Franchising 101: The basics you need to know before you buy

KOI bubble tea shop

So you’re thinking about purchasing a franchise? That’s a big decision, and it’s crucial to do your research before you commit.

In this post, we will go over the basics of franchising and answer some common questions about franchising. If you’re considering buying a franchise, this post will give you a good starting point.

What is a franchise?

In short, it’s a business model where you license the use of an established brand and system to sell products or services.

The key benefit of franchising is that you’re not starting from scratch. You’re leveraging the strength of a pre-existing brand and system, which can give you a huge head start in terms of getting your business up and running.

On the other hand, there are some drawbacks to franchising. For one, it can be pretty expensive to buy into a franchise. You also need to be comfortable with following someone else’s system, which might not be a good fit for everyone.

How do you buy a franchise?

You’re probably wondering how to buy a franchise. It’s not a tricky process, but there are a few things you need to know before you get started.

The first step is to do your research. Make sure you understand what’s involved in owning a franchise, and be sure to read the fine print. Once you’ve narrowed down your choices, it’s time to start negotiating.

This can be tricky, especially if you’re dealing with a large company. But don’t be afraid to ask for what you want. Finally, once you’ve reached an agreement, it’s time to sign on the dotted line and get started!

How much does a franchise cost?
7-Eleven

Image Credits: todayonline.com

When you buy a franchise, you’re buying into a proven business model. You’re getting support from the parent company, and you’re tapping into that company’s expertise.

But before you make any decisions, it’s wise to know how much a franchise costs. The average cost starts from $30,000, and some franchises cost much more than that. And remember, this is just the initial investment—you will also need to factor in ongoing costs like marketing and royalties.

Do your research and talk to other franchisees to get a sense of what you can expect. Buying a franchise is a major commitment, but it can be a very rewarding experience.

What are the different types of franchises?

There are three main types of franchises: product, business format, and area development.

With a product franchise, you’re selling a product that’s already been created and tested. With a business format franchise, you’re licensing the use of an existing business model. And with an area development franchise, you’re granted exclusive rights to develop a certain area.

It’s good to understand which type of franchise is right for you because each type comes with its own set of benefits and drawbacks. So do your homework and make sure you choose the franchise that’s best suited for your goals and lifestyle.

What are the benefits of owning a franchise?

As we’ve mentioned earlier, when you buy a franchise, you’re buying into a proven system. You’re getting a business model that’s been tested and is known to work.

What’s more, you’re getting the support of the franchisor. That means you’re not starting from scratch; you’re tapping into the knowledge and experience of the people who have been where you are and have done what you want to do.

And finally, there are the benefits that come with being part of a larger organization. You get access to purchasing power, marketing resources, and training and development opportunities that would be out of reach if you were on your own.

Franchising has become one of the most popular ways to own a business, and for good reasons. But before you take the plunge, it’s necessary to know what you’re getting into. This article has given you the basics you need to know about franchising and we hope the information presented will help you make an informed decision about whether or not franchising is right for you.

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The consequences of trashing your boss during lunchtime

lunchtime office crowd in Singapore

It’s lunchtime, and you’re out with your coworkers.

You’re telling them about the latest project your boss dumped on you, and how much you hate him/her for it. You think you’re venting, but are you, really?

When you badmouth your boss, you’re putting yourself in a dangerous position. You may think you’re just sharing, but the reality is that your colleagues may not see it that way. They may start to view you as a complainer, or someone who can’t be trusted. And if things go south at work, they may very well blame it on you.

So the next time you feel the urge to trash your boss during lunchtime, remember the consequences. It’s not worth it.

The news could get to your boss

Even if you think your conversation is private, it’s possible that someone could be spreading rumors or gossiping about you behind your back. And before you know it, the news could get back to your boss. If you’re constantly trashing your boss to your colleagues, people are going to start to see you as a negative person. And that’s not the image you want to portray at work.

It creates a bad work environment
colleagues at work

Image Credits: unsplash.com

Trashing your boss creates a negative work environment. It sets the tone for the rest of the day, and it makes everyone feel uncomfortable. What’s more, it can damage your relationship with your boss.

If you’re constantly badmouthing them to your colleagues, they’re going to start distrusting you. And that’s not going to help you get ahead at work. So save your rant for outside of the office with a friend, and try to stay positive during lunch hour. It will make everyone’s day a lot better.

You never know who’s friends with whom

Let’s face it—we’ve all been there. You’re sitting in the pantry, chatting with your colleagues about your boss, and you just can’t help but rant. But what you may not realize is that you’re not just criticizing your boss—you’re sabotaging yourself.

