What Are The Legal Requirements For Starting A Franchise?

Before you open your doors, be sure that you don’t leave yourself open to any legal scrutiny.Starting a franchise is an exciting endeavor. However, before you open your doors, you’ll need to make sure that you don’t leave yourself open to any legal scrutiny or government penalties.

Thus, there are very specific steps you will need to take from a legal standpoint. Here is what you need to keep in mind: Continue reading “What Are The Legal Requirements For Starting A Franchise?”

4 Signs That Show You’re Serious About Starting A Franchise

So you are thinking about becoming a franchisee? That’s great, but you can’t just call up a franchise group and open your business the next day.

On the contrary, starting a franchise takes time, preparation and effort — and that is especially true if you are looking to join a top franchise company. That’s because, good franchise systems are protective of their brands and reputations, and they look for serious candidates who can contribute to the success of the franchise as a whole.

Like any business, a franchise requires money — to open it, to run it, and to sustain it.How can you prove you’re serious about starting a franchise? By showcasing these signs: Continue reading “4 Signs That Show You’re Serious About Starting A Franchise”

Starting A Mobile Franchise? 6 Types Of Insurance For Franchisees

There are many reasons why starting a franchise could be the right move for your career. However, even the most successful franchisees can have something unexpectedly go wrong, and that’s why having the proper business insurance products is so important.

Here are six types of insurance for franchisees that should be on your radar in order to keep you protected. Continue reading “Starting A Mobile Franchise? 6 Types Of Insurance For Franchisees”

Franchising FAQ: How Did You Educate Yourself About Starting A Franchise?

serious research comes before starting a franchise 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?”

Starting A Franchise? 5 Ways To Budget Your Living Expenses

You can make a lot of money as a franchise operator. However, before you do, you’ll have to make some adjustments in how you manage your personal finances. That’s because starting a franchise requires a significant investment, and it could take several months before you break even.

During this franchise startup period, you will want to keep as much money in the business as you can in order to overcome any unforeseen franchise obstacles. As a result, you probably will not be able to take home the amount of money that you are used to in your paycheck.

So how can you adjust to your new financial situation while keeping your franchise and your personal finances afloat? By following these tips: Continue reading “Starting A Franchise? 5 Ways To Budget Your Living Expenses”

Starting A Franchise — The Top 3 Reasons Why Franchisees Fail

Starting a franchise is no easy task. But after you’ve got yours up and running, that’s when the real hard work of building your business — and staying in business — begins.

Thousands of new businesses start every year, but only 75 percent make it through their first year, and 55 percent fail within five. While the survival rate for franchises is higher than the rate for independent companies, staying in business is no sure thing. However, there are some surefire things that can cause a franchise to fail. Watch my video or read on to find out what they are. Continue reading “Starting A Franchise — The Top 3 Reasons Why Franchisees Fail”

Starting A Franchise — How Can I Find A Business Partner?

Have you ever heard of Hewlett-Packard? Baskin-Robbins? Anheuser-Busch? These businesses — and thousands of others — were co-founded by two people who worked closely together to make their companies find a business partner at networking eventssuccessful. Following in their footsteps and finding the right startup partner could be the key to your success, too.

Here’s a closer look at what it takes to find a business partner … the right business partner. Continue reading “Starting A Franchise — How Can I Find A Business Partner?”

Starting A Franchise? Here Are 5 Franchise Red Flags To Avoid

There are many great reasons to transition from the traditional workforce to franchise ownership. However, if you are considering making the change in search of greener pastures, you need to make sure that you avoid common franchise red flags. That’s because, while investing in a strong franchise can generate a great return, selecting the wrong franchise can generate a lot of frustration, headaches and regret.

In a recent video, as Vice President Of Bin There Dump That and Franchise Coach, I explored five of these red flags that new franchise operators should avoid. So before you sign that franchise agreement. Continue reading “Starting A Franchise? Here Are 5 Franchise Red Flags To Avoid”

Starting A Franchise: 5 Myths And Misconceptions Debunked

Starting a franchise? Look no further!Are you searching for a new business opportunity that will get you out of the corporate rat race and put you in control of your own future? Then the truth is starting a franchise may be the perfect career move for you. Unfortunately, some falsehoods might prevent you from pursuing this path and realizing your goals.

Continue reading “Starting A Franchise: 5 Myths And Misconceptions Debunked”

Preparing Your Family For Your New Franchise

Preparing Your Family For Your New FranchiseOne of the many reasons people become franchise operators is to spend more time with and better support their families. However, before you embark on any new business venture, you’d better get their support.

That’s because transitioning from the workforce to franchise ownership is a big change that can impact not only your career but also your family’s finances, schedules and lifestyle.

So if you’re thinking about making the switch, make things as easy as possible for you and your family by taking these five tips to heart. Continue reading “Preparing Your Family For Your New Franchise”