http://www.franchiseesforum.com/forums/65 For franchising topics that don't fit elsewhere. We will create separate topics as the need arises
Please "SIGN UP" before you post. See top of page. ]]> en-us Copyright 2006, Yuku feeds@yuku.com (FeedMaster) webmaster@yuku.com (WebMaster) Fri, 08 Feb 2008 16:18:40 GMT Mon, 14 Jul 2008 12:54:29 GMT Yuku Feeds 1.0 http://blogs.law.harvard.edu/tech/rss 60 http://static.yuku.com//feed/bypass/images/button-yuku.png http://www.franchiseesforum.com/forums/65 Yuku - free hosted forums and profiles 88 31 {pics-1.1 "http://www.icra.org/ratingsv02.html" l gen true for "http://yuku.com" r (nz 1 vz 1 lz 1 oz 1 cz 1 ) "http://www.rsac.org/ratingsv01.html" l gen true for "http://yuku.com" r (n 0 s 0 v 0 l 0 )) Search Domain q http://yuku.com/search/direct/ http://www.franchiseesforum.com/topic/397/t/IT-S-ALL-ABOUT-TIMING-.html • You're satisfied that this business can make enough profit. (Make sure that your "satisfaction" is well-founded).
• Your about to go ahead and buy it/ sign the deal.

Ask yourself the following:
1. What do you know about the timing of the profitability and the cash-flow?
2. Will it take a month? A year? 2 years? More?
3. On what information are you basing your assumption?
4. How... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/397 Mon, 14 Jul 2008 12:54:27 GMT http://www.franchiseesforum.com/topic/396/t/IT-S-THE-LOCATION-STUPID-.html
Don't simply rely on what the franchisor tells you. The fact that a location "feels right" is really not a reason to commit to a lease.

Location-selection should be a disciplined exercise that takes into account the "Key Location Criteria" that the franchisor has determined are critical to success. The criteria will probably be weighted. If the... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/396 Tue, 10 Jun 2008 16:01:13 GMT http://www.franchiseesforum.com/topic/395/t/DON-T-BUY-A-FRANCHISE-DO-IT-YOURSELF-.html
This approach may not be right for you - but at least you will have properly considered it!

Your initial response is probably:
"But I don't know what to do! Where will I start? It's all too hard!"
Your initial response may well be w-r-o-n-g. Read on, and then decide.

... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/395 Tue, 03 Jun 2008 14:26:19 GMT http://www.franchiseesforum.com/topic/394/t/--FRANCHISORS-TREAT-EX-FRANCHISEES--ORDER----RUBBISHED-.html
It is well recognised by franchisors, that having an unhappy ex-franchisee is bad for business. No. Really?

The seminar discussed the basic philosophy about "looking after" departing franchisees by conducting exit interviews etc. All great stuff.
... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/394 Mon, 02 Jun 2008 15:22:36 GMT http://www.franchiseesforum.com/topic/393/t/Are-there-franchisees-who-actually-MAKE-money-Tell-us-.html You pay your $200 - $400K for the franchise
You pay yourself a salary for the 50 hours a week that you work in it.
At the end of the year, is there anything left (Profit after interest & tax)? How much as a % of what you invested?

C'mon - tell us. There must be at least a few franchises that are making their 20% ROI.

The... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/393 Thu, 15 May 2008 20:25:37 GMT http://www.franchiseesforum.com/topic/392/t/I-PURCHASED-A-FRANCHISE-IT-S-NOT-PERFORMING-WHAT-NOW-.html
Your response is "I've been sold a lemon! I'm going to court!"

Whoa … That attitude is simply not going to help you!

Why? Because:
• Suing the franchisor is, in most cases, not a practical option.
If you go down the legal-action route, you had better have tons of money, time & fortitude to... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/392 Thu, 08 May 2008 10:01:41 GMT http://www.franchiseesforum.com/topic/391/t/GOT-A-HOOK-It-s-tough-without-one-.html Without at least one "hook" you will need to rely on "shouting louder" than your competition. That's a very expensive alternative.

So, what's this "hook" we refer to (with such affection)?
The hook is an outstanding characteristic (or 2) that makes your product/ or business particularly "special" in the eyes of the customer, and that is not... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/391 Tue, 06 May 2008 16:08:25 GMT http://www.franchiseesforum.com/topic/390/t/Batten-down-the-hatches-Are-you-ready-for-the-tough-times-.html
If you haven't already completed these defensive actions (below) in your business, here are a few you may want to attend to. Soon. Like yesterday!

Debtors:
Pull them in. Customers who don't pay you aren't any good to you.
Manage this carefully, as you certainly don't want to chase good customers away just because you've... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/390 Tue, 29 Apr 2008 07:02:00 GMT http://www.franchiseesforum.com/topic/387/t/Existing-franchisees-appear---doing---s-------SIGN--.html
It may sound obvious but past performance is not a reliable indicator of future performance.

Unless you know what's happening (or about to happen) in the Industry, and in the market in which you will operate, you could be in for a rude wake up call. We live in a time of rapid & continual change. Unless it is managed, you will be left wondering "What the hell happened to my business?"

In addition to seeing how others are doing, there... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/387 Mon, 21 Apr 2008 15:00:37 GMT http://www.franchiseesforum.com/topic/386/t/--fly---plane-----10-chance---crashing-.html
There is at least a 10% chance that your new business will fail. In fact new business failures in the first 5 years are above 70%. And franchises are less, but not so much less that you can throw caution to the wind.

If you (or your spouse) sign as Guarantor, that probably means that you're putting the family home at risk.
What would the effect be on your life/ marriage etc if you lost your family home? Devastating!
... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/386 Mon, 21 Apr 2008 14:49:57 GMT http://www.franchiseesforum.com/topic/383/t/Can-city-based-food-concepts-give-a-good-return-.html

1. Is it a furphy that the city is the best place to operate a food concept?
   
2. Is it reasonable to expect to make a good return on your investment plus payment of a reasonable wage for the work you put in?
   
3. What do you think is a reasonable return that you should be making on your investment (BEFORE paying yourself a salary)? Remember, you can get about 7% by putting your money... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/383 Mon, 07 Apr 2008 13:45:50 GMT http://www.franchiseesforum.com/topic/381/t/--franchisor-expanding-overseas---probably-suffer--consequen.html
   My first thoughts regarding his business are:
   
   • Does he have any idea how "different" the market will be there?
   • Does he have massively deep pockets to enable him to deal with the multitude of screw ups he will make before he gets it right?
   ... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/381 Thu, 06 Mar 2008 12:44:46 GMT http://www.franchiseesforum.com/topic/380/t/Disputes-between-Franchisors-Franchisees-are-common-.html 35% reported being involved in substantial disputes with their franchisees.
   
   (Thats according to a document received from Griffith University).
   
   So what?. So ... thats another very important piece of information that must be taken into account by prospective franchisees BEFORE they "get involved".
   
   Remember, a "substantial dispute" may imply legal action. It certainly... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/380 Tue, 04 Mar 2008 14:33:37 GMT http://www.franchiseesforum.com/topic/375/t/Franchisors-are-NOT-doing-you-any-favours-by-selecting-YOU-.html This may lead to an "ask no hard questions" approach by potential franchisees.
   
   Franchisees must remember that this is a 50:50 deal. - Whilst they may want the franchise, the franchisor also needs them. THAT'S the franchisors business - getting more franchisees.
   
   Franchisee recruitment... ]]> feeds@yuku.com (Micmarcmm) http://www.franchiseesforum.com/topic/375 Wed, 27 Feb 2008 14:11:07 GMT