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Maintenance of Required Equipment and Franchise Agreement Clauses
A franchisor must insure that each franchised outlet maintains the equipment used in the business operation. To make sure that the services and products maintain consistency and quality the equipment must also be in top notched working order.In our franchise agreement we decided to add a clause, which addressed this very issue.Read more…Franchise Agreements; Maintenance, Repair and Appearance of Business Location
Image is so vitally important to a franchising companies brand-name, that each and every franchisee must maintain consistency of appearance in their franchised outlets. This means that maintenance and repair of the business location must be up to standards of the confidential operations manual of the franchised business at all times.If a franchised outlet is in the state of disrepair and looks it, but customers will know and it will be difficult for them to maintain consistency and quality in the goods and services they perform and provide.Read more…Franchise Transfers to a Corporation or Limited Liability Company
As a franchisor often one will be presented with relatively simple transactions, which on paper have significance but in reality will not change the franchise relationship between the franchisor and the franchisee. Even so such changes could be significant down the road. For instance, take the assignment of the franchise agreement, which is transferred into a newly formed corporation or LLC.Read more…Termination of Franchise Agreements
Why would any franchisor want to terminate a franchisee who pays royalties into the system, assists the franchisor in extending his brand name and helps the franchise system gain market share, growth and profitability? Indeed all good points to the question; why? Well often a franchise outlet is under performing, undermining the system or not accomplishing those objectives.Read more…Franchise Expansion Thru Regional Team Manager Agreements
One potential marketing strategy for franchisors is to set up two-year agreements with star franchisees to assist in the expansion of regional areas without selling those areas a master franchises. In doing so the franchisor can have more control over the marketing of new franchises and say over which territories and agreements will be entered into, without giving up any control.The fee structure could be a percentage of franchise fees in each sale and a percentage of royalties.Read more…International Franchise Agreements and Language Issues
When dealing with foreign investors and franchising in another country often language and interpretation of word meanings can get clouded. Additionally tenses or gender of words can change what a sentence says or means in an agreement. In franchising Internationally this becomes a real issue because of the number of potential countries an international US Based, Australian or European Based Franchisor might franchise in.Read more…The Biggest Critics of Your Franchise Brand Name
The biggest critics of a franchise brand name come from two groups of people and neither of them are you customers. If our brand is lousy your customers will most likely simply not say anything, after all every day average brand names are a dime a dozen in the market place. No you biggest critics are of course your competition, who will never miss a swipe if you make the smallest mistake; you can bet they will mention it in high-volume conversations, jabs and snickers.Read more…Business Case Study Automotive Detailing Franchise Company
How do automotive detailing companies start? What makes them work and how do they grow? How do they choose which services they will offer?Read more…Entrepreneur Speaks on Brand Extension in the Franchise Cleaning Business
On question I have been asked over and over again from prospective franchisees of our companies has been one in which I am very adamant about it; do we require prior experience? No, like many franchise companies we actually frown upon it and think it is such a detriment that we usually disqualify the franchise candidate if they do have prior experience. And we always ask the prospective franchise buyer what sort of experience they have in our industry.Read more…FTC Reviews The Franchise Rule
After more than a decade since the last attempt to update the 1970’s Franchise Rule The Federal Trade Commission is at it again. May I ask why we are looking at reviewing these rules for franchising, where no problems exist? Why we are looking to tighten up ambiguities, which over time have occurred in this sector, when we should be dismantling the over regulations choking the industry?Read more…Is Buying a Franchise More Like Buying a Job?
