For Beginners

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How To Evaluate An Emerging Franchise

It's important to carefully evaluate a potential franchise opportunity before deciding to become a franchisee. Although successful franchises have spent considerable time building infrastructure, a broad customer base, and a system within which individual franchisees can be successful, there can...Read More

By Stephan Baldwin | Posted January 20, 2016

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17 Things to Know About Franchise Contracts

Before you can take ownership of a franchise, you must sign a franchise contract. Also called franchise agreements, these complex documents govern the terms under which you will be allowed to conduct business and the rules you will need to follow as a franchisee. Franchise contracts are usually...

By | Posted December 10, 2015

How Your Retirement Account Can Finance a Franchise (ROBS)

What is a Rollover For Business Startups (ROBS)? A Rollover for Business Startups (ROBS) is a tax-free and penalty-free way to transfer money from your retirement account into a new business. A 401(k), traditional IRA, 403(b), and many other retirement accounts are eligible (Roth IRAs are not...

Posted September 28, 2015

8 Characteristics of Highly Profitable Franchises

Franchises may be less risky than independent businesses, but there are still varying degrees of success and profitability associated with being a franchisee. Some franchises are far more profitable than others. Here are some characteristics associated with highly profitable franchises: 1) An...

By | Posted August 05, 2015

6 Warning Signs of a Struggling Franchise

There are some definite advantages to buying a franchise with an existing, established unit rather than starting a brand new unit from scratch. Existing units have a customer base in place and have already done much of the work involved in starting up a new unit. Stepping in to take over existing...

By | Posted August 05, 2015

5 Simple Ways to Evaluate a Franchise

Trying to figure out whether a franchise is a good opportunity can be complicated and difficult. It's easy to get bogged down in details like the financials of the parent company, comparisons with other franchises or locations, or the minutiae of many franchise contracts. All of this is important...

By | Posted August 05, 2015

5 Reasons to Get Into Franchising Today

You've been going back and forth for a while now about whether to invest in a franchise. You've weighed the pros and cons, researched opportunities, and gotten all kinds of opinions, from "are you crazy?" to "you'd be crazy not to." As decision time looms, you may be feeling...

By | Posted August 05, 2015

Limit Your Time and Resources to Truly Master Your Universe

For some, punching a clock and working for the ‘man’ for an entire career is not as rewarding as working for yourself and building something of value with legacy potential. The challenge confronted by many business owners is to establish limits on not just their resources, but on their time as...

By | Posted June 24, 2015

What's in a Business Name?

Owning a business is an admirable dream that can not only make money, but also build a legacy to leave behind, or make a mark in the world. But owning a business takes a lot more than just a vision of a great product or service; it takes a lot of hard work, and a little luck. Would-be business...

Posted May 21, 2015

Be Your Own Boss, But Include a Safety Net

Being your own boss is a goal that seems attractive to many people. Some reasons for wanting to be your own boss may include frustration with inept business practices at your workplace, wanting a more flexible schedule, or wanting to increase your income. There are many risks inherent in...

By | Posted May 07, 2015

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