💧💉Rich Chambers 🧬 🩸’s Post

A new Franchise Ascension Initiative has been announced by The International Franchise Association, which will prepare individuals from underrepresented groups and economically disadvantaged people to become franchisees. The program will launch late this year, with the first session continuing into early 2025, the IFA announced at its annual convention. The Franchise Ascension Initiative offers a clear path toward wealth creation, according to the IFA, which states that franchise businesses create jobs at 2.3 times the rate of non-franchise businesses. #FranchiseOpportunity #Franchise #IFA24

Transform your future with franchising! 🎉 As stated by Matthew Haller, President of the International Franchise Association, "franchising is one of the greatest pathways to business ownership and creating generational wealth." Learn more about The Franchise Accession Initiative, Morrow Hill's involvement, and start your application using the link below! #MorrowHill #TAI #Franchise https://lnkd.in/gkSKWzSq

Some of the best franchises to own in 2024 include McDonald's Corporation (NYSE:MCD), Seven & i Holdings Co., Ltd. (OTC:SVNDY), and Papa John's International, Inc. Read about them all: https://lnkd.in/ekafzxtV #Franchises #BestFranchises #entrepreneurship

Great Keith Miller that the Federal Trade Commission took this enforcement action with Qargo Coffee. Qargo Coffee is an outlier with their over-the-top franchising non-compliance and connection with Burgerim. Much of franchisor franchise pre-sale shenanigans happens in these ways - 1. Franchisor, FSO or 3rd party franchise seller verbally or in writing (Powerpoint, email, reprint of a trade article, etc…) tells or shows a franchise buyer “How much money they can make” absent a compliant Financial Performance Representation. 2. Franchisor CEO/COO/CDO/VP presents at industry conferences, are guests on or have their own podcasts, distribute video shorts, articles on Tik Tok, Facebook, Instagram, LinkedIn, Twitter and email blasts where they talk and tell stories about their brand’s unit volumes, COGS, labor, build-outs (FF&E) and cash on cash return ROI that go well beyond what their published Financial Performance Representation says (if they do have one). 3. Franchisor has outsourced to an FSO or 3rd party franchise sellers/brokers (often the two work together to recruit franchise buyers) and the franchisor is ignorant of what their 3rd party sales agents are doing unlawfully to sell franchises. And are ignorant that they are legally responsible for these 3rd party sales agents. Franchise buyer prospects are hungry for these unlawful and non-compliant Financial Performance Representations, are pleased when they get them, think they are doing great franchise offering pre-purchase vetting and often do not understand that they have been violated under the FTC Franchise Rule protections. Franchisors with winning concepts that possess great unit economics should avoid these shenanigans, have full P&L Financial Performance Representations include KPI breakouts, train the c-suite on Federal Trade Commission Franchise Sales Rule compliance and only engage with credible and reliably experienced franchise advisors to help them with their expansion.

Problem of course being that the FTC calling will not get you you're hard earned investment back. Oh it's a good thing, not to be mistaken, as the Federal Trade Commission may very well exert enough pressure to take the bad franchisors down. The Franchise Rule needs to be entirely modified and changed to reflect the times in which we live. Start with franchise agreements, delete ad hoc changes via the operations manuals, take out the "we may do this" language wherever it appears, insert a private right of action, eliminate binding arbitration, and have franchisors pay all costs associated with lawsuits won. And these are just for starters. Never-mind the half a dozen franchises that are outed every now and then as the indiscriminate review of agreements and FDD's are typically not even reviewed. Having now become the place to complain, and I include myself, LinkedIn does little to help and isn't expected to except for a forum to get the word out. And as you do, you find your self blocked by self promoting zealots who claim to be all in on franchising, right IFA? Nonsense, pure and simple. Anything the Federal Trade Commission does is worthwhile regardless of those hoping to run out the clock.

When franchise consultants and franchisors work together, it’s a win-win for everyone—especially the potential franchisee. But sometimes, communication goes to the wayside and disrupts the process. Here, consultant Lisa Linkowsky, CFC shares her franchisor pet peeves and offers solutions to common issues. https://lnkd.in/eKHqFDCM #franchisenews #wearefamily #franchising #franchiseconsulting

A new study has demonstrated the rising popularity of the franchise business model in the UK - of the 20% of Brits considering setting up their own business, 49% of those are considering a franchise model. When asked about the top three most appealing benefits of being part of a franchise business, 44% said the higher chance of success than in a sole proprietorship, 40% said the selling power of a known brand and 35% said the initial training and support. A franchise is where a business gives the right to another person or business to sell goods or services using its name, offering all the benefits of being part of a larger group but offering the franchisee the opportunity to be their own boss. #Franchise #FranchiseBusiness #UKBusiness #FranchiseIndustry

Study Reveals Rising Popularity of The Franchise Business Model in the UK: A new study has shown that 20% of Brits are considering setting up their own business in the next five years and, of these, 49% are considering a franchise model. When asked about the top three most appealing benefits of being part of a franchise business, 44% said the higher chance of success than in a sole proprietorship, 40% said the selling power of a known brand and 35% said the initial training and support. A franchise is where a business gives the right to another person or business to sell goods or services using its name, offering all the benefits of being part of a larger group but offering the franchisee the opportunity to be their own boss. #NewBusiness #FranchiseDevelopment #Franchising

Thank you Jason Marks at KCRA 3 & My58 Television for running this story. While the Burgerim story is in many ways old news, it reminds us of the long term impact as it is still ruining people's lives today. Bad franchising is much more than a statistic. California Department of Financial Protection and Innovation Federal Trade Commission #franchise #franchising #franchisees #franchisee #fairfranchising #franchiseeadvocacyconsulting

Five key factors to evaluate when buying an established franchise Cheryl Harper QFP, Managing Director of Greensleeves Lawn Care Ltd, shares five key factors to consider to ensure you get the most out of buying an existing franchise. 📚Read the full article here: https://lnkd.in/eUVCdgdH #franchise #businessgrowth #franchising