Before You Buy A Franchise Get The Answers To These Three Questions

If you’re considering buying a franchise you should read this article. You’ll find some useful tips that you can use before moving toward a most important decision.

If Franchising Is Your Back Up Plan, Get A Job!

Franchise expert Dr. John Hayes, offers a reason why someone shouldn’t buy a franchise. This brief article is to the point.

Choice of Law and Forum Clarified in Recent Franchise Cases

This article on choice of law and forum provides insight into non-compete provisions in franchise agreements as regards California law. Franchisors and franchisees will find the results of these recent decisions helpful.

Five Indicators of a Successful Franchise Program

There are certain attributes that all successful franchise programs share. This article presents five of the most important attributes. Whether you’re a franchisor or an individual looking to purchase a franchise read this article to learn about what successful franchises have in common.

How Franchisees Can Perform Effective Employee Evaluations

Franchisees must rely upon their employees to assist in the operation and marketing of their franchise. An important component of employee leadership and development is the ability to conduct effective performance appraisals. The following tips can result in more effective employee evaluations and improved performance.

An Interview with Ron Berger, Franchise Industry Leader and CEO of Figaro’s Pizza

This is the second part of an interview with Ron Berger, CEO of Figaro’s Pizza. (Read Part 1 here.) Ron has been in the franchise industry for 36 years and has been a member of the IFA Board of Directors in the 1980’s, 90’s and until February, 2010. Part 2 of our interview includes a discussion of recent acquisitions by Figaro’s and a program that enables existing Figaro’s franchisees to benefit directly from the acquisition.

Technology and Franchise Marketing: An Interview with Nick Simard of InspiriaMedia.

FranchiseKnowHow wanted to get some answers about how social media, smart phones and mobile websites are impacting marketing strategies. We called upon InspiriaMedia a marketing firm located in White Plains, NY. Here's our interview with co-owner Nick Simard.

10 Things Franchisees Should Know About Their Competitors

Market analysis is a means of gathering important information about your market competitors. It gives you insight into the quality and techniques of your competitors and enables you to understand your market conditions. Find out what kinds of information you should collect and how you can go about getting it.

The Importance of Good Training for Franchisees and Franchisors

One of the major reasons people purchase a franchise is to acquire a business with a proven system. This proven franchise system should include an effective and comprehensive training program. Learn about the components of a successful franchise training program and find out why it’s so important for both the franchisee and franchisors.

Looking for a Franchise? Consider Purchasing an Existing Franchise

If you’re thinking of purchasing a new franchise, you may want to consider purchasing an existing franchise. Statistics indicate that, on average, a typical business changes ownership every four years. Franchised businesses are a part of this universe, and studies undertaken by the business brokerage industry report that franchised businesses follow the same pattern. Here are some things to keep in mind before purchasing an existing franchise.

FranchiseKnowHow Introduces Online Business Courses

FranchiseKnowHow provides online business courses for franchisees and their employees.

We've partnered with MindEdge, a premier online learning provider, to introduce a library of online business, management, communication and leadership courses.

These professional development courses are designed to enhance skills in Leadership, Management and more. All programs are condensed versions of courses developed for, and in collaboration with colleges and universities such as the Harvard Business School, Boston University, and other world-class institutions of higher education.

As a special introductory offer, all courses and course suites are available at a 10% discount off posted pricing for a limited time only.  Just enter Discount Code FKH10 when registering.

10 Ways Franchisees Can Grow Their Sales

A major reason people buy a franchise is to own a business with a proven operating and marketing system, a recognized brand and support services. Despite these features, the individual franchisee is responsible for growing his business. Here are 10 ways franchisees can increase their sales at the local level.

Buying a Franchise? You Better Understand Item 7 of the FDD

Item 7 in the Franchise Disclosure Document requires franchisors to set out in a prescribed format a franchisee’s estimated initial investment needed to start the franchise business. It’s important for individuals looking to purchase a franchise to fully understand what Item 7 contains. A leading cause of franchisee failure is being undercapitalized. Learn how to avoid falling into that situation.

The Benefits of a Franchise Preferred Vendor Program

Franchisors should actively organize and administer preferred vendor programs for their franchisees. An approved or preferred vendor program provides benefits for the franchisor and franchisee. Read this article to learn more about a preferred vendor program.

Creative Franchise Marketing Can Help Boost Franchise Sales

As franchisors and franchisees attempt to grow sales during these difficult economic times, creative marketing on the part of the franchisor can be an effective tool. Here is a suggestion on how to implement a program that can help increase franchise sales.

