If buying an existing business or starting on your own doesn’t appeal to you, you may be well suited for franchise ownership. What is a franchise and how will you know if you’re right for a franchise? Not everyone is suited to owning a franchise. See our blog about the Top 5 Traits of a …
For Some, COVID Levels The Playing Field
As perverse as it may sound, for many individuals, COVID has been a great equalizer Think of the many people who are held back by a lack of handicapped access to countless stores and offices. Think about the single parents who never have enough time in a day to get things done (that’s me). Then …
Staying Ahead Of The Competition
1-Response Time Always answer the phone when it rings. Some business owners have a policy to not let the phone ring more than once. Customers are calling now because they want service now If they have to leave a message, they may call the next company on their list. Stay on top of things by …
Reset Your Career
Reset Your Career and Life’s Dreams Investing in a Franchise can Reset Your Life Single unit, multi unit or for the empire builder you can choose to be an area developer or master franchisee Investments range from $19K – $2M and financing is available with low interest rates. You can jump in full time to …
Preparing For The Franchisor’s Discovery Day
What is Discovery Day? Definition: A discovery day is an event set up by the franchisor for potential franchisees. This gives the interested buyer of the franchise the chance to meet face to face with key members of the franchisor team. Discovery Day usually takes place at the franchisor’s main headquarters or in some cases, …
Questions For A Franchisee Candidate
The following are some examples of qualifying questions you will be asked by a franchisor: • These are interesting times to start a business. In my opinion, franchising makes the most sense for a number of reasons. May I ask what is motivating your search? • Tell me about your business experience? (Work history, education, …
The Top 5 Characteristics Of A Successful Franchisee
Do you have what it takes to succeed in business Question: I’m thinking about applying for a franchise business but I’m not really sure what it takes to succeed. What are some of the key characteristics and skills I will need to maximize my potential for success? Answer: This is a terrific question and one …
Risk Aversion
Many people seem to believe that being in business as a franchisee is a big risk. Nothing could be further from the truth. If you want to gamble, go to a Casino. Successful franchisees are typically risk averse. Sure, they understand and accept there is some risk, but they want that risk to be as …
Coachability
Coachability is an important key to success in many pursuits from athletes to musicians to business owners The overarching motto of franchising is: “In business for yourself, not by yourself.” We have all heard this mantra many times Most successful franchisees also adopt the philosophy of “when in doubt, ask.” There may be an abundance …
Persistence and Curiousity
Years ago, when I started my 1st job as a Finance and Operations Controller for a small manufacturer in Ontario, I was told not to waste my time looking into in-bound and out-bound logistics across Canada and the US It was made very clear that my predecessor had just negotiated a great new deal So …