READ: 5 RECENT posts to check out ON franchising.
The Complete Introduction to Franchising and Franchise Ownership [With Updates] – Joel Libava, The Franchise King
Because if you’re going to invest in a franchise, it’s crucial for you to get a complete understanding of the business of franchising. You need to understand how the franchise business model works. Plus, you need to find out if franchise ownership is right for you.
Is Atlanta the U.S.’s new franchising Mecca? – Kieran McLoone, Deputy Editor Global Franchise
…not only is Atlanta now rife with franchise success stories and motivated entrepreneurs, but the capital city is home to some of the restaurant industry’s biggest brands’ headquarters and is frequently the location of choice for domestic expansion amidst all facets of U.S. franchising.
Issues in Franchising that affect Franchisees – Feldman & Feldman, P.C.
Purchasing a franchise has become one of the more popular business models in the United States – as well as globally – in recent years. According to research from Statista, in 2019 alone, the economic output of franchise establishments within the U.S. totaled roughly 787.5 billion dollars. With this in mind, it’s no wonder franchising is so popular; however, there are many caveats to becoming a franchisee that are often overlooked. Knowing how these drawbacks can affect unsuspecting franchisees can help them be better informed before entering into the franchise landscape.
Business Ownership: Deciding if Franchising is the Best Route for You – Seth Lederman, Forbes Councils Member
An entrepreneurial outlook doesn’t necessarily mean that you like to walk on the wild side; buck the system and be a trailblazer to go where no one has ever gone before. If you are a bit more reserved, want to own a business and maintain control, yet consider having your branding and marketing pre-established, a franchise might be the best course for your business-owning aspirations. You just have to maintain the course, engage with customers and reevaluate as things arise to be a successful franchise owner.
5 Reasons a Franchise Business is Even More Important Today – Jeff Bevis, Contributor to Forbes
Even in hard times, name brands have the upper hand when it comes to attracting customers. Franchise brands are known for consistency and quality, and that results in both national and local confidence in the product or service.
Successful franchisees know that while they have the support of a national brand, owning a business is hard work and demands a determined entrepreneurial spirit. Each franchise brand has different requirements but in general, to run a successful franchise you need strong organizational and communications skills, plus a willingness to learn the business. It’s also important to believe in and value the benefits of following a proven model and to embrace the existing system to guarantee the highest potential for success.
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