Home Based Franchises Grow in Popularity but Operating These Franchises Requires Certain Skills

As the popularity of virtual or home office businesses increase, so do franchises that can be operated from the home. Home based franchises provide individuals an opportunity to purchase a low cost franchise with the added flexibility of a home based operation. However, there are certain challenges that a home based office presents.

Five Lessons Franchisors Can Learn From Network Marketers to Expand And Build Their Franchise Companies

Franchise companies tend to think of themselves as a level or two (at least) above multi-level marketing (MLM) companies, but having worked in both industries I have discovered that MLMers (or network marketers) do some things more efficiently and effectively than do many franchisors. Here are five things you can learn from the MLM community to help your franchise thrive.

5 Questions You Should Ask Franchisors about Financing

As you continue your search for a franchise to buy, one important aspect may be financing. Whether or not you get that financing may depend on your prospective franchisor. Here are five financing questions you should pose to your potential franchisor before buying.

Loan or Lease? You May Need Both to Buy A Franchise; It's Important to Know Your Options

Leasing equipment for your franchise can be a viable alternative to purchasing. Franchisees can preserve valuable working capital and may reduce their personal liability by leasing versus purchasing their equipment. There are a number of other advantages that leasing offers.

10 Franchises Poised for Growth

We reviewed franchise concepts in two of the fastest growing industry segments: home healthcare and personal fitness. Using specific indicators we came up with ten franchises that met our guidelines. Read this article to see the franchises that made the list and to learn how they were chosen.

How Do You Avoid Double Talk When Interviewing Existing Franchisees?

One of the most important steps in the due diligence process of buying a franchise is to interview existing franchisees. I recommend that you interview as many as possible and that you visit at least one and spend at least part of a day exploring the franchise opportunity. After working in a franchise for a day, or a weekend, you might decide it’s not really for you!

Does Background Matter for Potential Franchisees?

For people looking to start their own business and become their own boss,  it’s important not to limit your options. If a potential entrepreneur has  no specific experience in a given industry, that doesn’t mean there’s not  an opportunity for success.

The Best Franchise Opportunities to Invest In

Investing in the right franchise opportunity requires the gathering and analyzing of a great deal of information. Choosing a franchise based upon current or short term trends should not be the criteria. The demand for products or services during the next decade is more important. This article provides a look into the future and where the best franchise opportunities will be. Some of these may surprise you.

A Simple Way to Evaluate a Franchise Opportunity

These simple guidelines can be used to begin an evaluation of an existing franchise opportunity. These guidelines also represent the foundation for building a franchise concept from an independent business. Follow this list to find important questions and attributes that you should consider when you search for a particular franchise. When you’re finished, ask yourself if the franchise program passes the test.

Are You Ready to Franchise Internationally?

At some point in time, franchisors will start receiving inquiries from international prospects.  For new and emerging franchisors, an interest in their franchise from other countries can be flattering. Before a franchisor decides to export their franchise concept to other countries they need to perform some self analysis and make sure they’re fully prepared for this new venture. Here are 11 important steps to follow before entering foreign markets.

Franchising your Business? Start with a Financial Model

Individuals looking to franchise their business should start the process by building a realistic financial model. This article provides a blueprint for franchising a business with an emphasis on the importance of using a realistic and conservative financial model.

The Laws of Franchising Remain Unchanged

In the franchise industry there are certain truisms which have remained virtually unchanged over the years. I refer to them as The Laws of Franchising. The following are six of these laws.

How Franchisees Can Use Social Media to Connect With their Local Markets

Learn how social media sites like Facebook and Twitter can help franchisees to increase customers and sales. Most franchisees can’t have their own franchise branded websites and must rely upon the franchisor site. Social media sites can be an effective tool to complement the franchisor website.

The Franchise Contract: Understanding the Personal Guaranty

One of the most important provisions of a franchise agreement is the personal guaranty. It’s important for prospective franchisees to fully understand the reason why franchisors require this covenant and what the implications are in the event the franchisee has problems. When performing franchisor due diligence, keep this factor in mind.

Where New Franchisors Can Find Capital

During current economic times, it’s often difficult for start-up franchisors to obtain investment capital. This article describes three potential sources of investment capital that can meet the capital needs of new franchisors.

Delegate It!

Learn how to more effectively delegate and improve your productivity and add more free time to your schedule. This article presents 5 tips for delegating.

The Importance of Franchise Operations

Once the franchise agreement is executed and the franchise fee paid, the relationship between the franchisor and franchisee begins in earnest. A competent and experienced Franchise operations Department is needed to train, support and lead a successful franchise program. This article describes what constitutes effective franchise operations for both franchisors and franchisees.

