Tips from The Franchise Maker: How To Spot A HOT Business That COULD Be The Next Big Franchise!
The chances are pretty high that many of you reading this run across some “hidden gems” out there that could be a great candidate for franchising (more on how to know if a business makes sense to franchise). Maybe those business owners just don’t know it yet! Sounds crazy? Not really. For some of…
Franchise Myth: A Business Needs to Show Financials to Franchise
The topic of financials is an area of misconception that surrounds franchising and continues to confuse people. In fact, there is a franchise myth out there that you need three years of financials in order to franchise. Let’s cover some background information and understand what financials you need when franchising a business. To start, remember…
Identifying The Perfect Franchisee
Let’s say you have finished the franchising process, are now offering franchises and are looking for the perfect franchisees for your system. This is a very exciting time and as a new franchisor your focus is now on talking with applicants and bringing on qualified individuals as franchisees. When you start looking to find the…
What is the True Definition of a Franchise? What You Need to Know
At some point, every business owner says “I would like to franchise my business” and begins to entertain the idea of franchising. The simple truth is that any business and any idea can be franchised. Legally, all that is required of a business in order to franchise is the completion and filing of the proper…
