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How to Market Your Franchise
Picture this: you’re the owner of a great franchise. You have a great business model and offer a fantastic product, but you’re wondering how to market your franchise. This is a common struggle for many franchise owners, who want to reach a greater audience, but aren’t sure just how. Marketing your franchise has many benefits, with the most favored being…
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6 Reasons Why Franchises Fail
Business ownership can be a challenging venture for entrepreneurs, especially franchise owners. Unfortunately, despite having the dream to run a healthy and successful business, some franchises fail. There are many reasons why this happens, a few of which we’ll discuss below. However, there’s still a light at the end of the tunnel! Detailed in our reasons, we also share ways…
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Why You Should Invest in a Healthcare Franchise
Healthcare franchises are a lucrative part of the franchising industry. No matter what the economy’s state is, there will always be a need for a healthcare franchise. According to industry experts, the preventative healthcare market has grown 25 percent in the past five years, and it doesn’t show any sign of stopping. Also with the current state of the world,…
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5 Mistakes New Franchisees Make
Becoming a franchisee can be a dream come true. It’s an opportunity for you to become a business owner. Plus, you’re joining a supporting business family while helping the expansion of a beloved brand. What’s not to love? That said, as a business owner, there are many mistakes and missteps you can make along the way, but never fear; we’re…
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5 Questions to Ask Yourself Before Franchising Your Business
There are many benefits to franchising your business. It’s an incredibly lucrative industry and one that keeps our economy thriving. In 2017 alone, franchises provided nearly 7.6 million jobs and produced $674 billion in economic output for the U.S. So, it’s understandable why you want to make your dream of franchising your business a reality. However, before you start the…
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5 Principles of Franchising That Never Change
Since the beginning of franchising, there have been principles that ensure that a franchise system grows and prospers. These principles of franchising have never changed. They represent a foundation in which every successful franchise is built. It’s also believed that those who understand and adopt these principles of franchising will undoubtedly find success. Below, I’ll share a few of these…
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Top 4 Franchise Trends for the Rest of 2020
The franchise industry saw many changes in 2019, however none like what we’ve seen so far in 2020. The oncoming of COVID-19 has shifted the industry as well as any trends predicted for the new year. Before the pandemic, the franchise industry was slated to increase by 1.5 percent to 785,316 franchise establishments. However, because of countless jobs lost and…