Owning a franchise is the best way to become your own boss, but not all franchise owners are equal. Here are 10 things successful franchise owners have in common. If you are looking to make a plunge into the exciting and often challenging world of franchise ownership, it doesn’t hurt to learn from the crème de la crème of the industry. These are highly successful franchise owners who seem to have cracked the code and turned their franchise units into huge money-makers. Without further dilly-dallying … here are 10 traits the most successful franchisees have in common: Trait #1: They Make Their ..read more

Today’s Tip Tuesday is on how to franchise a business. If you have a successful business and have determined that it is “franchise-able” Franchise Solutions has the next steps to take. By “franchise-able” we mean you have evaluated the business’s potential and found that it can be duplicated well. In addition, you have deemed your business offers beneficial returns as a franchise. Read on for the next steps. The Process 1. Develop a business plan A business plan for a franchise outlines your goals and explains the objectives on how you plan to achieve those goals. A more formal plan contains a ..read more

A home-based business is the type of business that you can run, right out of your home. There are several advantages for these types of business opportunities, like being able to deduct your home office expenses and office space off your tax returns. You also avoid having to hire employees and pay employee benefits. Several work at home opportunities do not require extensive inventories, which means you also keep overhead costs low. Home-based businesses are in many different industries. Some examples of industries fit for working at home are vending franchises, which include food vending mac ..read more

It takes a special kind of person to own a business. To illustrate, we asked several industry professionals what they thought were must-have traits to successfully own a business or franchise and here’s what they came up with: Find a path to business ownership 1. Need for Speed People who want to own a business have a driving passion to do or make something. For instance, they could eat, sleep and breathe it. Love pets? There are franchises that solely focus on pet care. From technology to teaching, and tacos to taxes, there are opportunities waiting for you to step in and conquer that industr ..read more

Starting a franchise represents a compelling option for many aspiring business owners. In fact, we at Franchise Solutions would argue it’s the safest and most efficient route to self-employment. Franchises offer the ability to leverage a proven business model, simplify the process of accessing start-up capital, and capitalize on a brand that is already recognized in the marketplace. Nonetheless, there are potential obstacles and risks to consider when exploring launching a franchise in your market. In this article, we’ll examine the greatest hurdles to franchise ownership, and what steps you ..read more

If you’re contemplating franchise ownership, understanding the Franchise Disclosure Document (FDD) is an essential step that cannot be taken lightly. The FDD is often perceived as being overwhelming due to its sheer volume alone, with many tallying in excess of 200 pages. Dense passages filled with legal jargon and financial data only serve to make the FDD even more intimidating. Yikes! Nothing sounds worse than reading pages of words that barely make sense. At Franchise Solutions, we’re here to help you develop a basic understanding of the FDD and assuage any concerns you might have about per ..read more

Lapels Dry Cleaning franchise is a leader in the dry cleaning industry. And, it is creating a buzz in the industry since acquiring five companies, making it the largest dry cleaner on the planet.  Lapels acquired Martinizing Dry Cleaning, 1-800-DryClean, Pressed4time, Dry Cleaning Station and Bizziebox. Lapels and its equity partner, Greybull Stewardship, L.P. (“Greybull”) merged into Clean Franchise Brands, LLC (“Clean Franchise Brands”). With 500+ stores in 40 states and nine countries, Clean Franchise Brands is now the largest dry cleaning company in the world. Kevin Dubois, CEO and Pr ..read more

Franchises are a great way to have your own business with a proven model, and the know-how of people who already did it, and a brand to back you up. That is why this business model is so popular for people who want to be independent but don’t have a revolutionary idea to break through a market or disrupt an industry. And the truth is, there is nothing wrong with not having the next big idea, you can have a solid business in a traditional industry and do well. But one of the main challenges to buy into it is funding. Small business financing is a good option if you don’t have a lot of savings ..read more

Brett Bratton, of Tucson, AZ, is one of Bloomin’ Blinds’ newest members to join the franchise. Once a table games dealer at a casino, Bratton got tired of working nights and holidays and found the line of work lacked a sense of purpose. “I always wanted to run my own business but never really had the means,” says Bratton. After selling his house to work at the new casino, and having the time to think about his next career move during the lockdown, Bratton decided to look at franchises. “I inquired to a lot of franchises. But, the only one that stuck out for me was Bloomin’ Blinds. It met all m ..read more

Owning a franchise is a dream career for many people, providing them with comfortable incomes and work they enjoy. But it’s not right for everyone. So weigh franchise advantages and disadvantages to determine whether the industry is the right fit for your entrepreneurial aspirations. Here are factors to consider before taking the plunge. Franchise Advantages • Proven system: Franchises present entrepreneurs with a proven system of success. All the hard work and trial and error have already been done by the franchisor.  It’s a much easier—and less risky—way to own a business than starting ..read more