In exchange for the brand, name recognition, training, and franchise model, franchisees can expect to pay franchise fees and royalties. How much these payments amount to depends on the individual franchise; some require an upfront payment with ongoing royalties as a percentage of sales, while others skip the royalty fees but require the franchisee to purchase ongoing products or services from the franchisor.
Find out how much the average franchise fee is and what the money is used for before you sign on with a franchise system.
Read the full story: Franchise Fees and Royalties
For some people who would like to eat out, gluten is a problem. Many fast food franchises use it as a food additive, and people who are on gluten-free diets will not be able to stick to them at such chains as McDonald's, KFC and Pizza Hut.
But there are chains that go out of their way to inform potential customers about gluten-free items on their menus. Among these are Wendy's, Burger King, Chick-fil-A and Domino's. They want to bring in customers, even in spite of their potential allergies.
Ever heard the expression "the worst house in a good neighborhood is better than the best house in a bad neighborhood." The same holds true when selecting a location for a franchise site. As with the franchise itself, it takes due diligence to find and examine good locations for your business. A mix of good foot traffic, desirable customer demographic, and property management (including rental rates) is crucial.
While many franchises can be found in malls or strip malls, be careful: the mall or strip mall developer has a bigger impact on your business than you think. Avoid location pitfalls and boost your business with these tips.
Read full story: Location, Location, Location: Where to Set Up Your Franchise
Fred DeLuca was a 17-year-old clerk in a Connecticut hardware store when he needed more money than he was getting paid in order to go to college. He talked to a family friend, who gave him an idea and $1,000. Six years later, he had his college degree and he and the friend were partners in a chain of submarine sandwich shops that would become the Subway franchise.
He thinks a story like his is still possible, recently telling an audience, "There are certainly 17-year-olds that are just like 17-year-olds when I was a kid -- good work habits, good education, good ambition."
He says part of that ambition involves looking to see where the opportunities are, and that the Internet isn't the only source: "I was always amazed, going through the Yellow Pages, how many different businesses there were, things you could never dream of, but they're all services needed by society. If you can deliver them efficiently and conveniently and with high quality, you will get customers." Fred DeLuca believes the chance to do something resembling what he did is still there.
Fred DeLuca was a 17-year-old clerk in a Connecticut hardware store when he needed more money than he was getting paid in order to go to college. He talked to a family friend, who gave him an idea and $1,000. Six years later, he had his college degree and he and the friend were partners in a chain of submarine sandwich shops that would become the Subway franchise.
He thinks a story like his is still possible, recently telling an audience, "There are certainly 17-year-olds that are just like 17-year-olds when I was a kid -- good work habits, good education, good ambition."
He says part of that ambition involves looking to see where the opportunities are, and that the Internet isn't the only source: "I was always amazed, going through the Yellow Pages, how many different businesses there were, things you could never dream of, but they're all services needed by society. If you can deliver them efficiently and conveniently and with high quality, you will get customers." Fred DeLuca believes the chance to do something resembling what he did is still there.
Read the full story: Fred DeLuca Biography - The Subway Franchise Story
