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Is Franchising Right for Your Business?

Before deciding whether to franchise your business, you should learn some key principles of the franchising industry. Many businesses fail due to mismanagement because they use franchising to grow too quickly. You must determine whether franchising is right for your business by evaluating your available funding, personnel, and ideal customer. Understanding how to use franchising …

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Are You Ready to Franchise Your Business?

Are you ready to franchise your business? If you have a product that’s proven successful and a loyal customer base, you may be able to increase your business’ income and create more jobs in communities by franchising. Your business’ ability to franchise successfully relies upon funding, people, attention to detail, and a desire to better …

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How Franchising Builds Brand Awareness

Brand awareness is one of the most important factors in building a successful business. Having a loyal customer base who will advocate for a business is essential for a business’ growth. Franchising makes finding more of these advocates easier. More locations bring in more customers, and those customers build a business’ brand awareness. The most …

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What is a “Franchise Discovery Day,” and What is its Role in Franchising?

Franchise Discovery Day When deciding whether or not to purchase a franchise, prospective franchisees will typically visit a franchisor’s corporate office, have meetings with the corporate team, and also visit one or more existing franchise units. This process is called “Discovery Day” because it gives prospective buyers an opportunity to learn about a company’s ownership, …

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How to Finance a Franchise

If you are a business owner trying to franchise you probably have concerns about how to cover the cost of franchising. You have three main options when considering how to finance a franchise: traditional business finance, Small Business Administration loans, and crowdfunding. Each method has various benefits and drawbacks. As a business owner, you are …

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What Is An FDD and How Does It Fit Into Starting A Franchise?

A franchise disclosure document is a legal document a franchisor must disclose to a prospective franchisee before a franchise sale. An FDD contains 23 disclosure sections including information about the franchisor, the potential sale, franchising fees, and information about the legal relationship between franchisor and franchisee. Franchise law requires a multitude of financial information disclosures …

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How to Find a Location for Your Business

When starting a small business, finding the right location is an extremely important factor in becoming a successful company. When deciding on a location for your business, you should consider a few aspects of your specific situation: budget, business/space type, brand, vendors, safety, and demand for your product. Each of these elements will vary depending …

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