Franchising, defined and explained
A Consumer’s Guide to Buying a Franchise
Skip navigation. Thinking about buying a franchise? Investigate before you invest. Before you sign on the dotted line, read this guide for advice on evaluating franchise opportunities. When you buy a franchise, you may be able to sell goods and services that have instant name recognition, and get training and support that can help you succeed. It suggests ways to shop for a franchise opportunity and highlights key questions you need to ask before you invest. A franchise enables you, the investor or franchisee, to operate a business.
Small Business Economics. Recent studies have called for a better understanding of the link between networking and entrepreneurial performance. We provide such understanding in three ways: by focusing on a specific entrepreneurial context franchise systems , by developing a multi-faceted theoretical framework and by highlighting a contingency that may affect the networking-performance link. In particular, we argue that the performance benefits that franchisees draw from networking with their peers vary between low, medium and high performing franchisees. We use ordinary least squares OLS and Quantile Regression analyses to test our hypotheses with empirical data from a Dutch franchise system. Our results confirm that structural, resource and relational facets of franchisee peer networking affect unit performance, and that they benefit and harm low, medium, and high performing franchisees differently. Many studies have found that networking improves entrepreneurial performance by providing entrepreneurs with access to a variety of important resources e.
Siebert shares decades of experience, insights, and practical advice to help grow your business exponentially through franchising while avoiding the pitfalls. In this edited excerpt, Siebert digs into the details behind just what makes franchising a growth strategy you might want to consider. Franchising, as an alternative form of capital acquisition, offers some advantages. The primary reason most entrepreneurs turn to franchising is that it allows them to expand without the risk of debt or the cost of equity. First, since the franchisee provides all the capital required to open and operate a unit, it allows companies to grow using the resources of others. Another stumbling block facing many entrepreneurs wanting to expand is finding and retaining good unit managers.