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Write You - Franchises -- Advantages and Disadvantages
Below are some behavioral interview techniques that you'll find useful: 1. Be prepared for the interview by analyzing and making an educated guess as to which skills are most desired by the employer. You can study the job description of the position or go to some job boards to review requirement sections of related jobs. 2. Compile a list of skills that are relevant to the position you are applying. 3. Identify behavioral interview questions by introductory phases like "Tell me about a time when...," " Describe a situation
2. Talk to/visit existing franchise owners.
There should be a list of existing franchise owners in the franchise documents.
You can stop by and visit as a customer, and observe their operations.
You can also call up and ask questions, such as:
- Are you satisfied?
- Did you receive the support promised?
- Were there any surprises?
- Have there been any problems?
- How were the problems resolved?
- Are you making the money you expected?
- Can I visit and observe your operations?
3. What are the f
There are many business opportunities advertised on the internet, newspapers and magazines. Not all of them can really make you any serious money. I have listed below the business opportunities which I consider worthwhile and lucrative.Franchises – I would seriously entertain the idea of buying a franchise opportunity if you are not sure about starting a business on your own. It is a good idea to talk to existing franchisees to see how well they are faring.If most of the franchisees are making money then analyse why some are struggling a
Franchises are a way to get into business quickly, with a brand name, proven methods of operation and a support structure. Franchises are everywhere. Familiar names include Dunkin’ Donuts, Curves, Mail Boxes Etc. and McDonalds, to name a few.
"Buying" a franchise is legally complicated. As a franchisee, you pay money for the right to use the franchisor's Trademarks, systems and methods. Many franchises are legitimate and successful. Unfortunately, there has been a history of problems with franchises. As a result, franchising is heavily regulated at both the state and federal levels.
The legally required franchise documents are intended to provide full disclosure to the prospective purchaser. In reality, the franchise documents are voluminous, full of legalese, extremely one-sided in favor of the franchisor, and packed with restrictions and fees.
Advantages of buying a franchise include:
- Quick startup
- Help with site selection
- Brand name and recognition in the marketplace
- Training and support
- Customized accounting system
- Exclusive territory
- Marketing assistance
- Access to markets and suppliers
Disadvantages of buying a franchise include:
- Up-front fees (substantial initial investment required)
- Ongoing fees (usually royalty payment is a percentage of revenues)
- Fees for marketing and related services
- Restrictions on activities (you can only offer approved franchise products and services)
- Monitoring (the franchisor monitors your books, bank accounts and operations)
- Termination criteria
- Renewal requirements and fees
- Restrictions on transfer
A franchise is a major investment.
It’s important to carefully investigate the opportunity. A common misconception is that franchises are really “turnkey” operations. Purchasers think that they just “buy” the franchise and it runs itself. This is incorrect. It’s important to clearly understand what you are buying, how hard you will have to work and what income is realistic.
Here are some tips to evaluate a franchise opportunity:
1. Check to see if there are lawsuits against the franchisor. Litigation is required to be disclosed in the franchise documents.
This will give you important information about what’s gone wrong for others.
2. Talk to/visit existing franchise owners.
There should be a list of existing franchise owners in the franchise documents.
You can stop by and visit as a customer, and observe their operations.
You can also call up and ask questions, such as:
- Are you satisfied?
- Did you receive the support promised?
- Were there any surprises?
- Have there been any problems?
- How were the problems resolved?
- Are you making the money you expected?
- Can I visit and observe your operations?
3. What are the f
During the past few weeks, and surely for weeks to come, there has been a national focus in the United States on the problems and benefits of illegal immigration. While the many sides debate over amnesty, guest worker programs, routes to citizenship, strengthening the borders, and whether illegal immigrants should be considered felons, the reality of the situation remains unchanged. There are between 10 and 20 million (no one knows for sure) illegal aliens working within the United States. Many have regular full time jobs while others survive as day l
The legally required franchise documents are intended to provide full disclosure to the prospective purchaser. In reality, the franchise documents are voluminous, full of legalese, extremely one-sided in favor of the franchisor, and packed with restrictions and fees.
Advantages of buying a franchise include:
- Quick startup
- Help with site selection
- Brand name and recognition in the marketplace
- Training and support
- Customized accounting system
- Exclusive territory
- Marketing assistance
- Access to markets and suppliers
Disadvantages of buying a franchise include:
- Up-front fees (substantial initial investment required)
- Ongoing fees (usually royalty payment is a percentage of revenues)
- Fees for marketing and related services
- Restrictions on activities (you can only offer approved franchise products and services)
- Monitoring (the franchisor monitors your books, bank accounts and operations)
- Termination criteria
- Renewal requirements and fees
- Restrictions on transfer
A franchise is a major investment.
It’s important to carefully investigate the opportunity. A common misconception is that franchises are really “turnkey” operations. Purchasers think that they just “buy” the franchise and it runs itself. This is incorrect. It’s important to clearly understand what you are buying, how hard you will have to work and what income is realistic.
Here are some tips to evaluate a franchise opportunity:
1. Check to see if there are lawsuits against the franchisor. Litigation is required to be disclosed in the franchise documents.
This will give you important information about what’s gone wrong for others.
2. Talk to/visit existing franchise owners.
There should be a list of existing franchise owners in the franchise documents.
