Understanding Franchise Fees and Royalty Fees

One of the most common questions asked by business owners (like you) who are interested in franchising is “What is the difference between a franchise fee and franchise royalty fees?”. These two terms can be confusing so let’s explore the franchise fee first. The franchise fee is a one-time fee that is paid directly to…

Franchising: Are You Committed?

Franchising your business sounds very exciting, but are you committed to making it work? Yes, franchising is simply a method of distribution to launch your business model into other markets. Yes, franchising is an accelerated path to brand you business without you having to invest in opening up satellite locations because instead, you have entrepreneurs…

You May Not Be Ready To Franchise Your Business

Before you get all excited about franchising, I strongly recommend that you ask yourself a few questions about your business. These questions may seem simple and may even have an element of common sense to them, but you will be surprised how often they are overlooked when the excitement of franchising nationwide kicks into high…

Franchising: A Down Economy Helps

Yep, you read the title correctly. Some of you may ask: “What is he saying, franchising while the economy is experiencing a downturn is good news for the franchise industry?” Actually, that is exactly what I am saying. During the last economic downturn, the growth in franchise systems was strong. The reason is because franchising…

Franchising: When You Over Promise and Under Deliver

When it comes to franchising the last thing you ever want to be faced with is the claim by a franchisee that you “Over promised and under delivered.” The minute a franchisor hears this he/she might as well just take a dagger and insert it into his/her chest.. slowly. If this comment does not bother…

You Want to Start Franchising, Can You Sell Them

All along you have thought about franchising your business. You have thought, how neat it would be to “brand my business” and offer franchises “nationwide”. Perhaps you have had interest by a customer (or two) asking if they can own one of your business models. On top of all that, your local business is growing…