Posts Tagged franchise
Franchise Financial Performance
Your status as either a potential purchaser or merely a curious member of the public partially determines the amount and quality of information you’ll be able to discover about the financial performance of a specific franchise. Potential purchasers are able to find out about a franchise’s financial performance via the Federal Trade Commission’s (FTC) Franchise and Business Opportunity Rule. Under the Franchise and Business Opportunity Rule, franchisors are required to make a series of detailed disclosures to potential purchasers, either in the Uniform Franchise Offering Circular (UFOC) form or in the form provided by the rule.
There are three basic parts in a UFOC:
Related posts
Franchise Brokers
People often ask me about franchise brokers. On the surface, the idea of a broker seems simple enough. Brokers put buyers and sellers together so whether a buyer or a seller, brokers would seem to be a very important component in the equation.The fact is, they get paid to put buyers and sellers together. After all, they need to get paid too.
Thus, by the pure nature of that relationship, they typically have a biased opinion. Odds are, they are representing a party that pays them upon procurement of a sale. So, let us look at this from both perspectives, the franchisor and prospective franchisee. For some franchisors – Brokers fill a void as a nice additional franchise sales outlet, but do not make the mistake in thinking that brokers are going to be your only source of sales for your expanding company.
Related posts
Franchising – Making The Choice
More and more individuals are taking charge of their health as they learn about the benefits of a regular fitness program. This change is not limited to one demographic group. As we know, aging baby boomers are concerned with staying healthy, physically fit, and living independently. People 55-years and older constitute 25% of the 6.1 million Americans who reported using services of a personal trainer in 2004.
There is also a significant increase in children’s utilization of personal training and fitness regimens as a growing number of parents become aware of the health risks of childhood obesity. In addition, children of all ages and fitness levels seek out the services of a personal trainer to get that extra edge in their particular sport, due to the competitiveness of youth athletics.
Related posts
Franchise Outlet Marketing and the Thickening of Clientele
Many franchisees want to expand their customer base and they have indeed, already marketed to everything within their franchise exclusive territory, and their trade zone. Still, they notice that there are outlying areas that are in no one’s official franchisee territory and they would like to draw some of those customers into their store. Whereas, this makes sense to get more customers, it really is far easier to increase the amount of customers coming into your store from areas that are closer to your store.
You will get more bang for your buck with your marketing and advertising than you will if you try to you spend money to draw customers from further distances. The goal is to thicken your customer base within your franchisee exclusive territory. To do this, you need to set up a referral program, and some form of discounts for your current solid and loyal customer base that refers new clientele to you. Perhaps give them coupons to give to friends where they can put their name on the back.
Related posts
A Day in the Life of a Rainbow Station Franchisee
Established in 1989, Rainbow Station is the brainchild of pediatric registered nurse, Gail Johnson. 5 months after opening, the facility had 100 CHILDREN enrolled; at the end of the following year, her FACULTY & STAFF had grown from 12 to 32 out of sheer necessity; in 1997, Gail was named Virginia’s “Small Business Person of the Year;” and by 1999, demand had become so great that she EXPANDED to 5 more LICENSED FACILITIES.
Though it doesn’t even begin to sum up all of what the business does, Rainbow Station is a FACILITY with 3 primary parts to the business: an accredited preschool, an accredited afterschool program, and an infirmary designed both for sick children of working parents and children who are chronically ill. It is those essential features that are the primary reasons that the business does so well. The accreditation of both the preschool and the SCHOOLAGE program set the entire company apart, because sadly, only 6% of all preschools in the United States are accredited by the National Academy of Early Childhood Programs. As well, virtually no one else has an on-site medical facility with specialized, pediatric nursing care. In every way, Rainbow Station is a children’s franchise in a class entirely of its own.
Related posts