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How to Evaluate a Franchise Opportunity
Now that you’ve narrowed down your list of possible franchise investment opportunities, the next step in your elimination process is to evaluate the brands on your list. Researching a franchise and learning the fine details before signing the contract is crucial. Armed with the right knowledge, you can make an educated decision on whether to further invest in a franchise.…
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How Has COVID-19 Changed Franchising in 2020?
It’s safe to say that no business has escaped the economic devastation brought on by the pandemic. Though some were affected worse than others, COVID-19 continues to alter our everyday lives, the consistent threat of cutting costs or closing and reopening looming overhead. Despite its many changes, franchising is a resilient business model, and many have been (thankfully) able…
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5 Ways to Grow Your New Franchise
Growing your business takes time. It’s not uncommon for emerging franchises to go a year, sometimes more before they start to see a profit. Don’t get discouraged though! You have the ongoing support of your franchisor at your disposal. For many, it’s one of the favorite differences between starting their own business and buying a franchise. There are many ways…
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Top Traits Every Successful Franchise Owner Has
Becoming a franchise owner is a lucrative and rewarding business opportunity. Though this path isn’t for everyone, there are common traits found among those who are successful. Do you have any of the characteristics that make for becoming a successful franchise owner? Check our list to find out. Trait #1: They Are Learners There isn’t much room for ego…
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How to Boost Employee Morale During Tough Times
Every business goes through hard times, and it’s an inevitable part of being a business owner. But when those times hit, it can take a toll on your employees and impact their morale. It’s your responsibility to keep your team happy, hopeful, and afloat. They look to you to lift their spirits, ease their minds, and inspire them to keep…
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3 Tips to Choose a Franchise That’s Right For You
So, you want to buy a franchise. Congratulations! Franchising is a popular business opportunity that draws newcomer and veteran business owners alike with its balance of entrepreneurship, brand recognition, and parent company support. Franchises are also vital because they employ nearly 8 million Americans. And in 2018, they were responsible for putting more than $800 billion into the economy. But…
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5 Most Common Mistakes People Make When Buying a Franchise
Franchising is a grand adventure! When you buy a franchise, you take on a wonderful opportunity and amazing adventure, but you also are making one of the biggest commitments of your life and it’s important to be able to navigate this journey, and its decision points, with care and wisdom. Many times, things work out just fine and everyone comes…
