Posts Tagged ‘franchisee’

Franchise agreement signing

You have prepared everything you need to do to buy your dream franchise: Location, check. Market research, check. Financing, check. The due diligence, check, check and check. Now it’s time to move a step forward: Let your franchisor know that you are ready for reviewing and signing a franchise agreement.

Franchise agreement is where things are put at stake – Misinterpret it, and you’ll face the consequences for at least 5 to 10 years.

Franchise agreement can be 50 pages long, even more, and can be overwhelming to read word-by-word, especially if you are not familiar with…

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Good business relationship

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 with your franchisor to make the most of your investment in a franchise – A bad relationship won’t help you to achieve this.

A case study of franchisee-franchisor relationship gone bad

I remember a case, in which bad franchisee-franchisor relationship ruin a…

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Growing franchise

Can you get rich with franchising? Yes. Just like anything else in business world, you can achieve your financial milestones well if you do the right thing.

Being a franchisee for several years makes me realises that not all franchisees are born or created equal – The personal traits of the franchisees govern how well they can work with a certain group of franchises.

Those being said, there are general qualities that each and every franchisee has (and should acquire).

Rich franchisee poor franchisee

Inspired by the work or Robert Kiyosaki – Rich Dad Poor Dad, I…

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Happy family

There are certain criteria that are well-sought after by a franchisor in accepting an investor proposal to be a franchisee – And no, it is not always about how much money you have to fund the franchise unit purchase.

Your ability to fund the purchase of a franchise unit is one of the technical criteria, along with some others investment-related issues, such as your funding methods, your net worth, financial track record, and such. However, there are other criteria to help a franchisor consider a franchisee, beyond how much money you have to buy the franchise, such as…

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Birds on line

Franchising offers an opportunity for a budding entrepreneur to shortcut into entrepreneurship. Unfortunately, franchising is not for every entrepreneur.

Not all entrepreneurs can be a good franchisee – This is a fact you and I can not deny. Forcing your way into franchising can only eventually result in two exits: Struggling franchise units and going out of business.

Why entrepreneurs struggle as franchisees

By nature, born entrepreneurs are creative but having difficulty in following rules, as they think rules were made to limit their creativity. They like to play with their own set of rules and love…

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