Also called the Grant of Franchise, the Franchise Agreement outlines the terms of the franchise. The agreement should work for both the franchisor and the franchisee. Be sure that you review the document with a financial advisor and an attorney so that you personally understand all of the terms. Then, make sure all of the [...]

Here’s a nightmare scenario for you: You own a bakery and you’ve just leased a new building. Suddenly you discover the loading docks are not the right height so your bread racks can’t roll into the back of delivery trucks. Now what do you do? Avoid this catastrophe and many others lurking around the corner [...]

A well-written and thoroughly researched business plan is increasingly viewed as a critical element for the success of any new business. Not only does it serve to introduce your business ideas to potential lenders or investors, it can serve as a blueprint for the on-going operations and future growth of the business. The body of [...]

During the past decade we have witnessed a shift in the way Americans work. Telecommuting, job-sharing, part-time professional work, and the increase in temporary employment have altered our concept of how we earn a living. But amidst this sea of change, one change has been most significant of all — the tremendous increase in the [...]

Are the group dynamics at your workplace beneficial, or do the staff meetings fall apart at the drop of a hat? The committee approach to business can be extremely effective – when carried out properly. Discover expert management techniques that will establish teamwork in your workplace and foster trust in your coworkers. One of the [...]

An extremely critical area of effective teamwork is group trust. There are many signs that a group lacks trust – complaining, vicious criticism and backbiting. Less obvious indicators include employees conforming to the group with a reluctance to try anything new or a politeness without disclosing critical information. You constantly have to be on the [...]

You need a second pair of hands and you’d like them attached to the perfect person for the job. Hiring your first employee is a big step, and most of your thinking and calculating should happen before you file your first “Help Wanted” ad. Consider these ideas and suggestions: Write out a careful job description. [...]

There are two types of franchising: product or trade-name franchising and business-format franchising. Product and trade-name franchises designate a territory for the sale of the product. The licensee pays for the privilege of representing a nationally recognized product, such as Coca-Cola or Lay’s Potato Chips. Business-format franchises are more complex. This type of franchise is [...]