When you have built up a successful business and decide the time is right to go down the franchising route, arguably the most challenging task will be to find the right franchisees. The process is very similar to when you are looking for new employees, you want a person that you can trust, that has…
read moreFranchising is a growth area. There are many people looking for a career change however, the decision critical to their future success, is what is the best option for them? If we explore this more and break it down further, we can help with the decision thanks to the power of 4. Four key influential…
read moreWe live in a world of uncertainty where the only thing we can really be confident about is that change is right around the corner. We could be referring to a change in the weather, or a change in hairstyle or even a change in our personal circumstances. Embracing change is so important especially when…
read moreAny entrepreneur wanting to take their first steps into business ownership should always look to see if the franchising route would be a viable option. If we look at some of largest economies, say Australia or USA, they have a large franchising network. This is simply because they are not concerned with failure, they know…
read moreEarly preparation in terms of business exit planning is crucial if a business owner is going to maximise their earning potential. Often when looking at the value of a business a typical model will be to look at annual profit and then multiply by 1 to 2 times its value. In reality, the business will…
read moreHere are just a few of the most common franchising frequently asked questions: Why own your own franchise? Take control of your career, be your own boss and run your own business but do all of this whilst being part of a well-established and recognised brand who can support you every step of the way.…
read moreIn order to build an attractive franchise package that will encourage people to invest in your business it is vital to be able to demonstrate that your franchise is viable and profitable. The best way to achieve this is to run a pilot franchise. Not only does the pilot enable the franchisor to establish that…
read moreThe franchise agreement is arguably the most important thing to get right in the whole process of becoming a franchisee. It is normal for an agreement to be written in favour of the franchisor, so it is vital to use a specialist franchise solicitor to review the documentation and explain it to you in plain…
read moreMost people assume that making money from franchising a business comes from the franchise fees. However, this is not the case, in fact usually the franchise fees are a loss leader. The money comes from royalties, the ongoing fees that the franchisees pay to the franchisor on a regular basis as either a flat rate…
read moreOnce you’ve taken the plunge to become self employed by purchasing a franchise, it can feel like it has taken an awful lot of hard work to get to this point. In truth though, the hard work is only just beginning. Until now you have had support and guidance from many people, now you may…
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