Individuals looking to operate their own business have various options for branching out into the business world. One is to join a franchise. Some might find this an attractive option as compared to trying to build a business completely from scratch. Becoming a franchisee can have many benefits, including getting to be connected to an already established brand.
Fitness has been a booming business here in the U.S. in recent years. And one sector of this industry that has been seeing some particularly significant growth lately are franchises. Recent years have seen franchise growth coming in faster than industry-wide growth within fitness. And some estimates are predicting that this will continue. According to one set of recent estimates, franchise brands will see about double the growth rate of the fitness industry in general between now and 2022.
After five years of conflict with franchisees fighting a fast food giant, northern and eastern India now finds itself without 169 McDonald’s restaurants.
Big Mac attacks do not exist in El Salvador. Residents of that country have Don Mac attacks. And don’t look for a McDonald’s. You will only find a Donald’s.
For two consecutive years in 2004 and 2005, Canadian Business magazine named Tim Hortons as the best-managed brand in Canada.
The poster read, “Can’t tell the difference? That’s too bad because Jimmy John’s workers don’t get paid sick days. Shoot, we can’t even call in sick. We hope your immune system is ready because you’re about to take the sandwich test.”
Similar to any form of business partnership, the franchisor-franchisee relationship presents significant risks. Once an agreement is signed, possible obstacles and disputes loom in the future.
Under the previous presidential administration, franchisors faced increasing pressure through “joint employer” classifications with their franchisees. Sharing employer status with individual and smaller business owners opened them up for more lawsuits over workplace discrimination or injuries.
One of the significant benefits of being a franchisee is that the franchisor has already blazed the trail. That entrepreneur has created a system based on key successes and costly mistakes that comes with establishing a business. Applying the plusses and minuses can help build a successful enterprise.
The franchise arrangement is a great way for both the franchisor and the franchisee to benefit from operating a business. The franchisor has already established itself as a stable brand with national, or even international, reach. So strengthening their position is a bonus, especially if they can franchise out their operations to an entrepreneur or someone who wants to run an individual franchise. For the franchisee, they get the chance to shine, being able to operate a business with an already-established reputation, previous tested safety and training regulations, and a robust set of other benefits.