Disclosure Document Disclosure documents are a summary of information on the franchisor, its executive and the franchise agreements. The document is provided to the prospective franchisee in order that they may make a more fully informed business decision. In certain provinces in Canada and throughout the states, franchisors are required by law to provide a… Continue reading Disclosure Document & Agreement
Franchising first started with the licensing of Singer sewing machines in the1890’s. It became more predominant as a business growth strategy in the 1950’s. It has since evolved and continues to evolve with changes in technology and laws. It has become a part of every major industry and has proven its ability to grow brands… Continue reading Introduction to Franchising
A strong franchise system is only part of the equation. In order for the business to be successful, it requires a strong franchisee. The franchisor provides the vehicle, but the franchisee is still required to drive. Assess your abilities, skills and commitment. A strong franchisor will also be assessing you. In every franchise system… Continue reading Top 10 Qualities Of A Successful Franchisee
There are some great franchise opportunities available in almost every industry. (Let me know if you find an industry that does not have the benefits of an established brand and the buying power of a group, as I see this as an opportunity to change an industry.) There are also a few poor franchise operators.… Continue reading HOW TO SPOT A STRONG FRANCHISE SYSTEM
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
