What’s better than buying a franchise? Could it be investing in an existing franchise for sale instead? There are many reasons why this could be the right decision for you. After all, when you start a franchise business, you’re bringing a brand, product or service to a new area. The company may have successful franchises […]
12 Criteria of Franchisability While it is impossible to determine the franchisability of a business concept without a significant amount of analysis, the iFranchise Group has identified a series of 12 predictive criteria that assess the readiness of a company for franchising and the likelihood that it will achieve success as a franchisor. Credibility To […]
This is a question that I am often asked and to be honest, there is always a lot of debate about this interesting aspect. Let’s first look at the definitions of an entrepreneur and a franchisee. An entrepreneur is an individual(s) that develops a concept and manages a business venture to gain profit by […]
Many business owners dream of seeing their business grow and scale over time – not just for their own fulfilment, but in the hopes of eventually selling that business and turning in a worthwhile profit. To make that happen, you’ll often need a lot of capital investment to spur growth for your business – unless […]
The most common misconception about a franchise is that it’s a “business in a box,” but in reality, a franchise is far from a pre-packaged business. In fact, it’s only a contractual agreement between a franchisor and a franchisee, or a big company and an individual (you!). Aside from the basics, everything else is up to […]
There is an obvious appeal to starting a business by buying a franchise. Whereas starting a business often comes with a lot of unknowns, a franchise is proof of a successful model already in motion. That doesn’t mean that buying a franchise equals instant and sustained success. In fact, the mythical “statistic” that says that […]
As a franchisor travelling around and chatting to other business owners, one of the questions I get asked the most is “How or when will I know if my business is ready to be franchised?” And it’s one of those questions that is pretty impossible to answer – I firmly believe that the success of […]
This is an extremely testing and a challenging time for many franchise businesses. It has not been business as usual for the past few months and unfortunately some franchises have had it worse than others. Many conversations that have and are still taking place are focussed on how tough things are. It has meant […]
Franchising your business can be a rewarding experience when done right. Many business owners dream of seeing their business grow and scale over time – not just for their own fulfillment, but in the hopes of eventually selling that business and turning in a worthwhile profit. To make that happen, you’ll often need a lot […]
Company culture matters. In the franchise world, culture makes the network stronger and can contribute to the overall growth and success of a brand. Having a shared sense of values and goals between franchisor and franchise owner sets the tone for long-term success, and finding the right culture when selecting a franchise is paramount. […]
