Joel Libava's Blog: The Franchise King Blog, page 69

Franchisors: Stop Using This Word To Recruit New Franchise Owners!

I was under the impression that when I got older, two things would happen.

1. Stuff wouldn’t bother me as much

2. I would mellow with age

So far, I’m zero for two.

One reason: The industry I’m in that continues to aggravate me at times. Like when certain franchisors insist on using a certain word to recruit new franchise owners. A word that’s very disingenuous-as you’ll soon see.

Keep reading to find out what that word is, and why franchisors need to stop using it.

In Franchising, New Franc...

Franchise Buyer Warning: The What If’s Are Coming!

Are you about to buy a franchise? Fantastic! What follows is a franchise buyer warning: the What If’s are coming! For you. But first, a little reminder…

This “buying a franchise” thing you’re about to do is for all the marbles.

It’s what you’ve been working towards the past couple of months. Including:

The money you invested to work with an unbiased franchise adviser All of the calls you made to franchiseesto get answers to your most burning questions. The trip to franchise headquarters to...

Pizza Franchises: How Much Pizza Knowledge Do You Need?

Before you dive-in to this article about pizza franchises knowledge needed, take a look at the title again. What’s your answer to the question I posed: “How much pizza knowledge do you need?”

Now, remember your answer and proceed.

His Attraction To Food/Pizza Franchises

Have you read my book on becoming the owner of a franchise?

If so, you already know about James Pennington, the character in Chapter 1 of Become a Franchise Owner!: The Start-Up Guide to Lowering Risk, Making Money, and Owni...

Franchise Business News For August

Here is the latest franchise business news for August. I think you’ll like these stories!

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The one #1 reason this couple in Wisconsin purchased Mosquito Squad:

“We felt it would sell. Everyone has mosquitoes, The business here is about peaceful outdoor living. People want to be outside without mosquitoes.”

It seems they’ve scratched an itch in their community.

Speaking of growing service-based franchise busines...

Is It Yes Or No On The Franchise You Want To Buy?

It comes down to this.

You’re alone at your desk staring at the 35 page franchise agreement (contract) you received from the franchisor via FedEx 2 days ago.

Correction: You’re not really staring at the legal agreement you’re thinking of signing. You’re staring at the enormity of what you may be about to do. It’s a bit disconcerting when you get down to it.

That’s because when you buy a franchise type of business, the franchisor kind of owns you for the next 10 years-if you sign on the dotte...

Business News: Subway® Signs Cooperative Agreement Ensuring Fair Pay For Its Workers

Check out this important business news.

In a move that must be freaking out International Franchise Association executives,Subway has agreed (in writing) to focus on making sure its franchisees comply with current labor laws.

Subway just voluntarily signed a cooperative agreement with the U.S. Department of Labor Wage And Hour Division ensuring fair pay for its workers. From The U.S. Department of Labor website:

“The agreement serves our two missions and codifies our shared interests. Subway...

My Clients Never Ask Me About This Type Of Franchise

Never. Not once.

I’ve never had a client ask me if there were any pharmacy franchise opportunities available. Pretty strange now that I think about it. Talk about sales volume. Talk about a business that’s growing-mostly due to our aging population. There would seem to be a lot of beef in a franchise business that sold prescription and non-prescription medications. Heck, I could even see a pharmacy franchise business (with a forward-thinking CEO) offering compounding products, too.

CVS Is...

Franchise Ownership: The One Thing They Don’t Tell You

I’m not sure why they don’t tell you. It’s not like you’re a kid. If you’re old enough to write a $40,000 check (for the upfront franchise fee) you’re certainly old enough to handle the truth. That’s my opinion, anyway. I really think they should tell you. Becoming the owner of a franchise is a major decision.

The Things They Will Tell You

Here’s a list of things they’ll tell you:

The amount of money you’ll need How many franchises they have up and running Why their brand is great How they m...

July Franchise And Small Business Links

There is lots going on in the world of franchising and small business. Let’s dive right in.

Franchise Links

Speaking of diving, restaurant same store sales continue to be weak. According to Nation’s Restaurant News, same-store sales fell .7 percent, which followed last quarter’s .2 percent year-over-year drop. This is now the second consecutive quarter in which the industry has failed to produce positive sales growth. Are you dining out as much as you used to?

I wonder how busy Brent Kyte’s...

Can Choosing The Right Franchise Make You Rich? Part 3

If you want to be rich, one way to get there is by owning a franchise business…several franchise businesses, actually.

There are a lot of very successful (rich) franchise owners around. Most of them are multi-unit franchise owners, owning 10, 20, 50 or more franchise units. And, today, a lot of them own multiple brands-like the franchisees featured in this QSR Magazine article.

In Part 2 of this series of articles, I discussed multi-unit franchise ownership as well as other well-known franch...