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Franchising and Veterans with Disabilities
Strong leadership skills, drive and a teamwork mentality make for ideal franchisees. When it comes to veterans with disabilities moving into small business ownership, the franchise business world is reaping the benefits. Veterans Make for Ideal Franchisees It is widely known that veterans often make for ideal franchisees. Great franchisees understand that they are part of a bigger team, while having the independence to stand up on their own as a business owner. Great franchisees are self-motivated and are able to lead a team successfully. The military teach, foster and encourage these traits, traits that franchisors look for in potential franchisees. While veterans make up approximately seven percent of the U.S. population, they make up around 14 percent of all franchise owners. According to the U.S. Small Business Administration (SBA), roughly one quarter of all veterans are interested in getting into business for themselves. Franchising the Ideal Choice for Veterans...
Read MoreThe Great Resignation & Franchising
A phenomenon emerging out of the Covid-19 Pandemic, The Great Resignation is leading to great things for the franchising industry. What is it and why is it good for franchising? What is The Great Resignation? The Great Resignation is an economic trend, predominantly in the United States, but also taking effect around the world, where a increased number of employees have resigned from their employment positions. The phrase The Great Resignation was first coined by Professor Anthony Klotz from Mays Business School at Texas A&M University. Professor Klotz predicted the mass resignation within the employment industry in May 2021. Covid-19 and The Great Resignation During March and April 2020, the beginning of the Pandemic, a record number of people lost their jobs. March saw 13 million and April saw 9.3 million employees find themselves without a job. While this was no surprise to economists, due to the chaos that Covid-19...
Read MoreYour 2022 New Year’s Resolution – Own a Franchise Business
Owning a franchise is one of the best ways to get into business for yourself. And there’s no better time than now to make your entrepreneurial dream a reality. What is a Franchise? As defined by the International Franchise Association, a franchise is “a method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor’s name and system.” Franchising is a very successful business model that, while early franchise models date back hundreds of years, made a name for itself during the 1960s and 1970s. And since then, it has continued to go from strength to strength. Why Buy a Franchise? According to franchise expert Derek Cafferata, President and CEO of All State Franchise Finders, “The biggest advantage to...
Read MoreThe Best Franchise Businesses of 2021
Despite a tumultuous year, franchising continues to show stability and growth. We share a few of the best franchise businesses of 2021, and some insights into what 2022 holds for franchising. A franchise is a business model where a business owner, or franchisee, pays to use a company’s brand and products to run their own business. The franchisor is head of the overall company’s branding, systems and development, and the franchisee runs their particular franchise unit within set boundaries and guidelines set out by the franchisor in the Franchise Disclosure Document (FDD). Owning a franchise business has many advantages. Being a franchisor is like being in business for yourself, without being in business by yourself. While there are literally thousands of franchises within the United States, we have chosen to share the top 10 rankings for 2021 as set out by Entrepreneur Magazine. The Top Franchise Rankings Each year franchises...
Read MoreFinancing Your Own Franchise Business
Buying a franchise can be a realistic dream for many and it is important to understand the importance of financing your own franchise. To give yourself the best opportunity of success in business, it is important to have a clear understanding of your financial position before launching in to purchase your new franchise. With enough savings and a handle on your net worth, financing that dream franchise may be within your reach. Associated Costs of Buying a Franchise Start-up costs are associated with any franchise you might buy. These include franchise fees, fit-out of a premises and/or equipment, training costs, insurances and legal and accounting costs. Buying a franchise can range significantly, anywhere from under $50,000 up to $2 million plus. On average, the initial franchise fee is usually somewhere between $10,000 and $50,000. However, if it is a requirement to purchase real estate as opposed to leasing real estate,...
Read MoreALLSTATEFF Receive Top M&A Award 2021
Franchise experts All State Franchise Finders is excited to have received top M&A Award Best Franchise Investment and Re-Sales Consultancy in the US for 2021. Best Franchise Investment & Re-Sales Consultancy in the US All State Franchise Finders are excited to have been awarded Best Franchise Investment and Re-Sales Consultancy in the US for 2021. Having been nominated along with many other high-profile companies, All State Franchise Finders was chosen by an independent panel of five international business academic and training leaders to receive the accolade. Throughout the nomination process, All State Franchise Finders was, along with other nominees, assessed based on their high achievements over the past year of providing exceptional quality of service and skills. All State Franchise Finders showed time and again a strong commitment to working tirelessly throughout every stage of the merger process, navigating parties through to a successful transaction completion for all involved. The...
Read MoreKey Aspects of the Franchise Disclosure Document
The most important document of any franchise, the FDD is set out to protect both parties right from the start and long into the future. So, what do you need to know when it comes to the FDD? What is a Franchise Disclosure Document? The Franchise Disclosure Document (FDD) is an in-depth document that discloses all the important aspects of a business. It is a legal document that all potential franchisees must read and sign. Because it is part of the pre-sale disclosure process that all franchisors are required to present to every potential franchisee, franchisees will usually sign a non-disclosure agreement prior to being given the FDD. This is because the FDD discloses very pertinent information that allows potential franchisees to weigh up the risks and benefits of buying into the franchise. Before it was reviewed by the Federal Trade Commission in 2007, the FDD was referred to as...
Read MoreTop Expert Tips for Young Franchisors
An increasing number of young people are moving into the world of franchising in a strong way. Franchise expert Derek Cafferata shares some top expert tips for these young twenty-something business-savvy entrepreneurs. Franchising isn’t just for the seasoned entrepreneur. More and more young franchisors are moving into the industry and we’re seeing some exciting things happening with energetic, focussed, business-savvy twenty-somethings leading the way in the franchising world. Learn the Ins-and-Outs of Franchising In the United States, franchising is a $787 billion industry employing over 8.4 million people. As a franchisor, you are part of a giant business machine, a network of smaller networks. Franchise expert Derek Cafferata, CEO and President of All State Franchise Finders is always keen to advise any young entrepreneur to learn about the franchise business model. “Franchising is an art,” says Derek. “I encourage all young entrepreneurs to take every opportunity to learn about franchising...
