A common question asked by prospective franchisees that are reviewing a franchise opportunity is, “How much money can I make?” In response, the franchise salesperson often avoids the question and assures you that you will have an opportunity to review the disclosure document and speak with franchisees. When you subsequently get the disclosure document you… Continue reading How Much Money Can I Make?
Misconceptions in Franchising Franchising is a business growth model that has been around since the 1890’s. Franchising has contributed to generating employment, stimulating the economy and contributing to the financial success of millions of individuals around the world. It has made it easier for anyone with strong desire to get into business for themselves but… Continue reading MISCONCEPTIONS IN FRANCHISING
Originally written in 2014, the second edition of the book Franchising Demystified was recently released with new stories, up-to-date statistics and addressing a more global audience. Whether you are considering getting into a franchise, or have made the commitment, Franchising Demystified is the definitive franchise handbook that provides the tools and insights to effectively assess… Continue reading Franchising Demystified Releases 2nd Edition
A common question asked by prospective franchisees that are reviewing a franchise opportunity is, “How much money can I make?” In response, the franchise salesperson avoids the question and assures you that you will have an opportunity to review the disclosure document and speak with franchisees. When you subsequently get the disclosure document you go… Continue reading HOW MUCH MONEY CAN I MAKE?
Have you ever wondered why a franchisor would charge an initial franchise fee or ongoing royalties? Could you make more money by avoiding these costs and opening as an independent business? There are costs associated with belonging to a franchise. It may appear that the costs are high, but the value typically outweighs the… Continue reading FRANCHISE FEES- Initial and Ongoing
from Wayne Maillet, President, Franchise Specialists. Consistency is important to develop the brand and allow the customer to have a consistent experience between franchised locations. A common clause in most franchise agreements states something to the effect that the franchisee must “operate the Franchised Business strictly in accordance with the standards and operating procedures prescribed by… Continue reading Franchising and Change
from Wayne Maillet, President, Franchise Specialists. If you have a successful business and are looking to grow and distribute your product or service to more customers, then franchising may be a viable option. Franchising is a growth business model that allows you to increase your points of distribution and increase market share by granting licenses to… Continue reading Can my Business Become a Franchise?
from Wayne Maillet, President, Franchise Specialists. With most franchise systems, you will discover that there is often a big variance in success between franchise owners and locations. In many systems there are franchisees that are substantially more successful than others. Other franchisees may be struggling. Why? What are the successful franchisees doing different? It may be… Continue reading 10 Common Franchising Mistakes to Avoid
Wayne Maillet’s New Handbook Helps Readers Reach Their Franchising Goals “The Stat” is known to the franchising industry as “the notion that franchises have a success rate of 90 to 95 percent.” This belief has lead novice entrepreneurs to jump on board and start their own franchise businesses – usually finding that success is not… Continue reading FINDING THE RIGHT FRANCHISE FOR YOU
from Wayne Maillet, President, Franchise Specialists. A year ago a good friend asked me to assist her in researching an independent distribution business which was for sale. It was a business that had been established for 10 years, had 6 long term employees, several long standing clients, and was profitable. I assisted my friend in reviewing the… Continue reading Overcoming the Risks of Entrepreneurship
