Franchise Buyer and Owner Blog

It seems that most of the information available about franchising is written with the buyer in mind, and very few resources are available for the would-be franchisor.  If your business concept is “hot” and you think it’s time to consider franchising, it may be tempting to navigate this terrain on your own, but business consultants generally advise against it.  As the field becomes more competitive, it is usually best to work with a franchise consultant who can get your business set up for franchising.

They say buying a franchise can be a “game-changing” investment, but it can also be an expensive experiment.  Will your first purchase be that magic win, or will it lead to later regret?  Not every franchise has the success of McDonalds or Subway, but not every franchise starts out with a large investment.

If you're thinking about buying a business, franchising may be an option to consider. One of the best reasons to buy one is how much easier it is to get started, but franchises are far from "fail safe" opportunities. Despite the fact that many people believe them to be a safer investment, there is risk and uncertainty with any business. Even though they have a proven system in place, it may also be quite restrictive. Before you start searching for a franchise business, be sure to get familiar with these five franchising myths.

If you're thinking about buying a business, franchising may be an option to consider. One of the best reasons to buy one is how much easier it is to get started, but franchises are far from "fail safe" opportunities. Despite the fact that many people believe them to be a safer investment, there is risk and uncertainty with any business. Even though they have a proven system in place, it may also be quite restrictive. Before you start searching for a franchise business, be sure to get familiar with these five franchising myths.

Owning a franchise business may require adherence to certain marketing plans, but that doesn't mean you cannot acquire more customers using other techniques. Franchisees may feel handicapped by contributions to the company's "Marketing Fund," but those dollars usually fund a corporate branding campaign.

People who have been out of work for more than six months may find themselves becoming progressively less marketable to employers. In fact, some job listings have gone as far as telling them that they "need not apply." The situation with the long-term unemployed has persisted, despite the fact that overall unemployment figures have fallen to 7.8%. If you are one of the five million Americans who fall into this category, you may feel like giving up, but there are other ways to get yourself back to work.

With all the hustle and bustle of the holidays, it might be hard to imagine starting a business in January, but that is exactly what so many people are doing. Maybe it's the prospect of spending another year in a dead-end corporate job, or the reality of dwindling income that hits them when W-2s are delivered, but January is a popular month for starting a new venture.

If you're like most entrepreneurs, you would happily exchange the old 9-to-5 workday for the freedom of business ownership, but have you ever really pictured yourself owning a franchise? The romantic notion of starting a business isn't always so glamorous once you realize how hard it is to start from scratch. Wouldn't it be easier if you could just have a proven formula for success? Fortunately, franchising offers most of the benefits of starting a business without all the risk. So why do so many enterprising business owners try so hard to avoid it?

Ever since the economic bubble burst and global credit markets got tighter, many banks decided that small business lending was just too risky. It is especially difficult to get a small business loan when one hasn't yet established business credit. When it comes to successful entrepreneurship, it could come down to a "you either have it or you don't," scenario. Some franchising companies will tell you to borrow from their resources, but they rarely offer competitive interest rates.

Can smart phone technology really help small businesses grow?  It all depends on who you ask.  Some entrepreneurs say they bought their first smartphone because they wanted to start accepting credit cards at remote locations.  Others own one because they can always get directions to clients’ houses, scan QR codes at trade shows, and download repair manuals when faced with that “impossible handyman project.”  But not every small business owner is ready to purchase a case of iPhone 5s for their workforce.  They worry that the phones will be a distraction and they’ll be paying people employees to watch YouTube or play Words with Friends.  Productivity studies have found that these people would have found another distraction somewhere else.

For the average working woman who is balancing the demands of work and family, the idea of working from home seams idyllic.  What could be better than getting up at the same time and arriving to work earlier, without the stress of commuting and without figuring out what to wear?  Men and women from all walks of life are enjoying the newfound freedom of working from home, but they don’t always tell you about the downside of telecommuting,

Let’s face it; every business owner wants to save some money, but it isn’t easy to cut corners on overhead.  Ever-changing tax laws make it possible to put more money I your pocket while allowing for better business tax deductions, so it makes sense to seek out available tax breaks annually.  Some business owners will ask their tax accountant or controller to seek out the latest tax breaks, but it might be more profitable to educate yourself first.

Whether you own one franchise or fifty, you already know how important it is to hire the best employees.  As they say, “The smaller the business, the more hiring the right people matters.”  This is especially true if you are an investor who relies on your employees to handle day-to-day operations.   When the 100^th employee you hire turns out to be a disaster it will have a small impact on your business, but when the 3^rd employee you hire is a problem, everything suffers.  So how do you recruit the best employees when your time and resources are limited?

One thing I’ve learned after owning several small businesses is this:  Always speak with a candidate’s personal and professional references.  You can learn a lot about a person from their resume, but it’s impossible to really know them until you thoroughly interview their references.

Once you decide that franchising is your next career move, it may take a while before you select the right business model.  While it may be a long time before you determine the type of business that works best for you, the best part is when you start researching franchises online.  Not long ago, entrepreneurs would have to send away for starter kits from potential franchisors, and then spend hours reading up on all the details.  But today’s business owners can quickly search out the perfect franchise by category, location, price range and more.  Not only that; finding a franchise online can be fun.

Many new entrepreneurs would rather start their own business from scratch than buy an existing franchise from the owner; but there are some very practical benefits to avoiding a direct purchase from the franchisor.  Franchise businesses are generally front-loaded with many start-up costs, which could take a new owner several years to pay off.  Most enterprising young owners are willing to assume these high costs because they believe in the value of a recognized brand.

As the world adapts to the slow economic recovery and families struggle to maintain their standard of living, corporate executives are looking for more income stability.  This is particularly true for women, who want the challenge of a professional job with ability to manage their own time.  As a result, many are seeking out franchises for sale by searching in franchise directories.  Are franchises the perfect solution for women?

With a labor force that is about 50 percent female, women are looking for income equality and opportunities for advancement.  Balancing marriage, family, home and career can be nearly impossible in a traditional corporate environment. They are seeking out franchises for sale to carve out a more flexible career for themselves.

While many disenfranchised corporate workers may be ready to start a business, they are still somewhat gun-shy about taking the risk.  Perhaps this explains why low-risk, low investment franchise businesses are more popular than ever.  Unlike the top franchise opportunities, which are mostly in the fast food category, these lucrative startups are likely to be based in the home.

If you have been thinking about starting your own venture, you may have gone back and forth about whether it’s really a good idea.  Sure, you want “out” of the corporate world and you relish the idea of being your own boss, but what if your startup never really gets started?  What if you give up your job and your nest egg, only to find that your business idea wasn’t so great after all?  Maybe it’s time to start looking at a franchise directory for your inspiration.

Interested in finding an existing franchise for sale?  Women are the fastest growing group of franchise owners in this country, and they make the business of franchising look attractive to enterprising women everywhere.  Articles are being published regularly that profile successful women in the franchising industry, but few have offered aspiring business owners insight about why franchising is so ideal for women.  One thing is certain; there are plenty of organizations and institutions that are ready to help women locate a franchise for sale or help them with financing.

It’s almost springtime, and that can only mean one thing: plenty of businesses for sale by owner will be available in Colorado.  Similar to the real estate market, businesses also seem to go on the block in early spring in anticipation of new buyers entering the market.  This may also mean that franchisors will be actively pitching new franchise opportunities to brand new entrepreneurs.  If this sounds like the time of year for you to enter the market, it may be worth considering an existing franchise instead of a new one.