You can stop by and visit as a customer, and observe their operations.
You can also call up and ask questions, such as:
- Are you satisfied?
- Did you receive the support promised?
- Were there any surprises?
- Have there been any problems?
- How were the problems resolved?
- Are you making the money you expected?
- Can I visit and observe your operations?
3. What are the f
“Wouldn’t it be a better place to work if we did not have customers?”“This business would be so much tidier without customers! “I am sure someone has whispered that in your organisation - but, out of ear-shot of management. But, let’s be honest, customers are a pain and they are expensive to attract; let’s eliminate them and make life easier for everyone.You can’t afford to have customers– turn your customers into clientsCompanies use interruption marketing techniques, such as newspaper adverts, TV commercials, billboards e
- Access to markets and suppliers
Disadvantages of buying a franchise include:
- Up-front fees (substantial initial investment required)
- Ongoing fees (usually royalty payment is a percentage of revenues)
- Fees for marketing and related services
- Restrictions on activities (you can only offer approved franchise products and services)
- Monitoring (the franchisor monitors your books, bank accounts and operations)
- Termination criteria
- Renewal requirements and fees
- Restrictions on transfer
A franchise is a major investment.
It’s important to carefully investigate the opportunity. A common misconception is that franchises are really “turnkey” operations. Purchasers think that they just “buy” the franchise and it runs itself. This is incorrect. It’s important to clearly understand what you are buying, how hard you will have to work and what income is realistic.
Here are some tips to evaluate a franchise opportunity:
1. Check to see if there are lawsuits against the franchisor. Litigation is required to be disclosed in the franchise documents.
This will give you important information about what’s gone wrong for others.
2. Talk to/visit existing franchise owners.
There should be a list of existing franchise owners in the franchise documents.
You can stop by and visit as a customer, and observe their operations.
You can also call up and ask questions, such as:
- Are you satisfied?
- Did you receive the support promised?
- Were there any surprises?
- Have there been any problems?
- How were the problems resolved?
- Are you making the money you expected?
- Can I visit and observe your operations?
3. What are the f
Ever wondered why antiques are so expensive and valuable? This is because they are commonly known as the representation of a specific era with its distinguishing style and design. It is not surprising why antiques are important to anxious collectors who of different antiques from across the globe. Among the several antique home equipment available, furnitures are mostly sought. However, a farm equipment can also become a classic and an antique. You might be surprised to know that a used farm equipment such as used tractors can gain value as that of vi
It’s important to carefully investigate the opportunity. A common misconception is that franchises are really “turnkey” operations. Purchasers think that they just “buy” the franchise and it runs itself. This is incorrect. It’s important to clearly understand what you are buying, how hard you will have to work and what income is realistic.
Here are some tips to evaluate a franchise opportunity:
1. Check to see if there are lawsuits against the franchisor. Litigation is required to be disclosed in the franchise documents.
This will give you important information about what’s gone wrong for others.
2. Talk to/visit existing franchise owners.
There should be a list of existing franchise owners in the franchise documents.
You can stop by and visit as a customer, and observe their operations.
You can also call up and ask questions, such as:
- Are you satisfied?
- Did you receive the support promised?
- Were there any surprises?
- Have there been any problems?
- How were the problems resolved?
- Are you making the money you expected?
- Can I visit and observe your operations?
3. What are the f
I got into Allentown, PA the other day at about two in the afternoon. It wasn't too bad of a drive from Vermont where I was from. Oh sure it took a long time, but it was pretty scenic and relaxing for the most part. I was arriving at the Allentown business school with my best friend Joe, just in time to have a good weekend to explore before classes started on Monday. I would have liked to get into Allentown a little bit earlier in the month. It would've been nice to have some time to explore the business MBA school before starting, and to get to
2. Talk to/visit existing franchise owners.
There should be a list of existing franchise owners in the franchise documents.
You can stop by and visit as a customer, and observe their operations.
You can also call up and ask questions, such as:
- Are you satisfied?
- Did you receive the support promised?
- Were there any surprises?
- Have there been any problems?
- How were the problems resolved?
- Are you making the money you expected?
- Can I visit and observe your operations?
3. What are the fees?
Franchise terms vary. It’s important to understand the fees.
Make a list of fees:
- What’s included with the initial franchise fee?
- What’s the royalty? Is it a percent of “gross” or “net” sales?
- Is the royalty a fixed percentage or does it decline over time?
- Are there service fees? Training fees? Marketing fees? Advertising fees?
4. What’s your territory?
Draw a map with clear boundaries:
- What is your defined geographic territory?
- How close can another franchise like yours be located relative to your location?
5. What’s your competitive advantage?
- What sets this franchise apart?
- Does the franchise include key technology or methods?
- Can it be easily copied?
6. What are the restrictions?
- Are you limited as to what you can sell?
- Are you required to buy from specific suppliers?
- What are the reasons for termination?
- What is the scope/term of the non-compete?
- What are the requirements for renewal?
- Can you transfer ownership?
In conclusion, buying a franchise may or may not be a good choice for you. Before signing a franchise agreement, check it out carefully and make sure you understand what the documents say. The advice of a business attorney knowledgeable about franchises can help you understand the legalese and make an informed decision.
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