Posted on October 14th, 2008 by Sebastien
A post on Let’s Talk Franchising lets us know that Uno Chicago Grill is opening its eighth location in Penssylvania.
NEFA Member, Uno Chicago Grill, opened its newest restaurant today at the Neshaminy Mall in Bensalem, PA. Franchise Partners Tom and Angella Bock of The Bock Group also own and operate seven other Uno restaurants in Pennsylvania and New Jersey and are Uno’s largest multi-unit franchisees. The Bock Group has also secured the real estate to open two more Uno restaurants: one in Newton Square, PA and the other in Oaks, PA.
You can currently get more information about the Uno Chicago Grill franchise here. Note that Uno was selected as a Top 100 Franchise in our latest edition of Bond’s Top 100 Franchises.
Filed under: Franchise News | 1 Comment »
Posted on October 14th, 2008 by Blair
Choosing to buy a franchise rather than starting your own business can have a lot of advantages, and the franchisor running certain things can certainly simplify your operation. On the other hand, it can also be considerably more complicated in some ways, one of which is the tangle of legal issues that is particular to buying a franchise. Many sources strongly recommend that you acquire a franchise lawyer when you are thinking about buying a franchise to help you mine through these legal issues.
One of the most important documents you will have to figure out is the UFOC (uniform franchise operating circular) which the franchisor is required to create by the Federal Trade Commission. This UFOC discloses a number of things about the franchisor and the business they are selling you, including what they do, their business experience, the fees you can expect to pay, what kind of investment you will have to make, and whether or not they have been involved in any lawsuits. Reading this document can tell you a great deal about a franchisor, and understanding it will help you decide whether buying their franchise is right for you. Read more »
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Posted on October 14th, 2008 by Blair
If you have thought about starting your own business by becoming a franchisee, you might be overwhelmed by the options. There are a lot of great benefits to buying a franchise rather than starting a new business, but you might not get to experience those benefits if you are paralyzed by the infinite franchise opportunities or if you pick one of those franchise opportunities without careful consideration. Make sure you do your research carefully and spend a lot of time picking the perfect franchise for you.
The first, and most obvious, way you might think to narrow down your options is by choosing a franchise opportunity that is interesting to you. You might think you won’t mind cleaning houses a few days a week if it’s an easy franchise opportunity, but if you really hate cleaning, don’t even think about it. Likewise, if you hate animals, don’t even consider a retail franchise that caters to animals, even if you think it might be just like any other retail opportunity. Don’t make the mistake of picking something you aren’t interested in, because it will make it much harder for you to be successful down the road. Read more »
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Posted on October 13th, 2008 by Sebastien
In many cases, there are people considering getting there own businesses up and running and they have the skills to do so. What they lack however, is the proper funding. Many of them may have very little financing to start with, perhaps even less than $20, 000 on hand. Would it be a good idea for folks like these to consider going into franchising? Are there low-cost franchising opportunities suitable for them ?
An even better question to ask is whether or not buying a franchising business on such a tight capital is even a sensible idea. Even with the available financing present, would it be such a good idea to get yourself into that sort of debt? Things aren’t always that cut and dry though and there are many aspects to consider. To better demonstrate these aspects and gray areas, let’s look at a typical business for changing mobile oil. Read more »
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Posted on October 13th, 2008 by Sebastien
You may hear some people say that buying a franchise is very similar to buying a job. In some cases, they’re not very far off from the truth. How 7-11 franchises function is a good example of this. Inventory is routinely requested and then paid for by money from deposits, then a check is made out twice monthly to cover the cost differences.
Another good example is franchises such as Subway, where it’s more of a job than an actual franchise. Mostly because after taking out a loan and signing a business lease, you end up buying all your supplies from the company The average salary ranges between two to three thousand a month and the only way you can raise this figure is purchasing even more stores. Read more »
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Posted on October 13th, 2008 by Sebastien
Initially, you may be fooled into believing that there’s nothing easier than purchasing a franchise. Well, that’s not entirely true. To begin with, it’s difficult for you to compare between the various franchising opportunities well enough to determine which is the most likely to turn in a profit. As a matter of fact, it’s nearly impossible to determine exactly how much you’ll make through franchising amidst all those industry regulations and lawsuits popping up here and there.
A good tool to use is a franchise guide, which is a listing of all available franchising opportunities. Also, you can always turn to the internet and search to see what’s there. First of all though, actually make up your mind about the kind of business you’d like to own and then start searching for available possibilities that cater to your desires. Read more »
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Posted on October 13th, 2008 by Sebastien
If you have future plans for buying a franchise, there are a few things you must consider and be aware of, if you don’t want to see your business crashing down when it’s just barely getting off the ground.
The franchise is first and foremost an industry. That’s why it’s no surprise that like every industry, it has quite a number of crooks and thieves looking to cheat you out of your hard earned money.
However, while every industry comes complete with its con artists, it also comes with ways to combat them. The first way to avoid being conned is to identify the con artist, of course. There are a couple of simple things to look for by which you can spot a crook and his game a mile away. Read more »
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Posted on October 13th, 2008 by Sebastien
The decision of buying a franchise is not an easy one to make and this article hopes to offer you some information that will make things just a little bit less confusing.
Before going into franchising make sure you do your homework. Carefully research the possibilities available to you and consider all the aspects of this situation which can be the ultimate turning point of your professional life.
Franchises are all over the place now. They’re in your favorite supermarkets, restaurants and your regularly used means of transportation. They’ve shown a remarkable growth over the past few years with an annual rate of growth exceeding 50 %. Read more »
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Posted on October 13th, 2008 by Sebastien
It’s a big step in your professional career when you determine that you’d like to go into business for yourself. What remains is deciding what type of business you’d like to be involved in. Franchising is one of the most popular options for people in your position.
Basically, you’ll be running a clone of an original preexisting business. It’s sort of like renting a business concept and plan from someone and then running it using your knowledge and skills. Obvious examples of such businesses are international fast food chains popping up on every corner in existence like McDonald’s and Pizza Hut. Like all businesses of course, franchising has its advantages and disadvantages and you should understand both before making your next move. Read more »
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Posted on October 13th, 2008 by Sebastien
When entering the franchise business there are many risks to be wary of. One of the most important risks is getting involved with corrupt franchise companies and dishonest franchise sellers. In fact, some of these companies may be so crooked that it seems there only purpose for existence is to rip you off and you’ll be amazed at the type of damage they are capable of doing to you and your business.
Fortunately though, a huge benefit exists for franchisees today which wasn’t available many years ago. This benefit comes in the form of a franchising agreement. To put it simply, it is a disclosure document which is issued by requirement from the federal and state governments which exposes all there is to expose about the company and its history, whether it’s good or bad. So to make sure you can save yourself a ton of heartache and expenses caused by disputes and litigation in the future, make sure you focus on the section of this document pertaining to lawsuits. Read more »
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