Franchise Times Guide to Selecting, Buying and Owning a Franchise

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Overview

Buying a franchise can be a handy shortcut to the American dream of owning your own business. But there are dangerous pitfalls—and possible drawbacks to even the best franchise deals. Here, for every prospective franchisee, is authoritative advice from a trustworthy source. The experts of Franchise Times offer their picks of the top 200 franchises and 100 up-and-comers, complete with contact information, financial requirements, fees, and more. There are practical tips on everything from hiring and marketing to financing your franchise, leasing a retail space (or setting up a home office), and deciding if you should buy or run a franchise with your spouse. With anecdotes and advice from ...

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More About This Book

Overview

Buying a franchise can be a handy shortcut to the American dream of owning your own business. But there are dangerous pitfalls—and possible drawbacks to even the best franchise deals. Here, for every prospective franchisee, is authoritative advice from a trustworthy source. The experts of Franchise Times offer their picks of the top 200 franchises and 100 up-and-comers, complete with contact information, financial requirements, fees, and more. There are practical tips on everything from hiring and marketing to financing your franchise, leasing a retail space (or setting up a home office), and deciding if you should buy or run a franchise with your spouse. With anecdotes and advice from current franchisees and franchisors, this is a book every would-be entrepreneur should read before signing a contract.

Editorial Reviews

Library Journal

Bennett, a regular contributor to Franchise Times magazine, joins with Babcock (International Inst. for Franchise Education, Nova Southeastern Univ.) to offer a comprehensive volume on the subject of selecting and owning a business franchise. Structured in five parts, the book walks readers through determining if franchising is right for them, describing the different types of franchises (fast food, retail, etc.), the investigation, the buying process, and the immediate post-purchase period. It closes with a partial directory of franchises pulled from the top performers list of the Franchise Times. There's a strong emphasis on the time and capital investment involved, which is significant, and the authors don't shy away from discussing the stress franchising can put on relationships. Still, the consequences of not succeeding don't get much attention, and the experiences of top franchisers are strangely absent (there are no testimonials from any of the listed top-ten fast food franchises). As a starter guide for someone looking at franchising as an investment opportunity, however, this book is perfectly serviceable and is recommended for larger collections.
—Brian Walton

Product Details

  • ISBN-13: 9781402743931
  • Publisher: Sterling
  • Publication date: 2/5/2008
  • Pages: 416
  • Sales rank: 308,571
  • Product dimensions: 7.40 (w) x 9.10 (h) x 1.30 (d)

