Franchising for dummies:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Hoboken, N.J.
Wiley [u.a.]
2006
|
| Edition: | 2. ed. |
| Series: | ... for Dummies
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XX, 382 S. Ill. CD-ROM |
| ISBN: | 9780470045817 0470045817 |
Staff View
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Contents at a Glance
Introduction 7
Part 1: Franchising Basics: Separating the Myths
from the Facts 9
Chapter 1: The Power of the Brand: Franchising and You 11
Chapter 2: Franchising Is More than Just a Food Industry 25
Chapter 3: Mirror, Mirror, on the Wall: Am I to Be a Franchisee? 39
Part 11: So \lou Want to Be a Franchisee) 53
Chapter 4: Making the Choice: Deciding Which Business Is Right for You 55
Chapter 5: Raising Capital: Wowing, Wrangling, and Winning 73
Chapter 6: Signing on the Dotted Line: Legal Issues 89
Part 111: Operating \lour Franchise
tike a Well-Oiled Machine 715
Chapter 7: The Start-Up: Setting Your Franchise's Wheels in Motion 117
Chapter 8: Hiring, Training, and Other Staffing Decisions 145
Chapter 9: Working with Your Franchisor and Fellow Franchisees 163
Chapter 10: Attracting and Keeping Customers 183
Part IV: Times Change: bedding What to bo Next 197
Chapter 11: Acquiring Other Franchises 199
Chapter 12: Acquiring Other Brands 217
Chapter 13: When the End Is Nigh 237
Part V: On the Flip Side: Building
l/our Own Franchise 257
Chapter 14: From Small Business Owner to Franchisor 259
Chapter 15: Growing Your Franchise Family 283
Chapter 16: Building the Network: Expanding Wisely 307
Part VI: The Part of Tens 333
Chapter 17: Ten Keys to Franchise Success 335
Chapter 18: Ten Questions to Ask Yourself Before Buying a Franchise 341
Part Vlh Appendixes 349
Appendix A: Glossary of Common Franchise Terms 351
Appendix B: About the CD 359
Index 365
End-User License Agreement Back of Book
Table of Contents
Introduction 7
Part 1: Franchising Basics: Separating the Myths
from the Facts .9
Chapter 1: The Power of the Brand: Franchising and You 11
The Birth of Franchising 11
So What Is a Franchise, Anyway (And What's the Big Deal)? 12
The effects of franchising on modern business 13
The success of franchising for business owners 14
What's the Big Deal about Brand? 14
The Franchise Siblings: Two Types of the Same Blood 15
Product distribution franchises 16
Business format franchises 16
The Roles and Goals of Franchisors and Franchisees 18
Looking at the world through franchisor lenses 18
The franchisee's end of the bargain 19
The Nuances of the Franchisor/Franchisee Relationship 20
Franchisor as partner 21
Franchisor as parent 22
Franchisor as dictator 22
A Reality Check Before You Dive In: Franchises and Profits 24
Chapter 2: Franchising Is More than Just a Food Industry 25
Oh, Industry! 26
Letting source guides drive your train 26
Paying attention to what's hot 27
Franchise Relationships: From the Single Soldier to
the Whole Battalion 28
Flying solo: Single-unit franchises 28
Growing a family, one franchise at a time 29
Having twins, maybe sextuplets or even more: Multi-unit
or area developers 30
Playing in the big leagues: Master franchising 33
The hired (commissioned) gun: Area representatives 34
Buying Used (But Promising) Goods: Retrofranchising 35
Franchising For Dummies, 2nd Edition
Chapter 3: Mirror, Mirror, on the Wall: Am I to Be a Franchisee? . .39
Deciding Whether to Start from Scratch or to Join
an Established Team 40
Before All Else, Consider the Pros and Cons 40
Advantages of franchise ownership 41
Disadvantages for franchisees 42
Making Sure You're Realistic about Your Role 44
Staring Hard at the Mirror: A Self-Evaluation 45
Are you willing and able to learn new skills? 46
Would you rather give or take orders? 46
Are you ready to say goodbye to corporate perks? 48
How's your health? 49
Do you like people? 49
How much can you dish out and take on? 50
How are your family and friends responding? 51
Part 11: So \lou Want to Be a Franchisee) 53
