How To Own A Franchise: What Training Do You Need?

Your transition into franchise ownership doesn’t have to a trial-by-fire endeavor. As with any new position, you’ll require training to help you take on the many roles that franchise owners play.

One of the greatest benefits of owning a franchise is that you have access to a proven method for running your business. But, when starting your own company, it’s common to struggle with working everything out, from knowing what inventory software to use to connecting with vendors to understanding the intricacies of the sales process.

So, let’s explore the various types of franchise training you should expect to receive after making an investment, and uncover the sources of training that every franchise owner should take advantage of.

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Topics: owning a franchise, franchise training, choosing the right franchise, franchise owner

All Health & Wellness Franchisees Should Have These Traits

If you’re interested in a health and wellness franchise, there’s no better time to invest. Right now, it’s a $112 billion industry and growing. There’s a lot of opportunity for success if you think this might be the right kind of franchise for you.

But, how do you know if health and wellness is really an industry you want to commit to over the long term? Consider the industry, the customers and the products before you take the franchise ownership leap.

To truly be successful in owning a franchise, you must find one that you care about. Explore the mindset you should possess in order to become a profitable health and wellness franchise owner.

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Topics: franchise ownership, owning a franchise, buying a franchise, health and wellness franchise

5 Secrets To Starting A High-Profit-Margin Franchise

Failure is the biggest risk involved in owning a franchise, and there are many reasons why it happens – from not attracting enough clients to choosing the wrong location. One particularly common cause for franchise businesses to close their doors is poor franchise management.

Many new franchise owners don’t know what they’re getting into. They aren’t equipped to be effective managers, or they overlook some of the aspects of franchise ownership that have the biggest impact on success.

Mitigate the risk of franchise failure by understanding some of the necessary actions for ensuring success. Explore these five secrets to managing a franchise.

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Topics: owning a franchise, franchise owner, franchise management

4 Aspects Of Effective Franchise Training To Make You A Better Manager

When making the decision to become a franchise owner, there are few things more important to consider than the relationship with your franchisor.

Let’s be honest, choosing the right franchise is about a lot more than simply finding a product you’re interested in or selecting an investment that fits your budget. The franchise relationship with your corporate partner could make or break your franchise experience and affect the success you hope to achieve.

With a supportive partner, you benefit immensely from the tools and knowledge they bring to the table. Use the following characteristics as a basis for identifying a truly beneficial franchise relationship.

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Topics: franchise ownership, owning a franchise, buying a franchise, choosing the right franchise, franchise relationships

Why Franchises Make The Most Profitable Small Businesses

Successful franchises help many people achieve their version of the American dream:

You invest in an idea that you believe in and take charge of your career path. You build something profitable based on what you know works. You see quick economic growth after putting in hard work.

In fact, independently owned franchises are growing faster than other businesses. They are creating more jobs and producing more sales.

2015 is one in a succession of promising years for people interested in buying a franchise. Statistics show that franchise opportunities are a driving force of economic expansion.

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Topics: owning a franchise, buying a franchise, successful franchises

Need Self-Employment Ideas? Look For Franchise Investment Opportunities

If you have lost a corporate job, have been the victim of downsizing or are currently underemployed, it’s important to know that the corporate lifestyle is not your only option. Franchise opportunities are on the rise for corporate refugees.

One of the key questions facing this group of people is whether it’s better to have a job or to buy a franchise. After all, there are pros and cons to each option.

In 2015, for example, the unemployment rate fell in every state for the first time in 30 years. These lower unemployment rates have given way to numerous job opportunities.

On the other hand, the typical nine-to-five corporate gig is not for everyone. Many people seek more of a work-life balance and greater control over their careers. If you fall under this category, it may be time to change direction.

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Topics: work life balance, owning a franchise, buying a franchise, corporate refugee

How To Tell If Franchise Investment Is The Profitable Move For You

Starting a second career is serious business.

The fear of leaving a lucrative profession and the uncertainty about what the next chapter holds is a lot to cope with.

There are business endeavors that come packaged with the support network to manage the early days of building the business, and franchise opportunities fall into this category.

While there are many advantages to buying and owning a franchise, it’s important for you to receive an accurate picture before jumping into anything.

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Topics: work life balance, owning a franchise, buying a franchise, choosing the right franchise, franchise decision factors

Why Are Entrepreneurs Turning To Franchises For High RIOs?

Today’s working professionals are strikingly different from those of yesterday. They are no longer staying at one company or working within a single field for an entire career. They seek second-career options that exhibit the entrepreneurial nature normally associated with starting a small business.

But, at what point in your working life is starting your own business a good idea – especially if you’re raising a family and trying to maintain a satisfying work-life balance?

Here emerges the New Entrepreneur, who seeks not to begin, build and sustain a business, but rather to balance chasing an entrepreneurial vision with obtaining a career that’s more accommodating of a healthier life. 

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Topics: franchise ownership, work life balance, starting your own business, second career option, the new entrepreneur, owning a franchise, buying a franchise

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