Table of Contents


Foreword   John Hamburger     xi
Acknowledgments     xiii
Getting Started: Finding the Right Franchise for You     1
Who Are Today's Franchisees?     3
Unlocking Surprises
Executive Office to Print Shop
Tropical Isles and an Indiana Farm
An Alternative to Travel
Franchising's Appeal
Just What Is Franchising, Anyway?
How Does Franchising Work?
So, What's in It for Me?
Franchising's Challenges
Are You Meant to Be a Franchisee?     18
An Adventure-or a Job Replacement?
The Independence Seesaw
Other Important Personality Traits
Can You Afford to Buy a Franchise?
Check Your Expectations at the Door
Just Who Is Going to Answer the Phone and Mop the Floor?
A Final Caveat on Franchisee-Fitness
Beyond Burgers: Consumer-Oriented Franchises     34
A Franchise to Fit Every Fancy
Fast Food
Sit-Down Restaurants
Retail Food
Baked Goods
Retail Franchises
Lodging
Real Estate
Building and Construction
Sports and Recreation
Travel Franchises
Service-Oriented Franchises: Fixing Everything from Cars to Computers     65
General Service Franchises
Maintenance Services
Automotive Franchises
Services to Other Businesses
Child-Related Franchises
Education-Related Franchises
Finding Your Perfect Franchise Fit     87
Operating a Franchise Near Your Washer and Dryer
Location, Location-Even If It's Just Down the Hall
Should You Start a Franchise with Your Spouse orPartner?
Franchises That Ride the Trends
The Task Ahead
Beginning Your Franchise Search     103
Print Directories: All the Information Franchisors Want You to Know
Finding Franchises Online
Shopping for Franchises at the Mall
Shopping by Phone
Franchise Trade Shows
You're Interested... Now What?     116
Contacting Franchisors on Your Own
The Follow-Up: Waiting by the Phone
Getting Serious
The Second Phone Call
A Personality Check
Using a Broker to Help You Find Franchises
Other Franchise Salespeople
The Nuts and Bolts: Investigating and Buying a Franchise     133
The UFOC: Not Exactly Beach Reading     135
From Minnie Pearl to Ronald Reagan
What to Look for When Reading a UFOC
Is the UFOC Fair?
Checking Out Your Franchise of Choice     152
Checking Out the Franchisor Online
Checking Out the People Running the Franchise
Checking Out a New Franchise System
Checking Out the Franchisor's Industry
Checking In with Current Franchisees
Contacting Franchisees Who Have Left the System
Checking Out a Franchise from the Parking Lot
Trying the Franchise On
Other Tips for Investigating a Franchise
Discovery Day-or the Time I Almost Bought a Sub Shop     169
On with the Show
Behind the Choreography
When Should You Attend a Discovery Day?
Rules for Attending a Discovery Day
Things the Franchisor May Not Want You to Discover
Variations on the Discovery Day Theme
Franchise Attorneys: Pay Now-or Pay More Later     178
Beyond a Good Night's Sleep
Contract Review and Negotiations
What Will It Cost?
Financing Your Franchise     187
So, Can I Make Any Money?
Getting Ready for the Loan Process-at Home
Choose Your Franchise Carefully
Finding a Lender: Start with Your Franchisor
Finding a Loan on Main Street
SBA-Guaranteed Loans
Persistence Pays
Paying Someone Else to Do the Legwork
Do You Want to Rent That Fryer?
Betting Your Nest Egg on a Franchise
Borrowing from Uncle Alfred
Getting Ready for Business: How to Hit the Ground Running     201
Franchisee Training (Yes, There Are Tests)     203
Getting Somewhat Trained at Installing Bathtub Liners
Who Pays for All This?
Making Italian Meatloaf for the Masses
Getting the Most Out of Your Training Experience
Training Never Stops
Finding a Home for Your New Enterprise     213
Sidestepping the Process
Searching for a Site
Building Out Your Space
Letting Others Do the Dirty Work
Getting Your Franchise Up and Running     226
New or Used Equipment?
Setting Up Your Business
Beginning the Selling Process-Before You Have Something to Sell
Hiring Employees to Help You Run Your Franchise
Opening Day Countdown
After Opening Day: Keeping Those Customers Coming Back
Your Franchise Ad Fund
Promoting Your Franchise on Your Own
Franchising Today...and Tomorrow     251
Trouble in Paradise: Keeping the Peace with Your Franchisor     253
So, What Can Go Wrong?
Terminations: Getting Those Signs Down
What If You, Too, Fall Behind in Your Royalties?
When a Dispute Can't Be Settled
The Diverse Faces of Franchising     265
Why Are Women and Minorities Underrepresented in Franchising?
Providing a Leg Up
Color-Blind Applications
Women and Franchising
Veterans and Franchising
The Roles You Can Play in Franchising's Future     279
Vehicles for Multiple-Unit Franchising
Adding More Units
Operating More Than One Brand
Combining Two Concepts
Becoming a Franchisee Leader
The Future of Franchising
Your Future in Franchising
Franchise Company Directory     291
Explanation of Terms
How the Directory Is Organized
Directory By Category     295
Automotive Services and Rental
Lodging
Maintenance, Restoration, and Cleaning
Printing, Graphic Design, Signage, and Shipping
Real Estate and Travel Agencies
Restaurants and Prepared Food
Retail
Services
Directory By Minimum Investment     365
{dollar}0-{dollar}100,000
{dollar}100,000-{dollar}250,000
{dollar}250,000-{dollar}1 million
{dollar}1.0 million-plus
Alphabetical Listing of Franchises     376
Resources     381
Index     383

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  • Anonymous

    Posted January 28, 2008

    A 'must read 'for anyone interested in Franchising

    Julie Bennett has managed to capture the world of franchising, a subject so broad that it defies most attempts to do so. Franchising is a world of complexities and differences. Who knows what's right from a McDonald's, with it's thousands of franchisees to our Money Mailer, with but a few hundred. How can one be sure? We've been in the franchise business, as franchisee and as advertising agency to franchisors for more than 30 years. We think of ourselves as students of how franchising works. But, after reading Julie Bennett's book we realized just how much we don't know. This book is thorough, lucid and has both feet firmly entrenched in the realities from 'how do you know what's right' to 'Now that you're in it' and every step along the way. This book should be a must read for anyone contemplating a career in a franchise. It should be drummed into every student in every school that teaches franchising. We are glad to be part of the franchising world and wish there was a way to get every colleague to read her book. Bob and Linda Kaplan Money Mailer Franchisees

    Was this review helpful? Yes  NoThank you for your feedback.   Report this reviewThank you, this review has been flagged.
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