When it comes to creating the winning franchise formula most small business owners think they know the ingredients. If they didn’t, they most certainly wouldn’t venture out on their own. However, according to the Bureau of Labor Statistics’ Business Employment Dynamics, about 80% of businesses will survive their first year in business. About 66% will survive their second […]
The modern franchising model can be traced back to Isaac Singer, founder of the I.M. Singer and Company, manufacturer of sewing machines. Singer and his business partners sold rights to businesspeople who were interested in selling his sewing machines within specific geographical areas. This system served as a win-win for both the company and the businesspeople that […]
Fear is a natural protective response, especially when you are about to experience something you’ve never experienced before. Fear of the unknown can keep us safe because it forces us to evaluate the situation before moving forward. While fear can keep us safe, if the perception of fear is not managed and assessed rationally it can also […]
There are many reasons an entrepreneur chooses to engage in business with a franchise as opposed to going out on their own. Just like personal relationships, most franchisees are drawn to a franchise because they like how the brand looks and feels. Maybe it was the brand marketing that caught their eye. Maybe it was an experience […]
Owning your own business is a dream many people have. The freedom to be your own boss and to control your own destiny is a strong lure, especially in an ever-changing business environment where loyalty and commitment seem to be a thing of the past. There are many reasons people decide to step out on their […]
