Tag Archives: BUSINESS

Franchisee Spotlight – Jason Shastri

Franchisee Spotlight – Jason Shastri

Sometimes, franchises will be referred to as turn-key businesses.  An established system is already in place and all you need to do is turn the key and open the door, and you can start work. Most franchise owners know that that’s hardly true and kind of an insult to the process. There’s a lot involved in buying a franchise, and often, you’re looking for a location and then going through the process of getting a building constructed. Then you hire and train a quality staff. It isn’t as if somebody just hands you keys to a business. The exception to this is when you buy an existing franchise, particularly when it has been around for some time and been very successful.  Jason Shastri did exactly that late last year, when he bought the Mr. Transmission/Milex franchise in Stafford, Texas, which had been in business for about 30 years. “One of the things I liked about the store is that it had a good reputation with its customers.  It didn&rsquo ... read more

Four Ways Co-Branding Can Grow Your Business

Four Ways Co-Branding Can Grow Your Business

Most business owners want to grow a business. The question is – how to grow it? After all, there are a lot of ways to grow a business in the wrong way. You can expand your business to the point that you’re spending more on the infrastructure or inventory than you’re receiving in revenue. You can spread yourself too thin, where your business is doing too many different things and none of them very well. There’s a reason the term growing pains is often thrown around. Growing can involve a fair amount of agony. That’s why we’re big fans of co-branding, the concept of having a business that has two or three or more brands under one roof. In other words, if you run a Milex Complete Auto Care, a full-service auto repair shop, you might also be the owner of a Mr. Transmission, which does transmission and clutch repair. It’s a way of growing and avoiding growing ... read more

Growing Your Business with Multiple Franchise Brands and Locations

Growing Your Business with Multiple Franchise Brands and Locations

Some people think that if you’re a franchise owner, that’s it. You own one franchise, and you’re almost a glorified employee who works for the franchisor. You aren’t really a business owner. You can never grow your business. You just have one stand-alone store in the franchise network, and that’s it. But that simply isn’t the case, as you may already know. Some franchise owners end up running businesses that operate and manage several different franchises. You could own a corporation that has five gas stations in a region, six restaurants and three clothing stores. No, it wouldn’t happen overnight, but the point is that some people do take that approach. Those people are often called master franchisees or area developers, and obviously, it takes a long time to get to that stage in one’s career, if you go that route. But the point is, being a franchise owner never means that you can’t grow and expand your business – and we tak ... read more

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