Ethical Franchising How To Choose A Respected And Principled Franchise System
So you want to buy a franchise? Sounds like a great idea. After all, buying a proven business formula allows you to be steps ahead of the competition and learn from the success of others. It makes absolute sense on many levels, and thus explains the proliferation of franchising and its thriving success rate.
The challenge becomes when you start researching the myriad of possibilities. Never mind identifying one that will best fit your needs, talents, and lifestyle, there is the question of ethics and sound business practice on the part of the franchisor. How can you rest assured that the franchise system of interest to you is one that practices ethical business standards?
As a relatively new franchisor myself, I can share with you certain things learned upon my journey. Here are a few tips to guide you along your way
Trade Associations A sign of credibility is when a franchisor is a member of a franchise trade association that screens its members for ethical business practices. An example in Canada is the Canadian Franchise Association (CFA); in the U.S., the...
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