A franchise can be a highly enriching venture, regardless of the type of business you plan to start (restaurant, hotel, bowling alley, etc.). According to Statista, franchises in the United States (which employ more than 8 million people) generated $787.5 billion in output in 2019. However, franchises aren’t immune from risk. Therefore, it’s critical to […]
Read MoreAre Franchisees Required to Carry Business Insurance For Their Franchise
Franchises are businesses that have many moving parts. Therefore, it’s critical to understand each component of a franchise, including who the franchisor and franchisees are. What Is A Franchisee? A franchisee is an individual who pays fees to a franchise owner or “franchisor” in order to operate said company and use its trademarked name. These […]
Read MoreWhy Is Business Insurance Important For Franchise Owners
Once a business reaches franchise status, it typically has brand recognition and high long-term economic prospects. However, this doesn’t mean franchises are impervious to risk. If you own a franchise, it’s critical that you purchase insurance in order to protect your organization against the primary risks it faces. Here is a close look at this […]
Read MoreTop Risks That You Should Protect Yourself From As A Franchise Owner
No franchise, regardless of what industry it belongs to or how successful it becomes, is immune to risk. However, there is one key way to protect a franchise business from risks: by purchasing an insurance policy. Before discussing the most common risks that a franchise owner face, however, it’s important to understand what is considered […]
Read MoreWhat Is The Risk Of Not Having Insurance For My Franchise?
A franchise is a business like any other in certain fundamental ways: you need working capital and sufficient staff to run it; making its products or services unique can be key to driving its success; and it can face many different risks. Therefore, it’s essential to protect your franchise, and a highly effective way to […]
Read MoreAre Franchise Owners Required To Purchase Insurance?
If you own any type of franchise, you know that running such a business is often a challenging endeavor that should be pursued carefully. Additionally, you may have wondered at one point whether you need insurance to protect your franchise and yourself from certain risks and liabilities. Here is a close look at this subject. […]
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