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Sebastien Page - EzineArticles.com Expert Author
Sebastien Page is Director of Marketing for WorldFranchising.com, the most comprehensive information resource for potential franchise buyers. The company also publishes franchise best sellers such as Bond's Franchise Guide, and Top 100 Franchises Guide. Before joining WorldFranchising.com, Page was Marketing Manager for Franchise.com where he successfully led the Marketing Department. Sebastien Page is very active in the franchise community and he often writes about franchising, sales and marketing.
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- How to Be a Successful Franchisee
[Business:Franchising] Franchises are considerably less likely to fail than independent businesses because they benefit from name recognition and a proven business model. But if you are thinking about buying a franchise, remember that it is not foolproof. There are things you will have to do to be a successful franchisee.
- 5 Ways to Motivate Your Franchise Employees
[Business:Franchising] Motivating your employees will be vital to your success. If the people who work for you want to be there, they will work harder and make your franchise even better. Here are some ways to motivate your franchise employees.
- Keeping Your Franchise Organized
[Business:Franchising] Once you have taken the leap and bought a franchise, you may be wondering how you can make that franchise as successful as possible. This will require a lot of hard work on your part. One of the most important things that you can do as a franchisee is be meticulously organized.
- Is This Franchise Profitable?
[Business:Franchising] However, if you are thinking seriously about buying a franchise, you need to know what kind of profitability you can expect from it in the future, even if it is not going to be profitable in the short-term. Here are some factors you can estimate to try to figure out whether or not a franchise opportunity will be profitable.
- Reselling Your Franchise
[Business:Franchising] If you are thinking about re-selling your franchise to a new franchisee, for whatever reason, how is that done? You might be wondering how it differs from selling an independent business, because you don't technically own the franchise, you only own its assets.
- Selecting Your Franchise Site Location
[Business:Franchising] One of the absolute most important factors in successful franchising is location. A great business in a poor location may be unable to turn a profit, and your franchise could become a losing endeavor. How do you analyze your location to see if it will bring you success?
- Your Part-Time Franchise
[Business:Franchising] Franchising takes a lot of the risk out of starting your own business, part-time or otherwise. But can you do it part-time? Of course you can.
- Franchise Agreement Key Provisions
[Business:Franchising] When it comes to the Franchise Agreement - the legal document that technically governs franchisor/franchisee relations - there is no standard format. Terms and conditions of operations vary from franchise to franchise and from industry to industry.
- Why Franchises Fail
[Business:Franchising] According to the U.S. Department of Consumer Affairs, about five percent of franchisees fail. Any number of factors could be responsible for this failure; however, such failure can nearly always be prevented by doing your due diligence at the outset.
- Franchise Marketing Plan
[Business:Franchising] In order to go anywhere as a franchisee, the franchisor needs to have a sturdy and effective marketing plan in place. Here are some guidelines when it comes to researching a franchisor's marketing plan.
- Hiring a Franchise Lawyer
[Business:Franchising] Many assume that, because a franchise agreement is by nature a contract, any attorney is competent to review it. However, this is not necessarily the case. Franchise agreements are unique contracts, and only franchise lawyers are qualified to handle them.
- Franchisor-Franchisee Relationship
[Business:Franchising] Because entering into a franchise is investing in a very real, very serious relationship, you want to make sure that you're on the road to establishing a healthy franchisor/franchisee relationship. In an ideal franchisor/franchisee relationship, each party holds up its end of the bargain via active communication, mutual respect and common goals. As in a marriage, contracts are a necessary evil: if you have to refer back to the contract, you know your relationship has gone awry.
- Franchise Payments Franchisees Can Expect to Pay
[Business:Franchising] Unsurprisingly, there are multiple payments related to owning a franchise. As dictated by the Federal Trade Commission (FTC), franchisors must list those fees in their Franchise Agreements.
- Taking Over an Existing Franchise
[Business:Franchising] Do you want to become part of a well-known franchise family but hesitate because of the legwork involved in launching the new franchise location? You should consider taking over a franchise that's already in existence. Take a look at the pluses involved in the transaction...
- Successful Franchisee Traits
[Business:Franchising] Do you have the personal traits necessary for success in the franchising industry? You might want to make sure you can say "yes" to these questions before you invest.
- Key Steps to Buying a Retail Franchise
[Business:Franchising] Considering that sales from franchises account for billions of dollars in revenue every year, buying a franchise is statistically the safest way to own a business - provided you choose the right franchise. Below are listed seven key steps that will help you choose the best retail franchise for you.
- What You Should Ask Before Buying a Franchise
[Business:Franchising] Buying a franchise means putting big dollars on the line, and, for better or for worse, your success doesn't entirely depend on you - the quality of the company behind your franchise also matters. It is therefore important to learn as much as you can about the parent company before you make an investment. Consider asking the following ten questions...
- The Small Business Franchise Act
[Business:Franchising] Originally introduced in 1998 and passed in 1999, the Small Business Franchise Act (SBFA) is has put into place certain safeguards designed to eliminate fraud and other activities that might exploit franchisee investors. Common opinion holds that the SBFA was introduced in order to give franchisees additional bargaining power against franchisors.
- Warning Signs When Buying A Franchise
[Business:Franchising] Because investing in a franchise is a life-changing event, every prospective franchisee should thoroughly investigate a franchise opportunity before signing any sort of franchise agreement. While there are multiple websites and books floating around that outline the steps that ought to be taken in the interests of due diligence, you should take a minute to review the "red flags" we've outlined below: 1) Is the franchise salesperson putting on the pressure? One of the traits of a good franchisor is that it wants to make sure there is a mutually good fit before "closing...
