While quality low-cost franchise offer the same benefits all solid franchise brands do including good training, strong leadership, a supportive franchisee community, and proven successful systems, they provide some unique ones too.
To folks unfamiliar with the true scope of franchising, fast food restaurants are the cornerstone of franchise ownership. Not surprisingly, we receive many queries about specific fast food brands from the ubiquitous McDonald’s, Subway, and Dairy Queen to more regional favorites like White Castle, Culvers and Aroma Joes.
Paul McCulloch and his wife Paula own 11 Smoothie King locations, soon to be 14, throughout the greater Nashville, TN area as well as the surrounding communities. He shares his thoughts regarding what you should consider prior to buying a franchise and how to be successful in franchising. Click here for the full story or here…
In our research, we’ve found that many Food & Beverage franchises struggle to maintain strong franchisee satisfaction. Still, there are a number of brands that stand out among the rest, some outperforming the industry benchmarks year after year.
What’s particularly interesting is when a brand manages to maintain a great reputation and earn loyalty among its customers also receiving high ratings from its franchisees in terms of the training and support provided, brand leadership, financial opportunity, and more.
Estimates say the overall addressable home services market size is between $250 billion to $400 billion.1 Key factors driving it’s growth are: Increasing number of two-parent households: Households in which both parents work full time now stand at 46% and the median household income for families with two full-time working parents is $102,400.2 The…
Along with financing the start-up of your new franchise business, it’s important you have enough liquid capital to run the business until it starts generating positive cash flow. So, while you’re researching different franchise opportunities, you might want to ask franchisors and current franchisees how the corporate office ensures new franchisees have enough money early on.
In many cases, a franchisee’s personal income is significantly lower than the profits that their business might generate. This is due to a variety of things including loan payments, required business reinvestment, and taxes; all of which get paid out business profits before a franchise owner can ‘pay themselves.
The three most common factors in workplace engagement: A meaningful vision of the future; a sense of purpose; and great relationships.
Entrepreneur Magazine was on-hand at the IFE (International Franchise Expo) event in New York City. While there, they spoke with several different franchisors about what it takes to be a successful franchisee. The video above features some of these conversations, and reiterates a common theme: Franchising is not for everyone. That being said, there are some excellent…