Wondering how a franchise works? It's important to understand the difference between a franchisor and franchisee, and how the franchise relationship works. FRANCHISING 101 People have a lot of misconceptions about what makes a franchisor, but in essence, they are the...
A turnkey franchise that’s ready for immediate use sounds like a great opportunity, but is it right for you? Here’s what to look for — and what to avoid. WHAT IS A TURNKEY BUSINESS? In terms of franchising, a turnkey package is set up to include everything an owner...
Owning a franchise is a great investment strategy, but most are incredibly time-consuming. Here’s how to own a franchise that you can run in your spare time. Buying a franchise doesn’t have to mean making a full-time commitment....
Beauty professionals choose to partner with salon suites so they can independently grow their own businesses. Here’s how to create a salon suite they’ll love. GETTING PEOPLE BACK TO WORK Salon suites have been on the rise for the past several years, and they are...
MY SALON Suites is a business opportunity for entrepreneurs who want to help other entrepreneurs — in a resilient and recession-proof industry. The beauty industry changes with the trends and styles of the day, but its success remains constant. More and more beauty...
As you consider owning a franchise, you may want to look beneath the surface. You dine in fast-food restaurants, you shop at big-box retailers, and you may get your hair cut at a salon franchise. But what makes these businesses operate? Think about the businesses that...
The ROI of a franchise usually ranges between 25 to 50 percent. Here’s what to look for in a franchise opportunity that will produce a lucrative return on investment. GET INFORMED It’s reasonable to assume that a franchise investment should provide a return for both...
Perhaps the greatest benefit of becoming a franchisee is the franchise training and support to which entrepreneurs are entitled; and the reassurance that comes from a partnership with a proven business model. As a franchisee, you don’t have to go at it alone. To be...
The initial costs of opening a business can range from tens of thousands to hundreds of thousands or more than a million dollars, depending on the opportunity. Entrepreneurs can experience sticker shock as they add up their estimated expenses and prepare a budget. But...
A “commercial buildout” is the real estate term for renovating an office space to fit a business’s needs and individual style. A nail salon, for example, will have different construction and equipment needs than a coffee shop; but theoretically, each business could...