Finding Locations for Franchisees
November 30, 2018 by
When franchising your business, if your business model requires that it operate out of a storefront or an office space; it is expected that you help your future franchisees find a location. You may ask, “Am I the one responsible to find locations for franchisees?” Finding locations can be tricky, time consuming and emotionally charged….
Does it Make Sense to Franchise Because My Name is Gold
October 19, 2018 by
So you have a business with a really clever name and as a result you have customers and/or clients who approach you and say, “this has to be a franchise because the name is gold!” And with many franchised businesses out there with a clever name attached, this is not an uncommon misconception. Your customers…
Franchising Revenue Recognition Rules
August 21, 2018 by
The Financial Accounting Standards Board (“FASB”) sets the standards for what is known as “GAAP” which stands for generally accepted accounting principles. You may or may not be aware that the FASB has set new revenue recognition standards that will go into effect for private companies in just a couple of months which is January…
Questions to Ask Before You Franchise Your Business
August 21, 2018 by
It is appealing to any business owner to grow exponentially. Sure bet you’ve thought about this many times. Ideally you want the quickest and easiest path to grow exponentially. You may know, there is really no such thing as becoming a fully branded business overnight. Perhaps you have tossed around the idea of opening up…
How to Duplicate Your Business
August 21, 2018 by
The whole idea of duplication is most business owners’ dream. And if you are like most business owners you are constantly wondering what is the best way to duplicate your business. Conceptually duplication sounds easy, but in reality it may not be as easy as it seems. The easiest path to duplicate your business (where…
Franchising is Regulated to Keep You Honest
August 21, 2018 by
Any change you make, every move you make, they will be watching you. Sound like a song? Well it is, but we are referring to franchising, specifically if you choose to franchise your business and what it will look like in the future because franchising is regulated. That’s right, it doesn’t stop just because you…
Why Time Matters for Franchisees to be Operational
August 14, 2018 by
There you are seriously thinking about franchising your business, weighing the pros and cons of what franchising means for you but then you realize it is not just all about you. It occurs to you that there might be some traps you will want to avoid when franchising. So you’re struggling to figure out what…
Do I Need Multiple Locations Before Franchising
July 31, 2018 by
As a business owner you may be under the impression that your business must have multiple locations before franchising or already be in operation in multiple markets. You may feel that once your business has reached the point where you have multiple locations or are in multiple markets that you have finally jumped some hurdle,…
Will Franchising Help Grow My Struggling Business
July 13, 2018 by
Franchising has the potential to help your business become a national brand and could be a solution if you want to rapidly expand your business at a rate that you could not otherwise do on your own. However, there is information out there suggesting that franchising will help grow your struggling business. So will franchising…
Mistakes New Franchisors Make
June 22, 2018 by
Franchising is an industry that has helped many business owners (like you) expand into different markets while at the same time allowing other entrepreneurs “to be in business for themselves, but not by themselves” (as the saying goes). It sounds great, right? And it is…. when franchising is executed correctly. However there are certain mistakes…
When Starting a Franchise Things to Consider
June 14, 2018 by
If you are like every other entrepreneur, you want to grow, become well-known, make money and you want it fast. So you figure you already have a business that makes money, maybe it’s time to start a franchise company and sell franchises off of your business. Franchising is exciting, powerful and yep has the ability…
Creating Franchise Friendly Documents
May 25, 2018 by
The requirement when franchising your business is to have a set of documents that layout in a particular format your obligations and responsibilities to a franchisee. The reason behind having franchise documents is so that there is transparency of your franchising company and well-defined expectations. In order to meet regulatory requirements when creating such franchise…
Franchise Partner Why this is a Bad Word
May 9, 2018 by
Recently we had a conversation with someone who was very eager to franchise his business and said he wants to be more of a “franchise partner” with people who buy into his concept. This business owner was using the term “franchise partner” loosely. As you will see below his intent was in the right place,…
Where You Should Franchise Your Business
April 27, 2018 by
As you are thinking about franchising your business one of the questions you are more than likely to have is where you should franchise. You may be wondering when you first start franchising if you should stay within your city, your state or immediately go nationwide. The strategy of where you should franchise your business…
Difference between Updating and Renewing Franchise Documents
April 12, 2018 by
When it comes to the topic of franchising you may be aware that before you can start selling franchises you need a set of franchise documents. These franchise documents are required by the Federal Trade Commission (“FTC”), prepared according to their guidelines and approved before you can offer franchises. Your franchise documents must be put…
Can Any Business be Franchised?
