If you are in the process of researching what franchise might be right for you and determining what investment you feel comfortable making, one of the first things you will need to determine is your overall net worth. Your net worth is a way to provide franchisors with a complete overview of your financial status, taking both your assets and liabilities into account to determine your financial health. Thankfully, you can determine your net worth with a few simple calculations to know where you stand. Read on →

You have probably heard a lot about leadership development, which typically focuses on reading books, listening to lectures and working on your strengths and weaknesses as you go along. All of these things are great actions to take to develop your leadership skills, but did you know that taking time for yourself can make you a better leader, too? How Hobbies Can Help Leadership Skills No matter what hobby you choose to hone in on, anything you do outside of work to recharge will help keep you both mentally and emotionally engaged when it is time to head back to the office. Read on →

If you are certain that you would like to be a business owner but you are not quite sure where to start, you have likely been considering both franchising and starting a business of your own. While both provide pros and cons that are worth mentioning, when it comes to making the best investment possible, a franchise is typically the better choice. Why to Invest in a Franchise Over Starting Your Own Business You will have immediate access to training and support. Read on →

When it comes to investing in a franchise, money is often the most prominent thing on potential franchisees’ minds. Because the overall cost of every franchise can vary quite a bit depending on many factors, asking the right questions of every franchisor you are considering is necessary to make sure you are fully aware of what your investment will look like. Questions to Ask Regarding Your Franchise Investment What is the total investment required for this franchise? Read on →

While being a franchise owner is about being your own boss (a huge perk), there is also a major leadership component to the role—which is why veterans often make such great franchisees. Veterans are no stranger to the things that make great leaders, as many have had to take on leadership roles themselves. However, we wanted to take a moment to put a few franchisee-specific leadership qualities into words so you can make sure you are taking the best approach possible to guiding your team. Read on →

Veterans have been investing in franchises in record-high amounts in recent years and for good reason. Franchising is a great career path for veterans—not only is there quite a bit of overlap with a military background, but you can find a like-minded support system to help you succeed. Here are some of the ways that franchising is a good fit for veterans: Franchise Operations Are Well-Defined A franchise system operates on procedures that are proven and time-tested by other franchisees in the field. Read on →

While an interview with your potential future franchisor might sound like an intimidating event, the franchise interview is one of the best tools possible for you to assess the opportunity at hand. Approach the interview with the franchisor as an opportunity for both of you to assess the fit of the franchise mutually instead of thinking of it as a traditional interview style. By preparing and understanding that the interview is for both of your benefits, you can relax and focus on giving the best answers possible to the questions you will likely be asked. Read on →

Finding the right fit is essential when you are looking to invest in a franchise, as it will be a partnership that you enter into and continue for many years to come. Choosing a franchise that has the right culture to help you thrive is key, but it can be difficult to determine exactly how to do this. While your conversations with current franchisees as well as your experience on Franchise Discovery Day will likely give you a gut feeling about whether you are compatible with the brand, it is also helpful to have some more quantifiable qualifiers to consider. Read on →

If you have been invited to a franchise discovery day, congratulations! Not every potential franchise owner makes it to a discovery day, and it is a fantastic learning opportunity as you pursue franchise ownership. You might feel unsure about what discovery day is or what you should ask, so if you’re trying to prepare, you’re in the right place! What Is Franchise Discovery Day? Franchise Discovery Day is a potential franchise owner’s chance to learn more about the franchise system during a face-to-face meeting, typically at the headquarters of the franchise. Read on →

If you are beginning to do your research on owning your own franchise, you have likely heard about the importance of the Franchise Disclosure Document in making your decision. While evaluating the franchise for fit, culture and opportunity are the most important things, the Disclosure Document can also provide more numbers and concrete information about the franchise in question. We’re here to give you an overview of one of the most talked-about sections of this document, Item 19, which details the financial performance of the franchise. Read on →