Even if you have all of the required start-up capital sitting in your bank
account, and even if you have mentally prepared to invest a considerable sum
into a franchise, you may be wary of risking your very bottom dollar for the
new venture. There are alternatives, including raising debt or equity funding,
but both of these options come with a set of benefits and drawbacks that
you'll need to weigh carefully before committing to any particular path.
Facts that have been considered relevant to whether a franchisor might be
exposed to vicarious liability regarding the conduct of its franchisees
include:
Franchise merger and acquisition
talks always start with the best of intentions. After all, a well-executed
franchise system merger can lead to enhanced scale (for increased buying power
and leverage over suppliers), reduction of overhead and operating costs
(through elimination of duplicate staff, departments, and locations), and
increased revenue (through cross-selling of products or services, optimization
of distribution channels, and bolstered brand recognition and standing in the
eyes of prospective franchisees).
Whenever we have a tough decision to make, we always look at our value
statement and then make our decision. Every member of our team makes a point
to follow our code of values in everything they do, whether they are
scheduling appointments or in the field cleaning carpets. Our code of values
is to be F.R.E.S.H.
80% of business owners fail because they don’t have the skill set, education, orexperience to run a successful business. DetailXPerts provides franchisees with thetraining, support, and marketing that they need to start and run a successful business. As the first franchise to implement this type of car wash concept, we’ve spent a greatdeal of money and time developing this system and are confident that our efforts will lead to further growth in our franchise.
The first thing to keep in mind when selecting a trademark is that not all
words and names are capable of being protected as trademarks. No one business
owner can claim exclusive rights in generic terms and logos, because all
business owners need to be able to use these in order to identify their goods
or services. Thus, a residential painting franchise likely could not claim
exclusive rights in the name “Painting Pros”, because this is simply a generic
description of the services that the business offers.
In line with my 3-Ts (Train, Transfer or Terminate) philosophy, let me outline
what I feel are some of the key things a prudent manager / leader needs to do
to try to turn this sort of worker around.