How important is industry knowledge when starting a franchise?
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
1w ago
There are franchise opportunities available in everything from oil change facilities and restaurants to automotive dealerships and home services companies. Some entrepreneurs contemplating a franchise opportunity have previously worked in the specific industry in question. For example, someone who has helped manage a restaurant might find the idea of opening a franchise location of a popular chain restaurant very appealing.… The post How important is industry knowledge when starting a franchise? first appeared on Dady & Gardner, P.A ..read more
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Can business partners buy a franchise?
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
2w ago
You know that you want to become a franchisee. You’re interested in running a franchise restaurant, for example, and you believe that it can be a lucrative investment. Maybe you know that there is a large target audience in your area and they do not have enough options currently, so you see an opportunity to tap into this market. However,… The post Can business partners buy a franchise? first appeared on Dady & Gardner, P.A ..read more
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Why is market saturation important to franchisees?
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
1M ago
There are several things franchisees need to consider before they take the necessary steps to open a franchise. One of these is market saturation, which has to do with how much of a similar service or product is already in their target area. If there are too many businesses that offer the same items or services, it can water down… The post Why is market saturation important to franchisees? first appeared on Dady & Gardner, P.A ..read more
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What if your franchisor’s new direction is harming your business?
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
1M ago
The fast-food industry is a highly competitive one, and Subway has been struggling to keep its share of the market in recent years. To that end, it called together its North American franchisees for a meeting last month to discuss reasons for the decline in sales and profits as well as strategies to bring the company out of the slump.… The post What if your franchisor’s new direction is harming your business? first appeared on Dady & Gardner, P.A ..read more
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Local advertising campaigns can be a source of franchise conflict
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
2M ago
Branding and marketing are crucial for long-term business success. The amount of time and money required to develop a new brand is one reason why people choose to invest in franchise opportunities instead of creating a company from scratch on their own. Signing a franchise agreement is like buying into an existing brand. It takes a lot of the footwork… The post Local advertising campaigns can be a source of franchise conflict first appeared on Dady & Gardner, P.A ..read more
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How potential franchisees can get the most out of Discovery Day 
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
2M ago
Even if you’re new to franchising, you’ve probably heard of “Discovery Day.” Sometimes, it’s called “Meet the Team Day.” Whatever a franchisor calls it, it’s an opportunity for them and for prospective franchisees to get to know each other. Often, they’re held at the franchisor’s headquarters or some other on-site location. Sometimes, they’re done via videoconference. While, as a potential… The post How potential franchisees can get the most out of Discovery Day  first appeared on Dady & Gardner, P.A ..read more
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3 steps to reduce risks as a franchisee
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
2M ago
Running a franchise is a lot of work. Yet, a franchise can fail just like any business, and the franchisor may not readily save the franchise from failing.  Franchisees can take steps to reduce the risk of failure. Here is what you should know: 1. Research the franchise’s background Many franchises have some kind of reputation. This reputation may not… The post 3 steps to reduce risks as a franchisee first appeared on Dady & Gardner, P.A ..read more
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Running a franchise? Why you need an exit strategy
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
3M ago
Most people setting out on their franchise journey focus on startup costs, initial operations and growth potential. While those are important considerations, having an exit strategy is equally crucial. Things may not work out as expected, and you never know when you might want out. Unforeseen circumstances, such as changes in market dynamics, economic downturns or personal reasons like health… The post Running a franchise? Why you need an exit strategy first appeared on Dady & Gardner, P.A ..read more
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Does the franchisee get to hire its own employees?
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
3M ago
A franchisee has a very unique position. On the one hand, they are running a business, such as a fast food location, an auto dealership or another type of retailer. At the same time, this isn’t a business that they started. They’ve purchased the license from the franchisor, so they are legally allowed to operate under that business name. As such, the person operating that franchise location may wonder if they are in charge of hiring and firing employees, or if that ability resides solely with the franchisor. Do they get to make choices about their staff, or are they going to be told who they h ..read more
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3 details to double-check before signing a franchise agreement
Dady & Gardner Blog
by rajayogan.s@thomsonreuters.com
4M ago
A franchise agreement is a complex, highly-valuable contract between an entrepreneur and a company offering business opportunities. The franchisee signing the agreement effectively buys into an existing company to operate a standalone facility. They may have what is essentially a turnkey business opportunity if they invest in the right franchise. The terms of the actual contract signed largely dictate how beneficial a franchise opportunity could be for an investor. There are certain terms that may make or break an investment opportunity. Franchisor investments Franchisees often look primarily ..read more
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