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 Educating Tomorrow's Franchisees
Dec, 2014 

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A couple of weeks ago I was flying home from a meeting and I had the pleasure to sit next to a very thoughtful gentleman named Lindon. Lindon is a professor, public speaker and author. As you imagine, our conversation covered many topics and was interesting at many levels; however, at one point during the conversation he presented me with a very interesting question. The question he posed was as follows -


You have just returned from the doctor with bad news regarding your health and tomorrow you have to deliver a lecture to your business students. It very well may be your last lesson. What are the three most important lessons in business? What are the three things a person has to get right in order to succeed ?


After a little bit of reflection, these are three lessons that I would like to share -


1)      It is exceptionally difficult to control your future as a business person unless you have the knowledge and discipline to control your finances. The discipline to spend less than you earn is critical. It does not matter if you focus on earning more or spending less, you simply have to make sure that earning in greater that spending. If you are unable to manage this, you will always be indebted to others and you will never control your future or your business.


2)      Ultimately, you are responsible for your future. Nobody will believe in you unless you first believe in yourself. Too many people wait for the perfect idea, investor or opportunity to burst through their door when in fact; it is your responsibility to create the future. You are completely responsible for what happens. If you don't like the direction that something is heading, fix it. If you chose not to fix it, don't blame anyone else. Either way you decide, you are responsible.


3)      Although the next deal can seem like the most important thing in the world at the time, most successful business people will tell you that integrity, ethics and honesty are the real cornerstones of a successful business career. Always imagine that you live in a glass house and everything you do and say will, at some point, be known by everyone. Are you proud of your choices? Are you building a legacy of honor and respect? Are you trusted?


What do you think? What are your three lessons? Click here to share your ideas. 


I would like to personally wish you and your family a wonderful holiday season. See you in 2015.




Rick Bisio
Founder of The Educated Franchisee
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Fixed Vs. Percent: Understanding Franchise Royalty Fees


If you're reading this article, chances are that you've been researching Franchises. By now, you should be familiar with a Franchise Disclosure Document or FDD. This is one of the most important documents detailing many of the costs associated with a particular franchise. This article will explore the benefits, and pitfalls, of the ongoing Franchise Royalty Fee. If you're wondering what these fees are for, the best way to understand it would be to remember that the Franchise Fee is a one time, upfront payment to join the franchise system.  The royalty is an ongoing payment made in return for continued support over the length of the franchise relationship.


These ongoing fees can be levied as a percent or fixed fee. The percent based approach is normally a percent of gross sales.  For example...  

Go to Franchise Gator, Click Here
Stop Overpaying Your Small Business Taxes

he money you make in your business is hard-earned. It's the reward for all of the sales calls, difficult client deadlines and customer support challenges. So it's hard to give it up to anyone-least of all the government. Yet, taxes are a part of doing business in almost every country on earth. And we want you to focus on one thing: keeping as much of your money in your pocket as possible by taking advantage of every possible legal method of reducing your year-end tax bill.

This list isn't intended to be exhaustive. And we really hope you take the steps to build out your financial team to include a CPA who can advise you on the specifics of your business. But we do want to point out a few misconceptions or less-frequently discussed tips that might help boost your bottom line this year.  ..... 

 Go to EMyth, Click Here 

Fear of Failure of Thirst for Success - Which Is Stronger?     
A lot of people think entrepreneur's take risks with no fear or second thought of failure. This is not the case for me at least. Successful entrepreneurs tend to be very practical and sometimes quite risk averse. You have to have a balance between knowing the risk, assessing it then taking action in order to set up your own business.

I believe the initial drive for an entrepreneur is their desire and aspiration for success, his or her longing to make money, get material possessions and live a luxurious, independent existence. It's only when the business settles down, matures and grows that desire transmogrifies into fear and fear of failure begins to take precedence.

Luke Johnson, the serial entrepreneur, says: 'I like the idea that ......

Go to Antal, Click Here 

Survey: 58% of Small Business Owners Expect Growth in 2015


Fifty-eight percent of small business owners expect growth in 2015. That's based on the CAN Capital Small Business Health Index (PDF) completed recently with the help of Survey Monkey

"Thirty-eight percent [of business owners] said they plan to expand and/or try new forms of advertising/marketing activities...up from 31 percent last quarter," Chief Marketing Officer James Mendelsohn told Small Business Trends in an email interview recently.


The survey also found that 41 percent of these businesses clearly understood the important impact online and mobile business reviews will have on the future if their businesses as well.


To further prepare for growth in 2015, the survey found that 35 percent of small business owners intend to.......


Go to Small Business Trends, Click Here
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Author - Rick Bisio