It is imperative to educate yourself before starting a franchise. However, your education can’t end after the business begins. It’s important to continually sharpen your skills and expand your knowledge in order to remain ahead of the curve — and your competition.
That’s why we put together this list of the best continuing education resources for small business owners. Check them out and let your learning begin. Continue reading “Franchising FAQ: What Are The Best Continuing Education Resources For Small Business Owners?”
Between improving your work-life balance, building something for your family and earning a lot of money, starting a franchise is a great way to enhance your future. However, once you start out, there may be some unexpected roadblocks that get in your way.
To help you steer clear, we took this popular franchising FAQ to our franchisees from throughout the United States and Canada and asked them to take a look back into their pasts and tell us what they would do differently if they could start over.
Here are their top franchising tips: Continue reading “Franchising FAQ: What Would You Do Differently If You Had To Start Over?”
Franchise territory exclusivity is one of the most important factors to consider when researching a potential franchise.
That’s because having a protected, generous and clearly defined territory will ensure that you won’t have to compete with fellow franchisees for customers; that your staff will remain loyal; that you will control the reputation and perception of your brand in your area; and that you will have an easier time getting franchise funding.
Now that you have an idea of why franchise territory exclusivity should be a determining factor when considering investing in a franchise, it’s equally important to understand how franchise systems actually determine their territories.
That’s because territory size and scale can vary widely, and you want to make sure that the franchise you select recognizes offers territories that are designed with you and your goals in mind. Here is a closer look at an answer to a common franchising FAQ: How are franchise territories determined? Continue reading “Franchising FAQ: How Are Franchise Territories Determined?”
Do you want to start your own business and be your own boss? If so, you’re not alone. Nearly 40 percent of workers want to start their own companies, according to a report by the University of Phoenix Business School.
The good news is, many aspiring entrepreneurs will make this goal of business ownership a reality. The bad news, however, is that 80 percent of those that start an independent businesses will fail within five years.
That’s why many people are pursuing a different path and starting a franchise instead. In addition to the fact that franchises enjoy a much lower failure rate (just 15 percent of franchises fail within the first five years), there are many other distinct advantages of franchising.
If you want to own your own business, starting a franchise could be a great choice for you. However, you need to choose the right franchise in order to be successful. That’s why doing your homework and educating yourself about the different options in the marketplace is so important.
To help you do just that, we asked our very own franchisees to share their tips for researching franchise opportunities. Continue reading “Franchising FAQ: How Did You Educate Yourself About Starting A Franchise?”
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?”
At Bin There Dump That, we know that we have a great product and an unbeatable service model. However, in order for our franchisees to thrive, their potential customers need to know it, too — and a successful franchise marketing strategy is essential to making that happen.
But how can you create a strategy that works for you? To find out, we asked our own franchise operators from throughout North America to weigh in.
Here are the top franchise marketing tactics that helped them grow their franchises, and that you can use to grow yours. Continue reading “Franchising FAQ: What Franchise Marketing Tactics Helped Grow Your Operation?”
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?”