- How Do You Survive Franchisor Bankruptcy?
[Business:Franchising] It takes immense discipline and fortitude to survive a franchisor's bankruptcy. It's a good idea to have a plan to minimize any potential losses in revenue and reputation, just in case such an unfortunate circumstance arises. When armed with a plan, you're more likely to avoid disaster and consequently keep your business afloat.
- Finding A Franchise
[Business:Franchising] There are a number of ways you can find and purchase franchises. Keep in mind that due diligence is necessary, and anything that sounds too good to be true probably is.
- Franchise Financial Performance
[Business:Franchising] Your status as either a potential purchaser or merely a curious member of the public partially determines the amount and quality of information you'll be able to discover about the financial performance of a specific franchise. Potential purchasers are able to find out about a franchise's financial performance via the Federal Trade Commission's (FTC) Franchise and Business Opportunity Rule. Under the Franchise and Business Opportunity Rule, franchisors are required to make a series of detailed disclosures to potential purchasers, either in the Uniform Franchise Offering Circular (UFOC) form or in the form provided by the rule.
- Government Regulation Of Franchises
[Business:Franchising] In the United States, all franchisors must abide by the Federal Trade Commission's (FTC) Franchise Rule, which requires franchisors to prepare a disclosure document called the Uniform Franchise Offering Circular (UFOC ) / Franchise Disclosure Document (FDD) and give a copy of that document to prospective franchisees prior to their purchase of a franchise. The UFOC / FDD document consists of 23 different categories, which contain information such as basic investment, franchise fees, a financial statement of the franchisor and earnings claims (if the company discloses that information), how long the franchise will be in effect, bankruptcy...
- About Franchise Lawsuits
[Business:Franchising] Always look into a company's background before you decide to invest in a franchise. After all, the last thing you want to do is throw your money into a concept that carries a history of trouble.
- Key Steps To Buying A Fast Food Franchise
[Business:Franchising] There's no doubt that investing in a fast food franchise could be a lucrative decision - fast food franchising is, after all, a $125 billion dollar a year industry. However, buying a fast food franchise requires a lot of hard work.
- Most Common Franchising Mistakes
[Business:Franchising] Franchising can be a wonderful, fulfilling experience - but it can also be a depressing, disenchanting experience. Unfortunately, there are a number of franchisees that, much to their discouragement, are faced with the harsh realities of franchising. Why? Take a look at the following mistakes many entrepreneurs attempting to become franchisees make.
- How Much Can You Make In Franchising?
[Business:Franchising] Franchisers often don't give straight answers to franchisees asking the question "How Much Can You Make in Franchising?" due to the numerous legalities involved. Franchisers can get into a lot of legal trouble if they misrepresent themselves in their UFOCs/FDDs.
- How Can You Get Out Of A Franchise?
[Business:Franchising] The law tends to favor the franchiser over the franchisee when it comes to breaking a franchise contract, primarily because franchisers are able to limit their liability via UFOCs and franchise agreements with built-in clauses and disclosures. It's no wonder that franchisees have little wiggle room when opting out of an agreement: franchisers are required to list and substantiate earnings claims, current and past litigation, the number of franchises in operation and the number terminated, and all other related material in the UFOC/FDD document.
- Aid That Franchisors Provide To Franchisees
[Business:Franchising] Franchisors usually provide aid to their franchisees. This article goes over how franchisors can help their franchisees.
- What's Safer - Buying a Franchise or Starting Your Own Business?
[Business:Franchising] Have you always wanted to own and operate your own business? Given that there's a high failure rate for independent, non-franchise businesses, you might want to consider buying a franchise instead.
- Selling Your Franchise - What Are Your Rights?
[Business:Franchising] Would you like to sell your franchise? Easy enough in theory, but not necessarily so easy in practice - the terms and conditions for selling your franchise are outlined in the Franchise Agreement, and Franchise Agreements are as a rule drafted with the interests of the franchisor in mind. Hence, you may very well find buy-back and right of first refusal clauses in the Franchise Agreement, which limit your rights regarding selling your franchise business.
- Negotiating the Terms of Your Franchise Agreement
[Business:Franchising] It is of course up to the franchisor to decide whether one not its franchisees can negotiate the terms of a franchise agreement. Unsurprisingly, the majority of large, established franchisors will not allow franchisees to make changes to the franchise contract, since they tend to have a history of successful, content franchisees and are aware that, given the size and success of their concept, there are always potential franchisees willing to buy into their system as is.
- The FTC on Earnings Claims Statements
[Business:Franchising] Are you considering buying a franchise? One of the first steps you ought to take is to determine whether that franchise is doing well or poorly financially, which involves determining what the franchise's actual quarterly and/or annual earnings are. The FTC gives franchises an opportunity to disclose franchisee earnings information via the Item 19 section of the UFOC (Uniform Franchise Offering Circular) document (soon to be termed "FDD: Franchise Disclosure Document").
- The Key to Franchise Success? Target a Narrow Customer Base
[Business:Franchising] If you're thinking that purchasing a franchise concept that appeals to as many people as possible equals success, think again: targeting a narrower customer base may be a better way to go. As a new franchisee, you want to distinguish yourself - I mean, let's face it: you'll have lots of competition to deal with, and you want to secure all the advantages you can.
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