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3 Reasons to Choose a Franchise as Your First Business Venture
If you’re ready to take the leap and become a business owner, consider franchise ownership as a viable business venture. While startups may sound appealing, they simply don’t compare to the success rate of franchising. In addition, franchisors offer marketing services and ongoing support within an established business model. Due to this, franchise businesses have a 90% higher success rate…
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4 Questions to Ask Your New Franchisor
If you’ve decided to begin your entrepreneurial journey by becoming a franchisee, your head is likely swimming with questions about your potential business and what it will entail. Franchises offer some advantages over starting a new business, and one of those is having a franchisor. Unlike an unproven business, franchises come with established and proven business models as well as…
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Franchise Financing 101: How to Fund Your Business
Dreaming of your own business? Finding the proper franchise is often the fun part — imagining yourself at the helm of different endeavors and enjoying the excitement of leaping into a new industry. But the financing and logistics of bringing your vision to life can be tedious. You must account for every detail possible. If you’re struggling to discern which…
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What Is a Franchise?
If you’re interested in becoming your own boss, you may have wondered whether it would be best to develop a startup or invest in an existing franchise. But what is a franchise, exactly? Essentially, a franchise is when a company (franchisor) grants an individual (franchisee) the right to operate a branch of their business. This permission is granted in a…
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What Risks Come with Owning a Franchise?
Often, when potential investors are considering which franchise opportunity is best for them, they only think about the unlimited earning potential that comes with owning a franchise. However, there is no reward without risk. Franchisees must weigh the potential challenges they may face and be prepared to meet them head-on. One way to prepare is by meeting with a knowledgeable…
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“Am I Too Young to Be a Franchise Owner?”
Given that the median age of all franchise owners is between the ages of 45 and 54, many younger people are left wondering, “Am I too young to be a franchise owner?” But contrary to popular belief, becoming a franchise owner at a young age has distinct benefits. Most millennials don’t have experience running a business or a robust network…
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3 Things You Need to Do in Your First Year as a Franchise Owner
You’ve finally signed the paperwork, and you’re officially a franchise owner. Or perhaps, you’re still in the process of discussing franchise opportunities with a franchise consultant. Either way, you should know that your first year in business as a franchise owner won’t be easy. Franchisors might try to tell you that it’s smooth sailing in the beginning, but the first…