Here’s why: when you badmouth your boss, you’re putting yourself in a bad light. You’re showing everyone that you don’t respect authority. And what’s more, you never know who’s friends with whom. So before you start complaining about your boss to anyone within earshot, stop and think about the consequences. You may not like your boss, but that doesn’t mean it’s okay to trash him to anyone who will listen.

When you badmouth your boss during lunch, you’re not only damaging your career but also your reputation among the people you’re talking to. Not to mention, it makes everyone involved look bitter and unprofessional. Think about it: if you’re having a bad day and need to vent, save it for a different audience. You will be less likely to say something you will regret, and your colleagues will appreciate you not narrating the same old story repeatedly from Monday to Friday.

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6 Extraordinary Life Lessons from Attorney Woo

The smashing courtroom Korean Drama “Extraordinary Attorney Woo” broke its own ratings record with its final episode, which aired in South Korea on August 18. The 16-part series’ finale had an average nationwide rating of 17.5% – the highest in ENA’s program history.

Extraordinary Attorney Woo is a heartwarming series that gives us a glimpse of what it is like for a person to go through the shifts of life while being on the Autism Spectrum. Structured around the realistic cases she handles, Attorney Woo showed how she was able to navigate through her struggles at work, including a budding romance.

Apart from Attorney Woo, the series’ characters have shown their professional and personal growth with each episode. Here are six life and financial lessons you can get from watching this series on ENA or Netflix.

#1: INVEST IN GOOD EDUCATION

Despite not being born with a silver spoon, Attorney Woo’s father gave up everything because he believed in her brilliance. He worked hard to invest in his daughter’s education. He knew that a good education would help improve her quality of life. It was revealed that she graduated summa cum laude from Seoul National University’s law school.

Image Credits: pixabay.com

Can you imagine how different Attorney Woo’s life would be if she never went to school or never completed her university education?

#2: STEP OUT OF YOUR COMFORT ZONE

As a person living with Asperger’s Syndrome, Attorney Woo experiences challenges in comprehending societal norms and circumstances. Even so, her job as an attorney requires her to interact and communicate with diverse types of people.

She chose to overcome her fears and step out of her comfort zone (such as a revolving door) to achieve greater heights and eventually win cases. What is an aspect in your life that you can overcome to achieve your goals?

#3: FIND TRUE FRIENDS

Faithful friends like Dong Geu Rami will stick with you through thick and thin. In this series, we see how Attorney Young Woo and Dong Geu Rami’s friendship grew in time. Gue Rami stood by her side through good and tough times. As a friend, she is honest, understanding, fun-loving, and kind. More importantly, she always wants what is best for Attorney Woo and she pushes her to reveal her most authentic self.

People like Geu Rami are rare. Cherish those people!

#4: ACCEPT THAT NOT EVERYONE WILL BE HAPPY FOR YOU

While Attorney Woo’s colleagues celebrate her success that led to them to win difficult civil and criminal cases, Attorney Kwon Min Woo sees her as a rival. In reality, not everyone will be happy to see you achieve success and accomplish remarkable things. This is okay!

Remember, you cannot please everyone no matter how hard you try. It is not your job to get their approval either. So, focus on your own journey and do your best.

#5: LOVE THE RIGHT PEOPLE

Attorney Woo grew up having only a few people in her life, but these people remained constantly present. They may not have much money, but they helped each other overcome challenges such as family property feuds and life-threatening conditions. They loved each other like family.

In life, people will come and go. If you are fortunate enough, you will be able to love the right people, and this is more than enough. You do not need to have an abundance of material things or thousands of social media followings to make you feel loved. The loyalty and love of just a few people is enough.

#6: SACRIFICE A LOT AS A PARENT

Jeon Bae-Soo plays Attorney Woo’s father Woo Gwang-Ho. Woo Gwang-Ho is her biggest fan and loyal supporter. He always thinks about her well-being and does his best to keep her safe from all the cruelties of the world. Throughout the series, his father gradually opens to the idea that her brilliant mind will let her achieve growth and independence. He lets her pursue her dreams of becoming a lawyer and hopes for the best.

If parents could have their way, they would shield their children from the harsh truths of life if possible. As a parent, you will sacrifice and give up a lot to help your children achieve happiness and success. It helps to be prepared. Be prepared by establishing a childcare plan or an educational fund for the years ahead.

Image Credits: facebook.com/channel.ena

The Extraordinary Attorney Woo K-Drama shows how Attorney Young Woo can be bright, bold, and just as worthy of love as everyone else. Its beautifully written script and inspiring characters led to its popularity in Singapore and other parts of the world. Let us just wait for what Season 2 has to offer!

