6 Top Reasons to Buy Three Franchise Units Instead of One

Most Important Franchisees Questions to Ask

You’ve decided to take the plunge and become a franchise owner. Now there are so many decisions to make..what type of franchise should I run, what are the options in my price range, and of course what type of location is best for my franchise unit? What you might not think to consider, however, is should you buy three franchise units instead of one?

While this may seem like a way bigger investment especially when you are just starting it out, it may surprise you to know that that it is a growing trend in the franchise world.

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Do I Really Need a Business Plan for my Franchise?

Developing a business plan takes some planning and forethought and entrepreneurs often wonder if one is really necessary. There are a lot of benefits to it though. Here are some reasons developing a business plan from your franchise is a good idea.Developing a business plan takes some planning and forethought and entrepreneurs often wonder if one is really necessary. There are a lot of benefits to it though. Here are some reasons developing a business plan from your franchise is a good idea.

The most important reason to develop a business plan is that it forces you to think about every detail of your franchise and anticipate any problems or issues that might come up.

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7 Tips for Hiring a Head Chef

The head chef is the heart and soul of any restaurant so if you want your restaurant to be successful you need to find someone who is not only skilled, but someone who is as passionate as you are about providing your customers the perfect culinary experience.

Not only does the head chef oversee food production, he or she develops the menu and contributes to the overall image and brand of the restaurant. It is important for you to hire someone who can be a strong leader and role model for the rest of the staff.

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How to Decipher Your Franchise Agreement

It is finally happening. You are making your dreams come true and becoming your own boss by buying into a franchise, but before you get too excited make sure you know exactly what you are getting into.

A franchise agreement is a legally binding agreement between you and the franchisor. It lays out the terms and conditions of what will be expected by both parties. You will be asked to sign a franchise agreement when you officially become a franchisee.

In general the franchise agreement will include an overview of the relationship between you and the franchisor as well as the duration of the agreement.

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What Is All the Buzz Over Soft Branding?

Have you been hearing the term soft branding thrown around in the news, but not sure what it is and what all the fuss is all about? Don’t worry you have come to the right place.

With concerns over fewer people having enough disposable income to go on frequent holidays, many independent and boutique hotels are considering joining forces with large hotel brands. With soft branding, they get to still retain creative control, but to also have the benefits of having the support of a larger chain.

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6 Tips for Streamlining Day to Day at Your Restaurant

You made your dream come true. You own your own restaurant. Congratulations! It is a lot of work though and if you want your restaurant to be a success you need to make sure the daily operations of your restaurant are working at optimum levels.

Here are some tips for streamlining day to day at your restaurant:

Always Focus on Efficiency

In any business, time is money so being as efficient as possible is crucial. From the beginning, keep looking for tools and strategies which make the daily operations easier but without compromising the quality of the food or service.

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Is My Restaurant Franchisable?

If you have hit that sweet spot in your restaurant where your tables are filled every day and you have made a good name for yourself, you might be starting to experience the growing itch. Are you itching to expand your restaurant but not sure what the right way is?

The most common ways to grow your restaurant is to open another location or to franchise. According to a recent PricewaterhouseCoopers study, the franchise industry is a big driver in the economy and restaurants make up a big part of the industry.

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9 Ways to Find the Best Location for Your Franchise

Location. Location. Location. When building your own franchise unit, there are a lot of factors that play a role in a successful franchise, but location is probably one of the most important ones.

Here 9 ways to find the best location for your franchise:

Don’t be afraid to ask for help.

Not all franchisors will include help with location as part of their franchise program, but most will. As part of your franchise agreement, you most likely will get rights to a particular geographic region and you will have to choose a location within those boundaries.

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The Top 10 Important Things to Know When Becoming a Business Owner

You have finally done it. Taken the big plunge and become a business owner. It is a dream come true, but there is a lot of hard work ahead of you to turn your business into a successful venture. Having knowledge and resources at the ready will help you be prepared for all the ups and downs of owning your own business. Being a business owner is a tough, but rewarding job if you go at it the right way.

Here are the top 10 important things to know when becoming a business owner:

Stay Focused

As a new business owner, you will be probably asked to get involved in different projects outside of your business, and while it can be tempting to consider other revenue-growing options, there are only 24 hours in a day.

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How to Create a Successful Spa for Your Hotel

Hotels are so much more than just a clean and comfortable room to sleep in when you are away from home. It is all about the amenities like five star dining, a spacious pool and other amenities. Some hotels have added a spa to offer their guests a little more luxury during the stay, but hotel spas are not always as lucrative as you would expect.

It really depends on the type of clientele you typically get at your hotel. Often only a small percentage of guests can afford the extra money for a spa package so getting a constant daily traffic in and out of the spa can be challenging.

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How Can We Help You?

MBB has the tools and experience to set your business up for success.

Contact us to set up an introductory meeting.