Posts Tagged ‘business strategy’
Is it Right to Compete with Your Fellow Franchisee?
October 22nd, 2009 | 
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Entrepreneurs and business owners are fierce competitors. Franchisees, too, are great competitors. As a franchisee, should you take on your fellow franchisees?
Franchise competition
I have said numerous times that franchising is about relationship. Along with your franchisor and fellow franchisees, you build the same brand, in such a way that if one franchisee sucks, the others will feel the impact, too. On the other hands, if you have a great team work with the other franchisees, your franchise prospers.
However, each and every franchisee has his/her own vision of what his/her franchise units will become. To achieve this vision, you need to take on competitors, whether you…
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Why Quick Franchise Expansion is Not Always Good for the Franchisees
McDonalds franchise units, Orlando
Visiting franchise expos, I generally pitched with the following, “We have expanded well from X to Y franchise units in 3 years into franchising.”
While expansion, for me, is one of the key indicators of the franchises’ potential, it is often misleading franchisee candidates into thinking that rapid expansion means strong franchise company with great potential.
Quick expansion means more emphasise on quantity and less on quality
Expansion is great, but you must understand that franchises that put expansion into the top priority in their business plan present franchisors and franchisees with a double-edged sword.
In one side, being expansionist presents the franchisor and the franchisees…
Multi-Unit Franchise Ownership: Double the Profits (and Headaches?)
Multi-unit franchising
You have done your due diligence well – You have searched and evaluated dozens of franchise opportunities you are interested in, and you have finally picked the one suit you best. And your hard work proves right – Your franchise unit is profitable and growing well.
The idea of multi-unit franchise ownership – owning more than one franchise units of the same franchise company – is suddenly pop out of your head.
On paper, the idea looks good: If you own a franchise unit, owning two of the same franchise is double the fun, right? Maybe. Maybe not.
The opportunities of multi-unit franchising
Being in the same franchise…
