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Franchise Buyer and Owner Blog

This is the blog of eFranchiseSale, an Internet franchise for sale by owner (FSBO) directory.   This blog is dedicated to providing franchising tips and ideas to new or experience franchise business owners.  We strive to keep this blog easy to read and understand by business people.  Please feel free to comment.

Selling a Franchise? What You Need to Know

selling a franchiseAnyone who has ever bought and sold a franchise will tell you; it's a whole lot easier to buy one than it is to sell one. This doesn't mean there isn't a market for previously-owned franchises; they are actually in high demand, but some franchisors make the process rather challenging. According to a recent article on Inc.com, "Can You Sell a Franchise?" the sale of a franchise is much different than an independent business. Serial entrepreneur John Warrillow discusses some of the challenges and possible setbacks that may come up when attempting to exit a franchise.

   

The Benefit of Buying Franchise "For Sale by Owner"

online_business_directoryIt's not that common, but more and more entrepreneurs are learning about buying a previously-owned franchise.  Even diehard devotees of franchising have weighed in on this trend, saying that the "franchise for sale by owner" market is booming.  One reason for this is that the cost of entry into many well-known franchises is prohibitive for first-time buyers.  Instead of giving up entirely on this type of business, the online marketplace makes it easier to find that perfect opportunity. 

   

Why is Now the Time to Consider a Franchise?

franchise_entrepreneurIf you listen to economists on CNBC, it's easy to get excited about investing again. After all, the Dow closed at a record high last week, unemployment is going down and home prices are rising in 48 states. If there was ever a time to get excited about the economy, it's now. But some skeptics believe we are about to see this bubble burst. How does one take a realistic approach to investing when there seem to be so many vastly different opinions?

   

Franchising 101: Becoming a franchisor

franchise_consultantIt 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.

   

Pros and Cons of Buying a Franchise

franchise_pros_and_consThey 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.

   

What Are the Five Biggest Myths About Franchising?

franchise_mythsIf 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.

   

What Are the Five Biggest Myths About Franchising?

franchise_mythsIf 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.

   

How to Advertise Your Small Business Online

digital_marketing_franchisesOwning 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.

   

Unemployed or Underemployed: Is Buying a Franchise Like Buying a Job?

buy_a_franchise_2People 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.

   

Is 2013 Your Year to Start a Home-Based Business?

entrepreneur_franchiseWith 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.

   

Six Franchises You Can Run From Your Home

franchises_from_homeIf 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?

   

Should You Use Retirement Funds to Buy a Franchise?

Retirement_FundEver 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.

   

How Smartphones Are Helping Small Businesses Grow

Smart_PhoneCan 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.

   

Are You Sure You Want to Work From Home?

Work_Fom_HomeFor 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,

   

Top 2012 Tax Breaks for Small Business Owners

Tax_BreakLet’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.

   

How to Hire the Best Small Business Employees

Hire_the_BestWhether 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 100th employee you hire turns out to be a disaster it will have a small impact on your business, but when the 3rd 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.

   

Researching Franchises Online Has Never Been Easier

SearchOnce 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.

   

Tips for Buying a Franchise from the Owner

Business_DealMany 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.

   

Best Franchises for Sale for Women

Business_WomenAs 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.

   

Top Low-Cost Franchise Opportunities Are Home-Based Businesses

Home_Based_BusinessWhile 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.

   

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