Even though you have always dreamed of being a business owner, starting your own venture seems out of reach. Depending on your interests and skills, tapping into the success of an existing franchise might be the solution. After all, according to the U.S. Census...
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Franchise Law
Leveraging the Franchisee Bill of Rights to protect your business
Like many Americans, you may have found your personal entrepreneurial dream by becoming a franchise owner. Whether you operate a restaurant, tanning facility, child care center or office administrative support service, you naturally have concerns that are unique to...
Are you still the boss if you buy a franchise?
Owning a franchise offers several benefits for entrepreneurs. Buying a franchise means agreeing to follow specific rules and meet certain responsibilities. This might be a change of gears if you come from an independent business background. To help you understand...
Do you have what it takes to become a franchisee?
You have always aspired to become a business owner. If a franchise opportunity presents itself, you should prepare to ascertain whether it is viable and whether you have what it takes to be a successful franchisee. To succeed in any business venture, you must put in...
Should I incorporate my franchise?
Buying into a franchise may seem like a wise move since your business will share a brand already trusted by the public. Still, franchising offers some of the same risks as any other business venture, such as the possibility of lawsuits against you. This is why some...
What is a franchise disclosure document?
The Federal Trade Commission requires a franchise owner to provide a prospective franchisee with information to allow the potential buyer to make an informed decision. The information provided is in a franchise disclosure document. The FDD is part of the FTC franchise...
Can you scale your franchise?
Owning a franchise can provide opportunities for growth and success, as well as access to an already-there consumer base. The lower risks often associated with this business model might help you feel more secure in your ownership. Scaling as part of your business plan...
Does your franchise agreement contain these critical elements?
Before signing a franchise agreement, be sure that you understand that terms of the agreement and that the agreement you enter into is sufficient to protect your interests. Understanding some basic elements of a franchise agreement can help guide your business in a...
How do franchisees benefit from protected territory?
Concerns about competition are natural for many business owners. You want to run a company that can compete with similar businesses for the dollars of the buying public. This is probably why you seek to run a franchise with a proven track record. However, what if the...
How to lower your risk level when buying a franchise
Business decisions involve at least some degree of risk, and buying a franchiseis among them. How much risk you face depends on certain variables, such as how established and successful the franchise system is already, the support provided by the franchisor, whether...