People value their time. Unfortunately, most bosses don’t. In fact, a recent study by Ernst & Young found that two of the top five reasons why workers quit their jobs are a lack of flexibility and having to work excessive hours.
So does owning a franchise come with flexibility?
If you are fed up with a lack of flexibility in your current career, then franchising could be a great option for you. Here are some examples to help answer that franchising FAQ.
Continue reading “Franchising FAQ: What Kind Of Flexibility Comes With Owning A Franchise?”
Eighty percent of businesses fail within the first five years. However, the success rate for franchises is markedly better, with a recent study uncovering that only 15 percent of franchises go out of business during this same time frame.
Franchise operators clearly enjoy more success during their formative years than independent business owners. But why?
A big reason is because of the training that they receive. Whereas entrepreneurs and independent business owners must figure out everything — marketing, financing, sales strategies, hiring, etc. — on their own, franchisees receive the guidance and direction they need to get their operations up and running as quickly and profitably as possible.
At Bin There Dump That, we recognize the important role that training plays in preparing our franchisees for success. If you’re interested in becoming a part of our team, we want to take this time to prepare you for our training program.
Here’s a look at some of the franchise training you can expect to receive: Continue reading “Franchising FAQ: What Type Of Franchise Training Can I Expect To Receive?”
Between securing funding, creating a business plan, balancing your books and overcoming common challenges, building a great franchise business takes a lot of work. But to keep it running — and keep it successful — you’ll need to build a great team.
But with so many job seekers out there, how can you determine the right hires for your franchise? The key is to ask the right questions during the interview process.
Asking generic questions, such as “can you tell me about yourself,” or “what is your greatest weakness” will get you generic responses.
Instead, you’ll want to delve deeper to get a better understanding of each candidate’s skills, accomplishments, attitude and behavior. Continue reading “The 8 Best Interview Questions For Small Business Owners”
Transitioning from the workforce to franchise ownership can be one of the best things that you can do for your career, your finances, your family and your future. However, the best time to make that transition isn’t so clear cut.
For some, it makes sense to leave their day jobs behind and jump right into running the franchise on a full-time basis; for others, it is better to establish their businesses before making such a bold leap and leaving their former professions behind.
So which approach is right for you? Continue reading “Should You Quit Your Job To Start A Business? The Pros And Cons”
The first several months of a business’s life cycle are the most critical for its long-term success.
Unfortunately, between raising capital to cover startup costs, hiring new employees and dealing with lifestyle changes that impact your finances and your family — it can also be the most stressful for new franchisees.
The good news is you can skip the headaches and still enjoy all of the benefits of franchise ownership without starting from scratch by buying an existing franchise. This process is known as a franchise resale. Continue reading “Franchise Resales: Is Buying An Existing Franchise A Good Idea?”
When Bin There Dump That founder Mark Crossett revved up the first truck in the company’s history back in 2001, little did he know that he would be starting more than a vehicle — he was starting a blueprint for success.
Continue reading “Franchise Opportunity: 4 Reasons Why BTDT’s 100th Truck Celebration Matters”
If you are considering becoming a franchise operator, it is essential that you carefully evaluate the many different options available in the marketplace to find the right fit for you. However, it’s also important to know that you aren’t the only one conducting an evaluation. While you are doing your homework on the franchise, the franchise will be doing its homework on you.
They will assess your skills, qualifications and readiness to make sure that you have what it takes to join the system and build a successful franchise operation.
Get your ducks in a row. Here are four tips to help you pass the test and be prepared to become a franchisee. Continue reading “Want To Become A Franchisee? Don’t Ignore These 4 Preparation Tips”
Patrick Daley is no stranger to starting anew. The New Hampshire Native has relocated many times, to cities big and small throughout the United States and Canada. A seasoned veteran of the landscaping industry, Patrick eventually moved to Toronto to start his own company. His moving days were over — or so he thought.
Eight years later, Patrick sold his landscape business. While the sale gave him some financial flexibility, he quickly realized that he lost the professional flexibility that came with being the head of his own business.
“I started working for another company, and I decided that it wasn’t for me,” he explained. “I just felt like being my own boss again.” Continue reading “Franchise Operator Spotlight: A New Franchise And New Life In The Florida Sun”
Between enhanced work-life balance, a built-in support system and the chance to make a lot of money, it is easy to see why transitioning from the workforce to franchise ownership can be a great move for your career.
However, after you make the move, things can become a little more difficult. In order to achieve success as a franchise operator, the following five challenges of owning a franchise will require hard work, determination and perseverance. Continue reading “The 5 Biggest Challenges Of Owning A Franchise”
Any franchisor can accept a franchise fee. But when investing in a franchise, you shouldn’t accept anything less than a great return on your investment. Along with the rights to use the franchise name, you should also seek out a franchise group that offers a strong business model, an experienced franchise management team and a track record of franchise operator success.
Lastly, one of the most important — and valuable — things to look for when selecting a franchise is territorial exclusivity. Continue reading “4 Reasons Why Franchise Territory Exclusivity Is Important”