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?”
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”
If you are looking for more flexibility, more empowerment and the chance to earn a lot more money, then transitioning from employee to starting a franchise can be a dream come true. However, the reality is that starting a franchise is hard work, and making it survive is even harder. In fact, 25 percent of all new businesses fail within the first year. That’s because there are a lot of obstacles that you will need to overcome and avoid.
Be sure to keep the five following first-year challenges for first-time franchisees in mind in order to keep your franchise — and your dream — alive. Continue reading “Franchise Ownership — First-Year Challenges For First-Time Franchisees”