Franchise

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Why the Former President of CiCi's Pizza Became a Bakery Franchisee
Franchise Players

Why the Former President of CiCi's Pizza Became a Bakery Franchisee

As president of CiCi's Pizza, Craig Moore learned plenty about franchising. That's why he bought a Nothing Bundt Cakes franchise.
Kate Taylor
Bringing Something New to Auto Repair Franchising as a Woman
Franchise Players

Bringing Something New to Auto Repair Franchising as a Woman

Tired of being "treated like a moron" when she went to the auto repair shop, Sherry Rector decided to open an Honest-1 Auto Care franchise of her own.
Kate Taylor
Thanks to Auto Industry Rebound, Franchising Booms in November
Jobs

Thanks to Auto Industry Rebound, Franchising Booms in November

After a slow October, the franchising industry added nearly 25,000 jobs last month.
Kate Taylor
Bringing Innovation to the Dry Cleaning Industry
Franchise Players

Bringing Innovation to the Dry Cleaning Industry

For Hector Di Bonaventura, franchising provided a way to bring something new to an industry lacking in innovation.
Kate Taylor
Starting From Scratch After 15 Years in the Workforce
Franchise Players

Starting From Scratch After 15 Years in the Workforce

Eric Silver had worked at a small business, a medium-sized business and a large corporation, but nothing felt right until he opened up his own franchise.
Kate Taylor
How to Make the Best Career Choice for You
Career Change

How to Make the Best Career Choice for You

Listen to yourself and explore all the possibilities. In the end, you'll know what makes sense.
Joel Libava
Helping Dementia Patients Through Franchising
Franchise Players

Helping Dementia Patients Through Franchising

As Right at Home franchisees, Mark and Dr. Nicole Ross serve their community with a new program that helps battle memory loss through music.
Kate Taylor
The 5 Elements of a Successful Franchise
Franchises

The 5 Elements of a Successful Franchise

There is no one perfect franchise, but there are many that have elements that lay the groundwork for success.
Joel Libava
Turning a Mom-and-Pop Business into a Franchise That Serves 14 States
Franchise Players

Turning a Mom-and-Pop Business into a Franchise That Serves 14 States

In 9 years, Vincent Lee took a small janitorial business and turned it into a franchise that provides services for huge companies including Nike and FedEx.
Kate Taylor
You're Either an Entrepreneur or You're Not. There Is No In-Between.
Franchise Players

You're Either an Entrepreneur or You're Not. There Is No In-Between.

Shahid Hashmi is an entrepreneur through and through, as the franchisee of 40 Popeye's, two Burger Kings and one ZIPS Dry Cleaning.
Kate Taylor
How These Subway Owners Decided to Open a Teriyaki Madness Franchise
Franchise Players

How These Subway Owners Decided to Open a Teriyaki Madness Franchise

This husband and wife duo already own 16 Subway franchises. Now, they're expanding into the Asian grill market.
Kate Taylor
To Find the Right Franchise, Test Drive More Than One
Franchise Opportunities

To Find the Right Franchise, Test Drive More Than One

Selecting a franchise is an enormous decision. Take a look at several, and consider your own skills and goals, before choosing.
Rick Bisio
How I Protect the Environment as a Green Cleaning Franchisee
Franchise Players

How I Protect the Environment as a Green Cleaning Franchisee

For Lindsay Dellasega, EcoMaids is the perfect combination of sustainable living and entrepreneurship.
Kate Taylor
Why Business Ownership Is an Exercise in Personal Development
Franchise Players

Why Business Ownership Is an Exercise in Personal Development

This franchisee coaches others to follow in her entrepreneurial footsteps.
Kate Taylor
Franchise

Franchising is a business opportunity that's somewhere between buying an existing business and launching a startup in terms of creativity, independence and risk. A franchisee buys a license from a franchisor to be a dealer of that business model. The owner of the franchise sells a product or service through its franchisees.

In exchange for an initial set-up fee and a monthly payment, the franchisor provides the franchisee a business model, marketing supplies, staff-training assistance, managerial consulting and a pre-existing supply chain. Also, the franchisee benefits from the franchisor's economies of scale, receiving access to prices that a business owner may not otherwise get running a single shop.

There is, in theory, less risk to buying a franchise business than starting a business from scratch because the business model has been tested. Also, as a franchise unit owner, you have a built-in advisory board in the management staff of the umbrella franchise organization. On the downside, you have less creative control over your business as a franchisee than as an independent business owner.

For more information about the top franchises, check out Entrepreneur's Annual Franchise 500 ranking.
 

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