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Mr. Bamboo, Inc.
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The Advantages of Franchising: Why Buy a Franchise? -     “In business for yourself, but not by yourself” is a common adage used to describe the advantages of franchise ownership. And there is a measure of validity to that statement.   An independent business operator takes on a lot of risk when trying to launch a new business. Starting a business from scratch is hard work, and more than half of new businesses fail to become profitable. While the risk is not completely eliminated, the franc...
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The Benefits of Franchising - It’s no surprise that many people who consider managing their own business consider buying a franchise, as there are a number of advantages to joining this industry.   The main benefit of becoming a franchisee is that the business will have an established product or service. Another large benefit is the franchise’s brand. Whether it is on the local level, international level or somewhere in between, the branding of a franchise serves as an advantage before and ...
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The Franchise Agreement - You and your lawyer have examined the Canadian Franchise Association Disclosure Document (CFAD); you’ve done your research about the franchise, and the numbers add up. You’ve spoken with other franchisees in the business, and like what you’ve heard. You feel ready to sign the Franchise Agreement.   As stated before, the Franchise Agreement is a legally binding contract that stipulates in exacting detail the responsibilities and expectations for the franchisor and f...
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The Importance of Training in Franchising -   In order for franchisees to be successful at running their business, they need well-organized and correctly structured training courses. This is a key issue that potential franchisees need to ask the franchisor about before an agreement is signed. However, the good news is that over the past ten years, the vast majority of franchisors have put in place a start-up training program. Therefore, it comes down to the quality of training on offer and ...
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Things to Consider When Investing in a Franchise Opportunity
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Top 10 Traits of a Good Franchisee - Think you have what it takes to be a successful franchisee? How do you stack up with the following 10 traits? Of course these 10 traits aren’t everything you need to be a good franchisee, but it will certainly help you figure out if you have a good foundation.   A good franchisee…   1. Is Reliabile Are you reliable and conscientious? Franchisors have spent countless hours and dollars developing a brand and business system. Good franchisees are ones that ...
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Top Tips for First Time Franchisees - Going into franchising can be overwhelming for a first time franchisee. Luckily, there are several places to turn to for advice. Below, franchisors give their advice for new franchisees about the top things they should look for in a franchise system as well as tips that will help them make the best of their franchise venture.     Chip Baranowski, Vice-President of Franchise Development, Honest-1 Auto Care Chip joined Honest-1 in January of 2011 as Vice ...
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Understanding The Steps That Come Before Franchise Opening -  Infographic – Food Franchise Pre-Opening Schedule (Click on image to enlarge view)    Infographic – Hotel Franchise Pre-Opening Schedule (Click on image to enlarge view)   Overview of Pre-Opening Process In business, preparation is everything.  A franchisee’s approach to the months that precede opening day will determine the business’s initial success. While the franchisor will guide you through the process, it’s essential that a...
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