Should I Invest?

Today I’m going to tell you a little story about what happened to me. Friday, I was approached by a gentleman and his wife and they asked about a specific franchised restaurant concept/brand. They were retiring with a bunch of money and they wanted to know if they should invest in the concept. My response to them was, Continue reading “Should I Invest?”

Who Came First?

Who Came First?

 

One of the most interesting things about franchising are the stories of the brands and how they got started. Who was this person or person(s) that had the vision to create a product or service and make it so popular that it became a household name?

So, this week I decided to do some research into the history of some of my favorite brands. While I was digging around in the archives, I found that some brands have competed with each other for decades. What’s more interesting is how some of the stories of these brands are intertwined. So, in this video I’m going to share with you which franchise came first.

Continue reading “Who Came First?”

5 Things You Should Include in a Letter of Intent

5 Things you Should Include in a Letter of Intent

Most franchisees and/or small business owners lease space for their business. In this post we’re going to cover 5 basic clauses to make sure are in your Letter of Intent. These clauses are important to negotiate up front in your Letter of Intent so that you don’t waste your time, resources, and give up your leverage negotiating them when you get to the Lease.

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What are Franchise Royalties?

What are Franchise RoyaltiesAfter our last blog post we received some questions about franchise royalties. It is certainly an area that you should be deeply aware of when you are deciding between franchise opportunities. Today’s post is a general overview of Royalties, what you get for their payment and what you can expect in return. We’ll also work through an example.

First, what is the definition of a royalty? A royalty is the payment a franchisee makes to the franchisor for them to use their concept in an effort to generate for revenue and profit. Continue reading “What are Franchise Royalties?”

10 Steps to Opening a Franchise

In this Blog Post, I’m going to share with you the 10 Steps to Opening a Franchise.

Opening up a franchise or any small business can be daunting. There are hundreds of tasks that need to be completed most, within a certain time-frame. Risk increases with ignorance and to that end, its important to understand the big picture, the context of the entire sales and development processes. In this article I’ve outlined a high level overview of the how to open a franchise unit. Its important to note that this post is intended to be a road-map. The specific how-to’s for each task will be covered in a separate posts.

With just a few exceptions, this process can be used to open any small business.

Continue reading “10 Steps to Opening a Franchise”