The first line of defense when problems arise, franchisor malpractice insurance is the cornerstone of a prudent risk management program. It’s coverage you hope you will never need, yet it is also the best way to ensure the franchisor’s long term financial success.
While “franchise diligence” creates additional burdens from the standpoint of buyers and sellers, if it’s done right, the result will be better outcomes that can drive future system-wide improvements.
A properly negotiated lease protects the franchised business, as well as the franchise network and the brand.
Delivering your brand story to the world via content marketing will give you a leg up in the race to win the hearts and minds of franchise candidates.
When you’re running your own business, there will always be obstacles to navigate in order to succeed, but when you run a business with your family, a new set of challenges is layered on to typical trials and tribulations.
Offering lengthy royalty free periods to franchisees can show faith in current franchise partners, celebrate the brand’s success and give new franchisees a break when they are getting up and running.
Create and maintain positive publicity for your franchise brand.
Two common mistakes that franchisors make when reaching franchisee agreements are qualifying candidates that are under-capitalized and under-experienced. Evaluate your decision following five key steps to avoid making the wrong choice.
Put yourself in the best financial position possible, so you’re ready to hit the ground running.
Lasting franchise success requires an understanding of behavioral sciences.