How Should You Approach Your Franchisor About Buying a Second Franchise?

Nov 21, 2022 - Blog by |

As a franchise owner, your options for scaling your business and maximizing your profitability are limited. Not only are you likely geographically limited by your territory, but your options for expanding and offering new products and services are likely limited as well. Perhaps unsurprisingly, this is by design. Franchisors want to extract as much revenue from their franchisees as possible, and, as a result, when franchisees want to expand, their only viable option is often to buy a second franchise.

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Are Franchise Agreements Negotiable?

Nov 16, 2022 - Blog by |

“We don’t negotiate our franchise agreement.” If you have heard this from a franchisor’s sales representative, you are not alone. Many sales reps tell candidates that their franchise agreements are non-negotiable, and while some franchisors simply refuse to negotiate, more often this is a sales tactic designed to get candidates to sign on the dotted line.

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Your Franchisor Misled You—Should You Sue?

Oct 31, 2022 - Blog by |

According to a recent article in the Franchise Times, a group of Cell Phone Repair franchisees has sued the franchisor’s parent company alleging that it misled them into incurring substantial additional costs. As reported, the franchisees allege that the franchisor’s parent company—Assurant, which insures cell phones and other mobile devices—promised to send insured customers to their franchised outlets for covered repairs. However, after franchisees invested in preparing their stores to manage this additional volume, the plaintiffs allege that Assurant reversed course and decided to handle these covered repairs in-house.

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What Happens When Your Franchise Agreement Is Over?

Oct 26, 2022 - Blog by |

Unlike most things, when you buy a franchise, you do not own it permanently. Sooner or later, your contractual relationship with the franchisor will come to an end. When this happens, you will be subject to various post-expiration contractual requirements, and, depending on the circumstances, you could potentially face other post-expiration risks as well.

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Did You Graduate from College with a Certificate or Degree in Franchising?

Oct 24, 2022 - Blog by |

Now that it has been a few years since colleges first started offering certificate and degree programs in franchising, we are seeing more graduates forego the job market and pursue franchise ownership. If you are a recent graduate—or if you are preparing to graduate after the upcoming spring semester—and are thinking about buying a franchise, there are some facts you need to know that you most likely didn’t learn in school.

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How Do Franchise Owners Earn a Living (and What If You Can’t)?

Oct 17, 2022 - Blog by |

When evaluating a franchise opportunity, one of the most important questions you need to ask yourself is, “Do I realistically think I will be able to earn a living?” Operating a franchise entails paying numerous expenses—including not only ordinary business expenses like wages and inventory but also royalty fees, advertising fund contributions and other franchisor-imposed costs. If you need to take out a loan to launch your franchise, this will add to your monthly costs (and your financial risk) as well.

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What Are the Disadvantages of Buying a Franchise?

Oct 10, 2022 - Blog by |

If you are looking for information about buying a franchise online, you will find plenty of articles about the advantages of franchise ownership. But, you likely won’t find much about the disadvantages of buying a franchise. So, what are these disadvantages? Here is an overview of what prospective franchisees need to know.

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