franchisees may realize it, but a franchise relationship is a business model with significant power imbalances between parties involved. That's why it's so important that you have a firm grasp of your rights and responsibilities to the franchisor as a franchisee....
Business and real estate deals and partnerships can often create conflict. Sometimes these disputes may culminate into litigation. Here are five steps to follow to make sure you make informed and educated decisions. RULE OUT ALL ALTERNATIVES TO LITIGATION Disputes...
A franchise is often based on the idea of uniformity, rather than creativity. Whenever you go into a specific store, you feel like you’ve been in it before. All of the various outlets are the same. This can be hard for some business owners, who wanted to start a...
What is popular and successful in business constantly changes. Aesthetics and morals shift from generation to generation. Your company will need to adapt to changing times in order to remain competitive. Rebranding your business can help make it seem more modern and...
