Author: Regina Clayton

What is a Franchise?

  The International Franchise Association (IFA) explains that “franchising is simply a method for expanding a business and distributing goods and services through a licensing relationship. In franchising, franchisors (a person or company that grants the license to a third party for the conducting of a business under their marks) not only specify the products and … Continued

Best Business Practices

If you’ve started your own small business or have invested in a franchise, chances are you’re networking with peers, taking courses, and doing some research on best business practices so that you can find what best fits your strategy for success. If so, good for you! Running a business can be challenging, but if you … Continued

How to Develop Business Objectives

Developing appropriate and insightful business objectives may seem like a lot of busy work, but can be critical to your company’s prosperity. Knowing where to begin, and how to go about it is just as important. When you choose the right goals and objectives, you’re helping your new business find its footing and keeping your … Continued

Why You Need a Business Plan

Starting a business involves your mind and all your skills. You have to design the idea before it can be turned into reality. The process of making your dream a reality is never easy. When starting a business, you have to put your thoughts on paper through planning. Planning is an essential element in the … Continued

Different Types of Business Strategies

When it comes to running a small business, either an independent startup or a franchise investment, there are a number of business strategies that can be used to ensure success – and each varies depending on the company-specific situation. For example, newer businesses will face a different set of challenges than a business that has been … Continued

Do You Need a Business Consultant?

Managing your own business is difficult. Whether you’ve invested in a franchise or are pulling together resources for an independent startup, chances are you can’t afford to waste time, supplies, talent, or money. The bottom line is that you need to make sure you are spending your limited resources in the best way possible. A … Continued

Why Make a Competitor Analysis?

  In starting a small business, particularly if you’re investing in a franchise system, it’s important that you know as much as possible about your competitors. According to the Reference for Small Business, a competitive analysis is “the practice of analyzing the competitive environment in which your business operates (or wishes to operate), including strengths and … Continued

The Importance of Market Research

When starting a small business – whether you’re investing in a franchise or looking into an independent start-up – it’s important to know who your customers will be, how you’re going to get the word out to them, and who you’ll have to go up against in order to get their business. So how do you … Continued

Why Understanding Your Competition Is Important

  A thorough understanding of your industry competition is one of the biggest key factors to the success of any business, whether it’s an independent startup or a franchise. Regardless of if your service/product satisfies a unique market, there is always another company offering a similar service/product. The fundamental thing to remember when sizing up … Continued