Franchising has increasingly become a go-to avenue for aspiring entrepreneurs looking to start their own businesses. It offers the advantage of operating under an established brand with the benefits of proven business systems and support from a franchisor. Before...
Does it seem like there is literally a Starbucks on every corner? Is there a Subway just down the block from another Subway? You’re not imagining things. Before you invest in a franchise, you want to understand more about the concept of “franchise cannibalization” and...
A productive relationship between a franchisor and franchisee is crucial. Such a successful working relationship is based on a number of things, including vision, innovation, communication and expectation. Franchisors brings the ideas to the market with the...
Many people’s dream is to run their own business – to hone in on a passion and let the world know. One way to accomplish this, is to start a franchise. There are dozens of do’s and don’ts when it comes to starting a franchise. In this blog, let’s focus on some of the...
It is no secret that Tesla Motors has made significant strides within the automotive industry. They capture the idealistic image of modern American liberalism. Elon Musk, Tesla’s CEO, is recognized for implementing boldly innovative strategies that defy against...
If you have thought about opening another franchise location, you may have considered taking on a partner. Know what to look for before you sign. A true partner Partners can help shape and strengthen the future of your business but taking on a partner can be a...
Singing a contract to become a new franchise owner can be an exhilarating experience that could offer many benefits if you have the right conditions. Many have often seen decades of success, but the less fortunate ones could see their efforts fall apart within a...
Only 30% of family owned franchises will survive after the owner retires. Furthermore, it is estimated that only 10% of franchisees have succession plans in place. Do you have a plan in place for your children to take the reins once you retire?What is succession...
Over the past year, a focus on women has spread nationwide, even making local waves here in New Jersey. While the dialogue mainly featured harassment topics, discussion of female empowerment in the workplace went hand-in-hand. Women deserve the opportunity to have...
When you become a franchisee, you sign a legally-binding contact with the company. Once you sign the contact, you are bound by its requirements, and are stripped of your autonomy. This does not mean that you should not sign a franchise contract, it just means that you...