Why Is Territory Important in Franchising?
Buying a franchise is like buying a real estate property. No, we are not referring to a physical building. We are talking about the geographical area you are going to get as a franchise owner. Your franchise territory. Your “property.” Franchise Territories There are various ways to define a territory in franchising. One common way […]
5 Tips for Securing a Business Loan
A lot of entrepreneurs will require external funding to fulfill their dream of owning a business. In this post, we will provide five tips for getting a loan with the best terms when starting a business. 1. Be Ready- Your first impression matters. Handing in a “bank-ready” request can go a long way in determining […]
How Important Are Franchise Royalty Fees?
If you have some knowledge about franchising, then you probably know that franchisors collect a royalty fee from franchise owners. Every franchisee has a contractual obligation to pay a certain percentage of their sales to the franchise company over the terms of the franchise agreement. Although this payment is usually made weekly, it can also […]
Checklist for Opening a Small Business
Opening a business can seem like a lot of work. As a prospective business owner, there are many financial, legal, and practical requirements that you will need to meet before starting a business, and that’s why you need to be organized and focused. In this post, we will give a checklist that will help you […]
7 Leadership Skills That Make a Successful Franchisor or Franchisee
A franchise system requires effective leadership to succeed either as a franchisor or franchisee. In the franchising world, leaders (franchisors) make more leaders (franchise owners), who go on to make more leaders (managers or employers). If you are looking to invest in a franchise opportunity, it’s important to consider the traits of an effective leadership […]
5 Facts You Probably Don’t Know About E-2 Visas
One of the perks of residing in the US as an entrepreneur is the availability of many business opportunities you can explore. The dream of many people coming to America is to own a business to take care of themselves and their families. And the US government helps make this dream possible for foreign investors […]
What Are the 7 Parts of a Business Plan?
Opening a business can be daunting, but it does not need to be. With a well-written plan in place, you will be able to remain focused and organized when starting out your own business. It’s also important to create a business plan if you would need to secure financing from banks or other traditional lenders. […]
16 Important Questions to Ask a Franchisor Before Buying a Franchise
One of the most important steps in the franchise buying process is a thorough due diligence examination to be sure that you are making the right choice. In this post, we’ll provide a list of top questions to ask a potential franchisor during the research process. Let’s dive right in! Here are questions to ask […]
Today’s Franchisees: 5 Things You Should Expect From Your Franchisor
With so many franchise opportunities available today, would-be franchise owners can be overwhelmed by the number of choices in the marketplace. But it’s nice to have plenty of options – especially when making a big decision like purchasing a franchise. So, the question now is: how do you narrow down the field and choose the […]
3 Things a Franchise Attorney Can Do for You When Purchasing a Franchise
As a prospective franchise owner, there are many ways the services of an expert franchise lawyer can benefit you when starting your new business. In this article, we will discuss three important things a competent franchise attorney can do for you and your business in general. Let’s dive right in. Who is a franchise lawyer? […]