Franchisee Resource Center
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Time Saving Tips for Franchise Shoppers
Time is a precious commodity these days and although buying a franchise is a time consuming process, there are ways to cut to the chase. Of course you should do your due diligence, but first make sure you’re focused on viable choices. Here are some tips to quickly identify the best franchise opportunities for you so no time is wasted.
Best Franchises for Young Entrepreneurs
Politicians, academics, and corporate leaders alike love to proclaim that the "dreams of the youth" will drive our country's economic future. It's a fine sentiment, to be sure, but many of these same leaders, blind to the realities of the modern American (and global) economy, seem to incorrectly believe that these youthful dreams include following the increasingly unreliable path of earlier generations. Get a clue!
What To Negotiate in the Franchise Agreement
Before going into the negotiating aspect, one must always ask the franchisor whether they are willing to negotiate. Usually franchisors state that they have a rigid Franchise Agreement and that it is not open to negotiating. However, there may be some instances where the franchisor may allow some flexibility. Stated below are a few tried and tested tips for negotiating franchise agreements and which areas to concentrate one’s efforts on.
5 Traps for the Unwary Prospective Franchisee
When evaluating a potential franchise opportunity, prospective franchisees need to take care to put the hype and their emotions in check, and carefully consider all factors relevant to their buying decision. After all, the franchise will be a 5- to 10-year relationship (at minimum, under most franchise agreements), so it is well worth the investment to put in some research and analysis before taking the leap.
Why Should I Open a Franchise Rather Than Open My Own Business?
America has always been the land of free enterprise, and the prospect of self- employment may sound like a dream come true. Imagine the schedule flexibility, the freedom to explore and expand while pursuing an interesting career. The alleyways of entrepreneurship are so vast that it can be rather daunting to entertain. What is the right business for today? What product is in demand? Which business model is most profitable? What concept is most likely to succeed? Potential owners also must consider that franchising may be a better option than small business start ups. Yes, when entrepreneurship meets franchising, the parameters change. There may still be freedom, but new franchisees find themselves absorbed into a preset business model with a tried and true support system.
The Best Senior Care Franchises
Before we get to the individual business profiles, however, a quick background on what senior care and home care businesses do and why they serve such an acute need: An increasing number of elderly Americans want the opportunity to remain at home as they age. Unfortunately, to do so, many of these individuals require personal assistance beyond what their families can provide. The best senior care franchises and homecare franchises manage to meet this need cost- effectively -- to the great relief of worried family members -- by providing compassionate non-medical care, such as transportation assistance, light housekeeping, meal preparation, companionship, assistance with taking medication, and, in certain cases, medical services.
Watch out, Franchisees! 10 Franchisor Red Flags
Only a limited number of states require registration by franchisors, and franchisors are by no means required to register in states where they have no intention of selling franchises. However, if a mature franchisor appears to be consciously avoiding the registration states, this may suggest some level of internal concern about the FDD, the franchisor’s sales tactics, or the franchise system as a whole. The cover pages of the FDD will identify where the franchisor is required to register (and whether it has registered or not), and the charts in Item 20 of the FDD will explain whether the franchisor has ever sold a franchise in any of the registration states.
Desperate Times Means Desperate Franchise Buyers
Early in my career, I encountered a franchise buyer who had made a rash decision that turned sour quickly. The funny thing was that he was intelligent, experienced and had a great deal of corporate knowledge – all the attributes that franchisors desire for their many franchise opportunities. I was intrigued that this experienced and generally deliberate person would make such a bad decision. So what went wrong?
Leaving a Six Figure Salary and Moving Forward
FranchiseHelp.com interviews Right At Home franchisee Diane Fortner. While working as a commercial insurance broker with a six-figure salary, Fortner felt the entrepreneurial itch, and soon discovered her calling after underwriting a policy for a successful Right at Home franchisee.