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Table Of Contents

Chapter 1
The Birth of Franchising
So What Is a Franchise, Anyway (And What’s the Big Deal)?
The effects of franchising on modern business
The success of franchising for business owners
What’s the Big Deal about Brand?
The Franchise Siblings: Two Types of the Same Blood
Product distribution franchises
Business format franchises
The Roles and Goals of Franchisors and Franchisees
Looking at the world through franchisor lenses
The franchisee’s end of the bargain
The Nuances of the Franchisor/ Franchisee Relationship
Franchisor as partner
Franchisor as parent
Franchisor as dictator
A Reality Check Before You Dive In: Franchises and Profits
Oh, Industry!
Letting source guides drive your train
Paying attention to what’s hot
Flying solo: Single-unit franchises
Growing a family, one franchise at a time
Playing in the big leagues: Master franchising
The hired (commissioned) gun: Area representatives
Buying Used (But Promising) Goods: Retrofranchising
Before All Else, Consider the Pros and Cons
Advantages of franchise ownership
Disadvantages for franchisees
Making Sure You’re Realistic about Your Role
Staring Hard at the Mirror: A Self-Evaluation
Are you willing and able to learn new skills?
Would you rather give or take orders?
Are you ready to say goodbye to corporate perks?
How’s your health?
Do you like people?
How much can you dish out and take on?
How are your family and friends responding?
Making the Choice: Deciding Which Business Is Right for You
Finding Good Sources of Information about Available Franchises
Print directories
Consumer business publications
Trade shows and expositions
The Internet
Working with a Franchise Broker
Deciding Whether to Buy Old or New
Sizing up an existing franchise
Getting some details before you start from scratch
Evaluating a Franchisor’s Services
Going Back Home and Eyeing Locations
Examining Your Current Finances
Finding Out What a Franchise Costs
The big picture: What your start-up costs might look like
Initial expenses to set up shop
The up front and ongoing costs of hired help
Doing Your Homework before Holding Out Your Cup
Creating a business plan
Projecting income and cash flow
Raising the Capital
Avoiding debt
Visiting the bank
Finding an angel investor
Seeking other financing strategies
The History behind the UFOC
The Laws behind the UFOC
Understanding the UFOC
What you’ll see on the UFOC
The UFOC, point by point
Key elements in the UFOC
Proposed changes to franchise rule
How much can I make? The earnings claims
Surveying the Paperwork: Evaluating a Franchise Agreement
Enlisting the help of an attorney or a financial advisor
Negotiating with a Franchisor
The Start-Up: Setting Your Franchise’s Wheels in Motion
Surveying Your Options for Locale
Common site options
Working from home
Opting for alternate, or off-street, sites
Landing near another franchise: Dual branding
Setting Up Shop: Finding Your Franchise’s Habitat
Finding out what constitutes a good site
Using the franchisor as your compass
Using specific data to evaluate a site on your own
Avoiding encroachment
Securing Your Space after Finding Your Piece of Heaven
Understanding and signing a lease
Building a location
Getting the Goods: Merchandise and Supplies
Knowing who to buy from when your franchisor is involved
Finding your own suppliers and goods
Receiving Merchandise
Receiving deliveries
Checking the goods after they’re in your location
Verifying invoices
Maintaining Inventory
Back of the house
Front of the house
Getting Good Training Before and After You Open Your Franchise
Getting good initial training
Ensuring that you receive effective ongoing training
Finding Folks Who Fill the Bill
Finding the right employees
Following equal opportunity guidelines
Conducting the Interview Process
Before you don the suit and tie
Asking the right questions
Continuing an interview
After all the interviews
Leading the Troops Effectively
Grabbing the torch: Training your team
Holding on to your employees
Fostering a good work environment
Ensuring Workplace Safety
Playing by the Rules
Meeting franchise system standards
Supporting and watching the system
Attempting to change the system
Building a Relationship with Your Franchisor
When conflicts occur
Reaching Out to Your Fellow Franchisees
Joining advisory councils and associations
Being number one in a class of one
