80% of franchise owners have just one unit, or location in their possession. The goal with franchise investors today is to own multiple locations or branches in order to build up an empire of sorts. In order to expand you must be willing to put in hard work as well as change up your business model to stay competitive in the location of your new businesses. What would you best franchise tip be to anyone out there looking to invest?
If you are not sure what kind of business to start but you want to work for yourself, you may want to look into a franchise. By owning a chain you can pretty much work for yourself without as much of a start up or investment. What advice can you offer or shed some light on when choosing a and becoming a franchisee?
What is going on with Franchise practices today? Something’s gotta give or change? Franchise practices are constantly changing while Franchisors are not. What was your experience when first getting into a franchise?
So earlier today I was going over some of the hot trends that franchise investors will be seeing in 2014. So here is another hot thing that will be going on for franchises this June, 2014. Have you ever attended one of the conferences? What was your take on it?
It is important to stay on top of trends when you are a franchise investor. Some hot investments might not be related to your niche but it is still good to see where the markets are headed for almost any retail or business franchise investor. Do you have any tips to share for first time franchise investors to help them avoid making any huge mistakes?