franchisors

The universe of franchise opportunities is never-ending; continuous growth has been the trend in the past and foreseeable future. More new brands are always coming online every month, every quarter, every year. It’s fabulous! And can be overwhelming!

Along with this continued growth in franchising, many entrepreneurial individuals are investigating those opportunities and looking to expand their ownership opportunities with new franchises. There is a growing segment of professionals in the industry helping people find the right match; they are typically called franchise consultants or brokers - I call them matchmakers.

In this blog, I'll get back to the basics and define the roles and responsibilities of the franchisor and the franchisee within the franchising system. We'll cover the franchisor's role in providing a proven business model as well as the franchisee's part in operating their business under an established brand and how they work together in the world of franchising.

Are you an entrepreneur with a business you are ready to expand? Looking for different strategies and approaches that might be worth consideration. Have you thought about franchising?

Hard Conversations & The Value of Real Advice

I’ve talked a lot about the benefits of setting up a board of advisors for a business. As I mentioned last month, I believe it provides the life jacket your business needs to be successful! 

Now that summer is upon us, I’ve been spending more time on boats and around the water. Here in Minnesota (as in most places), we’re required to have life preservers on board to comply with the state’s boating laws. Not only does everyone need access to a wearable life jacket of their own, but the boat must have a throwable life preserver in a location that is easy to access in an emergency. This means it can’t be tucked away in a cabinet somewhere, but must be out in the open where it can be grabbed at a moment’s notice.

When was the last time you had a problem - but you didn’t know who to talk to about it? Sometimes things come up - BIG things - that weigh heavy, but you don’t know who to turn to for advice. 

Are you doing everything you can to avoid failure in building your franchise system? 

Looking back on my decades of experience in the franchise industry, I believe there is one thing that contributed to my success more than anything else: my participation in a business owners’ mastermind group.

My mother, Flo Francis, passed away last month in December 2021 after a long battle with ovarian cancer. She was a wonderful woman who did a lot with her life - and who experienced a tremendous amount of success in her 85 years.