So You Want to Franchise Your Business?

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Overview

“This book is great. Definitively a best seller. It should be the number one consultation reference book for anyone related to the franchise business.

Congratulations Harold!”

Tomas, Chairman of The Taco Maker in San Juan, PR

Turn Your Business Into A Franchise

Harold Kestenbaum has worked with more than 100 businesses in their franchising efforts including such household names as Sbarro and Nathan's. A 30-year veteran of franchise law and a board member of four major franchise companies, he and Adina Genn, an award-winning journalist, have joined forces to teach you the secrets to turning your business into a successful franchise.

If you're interested in using this profitable strategy to expand your business, you'll get an in-depth look at how to evaluate your business concept, determine if your business is a candidate for franchising, implement the franchise process, and build a thriving franchise.

Well-known entrepreneurs who successfully franchised their business, including Subway co-founder Fred DeLuca and CEO of the Dwyer Group Dina Dwyer-Owens, offer detailed, in-the-trenches guidance and information. These experts speak frankly about the tactics you can use to market, sell, and build your franchise while offering insider advice to help you avoid the pitfalls of business growth.

Step-By-Step Guide To The Franchising Process
Low-Cost Ways To Grow A Franchise In The Startup Phase
Franchise A Concept For Less Than $100,000
Best Practices From Top Franchisors And Franchisees

Harold Kestenbaum has specialized in franchise law for over 30 years, working on more than 100 franchise concepts. The former franchise and general counsel to Sbarro Inc. and national franchisor of more than 900 restaurants, he currently serves as counsel to New York City law firm Ruskin Moscou Faltischek and sits on the board of directors of four major franchise companies.

Adina M. Genn is an award-winning journalist who has written for The New York Times and the Long Island Business News. In 2007, the SBA named her New York's Small Business Journalist of the Year.

Product Details

ISBN-13: 9781599181899
Publisher: Entrepreneur Press
Publication date: 7/8/2008
Edition number: 1
Pages: 260
Sales rank: 588,666
Product dimensions: 5.90 (w) x 8.90 (h) x 0.70 (d)

Meet the Author

Adina M. Genn is an award-winning journalist who has written for The New York Times and the Long Island Business News. In 2007, the SBA named her New York's Small Business Journalist of the Year.

Acknowledgments     IX
Foreword   Fred DeLuca     XI
Preface     XV
Why Franchise?
The Benefits of Franchising     3
In Summary     8
Not So Fast     9
In Summary     16
Not All Roses     17
The Importance of Personal Rewards     18
The Opposite of Cushy     21
Brand Consistency     21
Recalcitrant Franchisees     23
Lack of Funds     25
Not the Right Concept     26
In Summary     27
Moving Forward
The Right Advisors     31
The Business of Franchising Is Unlike Any Other     33
Finding the Right Franchise Attorney     35
Finding the Right Financial Advisor     42
The Real Estate Connection     43
Procurement Advisors and More     46
In Summary     47
An Operations Manual Is a Beautiful Thing     49
The Value of a Professionally-Prepared Manual     50
A Lesson in Excellence     51
You Get What You Pay For     52
Details, Details     53
A Never-Ending Cycle     57
In Summary     58
What Else Do I Need Before Bringing My Franchise to Market?     61
The Need for Consistency     63
The Importance of Buy-In     65
Give Them the Proper Tools     65
The Internet-A Powerful Marketing Tool     66
Language and Tone     68
The Best Marketing Tool Ever     68
Grassroots Marketing     69
Public Relations     70
Direct Mail     72
The Goodwill Advertising Budget     72
The Marketing Makeover     73
In Summary     74
Rolling It Out
"Selling" It     77
All Your Ducks in a Row     79
The Right Attitude     80
The Suitable Franchisee     81
The Right Fit     83
A Savvy Approach     86
The Importance of Allowing for Breathing Room     87
The Importance of Personality Profiling     88
Women and Minorities     89
Interviewing     89
The Review Committee     90
Communication     91
Discovery Day     91
A Word about Earnings Claims     92
Master Franchising     94
Financing     95
In the Beginning     96
Challenges for Startups     97
Once You Sell     98
For Those Who Have Made Mistakes in Selling Units     99
In Summary     99
Train 'Em     101
A Numbers Game     103
Critical Training Tips Before a Franchisee Opens a Unit     103
Training Practices for the Franchisee's Opening     111
Best Practices for Ongoing Training     113
Avoid These Mistakes     116
In Summary     118
A Perusable Website     119
That Global Presence     120
A Strong Website Entices both Prospective Franchisees and Customers     121
What Every Website Needs     121
In the Beginning     127
The Importance of Working with Someone Reliable     130
In Summary     131
Keeping It Going
Advertising, Marketing, and Public Relations     135
Ways to Build Buzz     136
Advertising     137
Internet Advertising     140
Media Coverage and Public Relations     141
A Word About Coupons     146
Grassroots Strategies     146
In Summary     150
Online Support      151
The Intranet as a Training Tool     152
A Matter of Convenience     155
A Caveat     155
The Intranet as a Communications Tool     156
For Franchisors     157
If at First You Don't Succeed     158
And Don't Forget Branding     158
Not Enough by Itself     158
In Summary     159
Fine-Tuning Your Program     161
Join a Professional Association     162
Build a Team     163
Consider the Company-Owned Store     165
Increase Your Offerings     165
Evaluate, Evaluate, Evaluate     165
Build a Culture     166
Achieve Unit Economics     168
"Never Sit in One Spot"     169
In Summary     169
Dealing with Recalcitrant Franchisees     171
Different Kinds of Wayward Franchisees     173
Your Options     173
Communications Go a Long Way     174
Audits     176
The Tough Questions     178
Prevent Issues Whenever Possible     178
Manage Their Expectations     180
Reasons to Stay Proactive     180
When Not Everyone Is On Board     181
In Summary     182
Best Practices of Top Performing Franchisees     183
Dr. Casey Cooper, Franchisee, It's A Grind     184
Laurie Baggio, Franchisee, 1-800-GOT-JUNK?     186
Jim Roark, Franchisee, Mr. Appliance     187
Mitch Cohen, Franchisee, Dunkin' Donuts and Baskin-Robbins     189
In Summary     190
Creating an Exit Strategy     193
Bullish on Franchising     194
Timing Is Everything     195
The Importance of Planning     195
Going Public     196
Other Options     196
In Summary     200
Franchise Disclosure Document     201
Guidelines for an Operations Manual     205
Operations Manual     206
Table of Contents     207
Franchise Resources     209
Experts     212
Glossary     217
About the Authors     221
Index     225

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Anonymous

Posted August 29, 2008

Enormously helpful

The authors offer terrific insight for anyone considering growing a business through franchising. The book is filled with useful tips from franchising pros like Jenny Craig and PostNet. Plus it's a good, fast read.
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Anonymous

Posted August 30, 2008

Very Worthwhile

I am in the final stages of franchising my business - late '08 or early '09, so I was interested in the subject of this book. I wish this book was available two years ago when I first had the thought. It would have saved me time, money, and a boatload of headaches.
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Anonymous

Posted August 29, 2008

Terrific tips

Terrific practical tips about franchising. The advise provided is exactly what I needed!
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Posted May 14, 2010

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So You Want to Franchise Your Business?

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Enormously helpful

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Terrific tips