Franchise Opportunity
Search Franchise
Search Franchise
Franchise Industry News
The Importance of Royalties for a Successful Franchise Business
Royalties should never discourage you from getting into franchising. Derek Cafferata explains the importance of royalties for a successful franchise business. What are Royalty Fees? Royalty fees are paid by a franchisee to the franchisor to the continuous use of the franchise brand and business model. This fee is usually paid regularly on a monthly basis for as long as the franchisee is in business. The royalty fee a franchisee pays to the franchisor benefits both parties involved. For the franchisor, the royalty fee enables success of the overall brand, something each franchisee reaps the benefit of. A successful franchisor makes for successful franchisees, and successful franchisees make for a successful franchisor. “The relationship between franchisee and franchisor should always be mutually beneficial in order to create and foster a successful business relationship,” says Derek Cafferata, CEO and President of All State Franchise Finders, one of the country’s leading franchise...
Read MoreWomen Make for Powerful Business Owners
The number of women in business is on the rise and the unique traits of women make for very powerful business owners. The future of business lies with confidently with female entrepreneurs. Women in Business Statistics from a study by JPMorgan Chase and Co. show that 36 percent of small businesses throughout the United States are owned by women, a figure that has continued to steadily grow each year over the past 5 decades. In the world of franchising, approximately 27 percent of franchise businesses are owned by women. Between 2007 and 2018, female-owned businesses grew 58 percent, with these companies generating more than $3 trillion in annual revenue. When compared to the average small business owner, female business owners in the U.S. are more likely to be younger, aged between 40 to 55 years of age, with 50 percent of female entrepreneurs in the Generation X demographic...
Read MoreBlack Lives Matter – Empowerment through Business Ownership
With momentum gaining through the Black Lives Matter movement, franchising is helping to empower minority groups through business ownership. Diversity in Business According to the latest Census, there are approximately 2.6 million black-owned businesses in the United States, an increase of more than 34 percent since 2007. Numerous Government initiatives, tax reforms and economic growth over the last few years has helped fuel this increase, along with the push in society for increased diversity and inclusivity in business. Research carried out by Guidant Financial found some very positive and exciting statistics on African-American businesses across the country. Of the more than 3,000 black business owners who took part in the research, 49 percent considered themselves to be “very happy” in business, while 72 percent said that their businesses were currently profitable. One-third of those who took part in the research declared they were “very confident” about small business...
Read MoreSenior Franchise Opportunities – The Need for At Home Care
An ever-increasing ageing population means there is a greater need for at-home care services. And franchising is stepping in to fill the demand. Ageing Population Fuelling Need for At-Home Care As the huge baby boomer population ages, the demand for aged care services is continually increasing. The majority of baby boomers, generally defined as those born between 1946 and 1964, are now into their 60s and 70s and well within the retirement age bracket. With the number of retirees expected to reach more than 54 million over the next few years, this age group is predicted to make up around 20 percent of the entire U.S. population, the single largest age demographic in the United States. “Never before have we seen a need for aged care service like we are experiencing now,” says Derek Cafferata, CEO and President of franchise experts All State Franchise Finders. “And the only realistic...
Read MoreVeteran Franchise Opportunities – Why Companies Want You!
Leadership skills, determination & drive are skills veterans bring to the business world. Franchise expert Derek Cafferata explains why franchises are keen to recruit veterans. Why Veterans Make Great Franchisees Some of the most beneficial skills veterans learn is to both lead and follow. Each soldier understands the importance of hierarchy and following orders. Without the ability to follow orders, one solider may put an entire squad at risk. Veterans understand the importance of how following orders strengthens and unifies a team. At the same time, veterans are taught valuable leadership skills. Each soldier holds some responsibility within their squad, where he or she learns to manage people and situations. As veterans progress through the ranks, they take on greater responsibility and gain more leadership skills. It is this ability and understanding to both lead and follow that makes veterans ideal candidates for franchising. “A franchisee needs...
Read MoreGen Z Entrepreneurs Taking Educated Business Risks
The most entrepreneurial of any generation, Gen Z is confident, driven and adaptable. They aren’t just looking for business opportunities, they are creating them. Generation Z is those born between the mid-1990s and 2010 and are the next generation after Millennials. Often referred to as Gen Z, this generation was born into the digital age. They are familiar with computers, smartphones, social media and mobile digital devices. Much research around this generation shows that Generation Z is the most entrepreneurial of any previous generation. New Business the Norm Among Gen Z Starting their own business is something that most of the Gen Z population consider as a very reasonable and feasible career path. With this generation, working for a corporate as an employee is not the norm. “We saw this mindset with Generation Y,” says Derek Cafferata, CEO and President of franchise experts All State Franchisers. “But Gen Z’ers are...
Read MoreFranchise Resales: Benefits of Existing Franchises
When weighing up a new or existing franchise purchase, consider history, management and goodwill. Franchise expert Derek Cafferata shares his thoughts on franchise purchases. Sales and Profit History One of the greatest benefits of buying an existing franchise is the ability to see accurate sales and profit history on the business. There is no guessing how successfully, or unsuccessfully, the business has been performing. “The ability to analyse sales and profit history on a business offers a potential buyer peace of mind,” says Derek Cafferata, CEO and President of All State Franchise Finders. “Knowing the financial history of a business helps to predict its potential future.” An existing franchise also gives room for some possible negotiation on price. With a new franchise, purchase costs, setup fees and franchise fees are relatively set, with little room to move on price. The ability to analyze business performance may open up room for...
