Franchising has now been going strong for more than 50 years. Why does it work? For would-be franchisors, it is a way to expand with other people’s money and human resources. For franchisees, it is a way to get into business without having to reinvent the wheel or go it alone. Of course, like any business venture, there is no guarantee of success for either franchisor or franchisee, and each should understand what they are getting into before setting out on this path. Continue Reading Franchising – Standing the Test of Time

We often talk to people who were told they could avoid the regulations of franchising if they simply granted a “license,” or entered into a “consulting agreement,” with a person who approaches them about opening a similar business. Be very wary of such advice; in most cases, these are unregistered franchises that can expose you to significant liability. As they say, “if it quacks like a duck…”. Continue Reading Be Careful Licensing Your Business – You May Be Granting a Franchise

Experts will tell you the most important thing when you consider franchising your business is to do “X” or to check out “Y” or be certain you have “Z”. For me, rule number one is not unique to franchising but something I told each of my three children as they were growing up: Rule No. 1 is to “choose carefully”*. It is good advice in life – choose carefully before going down this path or that one. It is particularly important for a franchise company. Continue Reading Rule No. 1 – Choose Carefully