Read MoreLeadership – The Important Element in Franchising
If there’s one important element in franchising, it’s leadership. Strong leadership builds strong franchisees, which builds a strong brand. Franchise expert Derek Cafferata shares his tips on leadership. Open Communication Open communication between franchisor and franchisee is one of the most important requirements of good leadership. Open communication instils into your franchisees confidence in the plan and future of the business. Effective communication creates the necessary ongoing support for franchisees to develop and grow their unit. Effective open communication between franchisor and franchisee happens on various levels. A great franchisor will communicate with franchisees at a corporate networking level, right down to a one-on-one level. “Particularly in these recent times of the Covid-19 pandemic, franchisors are finding more ways to communicate with their franchisees,” says Derek Cafferata, CEO and President of franchise experts All State Franchise Finders. “Online Zoom network meetings, local area meetings, one-on-one video calls and webinars are...
Read MoreThe Business of Franchising
The franchise business model is a hugely successful way to do business. Here, franchise expert Derek Cafferata gives us an overview of the business of franchising. The Franchise Business Model Franchising is a way for a business owner (a franchisor) to grow his or her business by recruiting others (a franchisee) to open other locations. By replicating the business, with products, services, branding, marketing and systems, a business owner can expand the business without having to do all the work by him- or herself. Others are responsible for owning and operating an individual franchise unit. The benefits of franchising are two-fold. For the franchisor, it is a great way to grow and expand your business. For the franchisee, it is a great way to own your own business without starting from scratch. As franchise expert Derek Cafferata, CEO and President of All State Franchise Finders says, “Franchising is best described...
Read MoreFranchising in Business – Online Franchising
In this business climate online franchising is stepping into a vital role and filling a gap in the market, and it is definitely here to stay. What is Online Franchising? An online franchise is one that gathers their customers and sales through the internet. While an online franchise does not require a store-front, it may require a brick-and-mortar location depending on the size and type of the online franchise. Some online franchises, for example those that sell their services, do not need a location and can be run from wherever the owner wishes. Other online franchises may need a location to store product or a space to make or package goods sold. Either way, an online franchise focuses on generating all their sales through online advertising and social media marketing. Covid-19 and Online Shopping It’s not surprising that the popularity of online franchising has increased significantly over the past 18...
Read MoreThe Olympics and Fitness Franchise Opportunities
Fitness franchises are a popular option for many entrepreneurs. It’s the forward-thinking franchises taking advantage of the popularity and anticipation of the Olympics to generate business. The Future of Fitness for 2021 In the five years leading up to 2020, the fitness franchise industry was a strong industry, with steady and significant growth. Enter 2020 and the difficult year that was due to COVID-19 and the fitness industry experienced some difficulty. However, despite lockdowns and closures, many fitness franchises adapted to necessary changes, finding innovative ways to reach their customers, who became even more interested in their personal health and fitness during those changing times. There are currently a little over 500 different fitness franchises in the United States, with more than 8,500 locations, employing over 57,000 people. The outlook for fitness franchising opportunities for the coming future looks positive according to experts. “Shutdown and isolation have shown how important...
Read MoreFranchising in Business – July 2021
How does franchising stand up in the U.S. in today’s climate? Here’s some interesting franchising statistics to think about. Franchising has a long history, with the origins of franchising dating back to the early 1700s when Benjamin Franklin and Thomas Whitmarsh sent their printing press business across the United States and around the world. Move forward to the late 1800s and Henry Ford began mass-producing motor vehicles. However, it was in the 1960s that franchising really took off. Richard and Maurice McDonald opened the first McDonald’s restaurant in 1940 and began opening franchises during the 1950s when Ray Kroc joined the business as a franchise agent. But it was during the 1960s that McDonald’s gained significant momentum as it successfully opened location after location, working its way across the United States. Going Big in Franchising Talking about going big in franchising, McDonald’s is considered the most iconic franchise example around...
Read MoreFranchising and the LGBTQ Community
June is Pride Month and it’s exciting to see what is happening amongst the entrepreneurial LGBTQ community and the franchising industry. June Pride Month June is Pride Month in honour of the 1969 Stonewell uprising in Manhattan and it is a way for communities around the world to recognize the impact the LGBTQ community has locally, nationally and internationally. The LGBTQ community have, for a long time now, positively contributed to business in many areas. Entrepreneurs within the LGBTQ community have worked hard to establish a number of organizations to help facilitate diversity and inclusivity in business, especially within the franchising industry. Franchising Pride Council Through the efforts of the International Franchise Association working closely with LGBTQ leaders, the Franchising Pride Council was established in 2019. The aim of the Franchising Pride Council is to support diversity and inclusiveness within all areas of franchising, from franchisors to franchisees to employees....
Read MoreFranchising in Business – June 2021
Ever thought of turning your business into a franchise? Franchise expert Derek Cafferata shares 3 inside tips to turning your dream into success. Franchising is when you take a business brand and model, with established systems and strategies, and replicate it across different locations. The franchise business model is attractive to entrepreneurs and business owners for a vast range of reasons, including less risk, a greater level of support and a tried and tested business with an established market presence and working systems. Going from being a business owner to a franchisor is a very big step. It looks like an attractive option that offers huge financial potential, which it does. However, it is a process that should not be rushed and needs to be carefully thought through and researched. Derek Cafferata, CEO and President of franchise experts All State Franchisers, located in Fort Worth, TX, has more than 30...
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