VetFran is a program that offers financial incentives to honorably discharged U.S. veterans. The official name is, Veterans Transition Franchise Initiative.
As a voluntary effort of the International Franchise Association (IFA) and its member companies, the VetFran program provides direction and assistance to veterans.…
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The 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.
As you know the more people who are unemployed due to…
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The 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…
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The growth of franchising 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…
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The following benefits provide a good rationale for starting a business by purchasing a franchise. These must be balanced by the costs or disadvantages.
Lower Risks. Most business experts agree that a franchise operation has a lower risk of failure than an independent business. The statistics on this…
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• Franchise businesses account for nearly 50% of all retail sales in the United States.
• Franchise businesses employ more than 14 million Americans
• There are an estimated 5,000 franchise companies operating in the U.S. doing business through nearly 500,000 retail outlets.
•…
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In a sense, franchising is a 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…
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In response to changes in technology and market conditions, after 12 years of rulemaking 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…
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Most 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 industry.
Essentially franchising is a very specific method or way…
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