Franchise opportunities expo or franchising fair is always visited by a lot of people, worldwide. Especially in some part of the world, franchise opportunities expos seem to attract a large number of visitors in record breaking pace – One of the proofs that franchising is recession-resistant. I have attended some local franchising expos for quite…
With all the hypes surrounding social media, not to mention the battle in popularity between Twitter and Facebook, one question arises: Will social media make a difference to franchising? If so, how to use it for the benefit of your franchise? An early answer to the former question: Social media is making a difference to…
It seems that, to some people, the biggest downside of franchise opportunities are the franchise fees and royalties. Those two are the reason why some people ‘despise’ franchising and look to non-franchise business opportunities. Their main reason is that the fees and royalties are stripping off a large part of the business’ profit; in other…
I just read an article posted by Joel Libava (The Franchise King) about not including buying a franchise as a backup plan after someone is being downsized. Unfortunately, I do heard stories of people who put buying a franchise in the top list of what-to-do-after-you-are-being-downsized – I agree with Joel: Franchising is not for everybody.…
When it comes to franchising, franchisee-franchisor relationship is often more important than the business itself. In franchising, if you have a bad relationship with your franchisor, you will not run your franchise unit well. Not that your franchisor is subjective in giving support and assistance, but like it or not, you need to teamwork well…
Did you know that you can actually negotiate a franchise fee with your franchisor? While what a franchise offer you is typically a well-set system, including the standard operational procedure, territory-plotting and franchise-related fees, you can actually negotiate on certain things, depending o the franchisor’s policy. This may include your franchise unit’s territory exclusive area…
