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Introduction to Inventory
New franchisees quickly discover that one of their major expenses is inventory. The word, inventory refers to all materials and goods used by a business for daily operations.
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Operation Manuals
Everything of importance about a franchise is listed in these documents and works as a guideline to ensure consistency and communication from one franchisee to another.
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Franchise Business Fees: What Exactly Are You Paying For?
You may be wondering why Canadian franchise business fees can be so expensive & what exactly are you paying for. We break down the If you're interested in purchasing a franchise, you're probably already aware of the type of investment you'll need to make. You may be wondering, however, why franc
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Broker – Friend or Foe?
One woman called me after recently purchasing a franchise and explained that her franchisor had offered to do her site selection and real estate work for an extra $3,500.00.
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Understanding the Cost of Buying a Franchise
One of the most commonly asked questions by someone who is acquiring a franchise is: how much will it cost? The answer to this question depends to a great extent on whether you are acquiring an existing franchise or the right to operate a new franchise.
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Loving The Brand You Buy
A good starting place is to ask yourself: What franchise brands are you currently a customer of? Of these businesses, which ones do you continue to buy from and why?
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Who Will You Be Working For?
Franchise owners don’t work for themselves…they work for their customers. It doesn’t matter what you’re selling…be it food, equipment or a consulting service; the best products aren’t sold….they’re bought.
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Financing a Franchise in Canada
When you begin looking into the purchasing of a franchise, you’ll be making a commitment, both in time and capital. However, hard working entrepreneurs need not be limited by their personal wealth.
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Top Canadian Franchises in 2011
Despite the economic downturn of the last couple years, franchising in Canada has remained a dominating force. If you’ve ever thought of getting into business for yourself, franchising remains the safest way to do so. A great place to start your search is with Canada’s top performing franchises for 2011.
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Franchising and the Canadian Economy
According to the Canadian Franchise Association (CFA) in April 2011, there are 78,000 franchises in Canada, and the number is still growing across all market sectors. The Canadian economy has remained strong throughout
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Starting a New Business
Starting a new business that is a franchise has all the steps and concerns that any new business has, plus some that are particular to franchises. Once the decision has been made to seek a franchise
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FRANCHISE FUNDAMENTALS
Your path to franchising must begin with research to determine which franchise is really right for you. Your search will start wider, of the franchise marketplace generally, and then narrow down to a particular industry.
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ACQUIRING A FRANCHISE
To determine whether purchasing a franchise is right for you, you should consider your own personal experience and the time you are willing to invest.
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Are You Thinking About a Franchise?
How often have you thumbed through a franchise magazine or online directory and noticed a franchise opportunity advertisement, and felt you'd really like to get in on that...if only you had the money?
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A Look At The Franchise Business Model
The term "Franchising" refers to a business model that's been around since the mid-1800's when the manufacturers of the Singer sewing machine first dreamed it up as a way to expand the distribution of their products.
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Understanding Franchise Agreements
The franchise agreement outlines the way your business will work within your franchise system. It gives both you, the franchisee, and your franchisor a clear understanding of the terms of your business relationship
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Home Based Business Opportunities FAQ's
There are lots of reasons that people grow weary of their job. Burnout is a common thing in the workplace due to stressful work environments, office politics, the daily commute, and the grind of worry about what other people think is important.
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Franchises - So many to choose
Going into the franchise business might be a very good idea for you as it is one of the popular methods of doing business today but when you do a search of the available franchise opportunities
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Check the Pedigree!
Today, more and more people are choosing to become self-employed or, alternatively, buy a franchised business. It’s a major shift in your life.
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What does it take to be successful in business?
The entire purpose of business is to attract and keep customers. It should become the focus of everything you do. Look at mission statements of most successful organizations, and there is a focus on the customer. Successful organizations create a customer-focused culture.
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How Can You Find a Good Franchise Business?
In many ways, it’s easier to select a family pet than it is a franchise business. With a pet, if it’s a thoroughbred, you can check its papers for lineage, bloodlines, etc. The breed will be known for its personality and mannerisms.
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Tips on Buying a Franchise in Canada
A franchise is essentially a licence to operate the franchisor’s business system and trademark according to the franchisor’s standards for between five and twenty years, depending on the franchise agreement.
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Understand Financial Statements
There is a perception that financial statements are complex and can only be interpreted by professional accountants. On the contrary, once you become familiar with the terminology used, you will have an appreciation for the valuable information they contain.
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Sources of Financing
The source of financing depends in part on the size of the business being purchased. The majority of smaller and medium sized businesses are purchased with a significant portion of the purchase price financed by the owner.
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How Much Money Can I Make
Without a doubt, this is one of the questions most asked by individuals looking at buying a business – franchise or otherwise. The other, of course, is "How much will it cost? – What must I invest?"
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Choosing the Right Lease Term (Length)
This is one of those subjects that cause a lot of lightbulbs to go on in the minds of tenants attending my seminars. Perhaps it’s because a five or ten-year lease Term has become such a norm in commercial real estate leasing.
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Questions that Need to be Asked
When one is looking at a franchise it is important that one do the research so that they know what they are getting into. A little homework at the beginning will avoid surprises down the road...
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Do you make the Leap?
We in the franchising field are of a special ilk. We are in operating business like restaurants, dry cleaners, and video stores but operate inside a specialty designed business model called “franchising”.
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Creative Developments in Franchising:
The term “Franchising” as generally understood, describes a very specific and defined business model. Over the past few years this standard definition has been modified and re-defined sometimes, beyond recognition.
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Can I be of Service???
This issue is dedicated to franchises in the service industry. It’s a timely issue as this segment of the franchise industry has seen the greatest growth over the past few years.
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