Franchise Note

Tips to Increase Sales

Ivan Widjaya — Tue, 07 Sep 2010 02:10:50 +0000

Increasing sales

This is a guest article by Andy Mutt

As more people lose jobs in this economy, more people are considering becoming franchise owners, today. But in order to increase sales, franchisees will need to start thinking out-of-the box and working closely with their franchisors to increase sales.

Here are some activities you should consider to increase revenue:

Direct mail coupon campaigns:

In this economy, everyone considers the price before purchasing any product and the best way to attract customers to your store is to provide them with coupons.

Mobile

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5 Reasons Why Established Franchises Fail

Ivan Widjaya — Sun, 22 Aug 2010 14:58:08 +0000

Stop listening will fail your franchise

Despite our lackluster economic situation, we should never blame the recession for our franchise failure.

In franchising, we have witnessed some established franchises made it, while some others don’t – both franchisees and franchisors share their own mistakes; in franchising, “it takes two to tango” couldn’t be more relevant.

Here are some reasons why established franchises fail, looking from both sides – franchisors and franchisees:

1. Franchisors compromise too much, franchisees demand too much

In order to win franchisees’ business, some franchisors are compromising on…

Press Release: Entrepreneur’s Source Hosts Exclusive Franchisor Discovery and Networking Event in Fort Lauderdale, Fla

Ivan Widjaya — Thu, 19 Aug 2010 10:42:32 +0000

TES Event

An Invitation No Franchisor Should Refuse:

The Entrepreneur’s Source Hosts Exclusive Franchisor Discovery and Networking Event in Fort Lauderdale, Fla.

North America’s Leading Career and Franchise Business Coaching Company Invites Franchisors to Get Glimpse at Proven Growth Programs

Southbury, Conn. – The sheer pace of professionals making the move to entrepreneurship is extraordinary. Millions are creating new businesses for themselves at a tempo surpassing even last decade’s tech boom (Kauffman Index of Entrepreneurial Activity).

The Entrepreneur’s Source (TES), the franchise industry’s leading career and business coaching company,…

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Failing Franchise: What to Do Next

Ivan Widjaya — Mon, 16 Aug 2010 10:36:33 +0000

Failing franchise

When you are pitched by a franchise company that franchises can’t fail, just stay away from that franchise: Franchises – just like any other businesses – can fail. What to do next if your franchise is failing?

I was pitched that franchises has a better sustainability due to their inherited ability to succeed. I was also pitched that franchises can’t fail because when you buy a franchise, you buy a proven system.

Wrong – my two franchise units were going out of business for one reason or another.

I’m…

Dealing with Your Struggling Franchise Units: Learn from Those who Have been There

100 Questions You Should Ask or Answer before Buying a Franchise

Ivan Widjaya — Sat, 17 Jul 2010 02:32:54 +0000

100 franchisee questions

Not all can be franchisees – there are certain personality traits and circumstances that can hinder you from being a successful franchisee.

Are you a franchisee material? Here are 100 questions to ask or answer to ultimately help you determine whether you have all the potential to be a great franchisee or not, excerpted from Franchise Bible:

1. Have you and your spouse and knowledgeable family members discussed the idea of buying a franchise?

2. Are you in complete agreement?

3. Do you have the financial…

How to Resolve Franchise Disputes

Ivan Widjaya — Mon, 05 Jul 2010 13:08:08 +0000

Dispute resolution

Franchising is about teamwork and relationship. In any kind of relationship you will encounter frictions, whether you like it or not. Here’s my view on how to resolve franchise disputes.

Disputes are often inevitable. Franchisors are doing their best in forming a franchise agreement that will work for them and for the franchisees. Franchisees are also doing their best in complying with the agreed franchising terms.

Unfortunately, there will be times that what’s written in the franchise agreement can’t be met by either franchisors or franchisees. Since there are…

Franchise Partnership: If Running a Franchise Unit Yourself is Too Much to Handle

Ivan Widjaya — Mon, 14 Jun 2010 06:38:23 +0000

Franchise Partnership

Buying a franchise unit is probably easy if you have the capital, but running one is a different story.

Firstly, a franchise owner is required to be responsible for the whole business operations, from hiring to managing finances. This is a good thing, but not many can actually do this well – wearing many hats is not for everybody.

Secondly, a franchise owner is expected to build a good relationship with the franchisor and other franchisees, because in essence, franchising is all about relationship. Also, you are expected to…

Franchise Opportunities – Easy to Run, No Experience Required

Ivan Widjaya — Sun, 30 May 2010 03:01:01 +0000

Franchising is not magic

“Franchise opportunities – easy to run, no experience required!”

In this article I want to be totally honest with you: Whenever you encounter such offer, not only in franchising but in any business opportunities, my only suggestion for you would be to stay away, even run away from them.

Franchises are mistakenly touted to be businesses that are easy to run – thanks to the proven franchise system in place. This is misleading and could lose franchisees money eventually.

Here’s the cold, hard truth: Despite the proven…

Franchisee: How to Gain the Most from Your Franchise Agreement

Ivan Widjaya — Sat, 22 May 2010 07:48:27 +0000

Franchise agreement signing

You have prepared everything you need to do to buy your dream franchise: Location, check. Market research, check. Financing, check. The due diligence, check, check and check. Now it’s time to move a step forward: Let your franchisor know that you are ready for reviewing and signing a franchise agreement.

Franchise agreement is where things are put at stake – Misinterpret it, and you’ll face the consequences for at least 5 to 10 years.

Franchise agreement can be 50 pages long, even more, and can be overwhelming to…

Buy a Franchise: How to Finance Your Purchase

Ivan Widjaya — Fri, 21 May 2010 17:16:05 +0000

Franchise financing

Finally, the search is over – you have done your homework and have found your dream franchise and you just know it has a bright future. The next step would be: buy the franchise; the big question: how will you finance the purchase?

Unfortunately, franchises are stereotypically known as businesses requiring quite an amount of investment and cash – something that not many of us have. Don’t lose hope, though – as an entrepreneur and business owner, you must acquire the all-important skill: the ability to leverage other people’s…

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