When someone starts a franchise location, they are the owner of that business. They’re just paying the licensing so that they can use the branding, products and marketing of the overall franchise. This is similar to a small business, but they don’t have to work on...
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Franchise Law
Why every franchisee needs an exit plan
Like every other business, success is not guaranteed with a franchise. You may run into unexpected hurdles or unforeseen challenges that can impact your ability to continue operating. Therefore, it makes sense for every franchisee to have an exit strategy. The...
What is the main advantage of running a franchise?
If you want to be a business owner but you’re not interested in starting your own company from the ground up, one option is to become a franchise owner. You do have to pay for the proper license in order to run the franchise, but it gives you the ability to operate...
How potential franchisees can make the most of “Discovery Day”
If you’re considering becoming a franchisee, you may have the opportunity to participate in a "Discovery Day" with a franchisor. Discovery Days are an opportunity to find out if a franchisor is the right fit for you before you enter into an agreement. To make the most...
Financing a franchise
The up-front costs to open a franchised business can be as little as $20,000 and as much as many millions of dollars. For many franchisees, this means finding a way to finance their investment. Many financing options exist and prospective franchisees should consult...
Common misconceptions about owning a franchise
Owning a franchise can be very rewarding. It also requires a significant financial investment and a substantial personal commitment of time and effort. While most people have some familiarity with franchising, at least as a customer of franchise businesses, there are...
Are you prepared to commit to a franchise? How can you tell?
Owning a franchise can be your ticket to entrepreneurial freedom and financial success. But before jumping headfirst into a franchise agreement, ensure you are truly ready for everything the business entails. Buying a franchise is not a decision to take lightly....
Reasons Franchisees Succeed
With any new business, there is always the potential for failure. Prospective franchisees often look into franchising because they want to run their own company and they are looking for the most stable way to become a business owner. Franchisees are more likely to...
What joint employer liability means for franchise businesses
Franchise businesses have become a cornerstone of the modern entrepreneurial landscape, offering individuals the opportunity to own and operate their own businesses with the support of an established brand. However, amidst the many advantages and opportunities, there...
How do you know if a franchise is a good fit for you?
Entering the world of franchising is a significant decision that could transform your career trajectory. The benefits of operating under an established brand can be considerable, but it's essential to recognize that owning a franchise comes with risks and...