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Franchisor Versus Franchisee: Roles and Responsibilities

Before you buy a franchise, it’s important to know the responsibilities that come with it. In today’s post, we break down the roles of franchisee and franchisor, outlining the different responsibilities involved with each. Roles and Responsibilities of the Franchisee Once you buy a franchise, you become a franchisee. Though your priorities will be to [...]

By |2017-02-19T04:16:51+00:00February 19th, 2017|Categories: General|Tags: , , |

How to Buy a Franchise: Understanding the Basics

In today’s post, we explain some franchise fundamentals for readers looking to buy a franchise. What is a franchise? Distilled to its essence, a franchise is a business strategy and structure that follows a proven roadmap to success. When you become a franchisee, you don’t “buy” a franchise, but rather license their brand name, operational systems, [...]

By |2017-01-23T09:48:03+00:00January 23rd, 2017|Categories: General|Tags: , , |

Learn to Buy A Franchise: Understanding Franchise Fees

Franchise fees are perhaps one of the most misunderstood aspects of owning a franchise. Some entrepreneurs look at a franchise fee as a superfluous expense - something nobody needs during start-up when money is tight  - but those within the system know better. In today’s post, we explain the reality of franchise fees in hopes [...]

By |2016-11-09T00:58:35+00:00November 9th, 2016|Categories: General|Tags: , , |

Start a Business or Buy a Franchise? FranNet’s 3-Point Analysis

Since you’re reading the FranNet blog, it’s safe to say that you’re considering opening a franchise in your area. Congratulations; you’ve already gotten past one of the biggest roadblocks to being your own boss - getting started!   If you’re still in the research phase, it’s also likely that you’ve reached a crossroads that every franchise [...]

By |2016-10-17T05:54:36+00:00October 17th, 2016|Categories: General|Tags: , , , |

You Found a Franchise to Investigate – Now What?

  You’ve chosen the franchises that you want to investigate – congratulations – the easy part is over… now what? There are three phases to detailed franchise research, “Franchisor Discussions”, “Validation” (speaking with existing franchisees), and “Discovery/Confirmation”. It is important to progress through these phases in chronological order   Phase 1 – Franchisor Discussions: (duration [...]

Funding Options – FranNet works with qualified lenders

As it pertains to visualizing your entrepreneurial path in life, we want you to know that when it comes to funding options, FranNet works with qualified lenders. The world of finance for franchising and small businesses can be quite complex, but in this week’s blog edition, we’re going to do our best to keep things [...]

Should I use a franchise consultant?

Should I use a franchise consultant? If you’re like a lot of people who are trying to figure out which type of franchise to buy, the question “should I use a franchise consultant?” has likely crossed your mind. Obviously I’m biased because I've been a franchise matchmaking consultant for over 12 years and helped hundreds [...]

How Much Money Can I Earn by Starting My Own Business or Franchise?

How Much Money Can I Earn? One of the things aspiring entrepreneurs often ask me is “how much money can I earn?” Unfortunately, this is a very difficult question to answer because the amount of money one earns from a business is a direct byproduct of how well-run the business is – in other words, [...]

10 Important Steps to Opening a Franchise

Step 1) Self Evaluation The first thing you have to do in your journey to opening a franchise is self-evaluation. Unfortunately most people rush past this most critical step – take a serious inventory of the skills and experiences you bring to the table; assess what financial and time resources you are prepared to allocate [...]

Buying a Franchise – Separating the Strong from the Weak!

A key factor to success is to first isolate strong franchise systems from weak ones, and then only focus your search on partnering with a strong franchisor. So let’s look at typical traits of both “strong” and “weak” franchises: Characteristics of Weaker Franchise Systems: either the franchisor has not sufficiently proven their business model, or [...]