Many venture capitalists, business angels and new entrepreneurs will understandably, be looking at the current economic climate with grim dismay but all is not lost - This article first appeared in The Times 21st April 2009
There are very many variations in franchise structures and this article explains some of the basics - This article first appeared in The Sunday Times 19th April 2009
In all the daily doom and gloom about the state of the economy. One could be forgiven for worrying about what will I do if I lose my job or if my company has to shut down through a lack of business. Well here’s the good news the world can be your oyster with a choice of careers and an opportunity to control your own destiny by seriously looking into franchising
Finding the right strategies to get through these difficult times is far from easy. The most common and immediate ones are cutting costs and consolidation.
Of all the issues that arise for both would-be and existing franchisors none come higher up the scale than franchisee recruitment. If you are a potential franchisor you will have much work to do before placing your first advertisements and we shall explain the elements you need to consider.
It is too simplistic to believe that [...]
Thinking about it? David Tonchin, a Director with Franchise Your Business Ltd takes a brief look at just what is involved.
There are very many variations in franchise structures, for example, job franchises, fractional franchises, area developer, regional and master franchises. Even within these types there are variations depending on particular circumstances.
Some levy a management service [...]
Franchise Your Business the well known and widely respected franchise consultancy is pleased to announce the launch of their franchisee recruitment support service which has been developed over the last 12 months.
The recruitment of franchisees is frequently a limiting factor for many franchisors. Experience shows that in many cases recruitment success is governed by time [...]
. . . or why new some Franchisors find it difficult to recruit
There are three main reasons why some Franchisors find it difficult to recruit
The business is not franchiseable
The Franchise isn’t viable
The Franchisor doesn’t spend enough on recruitment
The business is [...]
Theoretically any business that can be replicated can be franchised. But replication doesn’t necessarily result in a successful franchise. So what can you do make sure your franchise will be a success?
Step 1: Establish your business criteria
1 Does the business operate in a growth market?
2. Does the business have a track record of sales [...]