Chapter 4: Making the Choice: Deciding Which Business
Is Right for You 55
Finding Good Sources of Information about Available Franchises 56
Print directories 57
Consumer business publications 58
Trade shows and expositions 59
The Internet 60
Working with a Franchise Broker 61
Deciding Whether to Buy Old or New 64
Sizing up an existing franchise 64
Getting some details before you start from scratch 66
Evaluating a Franchisor's Services 68
Going Back Home and Eyeing Locations 72
Chapter 5: Raising Capital: Wowing, Wrangling, and Winning 73
Examining Your Current Finances 73
Finding Out What a Franchise Costs 75
The big picture: What your start-up costs might look like 75
Initial expenses to set up shop 76
The up front and ongoing costs of hired help 78
Doing Your Homework before Holding Out Your Cup 79
Creating a business plan 79
Projecting income and cash flow 83
Raising the Capital 84
Avoiding debt 85
Visiting the bank 85
Finding an angel investor 86
Seeking other financing strategies 87
Table of Contents
Chapter 6: Signing on the Dotted Line: Legal Issues 89
The History behind the UFOC 89
The Laws behind the UFOC 91
Understanding the UFOC 92
What you'll see on the UFOC 93
The waiting period between getting a UFOC and
signing an agreement 93
The UFOC, point by point 94
Key elements in the UFOC 103
Proposed changes to franchise rule 105
How much can I make? The earnings claims 106
Surveying the Paperwork: Evaluating a Franchise Agreement 109
Comparing the agreement with the verbal promises
and the UFOC 109
Enlisting the help of an attorney or a financial advisor 110
Negotiating with a Franchisor 112
Part 111: Operating j/our Franchise
tike a Wett-Oited Machine /15
Chapter 7: The Start-Up: Setting Your Franchise's
Wheels in Motion 117
Surveying Your Options for Locale 118
Common site options 118
Working from home 120
Opting for alternate, or off-street, sites 121
Landing near another franchise: Dual branding 122
Setting Up Shop: Finding Your Franchise's Habitat 123
Finding out what constitutes a good site 123
Using the franchisor as your compass 124
Using specific data to evaluate a site on your own 126
Avoiding encroachment 127
Securing Your Space after Finding Your Piece of Heaven 129
Understanding and signing a lease 129
Building a location 130
Getting the Goods: Merchandise and Supplies 131
Knowing who to buy from when your franchisor is involved 132
Finding your own suppliers and goods 136
Receiving Merchandise 136
Receiving deliveries 137
Checking the goods after they're in your location 138
Verifying invoices 138
Maintaining Inventory 139
Back of the house 139
Front of the house 140
Franchising For Dummies, 2nd Edition
Getting Good Training Before and After You Open Your Franchise 142
Getting good initial training 142
Ensuring that you receive effective ongoing training 144
Chapter 8: Hiring, Training, and Other Staffing Decisions 145
Finding Folks Who Fill the Bill 145
Finding the right employees 146
Following equal opportunity guidelines 148
Conducting the Interview Process 149
Before you don the suit and tie 150
Asking the right questions 151
Continuing an interview 153
After all the interviews 154
Leading the Troops Effectively 154
Grabbing the torch: Training your team 155
Holding on to your employees 159
Fostering a good work environment 161
Ensuring Workplace Safety 161
Chapter 9: Working with Your Franchisor
and Fellow Franchisees 163
Playing by the Rules 163
Meeting franchise system standards 164
Supporting and watching the system 164
Attempting to change the system 167
Building a Relationship with Your Franchisor 168
Being a team player 169
Getting what you need from the relationship 170
Dealing with Change 174
When the system's size or focus changes 175
When conflicts occur 176
Reaching Out to Your Fellow Franchisees 177
Joining advisory councils and associations 178
Being number one in a class of one 181
Chapter 10: Attracting and Keeping Customers 183
Creating an Effective Marketing Plan 184
