Franchise Business Review’s Post

Starting a franchise can be daunting, but with the right guidance, you can set yourself up for success. We've put together a comprehensive guide to help new franchise owners thrive. Check it out now! #BusinessResources #FranchiseTips #BBSI

Starting a franchise can be daunting, but with the right guidance, you can set yourself up for success. We've put together a comprehensive guide to help new franchise owners thrive. Check it out now! #BusinessResources #FranchiseTips #BBSI

Family-owned franchises face additional complexities when passing on the business to the next generation. Franchisors must approve the new franchisees, so it’s best to have one person as sole-decision maker for business. By planning early and having difficult conversations up front, succession doesn’t need to be contentious or overly complicated. Some interesting examples here of how the next generation can take the helm seamlessly, whether as a franchisee or franchisor. #familybusiness #familyownedfranchise #sucessionplanning

I am excited to announce I've joined Franchise FastLane as a Director of Franchise Development.   Franchise FastLane’s experience, focus and specialty is franchise development. We know how to deliver explosive growth for franchisors.   You drive your business. We drive your growth.   The most significant hurdle to franchise growth is finding and converting qualified leads. The FastLane team knows exactly how to create the right process, the right FDD, Item 19, Discovery Day and marketing materials to get noticed and achieve success. This allows business owners to stay focused on what they do best (running their business) while avoiding significant investment into an internal sales team with no guaranteed results.   You drive your business. We drive your growth. SAVE MONEY...pay nothing until we deliver. STAY FOCUSED...do what you do best. FAST-FORWARD...expedite your growth. PROFIT...tap into our experience.   www.franchisefastlane.com

Thinking about joining the ranks of new franchise owners this year? To help position your franchise for success, our team has compiled a list of 4 actionable tips that new franchise owners should keep in mind as they approach new business opportunities. Read them here:

The 3 steps to become a franchisee when you've never done it before: I'm the proud owner of a The Brothers that just do Gutters franchise. Here are the steps that took me from an employee to an owner: --- Step 1: Get the FDD The Franchise Disclosure Document (FDD) is your first step. FDD's have all the info you need on a franchise. They're a legally standard document all franchisors must provide to state Attorney Generals. And most importantly they show the historical financials. Find yourself the franchise FDD (more on how to get it later) and read it, This is how you determine if the $$ makes sense. --- Step 2: Meet with Franchisors and Existing Franchisees Talk to everyone. If you like what you see in the FDD, it's time to talk to the people. Franchisors will generally have a couple onboarding calls where they introduce you to the process, financials, culture, support, etc that they provide. They'll should also have active franchisee's present to you. This is how you know if the culture and support are a "fit". --- Step 3: Review and Sign the Franchise Agreement Pull the trigger. Ready? Like what you see? Do the financials make sense, can you finance it? Are you ready to put in the work to build your own business? Then it's time to sign a Franchise Agreement and get started. --- Read this post and more: https://lnkd.in/eQPYJpgT

🚀 Unveiling the Realities of Franchise Success! 💡 In this dynamic 60-second clip from my conversation with Doug Schadle, CEO of Rhino7 Franchise Sales and Development, we dive into the essence of the franchise journey. 🌐 Doug emphatically highlights a common misconception in franchising – the notion that success is instantaneous. 🚫 Year one as a franchise owner, he reveals, is a formidable learning curve, marked by the challenge of scaling a business. But fear not! Beyond this initial hurdle, the landscape transforms into a realm of excitement in year two, and by year three, operations become second nature as the business flourishes. 📈 Franchising isn't a magic wand; it's a partnership. 💼 Doug emphasizes that franchisors seek committed partners who understand the journey's nuances – a far cry from the fallacy that success materializes by merely throwing money at an endeavor. The truth? Building a thriving business takes time, typically 6-24 months, as franchisees evolve into motivated individuals steering their futures. 🌟 They're not just business owners; they're architects of valuable assets they control. 💪 Join us in demystifying the path to franchise success! Full Episode: https://lnkd.in/eM9ZQRVx Schedule an Appointment: https://lnkd.in/ei5YTkMA Call/Text: 786-789-0744

In the world of franchising, there are tales that cause a seismic shift in our perception. One of these is the monumental downfall of Burgerim and its founder, Oren Loni. As a franchise law attorney, I find the stark impact of this judgment to be far too tardy. Picture the immense suffering of over 1500 individuals who were duped into buying into the Burgerim dream - a dream that eventually crumbled like a house of cards. The government's lawsuit against this once thriving franchise came, but unfortunately, it came too late for many. Loni manipulated the dreams of burgeoning business owners with promises of a prosperous franchise, asking them to part with their hard-earned savings, upwards of $70,000, without being candid about the true risks involved. The saga deepens with Burgerim and Loni pledging refunds they had no intention of honoring, underestimating the costs of opening locations, and artificially boosting the level of support provided to franchisees. Loni’s dramatic exit was as unforeseen as his deception. He let go of his staff, closed up shop in California and vanished without a trace, leaving behind a trail of devastated franchisees and paper trails. While the court-ordered penalty of $56 million may seem substantial, it's merely a drop in the ocean compared to the damage suffered by those who were deceived. It's a clear case of, 'too little, too late'. Although this judgment is a move in the right direction, the substantial delay in delivering justice lays bare the need for more efficient oversight in the franchise industry. Lessons must be gleaned from this painful saga. Prospective franchisers and franchisees, I urge you to exercise utmost caution and perform extensive due diligence before diving into any opportunity. Be wary of deceptive sales tactics. In the world of business, if something appears too good to be true, it usually is. The Burgerim case should serve as a clarion call for us - to seek greater transparency, more stringent regulations, and swifter justice. However, until such changes are implemented, trust your instincts, stay informed, and most importantly, remain vigilant. The franchise industry is waiting for your comments on this pressing issue. Share your thoughts below. #franchise #franchising #burgerim

Having an Executive Coach ensures everyone is working toward the same goal. JumpStart Franchise Services is here to help. Read more about the difference your executive team can make: https://bit.ly/48hYpga