Franchising Your Business

Travel franchise CruiseOne takes the top spot again, followed by Color Glo International, a furniture and auto restoration franchise, then Marco's Pizza, Boulder Designs and Snap-on Tools.

If you are willing to invest your time and capital in the proper areas, the challenges are reduced, risks minimized, and growth and the sustainability of your business can be greatly enhanced.

By Tara A. Speer, Esq. Your business is doing well, you have a good reputation, you're profitable and demand has been steadily increasing. Many customers have been inquiring if you will be opening up additional locations, possibly closer to their homes or offices. You might find the idea as intriguing as it is daunting. The idea of expanding your brand and reaping the financial benefits of having multiple locations is enticing, but you still have concerns about spreading yourself too thin. Luckily, there may be an option "C." Franchising allows you to open up doors for your brand that you may not otherwise be able to open through independent operation and ownership by you alone. If you have an already successful business, then you already have a blueprint to help others succeed. Through franchising, you are essentially granting others a license to use your trademarks and the business "system" you have developed in exchange for a royalty fee.  Whereas you control the system to ensure there is uniformity for your brand, the franchisees are independent business owners and run independent businesses. Therefore, you are relieved of responsibility for the day-to-day human resource issues, such as hiring, firing, promotion, discipline,...

You don't have to quit your day job to own a business. There are plenty of franchise and business opportunities that you can do in the evenings and weekends

From 12 November 2016, the amendments to the Unfair Contract Terms regime in the Australian Consumer Law will commence, protecting small businesses…

The trading floor is the epicenter of the financial world, and where Freshii franchisee Jon Blob used to spend his days. Blob worked in equity research on Wall Street for years. While there, he got firsthand exposure to restaurant financials, as well as broad exposure to global retailers’ financial and brand-building strategies.

When your business concept starts working, you may be tempted to franchise it and grow. That’s what I did, and I couldn’t be happier with the decision.

Social media review sites such as Yelp can provide challenges and opportunities for savvy multi-unit operators to take their business reviews and online image into their own hands.

We know maintaining company culture is important, but how can you approach this issue when you don't actually own the company? Franchise owners don't always have the same authority as a company founder or CEO. Here's what to know about keeping a healthy culture alive and well in your franchise.

This column is part of Globe Careers’ Leadership Lab series, where executives and experts share their views and advice about leadership and management. Follow us at@Globe_Careers. Find all Leadership Lab stories attgam.ca/leadershiplab.