Evaluating National and Local Advertising Strategies 186
The franchisor's national ad campaign:
Your fee dollars at work 186
Local advertising options 188
All Hail Customer Service 191
Knowing your customers 192
Showing honesty and integrity 192
Making sure customer experiences are positive
(and fixing those that aren't) 193
Looking beyond your cash register 195
Table of Contents
Part IV: Times Change: Deciding What to Bo Next 197
Chapter 11: Acquiring Other Franchises 199
Considering Whether Multiple Ownership Is Worth Your While 199
The high feats 200
The downbeats 201
Checking Your Franchise Agreement: Can You Buy
Another Franchise? 202
Reviewing Your Personal and Business Resources 202
Being honest with yourself: Are you ready for
multiple ownership? 203
Taking a hard look at your business and finances 204
Understanding Your Purchase Options 207
Starting from scratch 207
Buying multiple units 207
Buying a franchise from another franchisee in the system 208
Retrofranchising: Buying a company-owned location 210
Converting a competitor's location 212
Acquiring an area 213
Chapter 12: Acquiring Other Brands 217
Knowing What You're Getting Into 218
Taking a look at yourself: More self-evaluation questions 219
Weighing your reasons for branching out 220
Reviewing the Ties That Bind: Legal Issues 223
Investigating Endlessly — Again 225
Deciding Whether to Mix Industries or Brands — or Neither 226
Buying more from the same franchisor 226
Starting fresh with a new company 229
Siamese Brands: What Co-Branding Can Do for You 230
Setting up a one-stop shop 231
Combining your resources , 233
Chapter 13: When the End Is Nigh 237
Going for Round Two (Or Three or Four) 238
Knowing how much the fee will cost you 238
Putting together a brand-new agreement 239
Negotiating change 241
Bowing Out at the Right Time 242
Getting personal. . with yourself 242
Examining the world around you 243
Passing Your Business On to Your Children 244
Selling Out 246
Getting the most return on your investment 247
Figuring out how much your business is worth 248
Franchising For Dummies, 2nd Edition
Playing by the franchisor's rules 249
Selecting a sales method 252
Now That the Party's Over 253
Reflecting on your experience 254
Making your next move 255
Part V: On the Flip Side: Buitdiny \/our
Own Franchise 257
Chapter 14: From Small Business Owner to Franchisor 259
The Feasibility of Turning Your Tiny Garden into a Farm 260
Deciding whether your business should be franchised 261
Putting the legal requirements in context 261
Looking at the Criteria for Becoming a Franchisor 262
Do you have an operating business? 263
Will consumers need or want your products and services
tomorrow? 264
Are you committed to franchising? 265
Do you have enough potential franchisees? 266
Do you have a system? 268
Can you teach others how to operate your system? 268
Are your products and services any good? 269
Will the economics of the business support
a franchise expansion strategy? 270
Beginning Your Franchise Program: Who Should Take the Reins? 272
Doing it yourself: Success or suicide? 273
Watching out for "franchise packagers,"
wolves in pros' clothing 273
Finding professional advisors to guide your way 276
Passing Go with Your Franchise Idea 277
Brainstorming a strategic plan 278
Fleshing out your strategies 279
Creating a plan for action 279
Developing the legal documents 280
Chapter 15: Growing Your Franchise Family 283
Forming the Essence of the Ideal Franchisee 284
Focusing Your Market Strategy 284
Reeling In Great Franchisees 286
Defining the franchisee profile 286
Reaching out through the right medium 287
Accounting for Diversity in Franchising 291
Developing the Recruitment Organization 294
The franchise development staff 295
The screener, or administrative assistant 295
Table of Contents
The compliance officer 296
The approval committee 296
Recruiting Franchisees in Just Ten Steps 298
Steps 1-4: The introductory phase 299
Step 5: Discovery Day 300
