How to Research Companies That Do Franchising
January 31, 2020 by
You are serious about wanting to franchise your business and so you start doing your research on companies that do franchising. You are not sure who to trust or what to believe. There are so many companies that you come across that offer franchise development in addition to a potpourri of other services. You are…
Financial Performance Representations vs Audited Financial Statements
January 30, 2020 by
The franchise development process makes mention of two financial concepts: Audited Financial Statements and Financial Performance Representations. Often times these two topics lead to confusion. Audited Financial Statements and Financial Performance Representations are two different things. Let’s start off with a definition of each. Audited Financial Statements Audited Financial Statements are statements that are prepared…
How Much Money Can I Make Franchising My Business
January 28, 2020 by
When thinking about franchising your business you probably have lots of questions. One question we sometimes get when talking with people about franchising is, “How much money I can make franchising?” Let’s tackle this now. Is it Possible to Figure Out How Much Money I Can Actually Make Franchising My Business? The bottom line is that…
Things to Do Before Franchising Your Idea
January 10, 2020 by
You are super excited because you have a great idea for a business. You believe that your idea is revolutionary and may even be a paradigm shift. You have researched your idea and realize it is something no one else has ever thought of doing. Maybe your idea came to you while you were driving,…
What Franchising Can Do for My Business
November 13, 2019 by
Do you have a business and thinking about wanting to grow it? Perhaps franchising is something that has crossed your mind. There are both obvious and not-so obvious things that franchising can do for your business if you choose to go down that path. In general, when people think of franchising, the types of franchise…
What are You Franchising
October 31, 2019 by
You really want to franchise your business. As you are thinking about how you can make things easy for duplication, you figure the best thing to do is make what you want to franchise so simple that all someone has to do is either just sell or perform a service. You figure that if you…
The Glory of Franchising
August 29, 2019 by
Imagine for a moment that you have franchised your business. You have gone through our entire franchise development process and just got the news from Dave (our President) that you are approved to start offering franchises nationwide. You can’t believe how quick and smooth it was to get to this point. However we are here…
Beware When Seeking an Attorney to Help Franchise
August 15, 2019 by
When seeking help to franchise your business, attorneys are definitely part of the process yet unfortunately sometimes misplacing trust in the wrong attorney may lead you down a wrong path. Why you ask? Oftentimes there is an automatic assumption that the attorney who you find and hire to help franchise your business is well-versed in…
Say No to Long Term Commitments When Franchising Your Business
July 26, 2019 by
It can get confusing when seeking out a company to help you franchise your business. You are bound to come across some companies that claim to want to be in the relationship with you for the long-haul. In other words, these companies are asking for long term commitments when franchising your business with them. Wait…
Who Can Help Me Franchise
July 10, 2019 by
You want to grow your business and you have decided that franchising is your path. Perhaps when you started your business you did it with the idea of franchising all along. Now you are stuck and wondering, “Who can help me franchise?” You are aware that there are many different pieces required to franchise but…
Want to Know the Secrets to Restaurant Franchising
June 28, 2019 by
As a restaurant owner you have found yourself in a position where you have great traction, great sales and perhaps you have even won some awards for your food. Your restaurant may have been recognized and it is very satisfying to know that what you have created has produced a positive effect on people. When…
Expanding Your Business, What are Your Options?
June 6, 2019 by
You are thinking about expanding your business but don’t want to do it all on your own. You begin to realize that when it comes to expansion you have several options for growth outside of opening more locations yourself. It really depends on your goals and what you want out of your relationship with your…
Horror Story Licensing Gone Wrong
May 31, 2019 by
Ahh, “Do it yourself-ers”, you’ve got to love them. Entrepreneurial spirit is great when running a business and forging new paths or discovering new ways of how to do things. However it is not always so great when it comes to trying to skirt regulations or short circuit requirements for financial gain. Below we are…
Does Being Solicited by Retailers Mean You Should Franchise?
May 21, 2019 by
One day you get called by a retailer or someone from a property management company who says they want to put your concept in their space. This type of call does well for your ego, gives you validation along with a sense of demand for your business. Then you realize, wait a minute I am…
Do My Franchise Businesses Have to be Exactly Like My Current Business
April 23, 2019 by
There are many benefits when franchising your business besides the ability to grow quicker than you could on your own and bringing together a culture of like-minded individuals all running the same type of business and working toward the same goals. Franchising provides operational consistency between each new business (more on benefits when franchising your…
Do I Need to Change My Name to Franchise
March 15, 2019 by
Call it a thought, premonition or a dream but at some point you may have been thinking about franchising your business. While there are many things that could potentially hold you back one preconceived notion may be, “do I need to change my name to franchise”. You may have lots of reasons why you think…
Is Someone Cold Calling You to Franchise?
March 5, 2019 by
Doesn’t the saying go, “don’t trust anyone who cold calls you”? Let’s say you have been operating your business for some time and have experienced some level of success. One day you get a cold call or an unsolicited email from someone positioning themselves as an “opportunity agent” saying how great your business is, how…
What Does It Really Mean to Franchise My Restaurant?
March 1, 2019 by
If you are the type of restaurant owner who likes to create menu items then you might be able to relate to this piece. When creating a new menu item, it all starts with a vision; then you plan it out and carefully pick your ingredients. You then prepare the item and along the way…
Franchise Me Before Someone Else Beats Me to It
February 28, 2019 by
Are you in a rush to get your business franchised? Franchising has always been on your mind. Maybe it is something that you thought was a pipe dream, however now your circumstances have changed and you feel that you just need to get it done. Perhaps the reason for the sense of urgency is someone…
How to Structure a Franchise
January 31, 2019 by
If you are like most business owners the idea of expanding your business is one of your dreams. Perhaps you have decided your path for expansion is franchising and you wonder how to structure a franchise for your business. You have researched on the internet and realize there are a lot of moving pieces and…
Franchise Document Templates Are Bad
January 11, 2019 by
You have decided to franchise your business and like most business owners you want to get it done quickly, easily and for as little money as possible. You start researching how to franchise your business online and stumble across franchise document templates for sale. Franchise document templates are generic, one-size-fits-all boilerplate documents that you can…
How Can I Franchise a Product
December 27, 2018 by
It may be quite often that you run across someone who says to you they have invented a really neat product (for example maybe this person invented a new hybrid-type of coffee bean infused with tequila) and it comes out in conversation that they want to franchise it. But is a product (in this example…
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 and how to franchise it. Conceptually duplication sounds easy, but in reality it may not be as easy as it seems. The easiest path…
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,…
