Fans of the recently finished
series Friday Night Lights remember the show for its heartwarming depiction of
a small Texas town, Dillon, in love with its high school football program.
(For you non sports lovers, the series' name refers to the day and time
football games are typically contested at the high school level).
For new franchisors, standing out from the crowd can be a task of epic
proportions. Selecting a strong and memorable trademark is certainly an
important (indeed, critical) first step, but for the relatively unknown,
picking a trademark that is too abstract can occasionally be viewed as a step
in the wrong direction—you want to stand out, but you also want people to
actually know what you do or sell.
Starting your own business can
change your life in many ways for the better, but potentially also in some
ways for the worse. The lack of stability compared to a 9-to-5 job can lead
to new stresses, including those on your existing relationships. These are
five ways starting a new business can affect your marriage, or really, your
entire family.
Time is a precious commodity these days and although buying a franchise is a
time consuming process, there are ways to cut to the chase. Of course you
should do your due diligence, but first make sure you’re focused on viable
choices. Here are some tips to quickly identify the best franchise
opportunities for you so no time is wasted.
One of the most difficult tasks
faced by the leadership team of a growing franchisor is the development and
maintenance of an optimal capital structure and access to the resources that
the franchisor will need to stay strong and maintain its growth plans. Access
to affordable debt and equity capital continues to be a problem for the
growing franchisor even though franchising has matured as a viable method of
business growth.
Should I franchise my business?
Is it the right time? Is franchising the right growth vehicle for my business
model? Does franchising fit with my ambitions, tendencies, preferences and
general corporate culture?
Once upon a time, Americans had two options to alleviate their beef binging
desires: visit a fast food jointor go to a traditionalsit-down restaurant.
The former often offered sub-par meals, while the latter required too much of
a commitment of both time and money. The people demanded a happy medium,
where they could be chowing down on quality eats within minutes of ordering.
Politicians, academics, and corporate leaders alike love to proclaim that the
"dreams of the youth" will drive our country's economic future. It's a fine
sentiment, to be sure, but many of these same leaders, blind to the realities
of the modern American (and global) economy, seem to incorrectly believe that
these youthful dreams include following the increasingly unreliable path of
earlier generations. Get a clue!