Is cannabis franchising for you?

The fastest growing industry in the U.S. job market today is cannabis, according to industry experts Leafly and Whitney Economics. Franchising, they say, is not only the natural way to grow the industry, but also the way to meet consumer demands for cannabis and CBD products. According to Marijuana Venture, the journal of professional cannabis growers and retailers, for a …

Entrepreneurs and Franchisees: Which side of the fence are you on?

In the mid-1940s, Harland Sanders had a chicken recipe so popular that the governor of Kentucky designated him a Kentucky colonel. Eventually, Col. Sanders focused on franchising his fried chicken business around the country. The company went on to become the world's largest fast-food chicken chain, Kentucky Fried Chicken. Peter Harman had the good fortune of meeting Sanders, and in …

How are companies on the Franchise 500 selected?

Every year for the past 40, Entrepreneur Magazine has presented its annual Franchise 500 list. Headquartered in Irvine, California, the magazine uses an ever-evolving formula to rank the strength of the franchise opportunities offered today. The first step in determining the ranking was to gather information, which starts in July. Franchisors are asked to fill out Entrepreneur’s online form and …

A bigger slice of the pie

With Thanksgiving last week, I have pumpkin pie on the brain. One slice is never enough! Likewise, in franchising sometimes owning only one franchise just doesn’t cut it. While franchises provide sales and support services to individual franchisees, there is another option out there for what are known as master franchisees and area developers. This level of franchisee is a …

Niche Fitness Franchising

My daughter Katie and I love to shop and are especially drawn to small boutiques offering unique, upscale items that can’t be found at local big-box stores. Boutiques are more limited in size, scope and inventory, and often evolve out of an owner’s desire to pursue their dreams of becoming an entrepreneur. Just as retail boutiques cater to a niche …

Passively speaking, Franchising is a Great Option

Opening and operating a business takes hard work, owning a franchise is no exception. But the benefits of having your own business and possibility that your income will continue to grow while the amount you work remains the same or is actually reduced, is hard to beat. The key is to actually get to that point – get the franchise …

There is your Dagger!

Now that football season is underway, I find myself using more and more football metaphors when discussing how potential franchisees need to keep their eye on the ball when reviewing franchises. See, there I go again! In my years of being a franchise consultant, I’ve found that one of the biggest issues that clients face when trying to make a …

Thank you, veterans!

Today we celebrate and honor veterans for all they’ve done for us. I personally pay tribute to my grandma and grandpa on my father’s side (photo of them is from 1945), and every uncle on my mom’s side, as well as her father, my paternal grandpa (attached photo from 1943). VetFran, an initiative of the International Franchise Association and the …

Why is this Non-negotiable?

All good Franchise systems will require that Franchise agreement are the same for all Franchisees. As a consequence, they will generally make the statement that the Franchise Agreement is a non-negotiable instrument. If a Franchise system allows for the negotiation of the various clauses contained within its Agreement that should be an indication that their own belief in their system …

Considering Business Ownership? Why Work with a Consultant?

Complimentary Consultation Services. You don’t pay anything before, during or after you purchase the business. Consultants are paid a referral fee by the franchisor when you buy a business. Franchisors are willing to pay to find them pre-screened, qualified buyers who are the right fit for their operations. Outsourcing this service lowers the franchisor’s advertising costs and means fewer in-house sales …