7 Questions to Ask Before Buying a Franchise with Your Spouse

Questions to Ask Before Buying a Franchise

 

Thinking about buying a franchise with your significant other? Ask yourself seven important questions to determine if you and your spouse would make good business partners.

 

Couples are going into business together more than ever before. About 1.2 million Americans run a business with alongside their spouse. Companies like EventBrite, Modcloth, Panda Express and Gap were all built into major brands by married couples who found success both personally and professionally.

 

If you and your spouse share a goal of owning a business, the next step is, well, figuring out if you’re the type of couple that would likely work well as business partners.

 

The key to figuring that out is asking the right questions. Here’s seven of the most important, according to our very own spousal franchise owners. 

 

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Be-Your-Own-Boss Jobs: 6 Options for Aspiring Entrepreneurs

be your own boss

Want to trade in your nine-to-five job and work for yourself? You’re not alone. Self-employment is on the rise in America, right alongside the number of people earning six-figure incomes doing so, according to a recent report.

 

In 2017, the total number of self-employed Americans increased to 40.8 million. That’s up 2.8% from 2016, according to the report by MBO Partners. The number of full-time independent workers earning $100,000 or more rose to 3.2 million, up 4.9% since 2016.

 

In addition to earning more money, self-employed individuals are also reporting that they’re more happy and healthy without corporate shackles. 77% of self-employed survey respondents say they are happier working on their own than in a traditional job and 64% said independent work is better for their health.

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How to Get Your Franchise Found Online

How to Get Your Franchise Found Online

 

One of the most important aspects of building a successful franchise is ensuring that your business can be found by your customers. A consumer research survey has found that 97% of people have begun their search for a business online, with 54% searching for a business at least once a month.

 

If your business isn’t getting found online, that means fewer potential customers are visiting your business. Read on to learn how you can begin building your digital presence and get your franchise found.

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4 Ways to Advertise Your New Franchise

How to Advertise a Franchise

One of the biggest challenges of opening a new business is getting in front of potential customers.

 

Since most people in your area likely haven’t heard of you, a few well-placed ads can generate immediate interest in your business, especially among those who are in need of what you offer but haven’t had an opportunity to buy from a local vendor or service provider until now. 

 

Whether you’re looking for more traffic to your website or simply want the phone to ring, advertising a franchise locally can be done without costing an arm and a leg. When done well, it will pay for itself and then some. Read more

The Pros and Cons of Buying a Well-Known Franchise Brand

 

pros vs cons

When you think of businesses you frequent, or have heard of, you can probably envision their logo, colors, and fonts along with other design-based characteristics that make up that company’s brand.

 

Crowdspring determined that it takes consumers 10 seconds to form a first impression of a brand’s logo, but 5-7 impressions to recognize the logo. The increased exposure is likely why you’re able to quickly recall franchise brands, which makes the branding an important consideration when choosing to open a franchise for yourself.

 

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