Archive for the ‘Buy a Franchise’ Category

Environmentally-friendly franchises are picking up the pace – With consciousness on going green emerges worldwide, businesses, including franchises, practicing environmentally-friendly and socially-responsible principles will help them to gain more edges than those that are not.

There are some fast growing franchises embracing the “go green”-related practices and policies that attract environmentally-conscious franchisees.

The fastest growing green franchise categories

According to an article on Entrepreneur.com, there are three fastest growing areas:

1. Areas of public concern: This includes energy conservation and recycling. Some offer federal tax incentives or incorporate significant recycling programs for the products they sell, which brings in additional retail business. Areas of public concern franchise companies include Cartridge World USA and Solar Power Inc.

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Franchise ownership is one route to entrepreneurship and financial independence, provided you buy a franchise with the right knowledge and mindset.

Unfortunately, for the sake of seeking new franchisees, some franchise opportunity offers are simply misleading, even degrading.

Here is what I found searching on Indeed for the term “franchise opportunities jobs“:…

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I stumbled on an article on Yahoo! Small Business, that (again) put franchise ownership as one of 7 most overrated businesses.

Kelly K. Spors and Kevin Salwen, the article writers, have conversed with small business experts to identify the overrated businesses. Other than franchise ownership, the other six are: Restaurants, direct sales, online retail, high-end retail, independent consulting and traffic-driven websites.

The culprit that put franchise ownership on the list is, again, the franchise agreement. “…too many people don’t understand the risks associated with franchising and sign restrictive franchise agreements without thoroughly researching their franchisor and their contractual obligations.”

With all due respect – While small business experts can say whatever they want, but I don’t agree that franchise ownership is overrated.…

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Reading franchise business publications and attending franchise expos will give you some ideas on how the bottom line – the financial analysis – of franchise opportunities you are interested in.

As some, if not most, franchises are keen to recruit new franchisees, some of them are utilising their financial projections as tools to pitch franchisee candidates.

My main problem is this is: They are projections and based on averages.

I don’t know how about you, but to me, averages are misleading.

Consider this simple illustration:

Suppose you asked a car dealer how many cars he sells in a day. He would answer about 3 cars a day.…

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You have done your homework and have found a great franchise to buy. What’s the next step?

There are many paths you can take as your next step, but I suggest you to talk with the franchisees of the franchise company you are interested in. Most likely than not, having a chit-chat with several franchisees will give you an idea or two about the franchise companies – good words and bad words.

A great franchise company is the one that has franchisees as the evangelists. Of course, franchisees are generally required to keep all the “secret recipes” remain as, well, secrets. However, they do have something to share to other, especially in day-to-day operations and franchisors’ support.…

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Buying a franchise is not a simple task these days – With virtually hundreds, if not thousands, franchise opportunities present, choosing some, let alone one, opportunities that you are interested in is trivial. You need help – You need the services of a franchise consultant.

A franchise consultant can offer you expertise and guidance from every step involved in buying a franchise, starting from looking for the right franchise opportunity to closing stages of the purchase process.

Here are 7 reasons why consulting with a franchise consultant is the best way to find and purchase a franchise:

1. Free and confidential consultation
   The consultancy is free for franchisee candidates, as the franchisors are the ones who cover the fees.

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You can’t simply please everybody. This fact also applies in franchising.

If you are a franchisor, you can’t simply keep all of your franchisees happy, no matter how well you set the SOP (a.k.a. the “game plan”) and how hard you try to please your franchisees.

The cold hard truth is, “bad” franchisees will nag, whine, and even stab at your back no matter how perfect your franchise is – They simply can’t be pleased.

The truth is even worse if you are a franchisee. Your fellow franchisee that has a bad attitude toward the franchise can also impact your franchise unit.

Why “bad” franchisee is bad for your franchise, whether you are the franchisor or a fellow franchisee?…

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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 words, franchise fees and royalties are expensive.

Non-franchise business opportunities (BOs) are smart – They see a market to tap into, and they use “No franchise fees, no royalties” to pitch to potential investors.

Although BOs have their rights to use whatever marketing methods they feel the most effective, but I suggest you not to fall into the trap.…

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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. How people are being misled? The culprit is the widespread belief that buying a franchise gives you a huge opportunity to succeed – The coveted 95% success rate.

In another article, Mr. Libava indicates that the 95% success rate of franchise ownership is a myth (and an urban legend), as there is no reputable source that could back the stat.…

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Looking for franchise opportunities you are interested in is a bit trivial, especially if you are presented with literally thousands of franchise opportunities, online.

To help you save time on searching for franchises to buy, I have 8 online resources to recommend you, along with the reasons why you should consider visiting them.

Why do I only recommend 8 online resources?

While many other resource sites can be added into the list, they are, in my opinion, offering pretty similar information with the rest of franchise resources, thus making them less useful compared to those listed in the top 8 below.

Without further ado, here is the list.…

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