Are you interested in starting a new franchise? This blog post will discuss 7 initial steps to franchising your business.
Step 1: Decide if franchising is right for you. Franchising is not something to take lightly. It is a significant commitment, not only in terms of time but also the financial investment required to start
[Announcing]: A long awaited Steak-N-Shake is anticipated to open in West Des Moines this coming January 2021. A couple of years ago in a Des Moines Register poll, Steak-N-Shake was one of the most desired businesses for the Des Moines area.
Delayed for more than a year, West Des Moines Steak-N-Shake to Open
Whether your are a prospective franchisee yourself, or a franchisor searching for the right franchisees, it is important to know what makes a franchisee successful. Because in actuality there are always top, average and poor performers in EVERY franchise. Franchisors will see a wide-spectrum of results. This blog post examines 5 traits I have noticed
Recently I had a conversation with a very successful small business owner I have known for a long time that really shook me. I learned his sales are now down 80% during the latest surge of the pandemic . He said,
The virus is killing us. People are scared.
Meanwhile, Amazon’s sales increased 40 percent
The Complete Introduction to Franchising and Franchise Ownership [With Updates] – Joel Libava, The Franchise King
Because if you’re going to invest in a franchise, it’s crucial for you to get a complete understanding of the business of franchising. You need to understand how
You have built a successful business and perhaps even have multiple business locations that are thriving. Out of the blue someone says, “You should franchise!” And the wheels start turning from there. You learn about the expected investment, hire a franchise attorney and complete your Franchise Disclosure Document (an over simplification for the purposes of
How do you invest in a franchise successfully? The Franchise King, Joel Libava, has an excellent post with a Powerful 10-Step Checklist to Use Before you Buy the Franchise of Your Dreams. I love posts like the one Joel has written. His post has honest, straight-forward advice every person investing in a franchise should
2020 has been tough. And with the pandemic continuing, unfortunately it does not appear the challenges will end for franchise businesses any time soon. Governors around the country, including Iowa, are issuing new shutdown orders. What are key considerations for franchises as 2020 closes and we head into the new year:
Multiple unit franchising has the most risk but offers the most reward. In my experience, owning multiple franchise units allows you to harness the true power of franchising. The franchisees I see who are the most successful are all multi-unit owners. Substantial investment is required in order to purchase multiple units and should not be
This past week I had the opportunity to participate in the 43rd Annual Franchise Forum. As only one of two Iowa lawyers participating in this year’s Forum, it was an all virtual event for the first time in its history. The Forum is essentially the franchise lawyer bar association meeting. Every time I participate I
