Real estate is a primary and fundamental part of any franchise development and growth plan. Franchisees - both large and small - need to know their customer base, where the customer traffic will be, and then locate a strong-performing site that won't break the bank.
From site selection strategies to lease negotiation tips to on time build-out basics, franchisees will find tips and advice from experts and professionals who have been there, done that, and lived to tell the story.
Just keep reading and you'll discover numerous articles and other resources that will assist you in your efforts to build your own franchise empire one well-selected site at a time.
A great franchise in a poor location will become a poor business. When it comes to site selection, one difference between an independent tenant and a franchisee is that, presumably, the franchisee will be getting real estate help and support from the franchisor.
As a franchisee, you may have found it quite easy to secure a lease with a commercial landlord; however, you may face many roadblocks if, or when, you need to terminate your lease prior to the end of the term.
Often when I speak at franchise shows and conventions a tenant will ask me, "What is the best lease length?" The term, or length, of your commercial lease is an important part of your franchise business plan and ensuing lease negotiations. However, most franchise tenants do not take enough time to consider that one day they will eventually want to sell the franchise. Alternatively, they may want to expand/downsize, relocate, or close and so do not give the term of the lease the attention and consideration it truly deserves.