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Most Recent Questions in Franchises

What is the outlook for the commercial cleaning industry in 2010?

This industry is one of my personal favorites. There is nothing sexy or exciting about commercial cleaning except for the fact that it is usually a wonderful, successful business that is almost... (more)

What are the pros and cons of buying a franchise?

Let's cut right to the chase--the reason to buy a franchise is that if it is a good one it is a far safer strategy than starting an independent business on your own. You pay fees, but in... (more)

How do I know whether my passion will make a good business?

Sammy, sounds like you're in the mindset of, "I want to do a passion and get paid for it without having to worry about the normal stuff." Good. We all do. Problem is, just because we... (more)

Is it illegal for a franchisor to offer first right of refusal?

It is not illegal for a franchisor to do either of these actions, though they may be required to disclose such actions to you as a potential franchisee. Though it might not be illegal, that doesn't... (more)

What's the norm for franchise royalty/residual payment percentages?

The norm for franchise royalty payments differs depending on what type of business the franchise is engaged in and what the typical profit margins in the business might be. As a general rule... (more)

How can I switch to the non-profit sector?

A lot of people in for-profit enterprises are looking at the non-profit sector nowadays based on the current economic climate, but you need to look at your non-profit venture the same way you would... (more)

What do you think about multi-level marketing business opportunities?

First off, no business is recession proof. Every business, no matter what industry or category, experiences ebbs and flows of revenues and profits. The challenge is to prepare for the downturns as... (more)

How can I motivate my managers and help them focus?

It's difficult for most of us to change ourselves. It's almost impossible for us to change someone else. You have been hired as a consultant. So all you have to do is consult. Do some research... (more)

Do we pay our franchise fee before or after we close on our loan?

They say that timing is everything and your question shows the truth in that statement. It's kind of a "which came first, the chicken or the egg?" question. I'll answer it two ways:... (more)

How should I start to franchise my business idea?

Starting a business or franchise is difficult but the good news is that there are a number of great resources available to guide and assist you in this process. The first is our own... (more)

Is there a way to determine the profitability of various franchises?

Yes there is a published source for finding earnings claims information on hundreds of franchise companies, though almost no one outside the industry knows of it. The source is a book called... (more)

How can I start a non-profit food bank in my neighborhood?

Yes, you can start it as a home-based operation as long as you comply with local and state regulations--or the rules for your particular area. Non-profit status is something else you will need to... (more)

What ancillary services can a computer programmer offer?

Part of me (the part that went to business school) says that you're looking at your business the wrong way -- the business (and the people and structure) exist to serve the demand, and if you don't... (more)

Is a recession the right time to start a business?

The simple answer is: yes, a recession is the right time to start a company. There are dozens of documented cases of great companies starting in the middle of an economic downturn, i.e. Google,... (more)

Are franchise fees negotiable?

Franchise fees are typically non-negotiable but you still have options that may help you -- especially in today's difficult economy. Many franchise companies are now offering direct or... (more)

How can I recognize a growth opportunity?

I can think of four ways to spot a growth opportunity. I'm sure there are others more specific to your product or service, but these are some questions to ask yourself: 1. Can you reach more of... (more)

When buying a franchise, should you stick with the industry you know?

Most franchise opportunities are set up with the assumption that new franchisees will not have any specific knowledge or experience in the specific industry of operation. Though this is not true of... (more)

How do I find investors for a franchise?

You've shown that you have one important attribute for being a successful business owner in that you have entrepreneurial desires and you're not afraid to take risks. Having said that, you still... (more)

What do you think about buying a franchise right out of college?

Buying a franchise right out of college so you can skip the grunt work and go right to "being the boss" sounds great in theory but it does present some challenges. The first of these is... (more)

How do I startup a print magazine?

You'll need to check with your local post office for specialty mailing requirements -- and yes, you will need certificates to mail at discount rates. Beyond that for your magazine, you'll need... (more)
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