By Philip Ciniglio
It is vitally important to seek advice when purchasing a franchised business. Do not try and go it alone. The cost associated with seeking advice will potentially save you money in the long term. Seek advice from experienced franchise advisers. Do not be nervous to ask about their experience in franchising. Read more about Franchising - Great Expectations
By Evan Hackel
Making beautiful music with your franchisees
Imagine a well-run franchise as an orchestra. All of the musicians are attentive, working together and following the conductor’s lead to make a beautiful piece of music. Then, imagine what it would be like to be part of such a franchise, or to be a franchisor conducting the orchestra - the passion, energy, focus, cooperation and profitability. Now think about your franchise. How similar is it to an orchestra? Read more about Engagement : A Key Driver of Franchise Success
By Dale Willerton
The number one reason for franchise failure or the poor performance of a business is due to a poor location. A poor location ultimately results from poor site selection. How else can one explain that identical stores from the same chain or even similar stores within the same industry will vary as much as 200 percent in sales volumes? Of course store size marketing budgets management and so on must be factors to consider; however, these are all secondary to the importance of location. Read more about Site Selection- Key Aspects for Franchisors to Consider
By Jessica Ciniglio
1. Franchises Have A Higher Likelihood of Success Than Other Business Models
Some studies show that franchises have a success rate of approximately 90% as compared to only about 15% for businesses that are started from the ground up. The exact accuracy of these statistics are constantly argued by those in the industry, however, it is only logical that a franchise will be more successful than a ‘ground-up’ business since there is already an established system in place that has worked well in the past and worked well for other franchisees.
Read more about 11 Franchising Tips for 2011
By Joel Goldstein
Statistics can be quite convincing. Companies use them all the time to suit their needs, usually to support the need for their product or service (i.e., “One out of every 10 dentists recommend our toothpaste” or “Over 90 percent of Americans’ diets are dangerously lacking in calcium,” says the calcium supplement company). The problem is that stats have been so overused; people have become desensitized to them.
Read more about Make the Most of your Face to Face Investment: Maximizing ROI at Franchise Expo
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