Tag Archives: franchises

Top 10 Franchises for Under $10,000 | Small Business Trends

Opening a franchise business doesn’t always require hefty sums of money. There are franchises out there that can be invested in for a much more affordable price tag. Sounds attractive? Take a look at the following 10 franchises for under $10,000.

Top Franchises Under 10k

Building Stars

The Buildings Stars franchise business model provides all you’ll need to build your own successful commercial cleaning company. Building Stars provides a comprehensive training program and ongoing support to help franchisees create a successful and sustainable commercial cleaning business quickly. A Building Stars franchise requires a low-cost minimum cash investment of $2,245.

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5 Franchise Problems To Avoid | The Startup Magazine

The US Small Business Administration notes that fast-food franchises make up the most popular business type for new entrepreneurs. Franchises are an easy way to trade on the popularity of an established name. From medspa franchise opportunities to retail businesses, there’s no shortage of supply. However, getting into a franchise relies on understanding what the company expects back from you. There are significant hurdles for new entrepreneurs when negotiating contracts and establishing rules between them and the franchisor. Here, we examine a handful of franchise problems that entrepreneurs should try their best to avoid.

A Terrible Sales Process

Many new franchisees are eager to get people in the door, regardless of how successful those people are likely to be. When you’re selling a franchise, whether it’s fast food or retail, the operator needs to understand how to make it work. While established franchises have massive training programs, these smaller, newer franchises don’t. They’re a lot cheaper to buy into as a result, and the low cost attracts a short of new entrepreneurs. The downside is that these new business owners end up biting off more than they can chew. Restaurant Business Online underlines this problem in their case study of Quiznos’ collapse.

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What is a Franchise Fee and How Much Will I Owe? | Small Business Trends

A franchise fee is what a prospective franchisee owes to the franchisor for the rights to use the franchise brand and franchise system. Typically the franchise fee refers to a one-time payment paid in the beginning of the relationship. But there are also ongoing franchise fees.

When you buy into a franchise opportunity, you gain valuable rights by contract. But you also have legal responsibilities. You must run the business according to the operations manual and the franchise agreement. You must also pay all required fees to the franchisor.  Therefore, it’s very important to understand all fees.

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How Local Franchises Can Differentiate (While Conforming to Standards) | Small Business Trends

It doesn’t matter if you run a fast-food restaurant or a hardware store. A franchise owner gets the opportunity to experience entrepreneurship. But this happens without the higher risk levels generally experienced in traditional startups.

However, running a franchise gives several advantages. For example, you get less room for innovation than in a startup. The brand has an image that it needs to maintain, and that means that you won’t have the ability to make decisions regarding things like the product lineup, signage, décor or uniforms.

But it’s still possible to differentiate your location without jeopardizing your commitments to the franchisor brand. By improving your management skills and fine-tuning your approach to your local market, you can cultivate the sense that your business has something special to offer, while still delivering the standardized experiences that attract people to do business with franchises.

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Franchisees talk do-over: What they wish they knew before opening their franchise | Fast Casual

Amal Agha knew about business and finance when she opened her first franchise, a Rita’s Water Ice in New Jersey. What she and her partner/husband didn’t know was how much of being a franchisee involves managing people, and hiring and retaining employees proved to be the biggest challenge.

“We wish we had had more training on staffing up and being prepared on what employees will put you through,” Agha shared during a panel session, “What I wish I knew before buying a franchise,” at the International Franchise Expo held last week at the Jacob K. Javits Conference Center in New York City.

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The Top Trends in Franchising Business Today | Getentrepreneurial.com

When broken down, franchising simply represents methods of distributing products and services. For some time now, entrepreneurship has been the career path for many victims of downsizing and corporate layoffs. Despite the uncertain job market and the unstable economy improving considerably in recent years, business ownership remains a standard means of employment.

Franchising has become a major priority for people who seek the freedom of owning a business without undergoing the struggle of creating a concept from the ground. For that reason, franchising will continue to be a relevant part of the economy. Studies show that when done right, it can be a powerful business model for quick growth. Franchisees win through economies of scale, a defined system, mentorship, and support. As more entrepreneurs look at franchising as a viable path to success, it is vital to understand the emerging trends and how one can take advantage of them.

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Thinking About Buying a Franchise? Know the Limits! | All Business

Starting your own business is both an exciting and terrifying prospect. Many people choose to take a more financially secure path by purchasing a franchise. Purchasing a franchise buys instant brand awareness and a ready-made system of operations that offers real benefits to first time business owners.

But like any business decision, it is important to think about potential problems when you consider buying a franchise. Here are some of the limits of franchising that any potential business owner should consider:

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To Franchise or Not to Franchise | Lydia Mehit

So, you want to start a business and you’ve decided a franchise is for you.  There are a number of advantages to selecting a franchise.  Here are several of them.

  • It is a proven business model.
  • You have a pre-defined target market.
  • You have brand recognition because the product or service is already known.
  • The business methods and systems are already in place, all you have to do is follow them.
  • Training is provided for you and your management team.
  • Operations manual that details all of the job descriptions, processes, procedures, rules and requirements for operating the business is provided.
  • You receive on-the-job training at a working franchise.
  • The franchise team helps you open the business and gets you started on the right foot.

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NLRB Federal Ruling on McDonald’s Just Turned Franchising Upside Down | Inc.com

mcdonalds_39120In a move that could ultimately have a huge impact on all franchising, the general counsel of the National Labor Relations Board has said that McDonald’s is the joint employer of workers at its franchise locations. If ultimately upheld, that could put McDonald’s at the epicenter of class action suits over fast food worker wages and working conditions.

Traditionally, franchise owners themselves were considered sole employers of their workers. Because they operated as separate legal entities, franchisors were isolated from any labor disputes. By declaring that McDonald’s is a joint employer, the NLRB has shaken that structure.

“Corporations that exercise sufficient control over their franchisees cannot claim ignorance,” said Catherine Ruckelshaus, general counsel and program director for the National Employment Law Project, in a Tuesday conference call held by the organizations supporting the lawsuits. “This accountability means ensuring that the franchises comply with the basics of the law.”

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Franchise 500 | Top 10 Franchises | Entrepreneur.com

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