Creating an Effective Marketing Plan
Evaluating National and Local Advertising Strategies
Local advertising options
All Hail Customer Service
Knowing your customers
Showing honesty and integrity
Looking beyond your cash register
Considering Whether Multiple Ownership Is Worth Your While
The high feats
The downbeats
Reviewing Your Personal and Business Resources
Taking a hard look at your business and finances
Understanding Your Purchase Options
Starting from scratch
Buying multiple units
Buying a franchise from another franchisee in the system
Retrofranchising: Buying a company-owned location
Converting a competitor’s location
Acquiring an area
Investigating Endlessly — Again
Deciding Whether to Mix Industries or Brands — or Neither
Buying more from the same franchisor
Starting fresh with a new company
Siamese Brands: What Co-Branding Can Do for You
Setting up a one-stop shop
Combining your resources
Going for Round Two (Or Three or Four)
Knowing how much the fee will cost you
Selling Out
Getting the most return on your investment
Figuring out how much your business is worth
Playing by the franchisor’s rules
Selecting a sales method
Now That the Party’s Over . .
Reflecting on your experience
Making your next move
The Feasibility of Turning Your Tiny Garden into a Farm
Deciding whether your business should be franchised
Putting the legal requirements in context
Looking at the Criteria for Becoming a Franchisor
Do you have an operating business?
Are you committed to franchising?
Do you have enough potential franchisees?
Do you have a system?
Can you teach others how to operate your system?
Are your products and services any good?
Beginning Your Franchise Program: Who Should Take the Reins?
Doing it yourself: Success or suicide?
Finding professional advisors to guide your way
Passing Go with Your Franchise Idea
Brainstorming a strategic plan
Fleshing out your strategies
Creating a plan for action
Developing the legal documents
Forming the Essence of the Ideal Franchisee
Focusing Your Market Strategy
Reeling In Great Franchisees
Defining the franchisee profile
Reaching out through the right medium
Accounting for Diversity in Franchising
Developing the Recruitment Organization
The franchise development staff
The screener, or administrative assistant
The franchise development staff
The screener, or administrative assistant
The compliance officer
The approval committee
Recruiting Franchisees in Just Ten Steps
Steps 1–4: The introductory phase
Step 5: Discovery Day
Step 6: Follow up after Discovery Day
Step 7: Follow up again
Step 8: Make a decision
Step 9: Close the prospect
Step 10: Complete the process
Working the Validation Process
The Franchise Sales Presentation
Finalizing the Selection Process
Heeding the Expansion Rules of the Road
Taking care of housekeeping
Understanding the markets
Establishing a network
Taking Your Franchise Abroad: Knowing What You’re Getting Into
Be prepared to cough up mucho moolah
Understand the necessity of hiring a good attorney
Consider the implications of language and culture
Remember that you’re still under laws and taxes
Deciding Whether to Leave Your Turf
If You Decide to Cross Borders . .
Finding the right partner
Entering a foreign market
Negotiating the deal
Bringing Foreign Franchises to the United States
Make Sure That You Have Enough Money
Follow the System
Don’t Neglect Your Loved Ones
Be an Enthusiastic Operator
Recruit the Best Talent and Treat Them with Respect
Teach Your Employees
Give Customers Great Service
Get Involved with the Community
Stay in Touch with Your Franchisor and Fellow Franchisees
Watch the Details
Do You Know the Franchisor?
Personal Inventory: Are You Ready to Be on Your Own?
Can You Afford a Franchise?
Do You Have the Support of Your Loved Ones?
Do You Understand the Terms of the Contract?
Are the Other Franchisees Happy with Their Investments?
Does the Franchisor Have a History of Litigation?
Can You Make Money with This Franchise?
Does the Franchisor Understand Franchising?
System Requirements
System Requirements
Using the CD
What You’ll Find on the CD
Chapter files
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Franchising for Dummies 2eme Ed. - Seid & Thomas

Franchising for Dummies 2eme Ed. - Seid & Thomas

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Published by: soundistik on Sep 02, 2011
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