How to Become a Franchise Owner: A Step-By-Step Guide

How to Become a Franchise Owner

Becoming a franchise owner is a process that takes planning, dedication, and due diligence. It involves a healthy dose of self-examination, research, asking good questions, and ultimately, making an informed decision that will give you the best chance at success and happiness.

While everyone’s journey to franchise ownership is different, those who find success in a business they enjoy typically follow a few basic steps, which we’ve broken down here one-by-one.

Whether you’re only just considering becoming a franchise owner or find yourself part-way through the process already, use this guide to ensure you’re checking all the boxes on the steps you need to take to make a truly informed decision about the franchise that’s right for you.

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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

4 Resolutions for Franchise Growth in 2017

2017 business growth

With January approaching quickly, our thoughts often turn to making resolutions for the upcoming year. When you think of resolutions, you probably think of the common ones that you can apply to your personal life. But, as a franchise owner, there are ways you can set up resolutions to grow your business. The best part about the following resolutions is that they are not likely to be tossed aside by February. Putting them in place now will position you for success throughout the year.

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When Will My New Franchise Become Profitable?

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Opening a new business, whether it is a franchise or not, is a risk. One of the biggest questions you may have before buying a franchise is when it will become profitable. The start-up costs for new businesses are significant, which makes getting a return on your investment and sustained profitability one of the main goals for all new franchise owners.

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When Does a Franchise Become Profitable?

Franchise profitability

Every franchisee enjoys the freedom and lifestyle that comes with business ownership, but let’s get real––at the end of the day, earning revenue is what drives us to succeed.

 

With this in mind, you’d think business experts would be clamoring to answer one of the most important questions on the minds of prospective franchise buyers:

 

How long will it take before I can actually start making money?

 

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