Some folks have likened the buying of a franchise to buying a job. In some cases this is true such as with the 7-11 franchises and the way they work. Inventory is automatically ordered and paid for out of deposits made and a check for the difference between the costs is paid two times per month.Read more…Public Relations - And What It Means for Your Franchise
The First Rule for building a Successful Franchise Business is to establish a great PR operation. You need to build a good reputation and as quickly as possible.You have to understand the value and the overwhelming benefits that flow from having an impeccable, transparent and reliable reputation so make this a major goal, as the continued success of your franchise business depends on it.Read more…Franchise Work Vehicles Should Have a Flag on Them
If you own a franchise and have company vehicles, be sure you have a flag on it. First let’s discuss the American flag. Franchising is the epitome of the free enterprise system.Read more…Why Good Franchisors Do Not Sell To Hostile Franchise Buyers
Having run a franchising company for a decade and then retiring I always thought that it was quite interesting when a franchise buyer was completely hostile and combative during the application and approval process. You see in franchising it is not about selling franchises, it is about choosing the best candidates to promote your brand name. If you get a loser in there and they are hostile, renegades or mean to customers they ruin your image, team spirit and you just end up with too many problems or litigation down the road.Read more…Why Every Franchise Should Use Electronic UFOC Distribution
In today’s world time is very important, if not everything. Time to prepare, time to market, time to close, time to roll out, and many other time related events can determine in great part whether a franchise venture is successful or yesterdays news. Franchises have been burdened, or perhaps mandated is a better choice of words, to comply with Uniform Franchise Offering Circular (“UFOC”) law for 25+ years.Read more…A Fracas in the Franchise - Keep Your Customers by Keeping Your Workers
As a previous owner of a Franchise I know the importance of maintaining employee commitment, loyalty and enthusiasm in maximising customer satisfaction, generating positive customer perception and protecting your investment.Repeat business is the life-blood of any business worth its salt. Coupled with a structured approach to increasing market share, looking at the ‘window of opportunity’ and delivering services with excellence and cultivating positive customer perceptions would appear to be a recipe for success.Read more…Franchise Sales; Recruiting of Laid Off Employees
Because of corporate downsizing, many people have been laid-off or voluntarily taken early retirement packages and/or incentives. This happens when times are good due to mergers and acquisitions or when the economy is in the dumps and corporations are working to cut payroll costs. Almost all of these people have absolutely had it with corporate life; they feel burned and unappreciated.Read more…Franchise Agreements, Cash Flow and Royalty Payments
One of the biggest concerns in franchising for a franchise company is cash flow. And that means a franchisor must pay careful consideration to royalty payments from its franchises and franchise outlets. Not only is it important to receive the money, but it also is smart to make sure that the money is due, when the franchisee can pay it and when the franchising company will need it.Read more…Franchise Agreements and Hurricane Clauses
Have you considered franchising your business? Well many business owners wish to do this. Franchising can be a great method for rapid expansion and brand expansion but do not forget about the weather.Read more…1 Secret to Streamlining Operations and Eliminating Weakness in a Franchise Company
The only way to become more efficient is to always seek ways to improve operations at the unit or outlet level. Nowhere in modern business is this more important than in a franchise organization. One secret to streamlining operations and eliminating weakness in a Franchise Company is to do constant evaluation and to ask the secret questions, Below is the question and some answers from a regional meeting in Portland, OR in 1999.Read more…
Most Recent Articles in Franchise category
- Business Franchising Territories - By: Nazeer Daud
Business franchising arrangements are usually conducted on the basis of a particular geographic area or territory. The franchisee breaks up the licensing of his business between different franchising territories, to ensure there's no overlap of competition between franchises and to geographically grow the business nation wide or even world wide. - Key Business Franchising Contract Terms - By: Nazeer Daud
Business franchising agreements are commonplace, and tens of thousands of these contracts are signed every single day around the world. More often that not, the agreements underpinning business franchising arrangements are written by qualified and skilled commercial lawyers experienced in this kind of arrangement. - Why Business Franchising Is A More Popular Investment Choice For Banks - By: Nazeer Daud
Critical to starting a business is having the appropriate finance in place, and money alone is the number one reason most - as much as 90% - of business ventures fail during the early start-up period. - Franchises in the UK Market: Previous experience necessary? - By: Michiel Van Kets
The number of franchises in the UK increases every day as awareness of the market grows and more people choose to opt out of the traditional 9-5 work routine and work for themselves. - How Business Franchising Works - By: Nazeer Daud
Business franchising is a less risky way to start a business. If you're considering giving up your job to work for yourself, you might like to consider business franchising options that may be available. - The Advantages Of Business Franchising - By: Nazeer Daud
If you are looking to start a business using the franchising model, then there are certainly lots that you have to consider before hand. It's also, probably, wise to consider consulting with a suitably qualified specialist. - Planning Your Business Exit - By: Nazeer Daud
Does your business have its liquidity event mapped out? Entrepreneurialism can be demanding, and drafting a plan can often be vital. If you have raised venture capital then the chances are that your investors will expect you to achieve liquidity at one point in the future. - Could You Be a Franchisee? - By: Noel Guilford
Becoming a franchisee allows you to be your own boss, gives you the back-up of an established business, provides training and support and allows you to reap the profits. Too good to be true? Well maybe not… - Looking For Business Growth? Don’t Forget Franchising - By: Noel Guilford
Franchising has established itself as a successful way of growing a business, although like any business venture it presents risks. Careful planning is needed to ensure that the business model is fully developed and that the franchise is structured properly.But if your business is successful but you lack the capital to grow it as fast as it is capable of growing put franchising on your list of options. - Thinking of Buying a Franchise? What the Bank Manager Will Need to Know - By: Noel Guilford
The cost of taking up a franchise can vary dramatically. It will include the initial franchise fee, then possibly training, premises, shopfitting, equipment, vehicles, stock, working capital and marketing costs. It will also vary according to the nature of the business. Nevertheless banks are keen to lend to franchisees who have done their homework and can present a sound business case.