A franchise fee is the upfront fee that a franchisee must pay to the franchisor to use their brand, trademarks, and business systems. For the franchisor, this fee covers their responsibilities and business needs on their side. This can include the commission to a franchise sales rep, marketing about their opportunities, and keeping a support team and back office running. …

Franchising is a popular way for many people to start their own business, offering many benefits over starting their own business outright. But how does a franchise work? Here we’ll take a look at the whole process of how a franchise works and what any potential franchisee needs to know before they start out. How a Franchise Works 1. An …

Veteran Franchise Owners Veteran business owners play a huge role in the US economy, especially in terms of small business ownership. Veteran-owned companies make up 9% of all companies in the US, contributing over $1 trillion to GDP and employing over 5 million people. Veterans have shown great adaptability in transitioning to the world of business after their service. This …

Starting any business requires a significant amount of up-front funding as well as working capital to at least see you through the early stages of building the business. The same goes for starting a franchise, with some of these initial costs being even clearer, such as the cost of buying a franchise and franchise fees on top of the inventory …

A franchise agreement sees a person start a business that is basically a copy of an existing business. However, there are many more elements involved and differences from how one franchisor operates compared to the next. Franchising is a popular way for many to start their own business, and franchises are also a significant element of the US economy, employing …

Franchising can be the perfect business model to give you financial independence and full control over your calendar. However, nothing in life or business is ever certain, and new operations are more likely to fail for a number of reasons. According to the US Bureau of Labor Statistics, 45% of new small businesses have failed after five years. The statistics …

Becoming a franchisee can be one of the best decisions you ever make, giving you complete control over your own schedule, rewarding you for your hard work, and giving you a clear path for the rest of your career. Yet, despite the potential for significant improvements in both income and work-life balance, taking on your first franchise business is still …

Like anything else in life, franchises come with both upsides and downsides. That’s why we recommend that anyone interested in opening a small business should carefully consider the pros and cons of franchising. This helps potential franchise owners know exactly what to expect before they get started with the process of opening a franchise because the last thing you want …