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A commercial property that is being leased to a tenant comes with one main bill: the monthly lease payment. But that by no means is the only cost that the property owner is going to face. There are also things like utilities, property, taxes, the cost of maintenance...
Depending on the nature of your business, you may require employees to sign a non-compete agreement or covenant not to compete. At its very basic, this legal contract is intended to bar an employee from working for your competition for a specified duration after...
You possess an entrepreneurial mindset and have been thinking about owning a franchise. In the U.S. alone, there are approximately 674,000 franchise owners, and you wish to become part of this statistic. Owning a franchise is a popular way to make money, but it does...
If you want to buy into a franchise, the first thing you have to do is get out your checkbook and make a payment to the franchisor for the franchise fee. How much do you have to pay? It depends largely on the particular franchise you want to operate. Opening a Subway...
What’s one of the most important considerations when buying a franchise opportunity? Location. No one wants to go to the trouble of setting up a business only to have someone turn up and plant theirs right next to you. As a franchisee, you need to enter into a...
The relationship between the franchisee and the franchisor can sometimes be delicate. Relationships can quickly start to break down where a franchisee feels like they’ve been misled or unsupported in business operations, and they consider their business is suffering...
When you want to open a franchise, you’ll have to sign a franchise agreement. This is to protect you and the franchisor. It sets expectations and enables you to know your responsibilities. You shouldn’t ever sign a franchise agreement unless you read through the...
The allure of a franchise is indisputable. In many cases, you’ll benefit from existing brand recognition, a proven business model and actionable data. But there are no guarantees in business. Humans and their spending habits can be fickle. A wildly successful business...
Data is king in the digital world. Businesses rely on data including sales information and market statistics to ensure commercial success. Consumer data is also playing an increasing role in business. Businesses can tailor ads, experiences and products to individuals....
Paying rent per the terms of the lease agreement is one of the major obligations of a commercial tenant. In fact, most lease contracts come with provisions regarding what the landlord can do when the commercial tenant defaults in paying rent. If you own commercial...
