The Franchisologist Blog

Successful business ownership can be addictive (in a good way), as many business owners who own multiple businesses can attest. True wealth may be built through owning multiple businesses.

Wondering if you should take the plunge and be a multiple unit business owner? How many units should I open is a commonly asked question in the franchise industry.

Growing a business is hard work. As you start to see the rewards of that hard work and enjoy the income and control that business ownership provides, a lot of people ask themselves, “should I open a second business?”

Are all franchisors good? Are all franchisors bad? These are questions I hear often. The answer…there are good, bad, great and ugly franchisors. Here are 3 ways to tell if you CAN’T trust a franchisor.

Just what may define a territory differs from franchise system to franchise system. Territories come in many shapes, sizes and styles.

No franchise company can guarantee financial success. But you have a much better chance of having a successful franchise if you follow some practical pointers before you sign on the dotted line.

Many people reach out to me asking how to use franchising to diversify their lives and business portfolios. Why? As recessions approach, people are concerned that all of their eggs are invested in one basket.

What are the two most important things that you need to be successful in a franchise? Hint, it’s not money and passion.

I’m known for liking non-sexy businesses. I think they are great for a variety of reasons but before we get into why let me explain exactly what a non-sexy business is. A non-sexy business is a business that isn’t trendy or flashy and usually sells products/services that are consumer necessities rather than “desirables.”

A great mentor of mine asked me how I define success a few months ago and it was one I pondered on for a long time.

The most positive thing that came from all the delays is that I had the privilege of sitting next to one of the main leaders in the Oakland Raiders organization on my last flight. We immediately hit it off and enjoyed the time learning from each other.

I worked with a very smart entrepreneur about 10 years ago who had built up a real estate empire in Texas. He built his own company from the ground up, and this was the first time he considered franchise options.