How Mobile Websites and Text Messaging Can Supercharge Your Franchise

The rapid increase in the use of “smart” cell phones has provided people with a mini-PC that can be used almost anywhere. Learn how mobile web sites and text messaging give franchisees great sales opportunities.

Franchise Direct Home Care Report

Here is a summary of the Franchise Direct report on the fast growing home care Industry. Another example of why the home care franchise segment will continue to grow. Learn more about this exciting franchise opportunity.

A Franchise Lesson Learned from Dave Thomas, the Founder of Wendy's

Learn how the founder of world famous Wendy’s grew the franchise into one of the largest in the world by believing in his product. This article presents a lesson and a dose of inspiration for franchisees and franchisors.

Franchisees Should Maximize the Benefits of their Discovery Day

When attending a Discovery Day, for a franchise opportunity, it’s important to recognize this event as a critical step in the franchising process. This article provides an outline of the steps a franchise candidate should follow when attending Discovery Day in order to maximize the benefits of this meeting.

How Franchisees Can Manage and Motivate Their Employees

In order to operate a franchise, most franchisees are highly dependent upon their employees. Learn how franchisees can be more effective in managing and motivating their most important asset, their employees.

Home Care: A Franchise Opportunity with a Dynamic Market

The home care industry continues to grow and will continue to represent a large market segment in the future. Franchise companies that provide home care to seniors are an excellent opportunity for franchisees. Read this article to learn why.

What the Sale of New Franchises May Reveal About a Franchise Program

In the franchise industry the sale of new franchises is often used to measure the strength of a franchise program. In some cases, fast tracking new franchise sales can lead a franchise program into trouble.  Learn how the sale of new franchises may not be the best indicator of a successful franchise program.

Just How Exclusive is an Exclusive Territory?

It’s important for franchisees to understand what rights they have when they purchase a franchise and receive a specific territory. This article provides a concise explanation of what exclusivity means when it comes to a franchise territory.

8 Warning Signs That Your Franchisor is Having Problems

Franchise companies are not immune to the financial challenges facing many businesses these days. Since franchisees are dependent upon their franchisor, it’s important for franchisees to identify warning signs that their franchisor is having problems. Find out what these warning signs are and how to respond.

The Importance of Using a Franchise Attorney

Before you sign the franchise agreement and write the check, make sure you’re using a franchise attorney to represent you and guide you along the way. Find out why it’s so important to use a franchise attorney and the benefits you’ll receive.

Why Franchisees Fail

Before you make a decision to purchase a specific franchise, you should speak with existing franchisees.  However, it’s important to know what questions to ask. Understanding why  franchisees fail can help you  ask the right questions to help you evaluate the franchise and your chances of success as a franchisee.

How To Get Your Franchise Start-Up Off To a Fast Start

The faster you start getting customers and sales at your new franchise, the faster you become profitable. Here are 5 marketing tips to fast-track sales for your start-up. How to get sales fast for your new franchise location .

Get To Know The Franchisor Before You Buy The Franchise

When buying a franchise, it’s important to evaluate the franchisor. This article will present tips on getting to know the franchisor before you sign the franchise agreement.

The Importance of the Franchise Territory

When prospective franchisees discuss their franchise territory with the franchisor, the focus is usually on the size of the territory. However, there are other important considerations. Here's what you need to know about franchise territories.

Five Key Attributes of Successful Food Franchises

What separates food franchises that are successful from those that aren't? Here are 5 best practices of successful food franchises.

Five Tips For Choosing The Right Franchise

There are hundreds of franchise concepts to choose from. Which is right for you? Follow these five tips to choose the best franchise for you.

Have a Franchise Question?

We'll be setting up a Q & A section about franchising soon. If you have a question you'd like us to consider answering online in the new section,  please contact franchiseknowhow@yahoo.com .

Washington State Court Ruling Could Adversely Affect Franchisors

A court ruling in Washington State requires area developers and franchise sales representatives to register as a franchise even when the franchisor is registered.

The Inside Story on Franchise Brokers

Most franchisors use franchise brokers to help sell their franchise. This article contains important insights about using franchise brokers.

Preparing Your Franchise For Sale

What you do before you seek buyers makes all the difference. Here are important steps you should take to get your franchise ready to sell.

Venture Capital Investment Updates for the First Half of 2010

This article includes results of Venture Capital activity for the first six months of 2010. Although the majority of investments were made in the technology sectors increased VC investment represents positive news for business owners and start-ups. The franchise industry can take comfort from these results knowing that VC capital is flowing once again. Given the popularity of clean technology start-ups perhaps a franchise model will be used to grow some of these firms in the future. Read more >>