Posted by Daniel Cargille on April 12, 2011
It’s a sad statistic but approximately 40% of small business will fold within the first 5 years. The remaining 60% aren’t guaranteed at that point to stay open but they close or move for various reasons – often to change hands or be sold off. These statistics however show that there’s a good chance a business owner may fold if not properly prepared for launching and operating their businesses.
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Posted by Daniel Cargille on April 12, 2011
When you want to open a business, be it a self-made brand or a franchise, you need to set goals that are reachable. These goals will help you measure success and give you a clear plan of action toward a major end-goal. While operational goals alone are important, they will help you develop an exit strategy to leave the game behind someday. Goals ultimately help you understand why you’re in business and where you want to go so that if someone steps up to you tomorrow to ask you “why do you want to buy into a franchise” you know exactly how to respond.
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Posted by Daniel Cargille on April 12, 2011
A franchise isn’t just another job, or even another career. It’s a lifestyle that requires a great deal of devotion and time. Opening a franchise is never an easy decision and those who choose to change over to the life of an entrepreneur should recognize that a dramatic shift in their day to day routine is about to occur.
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Posted by Daniel Cargille on April 12, 2011
If you think all it takes is courage and resilience to launch a small business concept or to buy into a franchise then you’ve got some research to do and a bit of a reality check. It takes courage and a great deal more in order to pull a new franchise out of the red and into the black. So what does it take to get a business of the ground? A combination – like a sample platter – of luck, skill, perseverance, hard work and a lot of the right personality.
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Posted by Dwayne Nawrocki on November 12, 2010
You want to turn your business into a franchise but you’re unclear as to how. Here are a couple things to think about to help you out:
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Posted by Rybo Nelson on July 18, 2010
The practise of franchising is where you pay to use someone else’s already successful business model. They are most often seen in retail or fast food chains. The person will pay a set amount to buy the franchise then they run it as their own business. However you do not have complete control and do have to adhere to certain rules and regulations and follow the business model that has already been set in place. Therefore it is important to consider all the pros and cons of buying into a franchise before you make the commitment.
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