Franchise 101: What is a Franchise Fee?

When considering investing in a franchise, you might ask why you would pay a franchise fee. This is a common question I get as a certified franchise consultant (CFC) all the time. A franchise fee is a one-time fee charged to a new franchisee when purchasing a franchise. Franchise fees can range from a few thousand dollars to more than $50,000 and are usually paid at the time of signing a franchise agreement. In most cases, the franchise fee is non-negotiable, at least in the case of ...

Success Tips for the Entrepreneur - Focus on What Makes You Thrive!

Be relentless and unapologetic with what makes you thrive! Too often we stray from our motivations and become influenced by the outside world. This can cloud our desires and pull us in different directions. If we lose the connection to what makes us thrive, we find ourselves bouncing from one person's opinion to another's until we start second-guessing ourselves and losing sight of our mission.

As business owners and entrepreneurs, we can also be easily distracted by a seemingly ...

It's a Mindset

Certified franchise consultants (CFCs) are specifically trained in uncovering the mindset in people to determine the probability of success in franchising. Often, people have a pre-determined set of ideas or thoughts on specific franchise industries which may or may not be true.

There are hundreds of categories and sub-categories in franchising, but most people are only familiar with a few. In addition, there are home-based, brick-and-mortar, employees, no-employees, low-investment, ...

Fact vs. Fiction

Franchises are expensive. Franchises are just for fast food and retail. Franchise owners aren't really business owners. You can't be creative if you own a franchise. Anyone can buy a franchise if they have the money to invest.

Are these statements true, or myths? It is so important while on your search for a franchise that you take the time to debunk the myths and keep an open mind while evaluating opportunities. But how do you go about uncovering the actual truths? This is ...

Entrepreneurs and Science Fiction Writers

There are many types of writers and many genres - fiction, nonfiction, biographical, educational, technical, etc. However, one of the most difficult genres of writing is science fiction since the writer must write about things that don't exist. They must have the vision to create worlds and devices - and even beings - that only the author can see in his/her mind. This requires a great deal of creativity, and to be a successful science-fiction writer also requires creativity ...

Progress Over Perfection

When you are in the beginning stages of looking into a business for yourself, even just starting the process can be considered progress. While striving for perfection is good, waiting to proceed until perfection is achieved is not going to help you to reach your goals.

Franchise consultants are certified in helping people move forward in the progression of building their business future through franchising. Franchise consultants are people like you and me who've been properly trained ...

Entrepreneurial Advice

No one gets excited over a complaint about their business, but at some point or another, even the best businesses will receive criticism. What separates the most successful entrepreneurs from the least successful is how that information is viewed and managed.

If you subscribe to the notion that a complaint voiced by a customer is a blessing, it can give you, as the business owner, an opportunity to consider the comment and correct it. Feedback from customers helps tweak operations and ...

The Key to Your Future

Keys are meant to open certain doors. For example, your house has a special key, and that specific key doesn't open the door to your neighbor's house.

Franchise consultants are certified in helping people find their special key to unlock a big, bright future in franchising! As a certified franchise consultant, I have been properly trained and certified to help others become franchise entrepreneurs. When someone wants to explore franchise ownership, rather than become overwhelmed by so ...

A Rising Tide Lifts All Boats

In a world obsessed with being "the best," there is sometimes an implication that success is in limited supply and there isn't enough to go around. This outlook keeps people in a fearful state that makes them believe whatever they have may be taken from them. It also sets us up for making decisions based on fear, which pulls us back into the shadows and keeps us unwilling to risk doing something new, taking on a new project, or acting on an innovative thought.

When we believe that a ...