Step 6: Follow up after Discovery Day 300
Step 7: Follow up again 301
Step 8: Make a decision 301
Step 9: Close the prospect 301
Step 10: Complete the process 301
Working the Validation Process 302
The Franchise Sales Presentation 303
Finalizing the Selection Process 306
Chapter 16: Building the Network: Expanding Wisely 307
Heeding the Expansion Rules of the Road 308
Taking care of housekeeping 309
Understanding the markets 313
Establishing a network 315
Taking Your Franchise Abroad: Knowing What You're Getting Into 316
Be prepared to cough up mucho moolah 317
Understand the necessity of hiring a good attorney 318
Consider the implications of language and culture 320
Remember that you're still under laws and taxes 321
Deciding Whether to Leave Your Turf 322
If You Decide to Cross Borders 324
Finding the right partner 325
Entering a foreign market 326
Negotiating the deal 328
Bringing Foreign Franchises to the United States 330
Part VI: The Part of Tens 333
Chapter 17: Ten Keys to Franchise Success 335
Make Sure That You Have Enough Money 335
Follow the System 336
Don't Neglect Your Loved Ones 336
Bean Enthusiastic Operator 336
Recruit the Best Talent and Treat Them with Respect 337
Teach Your Employees 338
Give Customers Great Service 338
Get Involved with the Community 338
Stay in Touch with Your Franchisor and Fellow Franchisees 339
Watch the Details 340
Franchising For Dummies, 2nd Edition
Chapter 18: Ten Questions to Ask Yourself
Before Buying a Franchise 341
Do You Know the Franchisor? 341
Personal Inventory: Are You Ready to Be on Your Own? 342
Can You Afford a Franchise? 342
Do You Have the Support of Your Loved Ones? 343
Do You Understand the Terms of the Contract? 343
Are the Other Franchisees Happy with Their Investments? 344
Does the Franchisor Have a History of Litigation? 344
Can You Make Money with This Franchise? 345
Is the Franchisor Making Money, and Where Is the Money
Coming From? 346
Does the Franchisor Understand Franchising? 346
Part (/ll: Appendixes 3h9
Appendix A: Glossary of Common Franchise Terms 351
Appendix B: About the CD 359
System Requirements 359
Using the CD 360
What You'll Find on the CD 360
Software 360
Chapter files 361
Troubleshooting 364
Index 365
End-User License Agreement Back of Book |
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| index_date | 2024-07-02T19:52:55Z |
| indexdate | 2025-04-21T16:00:49Z |
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| isbn | 9780470045817 0470045817 |
| language | English |
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| series2 | ... for Dummies |
| spelling | Seid, Michael Verfasser aut Franchising for dummies by Michael Seid and Dave Thomas 2. ed. Hoboken, N.J. Wiley [u.a.] 2006 XX, 382 S. Ill. CD-ROM txt rdacontent n rdamedia nc rdacarrier ... for Dummies Franchises (Retail trade) Franchising (DE-588)4018062-1 gnd rswk-swf 1\p (DE-588)4048476-2 Ratgeber gnd-content Franchising (DE-588)4018062-1 s DE-604 Thomas, Dave Verfasser aut HBZ Datenaustausch https://bvbr.bib-bvb.de:443/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016326957&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Seid, Michael Thomas, Dave Franchising for dummies Franchises (Retail trade) Franchising (DE-588)4018062-1 gnd |
| subject_GND | (DE-588)4018062-1 (DE-588)4048476-2 |
| title | Franchising for dummies |
| title_auth | Franchising for dummies |
| title_exact_search | Franchising for dummies |
| title_exact_search_txtP | Franchising for dummies |
| title_full | Franchising for dummies by Michael Seid and Dave Thomas |
| title_fullStr | Franchising for dummies by Michael Seid and Dave Thomas |
| title_full_unstemmed | Franchising for dummies by Michael Seid and Dave Thomas |
| title_short | Franchising for dummies |
| title_sort | franchising for dummies |
| topic | Franchises (Retail trade) Franchising (DE-588)4018062-1 gnd |
| topic_facet | Franchises (Retail trade) Franchising Ratgeber |
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