Sources: 1 & 2

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The dos and don’ts of small team management

small team meeting

As a new entrepreneur, you might be feeling a little overwhelmed. After all, there are a lot of new things to learn, and managing a small team is one of them.

But don’t worry, we’re here to help! In this post, we will share with you the basics of small team management. First, we will talk about the dos. Then, we will mention a few things you should avoid if you want to be an effective small team manager.

Give clear instructions

Don’t expect your team members to read your mind—they need specific instructions to do their job properly. Be sure to take the time to explain what you want them to do, and be as specific as possible. When you take the time to give clear instructions, your team will be able to hit the ground running and meet your expectations more quickly.

Build a positive team culture

When you’re first starting, it can be tempting to just hire whoever you can find and call it a day. But don’t do that! You need to take the time to build a positive team culture–creating an environment where your team feels supported and appreciated.

Some ways to do this include holding team-building activities, setting clear goals and expectations, and providing regular feedback. When your team feels valued, they’re going to be more motivated to do their best work.

Do give feedback and recognize achievements
colleagues conversing by the window

Image Credits: unsplash.com

When it comes to giving feedback, always try to be constructive. Let your team member know what they did well and offer suggestions on how they could improve. And don’t forget to recognize their achievements! A little recognition can go a long way in motivating team members and keeping them focused on their goals.

Don’t micromanage

Micromanaging can be frustrating for your employees and will only slow down the work process. Trust them to do their job and give them the freedom to work without constantly looking over their shoulder.

This doesn’t mean you shouldn’t be checking in on their progress from time to time, but make sure you’re giving them the space they need to work effectively. And if there are any problems, address them directly rather than eyeing your team’s every move.

Don’t try to do everything yourself

Trying to do everything yourself is a big mistake, and it’s one that a lot of new entrepreneurs make. When you’re wearing all of the hats, it’s tough to be effective in any of them. You need to be able to delegate tasks and trust your team members to get the job done.

But don’t just delegate tasks blindly. Make sure you’re giving your team members the appropriate level of authority and providing them with all the information they need to succeed. And be sure to check in periodically to make sure things are running smoothly.

When it comes to managing a small team, there are certain things you should and shouldn’t do as we’ve mentioned in this post. As a bonus tip before we close, be patient and understanding with your team members. Everyone makes mistakes sometimes, so it’s good to be forgiving. Wishing you all the best in creating a successful small team that is productive and effective in bringing your business to greater heights!

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What to say to a negative person to help them see the brighter side

two ladies having a conversation

It can be tough to deal with a negative person, especially when they’re constantly bringing you down.

You may feel like you’re walking on eggshells around them, and you probably want to avoid talking to them as much as possible.

But what if there’s a way to help them see the brighter side of things? Continue reading for a few tips on how to talk to a negative person in a way that will help them find some contentment.

Let them know that you’re there for them

When they’re feeling down, give them a call, send them a text message, or drop by their house with a bag of groceries. Whatever it takes to show them that you care. And be prepared for some long conversations—negativity is a habit that’s not easy to break. But it’s worth it because you will be helping someone who’s struggling and could use some support.

Encourage them to see a counselor or therapist

A good therapist will help them understand the reasons behind their negative thinking, and they will give them the tools they need to deal with their problems.

If your friend or family member is resistant to the idea of therapy, you can try to convince them by sharing your own positive experiences. Sometimes all it takes is for someone else to say “I believe in you” for a person to start believing in themselves again.

Help them see that their negative thoughts may be biased
encouraging a friend

Image Credits: forbes.com

For example, if they’re always complaining about their job, ask them to list five good things about it. This can help them get a more balanced view of their situation.

You could also encourage them to take action. If they’re always saying that they want to do something but never actually do it, challenge them to take a small step in the right direction. A little progress is better than no progress at all!

Avoid phrases that sound like you’re minimizing their feelings

When you’re talking to a negative person, it’s necessary to avoid phrases that sound like you’re minimizing their feelings. For instance, try not to say things like “It could be worse” or “At least you have _____.”

These phrases can make the person feel like you’re not taking them seriously and that their problems are insignificant. Instead, try to say something that shows that you understand what they’re going through.

As an illustration, you could say “I know it feels like things are never going to get better, but I have faith that they will” or “I can see how much this is affecting you, and I’m here for you.” By using phrases like this, you’re not only validating the person’s feelings, but you’re also showing them that you care.

Sometimes it can be tough to know what to say to someone negative about everything under the sun. You could try asking them about the good things that have happened in their lives. This can help break the negative cycle and put them in a more positive frame of mind. Most significantly, try not to take their negativity personally. It’s not about you, and it’s not your responsibility to change their outlook on life. Simply being there for them and offering support is often good enough.

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