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Franchising

Franchising Isn't Any Easier -- Or Harder -- Than Other Types of Business Ventures

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Franchise of the Day: This Franchise Fills Our Taco Needs All Day Long

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Why You Should Make the Move to a Multi-Unit Franchise

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Franchising

Franchise of the Day: Hit a Grand Slam With This Franchise

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Franchise of the Day: This Taco Shop Will Have You Feeling Warm and 'Fuzzy'

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Franchising

5 Things to Consider Before You Open More Locations

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Franchising

Here's the Top 20 Fastest-Growing Franchises of the Year

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Franchising

Pop Quiz: How Well Do You Know Ben & Jerry's?

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Franchising

From the NFL Locker Room to the Boardroom

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4 Ways This Veteran's Military Background Helps Him Run His Business

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Questions

What are the pros and cons of owning a franchise?

Lachlan HandleyDirector at FIFO Capital NSW
I myself bought into a franchise. In brief the pro's are:- you are not starting completely from scratch, someone else has taken time to develop and perfect the idea and hopefully got it to a stage where the product / service is a proven success and can be rolled out - there should be a proven and documented system and a methodology you can implement - you aren't on your own, head office should be able to provide you with guidance and support as you need it and you get the benefit of their learnings over time and experience- there should be some existing brand awareness so you aren't a complete unknownThe con's are:- in addition to the upfront franchise fee, there will be ongoing royalties which are generally a percentage of turnover- there may also be fixed costs (e.g. marketing levy) you have to pay regardless of how well the business is going- you may lose some flexibility as you have to work within the parameters of the franchise agreement (e.g. location, hours of operation, products, uniform, suppliers).I personally never felt completely comfortable stepping out on my own and starting something from nothing (those brave enough to do that I salute you!), and I never had that big idea I could commercialise. So a franchise was a great way to take a proven concept, make it my own and run with it. Good luck!Lachlan @ Fifo Capital
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Questions

What do I need to know when looking to buy a cleaning franchise?

I wish to purchase a franchise business in the cleaning industry. I've selected some prospect... read more

HUNTER LEONARDFOUNDER AND CEO at BLUE FROG MARKETING PTY LTD
Hi Scott I don't know that company or the specific industry but as a rule these are the things any good franchisor will be doing for you.1) they have good systems for every process in the business and will train you on this2) they are really going to help you on lead generation and also support and encourage you to take responsibility for local marketing of your own business too. they should be able to show you successful examples of them generating leads and also local franchisees marketing successes too. and beware it isn't just ads and brochures - they should have a national or state marketing strategy that supports all franchisees3) they should have a good reputation - speak to existing franchisees and get their thoughts too4) they should have good policies in place and clear concise explanations of what is expected of youOverall, you want them to be interested in you having a successful, sustainable business, and not be in the business of 'selling franchises' if you know what I mean.Once again, these comments are general and based on over 15 years experience in marketing and consulting to small business and working with franchises in different markets. I don't know the company you've mentioned, and I'm not commenting on their specific delivery of the above key success factors for you.Hope this helpshunter
Veronika Adriane
Hi Scott, I'm glad I can help you with this one as I'm can share some information right from the source. I've been involved with the foregoing company for some time now and I can give you a heads up on the business development process.Once you become part of the franchisees, you'll need to get through an extensive training session that will guide you through all the management techniques you'll need to enquire to be able to solve any issue in times of a business crisis.You'll work with a team of cleaners with professional experience in the field. All cleaners in your team will be fully vetted and insured.Marketing, Customer Care and other departments of the company will help you establish and maintain your online presence.You'll receive access to to an internal booking management software that will help you keep your teams and service appointments on schedule. As part of the franchisees, you'll receive booked sessions ready for completion and you'll be get a minimum of bookings to guarantee your business growth and turn your company into a profitable investment.Some personal advice.Franchising may seem hard at first but it's also an invaluable business strategy when dark days come. You'll receive support and know how to help you deal with any business outcome. The industry sector you've chosen is popular as a market with inexhaustible capacity. This means you'll be hardly getting a low number of bookings and you'll be most likely able to grow more quickly in comparison with businesses in other industry sectors. Last but not least, make sure to enjoy and learn from every moment of your business development. Business ownership is a remarkable journey and you should take the best from it.
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Franchising

Franchise of the Day: The Franchise Says Its OK to Eat Your Feelings

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PJ PattersonOwner at Keystone Financial
Her story was very inspiring. It made me think that will power is the key for you to make things happen. She didn't second-guess, she just made it.
Franchising

5 Reasons Why Startup Franchises Can Fail, and What to Do About It

Griffiths University reported that the overall number of franchises fell between 2012 and 2014,... read more

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Farhad KhurshedFounder at Copywriting-Results
Brian Keen is the real deal on this subject. I would also add, make sure you speak to other Franchise owners as they can reveal what's really required to make your business a success.
Lina BarfootEditor at SavvySME
Very interesting article! Helpful to get some tips and advice from someone who knows the topic well.
Franchising

Foodies Go Mainstream

Fresh New Food Choices Challenge the Establishment The international franchise food sector is... read more

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Yee TrinhCo-founder at SavvySME
Just a pity that Sydney has such heavy regulations over food trucks. It's surprisingly hefty to start up a food truck, requiring a minimum upfront investment of $200,000 and the wait is currently 2 years for food truck approvals here.
Lina BarfootEditor at SavvySME
I know I hope to see more food trucks around! they're such a great way for people to be innovative and serve what they love to eat without prices rising through the roof. And it's super-convenient if you're pressed for time and want to grab something quickly.
Franchising

The One Element Your Franchise Can't Afford to Ignore

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Franchising

The 23 Items Your Franchise Disclosure Document Must Include

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Franchising

How to Choose the Best Structure for Your Franchise Company

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Franchising

Franchise Fees: The Money Question That Can Make or Break Your Franchise

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Franchising

Should You Open a Second Location Before You Franchise Your Business?

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