2/16/2024

Building a Resilient Business with Payroll Vault: The Power of Recurring Revenue Streams

In the evolving franchising landscape, owning a business services brand with a recurring revenue model has emerged as a game-changing path to sustained success – and no one does it better than Payroll Vault.

06/27/22

How Franchise Suppliers Can Impact Franchise Growth

Suppliers provide a wide range of products and services to franchises. When chosen carefully, they can support smooth scaling and free up time for a franchisee to focus on more revenue-producing activities...

Picking a Winning Emerging Brand Is How You Get Rich in Franchising. Here's How to Spot One

Anyone who invests in a franchise business is hoping it will lead to riches. And it certainly can be, providing you pick the right franchise brand to partner with. No matter what concept you choose to franchise, the way you make money in franchising is to align with an emerging brand...

05/19/22

5 Effective Ways to Recruit New Franchisees

An essential part of running any franchise is ensuring that you have enough franchisees to replace the ones who decide to sell or give up their franchises. Recruiting new franchisees might seem like a daunting task, but following these five franchise marketing tips will help you make sure you’re doing it in the most effective way possible and that your franchise system doesn’t become vulnerable due to a lack of franchisees in the future...

9 Important KPIs for Health and Fitness Brands

Summer is approaching and gyms everywhere are packed with people getting ready to show off their hard work. According to research, if you are in the health and fitness industry, you have two important things on your mind: the success of your clients and the contribution you are making to your community. However, you cannot help your members or your community if you are not properly tracking the health of your own business...

01/13/22

1851 Franchise - Who Can Help You Franchise a Business?

It’s challenging enough to entrust financial advice to somebody for even a moderate investment; entrusting that advice for an endeavor like franchising is a completely different animal. Franchise owners commit a huge chunk of time and money to a business, and it’s best to depend on professional consultations when setting an investment plan in motion...

My SA - 6 Important Questions to Ask During the Franchise Validation Process

The validation process is a very important step in the investigation of franchise concepts. As a prospective franchisee who is interested in a particular concept, this is your opportunity to speak with representatives of the brand, as well as other franchisees in their system...

All Business - 12 Traits of Successful Franchise Business Owners

Owning your own franchise can be a life-changing experience. Not only does franchise business ownership allow you to be your own boss, but it can allow you to have a wonderful work-life balance. But the decision to become a franchise business owner shouldn’t be taken lightly, and it’s not for everyone...

12/09/21

1851 Franchise - Digital vs. Traditional: Where Should I Spend My Franchise Sales Budget?

While the traditional norms of franchising sales have been uprooted due to COVID-19, there may still be a market for old-school sales strategy. To say the franchising industry has taken a new shape in the last two years is a huge understatement. Traditional marketing strategy has been uprooted in favor of new innovative strategies, but even despite the changes COVID-19 has brought, many brands have found a means to utilize traditional sales strategies to their advantage...

FranchiseTimes - How Top Restaurant CFOs Handle Supply Chain, Labor, Inflation, and More

No matter how small your franchise is, customers will not be as open to taking price from chains or corporations as they are to independent mom and pop shops, said Kate Jaspon, Inspire Brands CFO at this year’s Restaurant Finance and Development Conference. Though prices have skyrocketed for many food items as supply chain challenges have plagued the industry recently, “you can’t put the same sign up” denoting such struggles, Jaspon candidly announced, or “it would blow up on social media"...

11/30/21

1851 Franchise - What Margins Are Typical for a Restaurant Franchise?

A restaurant franchise owner’s earnings potential will depend largely on the brand, but on average, restaurant franchise owners earn $82,000 per year, compared to $24,000 to $155,000 for a non-franchise restaurant owner...

11/17/21

1851 Franchise - Can You Get Wealthy Owning a Single Franchise Unit?

Revenue models are often more projectable for multi-unit owners, but single-unit ownership can still draw serious income. In April, 1851 Franchise conducted research showing that the salary range of a non-franchise restaurant owner can range from $24,000 to $155,000. This wide margin shows that different kinds of franchises are equipped to handle multi-unit ownership better than others, as a $155,000 salary suggests a business owner has to spend more time working. It also shows that a single unit can bring wealth for a lot of franchise owners. Not everybody needs to own multiple franchises to earn a six-figure salary...

1851 Franchise - What Is a Franchise Fee?

Franchise fees are normally accepted as a means to join into a franchise brand for business operations, and as a means for a franchisee to commit to their franchisor. A franchise fee is, most often, a one-time payment that a franchisor collects from a franchisee. These fees are often one of the final steps toward investing into a franchise brand – and they are often the final turning point for franchisors to hand over a franchise to a prospective franchisee...

Entrepreneur - 5 Sales and Marketing SaaS Solutions That Will Empower Franchise Owners

Franchise revenue and growth are alive and well, defying dire predictions that the pandemic would kill business growth. According to Statista, more than 760,000 unique franchise locations exist in the United States alone, generating more than $780 billion in economic output and employing 8 million people. The most popular of these franchise segments are quick-service restaurants, which generate $250 billion, and include brands such as McDonald’s, KFC, Burger King and Wendy's. Another highly popular segment is business services, which generate over $100 billion...

11/10/21

AllBusiness - Should I Franchise My Business?

Your business is running successfully and is being received well by all. Things are going so well you start to wonder whether you should franchise your business. Here, we will provide some information to help you make that decision in a well-informed, strategic way...

FranchiseTimes - Why Emerging Franchises Should Uphold Brand Standards 'At Any Cost'

Jersey Shore natives and longtime surfers Rob Giuliani and Abby Taylor founded acai and smoothie bowl concept Playa Bowls in 2014 with no intentions of franchising. “We thought we were sellouts if we started selling our brand to other people. We didn’t understand the true concept of franchising, and we kept saying no to it,” Giuliani admitted, until early 2016...

11/02/21

FranchiseWire - The Secret to Attracting Multi-Unit Franchisees

The first rule of thumb when marketing anything to anyone is to know your buyer. Just as franchise owners differ from start-up business owners, multi-unit franchisees are different than single-unit franchise owners. Those looking to invest in multi-unit franchises typically have more capital, more resources, they are less hands-on with daily operations within the franchise, and their future goals are likely on more expansion versus the specific growth of one location... 

StarTribune - Ask a Consultant: What's the Best Way to Get Financing for a Franchise?

New franchisees need to come up with about 30% cash. This leaves a 70% gap to be filled with bank financing or some other source...