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Opening a franchise of an existing business is a quick way to get your own company up and running. One of the big advantages is that, once you pay your fees, you get to use the established brand’s name and products. You also get the benefit of their (presumably)...
If you are a Miami-area franchisee, you probably bought into your franchise because you liked their products, you appreciated the name-brand recognition and existing customer base and you looked forward to the support you’d get from the franchisor. But sometimes the...
When some people want to start a business, they look at a franchise opportunity as a sure win because the parent company might be well-known. There are still some significant risks that come with franchises in general. Franchisees need to think carefully about these...
Tell anyone that you want to start a business in the food industry and you’re likely to get one response: “I heard that’s a really tough industry to survive in.” People know that running a restaurant is difficult and that the failure rate for new operations is very...
You want to open a franchise. Why? You know the brand and love it. You want to bring it to the people around you and know that you can run an amazing operation. Before you get started, it’s smart to look into the opportunity to see if it’s a good one. Here are three...
Every business has cybersecurity threats. Thinking through how to prevent data theft and other security compromises is just part of being an owner or manager anywhere. But franchise restaurants are a special case, as a recent article in Modern Restaurant Management...
A pizza franchisee has lost their chain franchise at the worst time, amid the coronavirus crisis. Now is a good moment to revisit the contracts affecting your business relationships. Those relationships are bound to be stressed in multiple ways, and your contracts may...
Sometimes the world seems already full of franchises. Early last year, a major brand of 24-hour fitness clubs announced the opening of a franchise in Antarctica. But business history is full of turning points when it dawned on an entrepreneur that they could charge...
The short answer is no, a company legally cannot (and should not) say you will make a certain amount of money if you open a franchise under their brand. But here is a more useful, if longer, answer. Some companies are more open than others when it comes to information...
When you have found a company whose brand really speaks to you or whose products or services overlap with what you hope to do with your own business, entering into a franchise agreement with that company can be beneficial for both parties. You get to benefit from a...