Read MoreInclusion and Diversity in Business: A Recipe for Success
Inclusion & diversity are not just feel-good marketing terms. Diversity businesses are on the rise & every business owner should understand the power behind diversity in business. Importance of Values in Business Values define what is important to us and how important they are. They help to guide and determine our actions and attitudes in order to outwork those values into our lives. In business, values play a vital role. They are more than just a list of ideals. A company’s values will define everyday business interactions and transactions, moulding and shaping the company’s structure, culture, drive and reputation. Setting the core values for a company will help clarify what that company believes to be important and this will influence how the company is governed, developed and managed. According to Derek Cafferata, CEO and President of franchise experts All State Franchise Finders, core values need to be...
Read MoreWant to Work from Home? Start a Business
Home-based franchises continue to grow in popularity because of their practicality, accessibility and affordability. Franchise expert Derek Cafferata shares about working from home. The Rise of Home-Based and Mobile Businesses Working from home is more common than you may think. According to the Small Business Administration (SBA), approximately 50 percent of all businesses are home-based. A home-based business is one that can be operated and administered from home. There is no need for a store front or commercial space in order for the business to function. Generally, home-based businesses are relatively small and have few or no employees. However, this is not always the case. Some work-from-home businesses are solely run from home, with no need for the business owner to venture away from the home office, such as Internet-based businesses. Others may involve providing services to customers or completing business activities outside the home office, but the administration of...
Read MoreJob Dissatisfaction? Start Your Own Business
About half the working force experience job dissatisfaction to some degree. The answer may just be in starting your own business. What is Job Dissatisfaction? Job dissatisfaction is not uncommon. In fact, about half the American workforce identify with experiencing dissatisfaction with their employment. Job dissatisfaction comes in various forms and to various degrees. It may be a particular aspect their job causing dissatisfaction or an overall general feeling of discontent. While job dissatisfaction may come about for many different reasons, including poor work conditions, pay levels, overwork or lack of recognition, the most common cause of job dissatisfaction arises when an employee feels they have little or no potential for growth. Signs of Job Dissatisfaction Some of the early signs of job dissatisfaction include distraction, boredom, low productivity, irritability at home and at work, a lack of effort in the role and arriving late to work. More serious signs...
Read MoreStarting Your Own Business: Steps to Success
Starting your own business is a big step for anyone who chooses the entrepreneurial road. Franchise expert Derek Cafferata shares some steps to success. Choosing the Right Concept Choosing the right concept when it comes to starting your own business is one of the most significant considerations to undertake. Is there a high demand for the particular product or service? Is the business concept sales or service-focused? Is it seasonal or subject to fluctuations? Does it require your full-time or part-time attention? Do you prefer to work in the daily running of the business or on developing and growing the business? There are many questions to ask about yourself, your financial position, your lifestyle, your experience, your goals and much more before choosing which business concept to invest in. “Sometimes the right concept isn’t the most obvious one,” says Derek Cafferata, CEO and President of franchise...
Read MoreStarting Your Own Business: The Right Concept
Starting your own business takes time, effort, energy, money, experience & dedication. Here are some tips from franchise expert, Derek Cafferata, on how to set yourself up for success. Play to Your Strengths When considering starting your own business, it helps to evaluate a few things first, like your personality, your financial, career and lifestyle goals, as well as your knowledge, experience and passion. “One of the first things to consider when wanting to start your own business is to play to your strengths,” says Derek Cafferata, CEO and President of franchise experts All State Franchise Finders. “This might be your industry experience, your passion that drives you or your knowledge in a particular field.” Derek is quick to point out that it isn’t just your personal or career experience that should be the only guiding factor when starting your own business. Some of the most successful small...
Read MoreSBA Loans for Small Business
For small business financing, an SBA loan offers many benefits. Here, franchise experts, All State Franchise Finders share a little about SBA loans. SBA Overview Small Business Administration (SBA) loans are one of the best ways for small businesses to gain funding. While the SBA doesn’t lend the finance directly themselves, they do guarantee the loan, meaning they are able to negotiate more flexible terms, better rates and different criteria with a wide range of lenders. With some of the lowest interest rates available, SBA loans are one of the smartest and most popular ways to finance a new business. Backed by the Federal Government, the SBA reduces the risk for lenders lending to small businesses that have low cashflow, little or no credit history and no proven track record. The reduced risk for lenders means easier access to capital for small businesses. Business owners can get up...
Read MoreCorona virus and the Impact to Small Business
Coronavirus is impacting small business in the U.S. & around the world. Franchise expert Derek Cafferata shares his thoughts on what might be in store for small business owners. Coronavirus: What We Know So Far The recent Coronavirus outbreak, now referred to as COVID-19, first originated in Wuhan, China in December 2019. It is yet unclear as to how the disease originated, but has been identified as being passed from person to person via airborne particles. Patients infected with COVID-19 usually present with flu-like symptoms of fever, cough and fatigue, as well as difficulty breathing. Currently, more than 100 countries, including the United States, have reported cases of the Coronavirus and, on 7 March 2020, the World Health Organization (WHO) confirmed there had been 100,000 reported cases globally. Information gathered so far seems to indicate that the vast majority of cases are mild, with serious illness occurring in...
Read MoreTop Brands in 2020
What Brands Aim to Achieve In the simplest of terms, if a brand can connect with its customers, and remain connect over a long time period, then it has achieved brand success. Companies need to achieve this customer connection in a few key ways. Most notably, they need to identify very clearly whether they are focused on meeting their customers’ needs or wants. Once this is identified, then then need to learn the habits of their customers and act accordingly. One of the biggest ways many businesses succeed with strong branding, according to Derek Cafferata, is when they meet their customers at the digital level. “Whether it is mobile accessibility, social interaction or fast and reliable connection, keeping up with the tech demands of their customers is where successful businesses get it right,” says Derek, CEO and President of franchise experts All State Franchise Finders. Brand Power...
Read More
