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Franchise Opportunities – Easy to Run, No Experience Required

Ivan Widjaya — Sun, 30 May 2010 03:01:01 +0000

Franchising is not magic

“Franchise opportunities – easy to run, no experience required!”

In this article I want to be totally honest with you: Whenever you encounter such offer, not only in franchising but in any business opportunities, my only suggestion for you would be to stay away, even run away from them.

Franchises are mistakenly touted to be businesses that are easy to run – thanks to the proven franchise system in place. This is misleading and could lose franchisees money eventually.

Here’s the cold, hard truth: Despite the proven…

Should You Buy a Franchise Resale?

Ivan Widjaya — Wed, 19 May 2010 07:56:59 +0000

Franchise resale

If you consider yourself not having a knack in starting out business or buying a new franchise unit, you might want to consider buy a franchise resale.

A franchise resale is essentially an established franchise unit that already has built a credible track record in the marketplace and community. The number one benefit of buying a franchise resale is that you will get not only a proven franchise system, but also a franchise unit that has an established financials, business operation and customer base.

Despite the huge benefit, you…

Why do You Want to Buy a Franchise?

Ivan Widjaya — Mon, 03 May 2010 03:45:31 +0000

What is my reason in buying a franchise?

Choosing and buying a franchise is easy. The tough part is finding the right reason why you want to buy one. Learn from my mistakes.

I remember all the excitement that comes with the process of finding the right franchise to buy. Visiting franchise expos, talking with franchise owners, visiting franchisees’ stores, getting pitched by franchises’ marketing team… and so on.

All seem wonderful. All seem promising. All seem sure-fire.

I decided to pick one of the many. A business service center, the…

How to Choose an Ethical Franchise

Ivan Widjaya — Fri, 16 Apr 2010 06:37:39 +0000

Promise?

I heard too many stories of franchisees who “feel” that they were being cheated by their franchises, resulting in an under-performing, if not dying, franchise units.

The general rule of thumb in any business agreement is: read every word, and don’t forget the fine print.

Not to discredit franchisors, but some seem to have a subtle intention to “trick” franchisees into signing for franchise agreement. Alas, we can’t ask for franchisors to guarantee anything – they can’t, and even if they do, they are considered as both unethical and illegal.…

Refranchising: A Win-Win Deal?

Ivan Widjaya — Fri, 13 Nov 2009 04:39:47 +0000

Refranchising has always been a hot trend of the decade in franchising. The all-important question: Is refranchising beneficial franchisors, franchisees, or both?

Refranchising

Refranchising is basically about selling the franchisors’ own units to franchisees. So, yes, franchisees are buying established franchise business with well-run operation and positive cash flow.

To me, refranchising is a blessing – I am tired of starting up, and with franchising I expect more than just a start up business. For you who share my vision, you might be interested in refranchising, as well.

Why do franchisors

…

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Buying a Hobby-based Franchise: Is Your Hobby a Strong Factor in Deciding to Buy a Franchise?

Ivan Widjaya — Sat, 31 Oct 2009 16:57:19 +0000

Many people deciding to buy a franchise because it is closely related to their hobbies. My opinion: Hobby-based franchises are great, but let your hobby be your hobby.

Science franchise

I have talked with some franchisees in the past who are buying a franchise because it is their hobbies-turned-into-businesses.

One of their most common comments is: Let your hobby be your hobby.

To clarify: Not that hobby-based businesses (in this case, franchises) are bad. In fact, for the right people, hobby-based franchises can be extremely successful, considering the nature of hobby/entertainment…

Buying a Franchise: Do Your Due Diligence

Ivan Widjaya — Wed, 28 Oct 2009 06:43:39 +0000

Due diligence is the keyword to ensure that everything you have planned in buying a franchise will not go in vain. Proper franchise opportunity analysis can only do you good.

Franchise due diligence

Due diligence is resource-intensive. Doing it requires you to put on your business analyst hat, as well as your skepticism hat.

Unfortunately, choosing NOT to do the business due diligence will bring you problems and perils later on.

A price to pay for not doing business due diligence: I lost my franchise units

You don’t need…

Being a Franchisee can Lead You to More Opportunities

Ivan Widjaya — Wed, 14 Oct 2009 03:44:47 +0000

Franchising leads to many paths

Provided you buy a franchise that allows you to be an absentee owner, being a franchisee can present you with more business opportunities.

Franchisees are comprised of entrepreneurs, professionals, retirees and many other backgrounds – This wealth of background can add diversity, leading to a stronger franchise, benefiting both franchisor and franchisee.

A chance to network and partner with fellow franchisees

In my case, being a franchisee opens up more windows of opportunities – Building a good relationship with fellow franchisees can bring you more business…

Home-Based Franchises: Work-from-Home Franchises vs. Mobile Franchises

Ivan Widjaya — Thu, 08 Oct 2009 11:06:40 +0000

home-based franchise operations

Many people don’t realise that not all home-based franchises are enabling you to do most of your work from home. Some do allow your home to be the ‘headquarters’, where business operations are done mostly outside the comfort of your home.

Let us get this straight – Home-based franchises are those franchises that allow you to, well, use your home as the franchise ‘base’ or ‘headquarters’. Although, in general, home-based franchises describe those that allow franchisee to stay at home and (mostly) work from home, some home-based…

How to Spot for A Quality Franchise Operations before You Decide to Buy a Franchise: Observe the Own Units

Ivan Widjaya — Wed, 07 Oct 2009 15:34:10 +0000

KFC, New Plymouth, New Zealand

The trivial part in spotting the right franchise opportunity is looking for proofs on all of the franchisor’s claims, regarding franchise operations – the staffing, office/store management, and design/display, to name a few.

There are many ways to do so, but I personally like to visit the franchisor’s own units, to observe and take note the pluses and minuses I found. Visiting franchisees’ store or office is also a good, similar, idea – However, in order to find proofs to what was pitched in the franchise…