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Adventures in Online Entrepreneurship
Posts Tagged with "Franchising"
Key Steps to Buying a Fast Food Franchise
There’s no doubt that investing in a fast food franchise could be a lucrative decision – fast food franchising is, after all, a $125 billion dollar a year industry. However, buying a fast food franchise requires a lot of hard work. If you’re thinking of becoming a fast food franchise owner, you should consider following [...]
Continue reading...Most Common Franchising Mistakes
Friday, May 16, 2008
Franchising can be a wonderful, fulfilling experience – but it can also be a depressing, disenchanting experience. Unfortunately, there are a number of franchisees that, much to their discouragement, are faced with the harsh realities of franchising. Why? Take a look at the following mistakes many entrepreneurs attempting to become franchisees make. 1) They’re just [...]
Continue reading...How Can You Get Out of a Franchise?
Wednesday, May 14, 2008
The law tends to favor the franchisor over the franchisee when it comes to breaking a franchise contract, primarily because franchisors are able to limit their liability via UFOCs and franchise agreements with built-in clauses and disclosures. It’s no wonder that franchisees have little wiggle room when opting out of an agreement: franchisors are required [...]
Continue reading...How Much Can You Make in Franchising?
Wednesday, May 14, 2008
Franchisors often don’t give straight answers to franchisees asking the question “How Much Can You Make in Franchising?” due to the numerous legalities involved. To go into detail: the Federal Trade Commission (FTC) has strict requirements regarding earnings claims statements for franchisees. In a franchisor’s Uniform Franchise Offering Circular/FDD, earnings claims statements must be accurate [...]
Continue reading...What’s Safer: Buying a Franchise or Starting Your Own Business?
Friday, May 9, 2008
Have you always wanted to own and operate your own business? Given that there’s a high failure rate for independent, non-franchise businesses, you might want to consider buying a franchise instead. After all, franchising provides a proven system coupled with the support of a larger organization – invaluable pluses for first-time and therefore inexperienced business [...]
Continue reading...Selling Your Franchise: What Are Your Rights?
Friday, May 9, 2008
Would you like to sell your franchise? Easy enough in theory, but not necessarily so easy in practice – the terms and conditions for selling your franchise are outlined in the Franchise Agreement, and Franchise Agreements are as a rule drafted with the interests of the franchisor in mind. Hence, you may very well find [...]
Continue reading...Negotiating the Terms of Your Franchise Agreement
Friday, May 9, 2008
It is of course up to the franchisor to decide whether one not its franchisees can negotiate the terms of a franchise agreement. Unsurprisingly, the majority of large, established franchisors will not allow franchisees to make changes to the franchise contract, since they tend to have a history of successful, content franchisees and are aware [...]
Continue reading...The FTC on Earnings Claims Statements
Friday, May 9, 2008
Are you considering buying a franchise? One of the first steps you ought to take is to determine whether that franchise is doing well or poorly financially, which involves determining what the franchise’s actual quarterly and/or annual earnings are. The FTC gives franchises an opportunity to disclose franchisee earnings information via the Item 19 section [...]
Continue reading...The Key to Franchise Success? Target a Narrow Customer Base
Friday, May 9, 2008
If you’re thinking that purchasing a franchise concept that appeals to as many people as possible equals success, think again: targeting a narrower customer base may be a better way to go. As a new franchisee, you want to distinguish yourself – I mean, let’s face it: you’ll have lots of competition to deal with, [...]
Continue reading...The multi-billion dollar online pizza order business
Wednesday, May 7, 2008
In the past seven years, Papa John’s has made a lot of dough from online ordering — more than $1 billion to be exact. Other chains in the fiercely competitive pizza industry are tapping into the technology craze to give customers ways to order pies other than through the standard phone call or trip to [...]
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Friday, May 16, 2008
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