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3 Tips for Franchise Marketing
When most people become franchise owners, one of the prime benefits they anticipate is conducting business under an established brand name. While this is certainly true, you will still need to develop a thorough and brand-consistent marketing strategy for your franchise. Although you don’t need to be a marketing expert, you will need to understand the marketing basics as a…
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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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Should You Start a New Business or Choose a Franchise for Sale?
Anyone considering becoming a business owner must ask themselves whether it’s in their best interest to start a new company or find a franchise for sale. While investing in an established franchise sounds like the perfect option, it does not guarantee success. You may also consider starting your own business as an alternative, but they are even more likely to…
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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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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…
