Once you have signed a franchisee
As a franchisor, you need to implement a good induction process and follow it up with a great training and support system. Following the correct steps in franchising a business is essential.
Blog Articles
The Huge Power of Small
A Franchise Simply Radio Show with Paul Dunn from Buy1Give1 Many of the most successful franchises are not complex but are based on simple concepts which connect to people and give them what they want. The things that move us are actually tiny. As Seth Godin, in his book Purple Cow, has said, we are … Read more
The Difference Between Licensing and Franchising – Does It Really Matter?
So often I am asked, “What is the difference between licensing and franchising?” Usually followed very fast by the statement, “A license is so much easier and faster to set up and so this is the way I want to go.” And you are right, a license is easier and faster to establish than a … Read more
The Disadvantages of Franchising
First of the disadvantages of a franchise: Losing your autonomy can be scary for some when going into franchising. Rather than changing plans, business models, and rules whenever you like, your group of franchisees will scrutinise you for every decision you make. If you are not delivering on what you have promised them, things can turn sour very quickly.
Advantages of Franchising Part 2: For the Franchisee
Being a franchisee takes a lot of this weight off your shoulders, since a lot of the hard work has already been done for you. While it does take some time, effort, and start-up capital to get your outlet open, there are a lot of benefits to becoming part of a franchise. Read below to learn about the benefits for a franchisee.
Advantages of Franchising Part 1: For the Franchisor
Franchising has been around for many years, and has proven to be an excellent way for businesses to expand. It allows individuals to own and operate their own business under a business model that has been tried and tested, and ideas can be bounced between franchisor and franchisee to gain greater success. Deciding to become … Read more
Coaches, Mentors, Specialist Advisors – Building Your Team
We have come to the last post in our series and what better way to bring it all together than to talk about teams! After all, choosing your team will help link those ever important pieces together for you!
The Fine Print – Legal Documents and Agreements
This part is a bit more daunting than the six preceding components of our series – the basics, the people, the vision, the finances, and the the operating systems – because the preparation of legal documents and agreements is a highly specialised area. However, since they stitch together the hard work you͛ve thus far, a closer look into them is absolutely necessary.
Be a Smooth Operator – A Solid Operations Manual Equates to Franchising Success
Depending on the complexity of your business, the Operations Manual could be a single document or multiple documents. It comes down to how detailed you need to get for each area to ensure your franchisees are well equipped to run their business.
Money in a Franchise Group
It’s obvious, the need for profit drives all business. And franchise groups are no exception. It is the desire for profit by…