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Street Smart Franchising: A Must Read Before You Buy a Franchise!

Overview


Experienced franchisees and franchisors tell entrepreneurs what they need to know before they buy a franchise. Second edition includes a sample copy of the entire UFOC plus 40% new and updated examples. This straight-shooting franchise guide goes beyond the “how to” to teach potential franchisees what to expect when starting a franchise. Real life stories from the trenches illustrate how to cope with the difficulties a franchise presents. The author reveals the personality types most likely to succeed at ...
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Street Smart Franchising

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Overview


Experienced franchisees and franchisors tell entrepreneurs what they need to know before they buy a franchise. Second edition includes a sample copy of the entire UFOC plus 40% new and updated examples. This straight-shooting franchise guide goes beyond the “how to” to teach potential franchisees what to expect when starting a franchise. Real life stories from the trenches illustrate how to cope with the difficulties a franchise presents. The author reveals the personality types most likely to succeed at franchising, and identifies entrepreneurial traits that may increase risk of failure. Plus, it takes an in-depth look at the research and investigation of a franchise, something glossed over in most franchise books.
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Product Details

  • ISBN-13: 9781599184111
  • Publisher: Entrepreneur Press
  • Publication date: 4/8/2011
  • Edition number: 2
  • Pages: 256
  • Sales rank: 268,461
  • Product dimensions: 5.90 (w) x 8.90 (h) x 0.80 (d)

Meet the Author

Joe Matthews has 20 years of experience in all aspects of franchising. He has been featured in Entrepreneur, Franchising World, Fortune Small Business and other respected publications and delivers 30 training workshops, presentations and speeches each year.

Don DeBolt is a former president of the International Franchise Association.

Deb Percival works in franchise development.

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Table of Contents

Introduction ix

Part 1 What You Need to Know Before You Start Looking 1

1 What Is Franchising 3

Franchising as a Distribution Model 3

A Better Definition: Franchising as a Relationship 4

Franchising as a Strategy to Achieve an Objective 5

Franchising as a Calling 5

The Best Definition: Franchising as One Body 5

The Bottom Line 7

How Many Franchisees Define Winning 7

Why Do Companies Franchise Their Businesses? 8

Spotting a High-Road Franchisor 12

Win-Lose Franchising 15

Developing Peak-Performing Franchisees 19

Building a Strong Franchisee Community 22

2 Why Should I Invest in a Franchise? 25

The Path of the 99% 26

The Path of the 1% 27

The Voice of the Inner Critic 29

The "Right" Business 30

The "Right Time" to Start a Business 30

The Bottom Line 33

The Differences Between the 1% and 99% 33

How to Join the 1% 34

Creating Your Desired Future 35

3 Understanding Your Behavior Style 39

Behavior Styles 39

How Does DISC Work? 44

You Are an Action Hero If … 45

You Are a Comedian If … 50

You Are a Faithful Sidekick If … 54

You Are a Private Eye If … 58

What Character Do You Play? 62

How Can I Predict Others' Styles? 64

4 What Does Winning Look Like? 62

Goal Setting and Benchmarks 63

Goals Schmoals! Why Should I Care About Goals 71

Making Your Desired Future S.M.A.R.T 73

How Do You Eat an Elephant? 75

The Seven Truths About Real Time 77

5 What Does It to Take to Win as a Franchisee? 93

The KASH Model of Success 98

The Costs of Poor Performance 102

The KASH Deficit Analysis 104

What Is Your Starting KASH Balance? 108

6 The Learning Curve of a Franchisee: From the Launch to the Zone 111

Three Modes of Franchisor KASH Distribution 114

The Launch 121

Strategies for a Successful Launch 125

The Grind 126

Strategies to Successfully Navigate The Grind 138

How Franchisors Can Help You 140

Winning 141

Strategies for Successfully Navigating from Winning to Peak Performance 146

How Franchisors Can Help You 147

The Zone 147

How the Franchisor Can Help You 150

The Goodbye 151

How the Franchisor Can Help You 156

7 The Evolution of the Franchisee-Franchisor Relationship 157

The Glee Stage 159

The Fee Stage 161

The Me Stage 163

The Free Stage 165

The See Stage 167

The We stage 169

Part 2 Investigating Franchises 175

8 Locating Franchise Opportunities 177

Franchise Opportunity Websites 178

Franchise Brokers 179

Magazines 180

Franchise Expos 180

Google and Other Search Engines 181

9 Following a Six-Step Franchise Investigation Process 185

Overview of the Six-Step Franchise Investigation Process 188

Step 1 The Initial Interview 191

Step 2 Qualification 198

Step 3 Reviewing the FDD and Franchise Agreements 204

Step 4 Franchisee Validation. Data Gathering, and Analysis 223

Step 5 Attending a Discovery Day or Visiting the Home Office 235

The Four Franchisor Corporate Cultures 238

The Bureaucracy 239

Benevolent Dictatorship 241

Command and Control 244

Achievement 248

Decision-Making Checklist 252

Step 6 Making an Investment Decision 255

Final Decision Worksheet 258

Conclusion 258

Index 261

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Sort by: Showing all of 2 Customer Reviews
  • Posted May 29, 2012

    "Starts out a little rough. Like a poorly executed Anthony

    "Starts out a little rough. Like a poorly executed Anthony Robbins imitation. But when it finally gets to the stated topic of buying, owning & operating a franchise, you can better appreciate why the authors started where they did. Success in ANY endeavor is heavily dependent on a good match between an individual's personal aptitudes and the skills, etc. demanded by the particular business. Good food for thought regarding one's approach to work and careers in general.

    1 out of 1 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted December 25, 2011

    Must read

    Crucial for anyone considering owning their own franchise business!

    Was this review helpful? Yes  No   Report this review
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