March 30, 2018 by
Look closely at the different services you use or businesses you purchase from. It’s likely that many of them are franchises! Technically speaking, any type of business can be franchised (read about the different types of businesses we have franchised). However, it is important to assess what your business really has to offer and will…
I Just Want Someone to Make a Franchise for Me No Scams
March 15, 2018 by
The internet, it can be a powerful tool to find answers and yet can easily bombard you with so much information it will make your head spin. If you are reading this article then more than likely you are seeking answers and a solution for someone to help you make a franchise for your business….
Why Franchise Systems Fail
February 27, 2018 by
Every year business owners take the leap into franchising. For many of these business owners franchising brings great success, however that is not always the case. Some of them are gone before you know it and this may leave you wondering what the hell happened. In our opinion, these businesses should have never been franchised…
Market and Sell Franchises Yourself
February 15, 2018 by
As you are thinking about franchising your business you may be under the impression that you need to hire someone (which may include franchise brokers or a new in-house sales person) to help you market and sell your franchises. Your head is spinning as you wonder how you will find such people (which when it…
Do I Need a Local Franchise Development Company?
February 1, 2018 by
Typically when you are looking to do business with a new company, the first place you start searching is in your own city or somewhere close to you and within your comfort zone. It’s not often that you are in need of a service where you have to look any further than your own local…
When Starting to Franchise You Don’t Need to Hire More People
January 15, 2018 by
When you think about starting to franchise, you may be under the impression that you will need to hire a team of people right away to handle all your franchise activity. You begin to worry about who you need to hire, how to hire, how much it will cost and how it will affect your…
What are the Elements of a Franchise Disclosure Document?
December 29, 2017 by
You are looking to franchise your business and realize you need a Franchise Disclosure Document. Then you ask yourself, “What is the Franchise Disclosure Document and what are the elements of a Franchise Disclosure Document?” Let’s shed some light on these things now. The Federal Trade Commission (FTC) regulates franchising so there is transparency between…
Successful Franchising is Keeping Franchisees Engaged
December 13, 2017 by
You have been thinking about wanting to franchise your business. Besides the glory and the money you make, have you thought about what your job will be as a franchisor? One of your jobs as a franchisor is to keep your franchisees satisfied and engaged. So you might ask… when franchising, what are some of…
Why Franchise Out a Business?
November 30, 2017 by
The Franchise Maker works with business owners who are seeking to grow their business and help them determine if franchising is a wise path. So why would someone want to franchise out a business? As you are talking with someone who owns a business (or if you own a business) you may hear that person…
How the Cost of a Franchise is Determined
November 8, 2017 by
When thinking about franchising your business more than likely you have looked at your competition to determine what they are doing and the cost of a franchise with them. Recently we spoke with someone who had done just that. She said, “I am looking at my competitor and see the cost of their franchise is…
Franchising Companies That Claim to “Do It All” Including Sales
October 26, 2017 by
When you decide to take the plunge and franchise your business you are presented with many options for who to use to take you through this process. There are all kinds of franchising companies out there that claim they will franchise your business and “do it all” from development to marketing and even sales. While…
When Establishing a Franchise is it State Specific?
October 12, 2017 by
You built your business to franchise. Yep, you want to scale it nationwide, so what are some important things to know when establishing a franchise and how to make it effective nationwide. Franchising is regulated by the Federal Trade Commission in an effort to protect franchisees against fraud. This is why franchising is considered a…
Franchising and Providing Ongoing Value to Franchisees
September 29, 2017 by
Imagine for a moment you have completed the process to franchise your business and are now offering your business as a franchise nationwide. When you get to this point, it is time to start marketing, advertising and begin talking with interested applicants. It is exhilarating when you have been talking with an interested applicant and…
What’s Your End Game Franchising May Play a Role
September 6, 2017 by
Every business owner has an end game in mind. You started their business to be independent, remove any glass ceilings and to pursue your passion. At some point in your lifespan as a business owner your focus shifts from just making money to how to work less and make more money, ultimately leading to an end game (at…
Dangers of Franchising Your Business Too Soon
August 24, 2017 by
This might be hard to do, but imagine you are looking to buy into a franchise. You find something that looks promising and you buy into the concept. As a new franchisee your expectations are that you are buying into a program that is already figured out. You are under the impression that all you really have to do is learn all the…
