Funding Options for Franchise Purchases
Thursday, November 13, 2008The daily economic data and headlines are scaring people into a "wait and see" mode. Unless you live in a cave, you are aware of what has transpired and this is having an impact on business development. Read More
SBA 7(a) Loans for Franchises: Goodwill and Intangible Assets
Thursday, August 28, 2008New guidance issued by the Small Business Administration (SBA) will loosen the limits of the 7(a) loans ability to finance goodwill (intangible assets) in franchise business purchases with changes in ownership. Read More
Franchising and McDonalds
Monday, August 11, 2008Most often in the United States, when the topic of Franchising is brought up, McDonald's, the most-recognized name in franchising, is mentioned. Why is this? Let's first talk about what franchising is and then how McDonald's shaped the franchise business industry. Read More
Federal Franchise Sales Law Updated
Monday, August 11, 2008In response to changes in technology and market conditions, after 12 years of rule making proceedings on January 22, 2007 the Federal Trade Commission approved (by a 5-0 vote) a substantially revised FTC Franchise Rule (16 C.F.R. Part 436), our only federal franchise sales regulation. This regulation (the "New Rule") has been significantly modernized for the first time since October 1978 (the "Old Rule"). In support of the New Rule, the FTC published a Statement of Basis and Purpose. It sets forth the agency's rationale for many rule changes and provides detailed explanations of the New Rule's requirements. The New Rule becomes effective on July 1, 2007, when franchisors may (but need not) provide prospects with franchise disclosures in accordance with its terms. Compliance is mandatory on July 1, 2008. Read More
Benefits of Franchises
Monday, August 11, 2008The following benefits provide a good rationale for going into business by purchasing a franchise business. These must be balanced by the costs or disadvantages. Read More
The Future of Franchising
Monday, August 11, 2008The growth of the franchise business is inevitable, because of the inescapable logic of the underlying concept. Franchising clearly offers aspiring, new business owners the best possible chance of succeeding with the least risk. Within a decade or less, franchising will comprise over 50% of the retail economy, will employ millions of people, and will enable hundreds of thousands to realize the American dream of successful business ownership. Read More
Brief History of Franchising
Monday, August 11, 2008The word Franchise comes from old French meaning privilege or freedom. In the middle ages a franchise was a privilege or a right. In those days, the local sovereign or lord would grant the right to hold markets or fairs, to operate the local ferry or to hunt on his land. This concept extended to the Kings granting a franchise for all manner of commercial activities such as building roads and the brewing of ale. In essence the king was giving someone the right to a monopoly for a certain type of commercial activity. Over time the regulations governing franchises became a part of European Common Law.
Over the centuries the franchising concept has evolved as the economies of the nations of the world have evolved. In the 1840’s in Germany certain major ale brewers granted franchises to certain taverns, giving those taverns the exclusive right to sell their ale. This was the beginning of the concept of franchising as we know it today. Read More
Franchise Statistics
Monday, August 11, 2008Franchise Statistics Read More
Minimize Risk: Franchise Fundamental
Monday, August 11, 2008In a sense, the franchise business model whose primary purpose is risk minimization. Every study ever done on the success rate of new (non-franchise) business startups concludes the same thing. Starting up a new non-franchised business has a much higher failure rate than starting a franchised business. The primary reason that the failure rate is so high is because the owners have to go through the learning curve of operating that specific type business. Read More
Questions to ask Current Franchisees
Monday, July 28, 2008When you begin your franchise due diligence process of determining whether a particular franchise is right for you, you will need to contact current and past franchise business owners. This part of the process is referred as validation. During validation you speak with the owners and get their perspective. Read More
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