Franchise Bible: How to Buy a Franchise or Franchise Your Own Business

by Rick Grossmann, Michael J. Katz

Overview

In this easy-to-read guide, franchise expert Rick Grossmann and franchise attorney Michael J. Katz impart decades-worth of insight and advice on what it takes to make your franchise operation successful. Grossmann and Katz share expert tutorials, tricks of the trade, and access to sample franchise documents, checklists, and questionnaires designed to get you organized, support you through the process and get your new franchise off the ground.

If you’re thinking of buying a franchise, you’ll learn how to:

Determine if running a franchise is right for you

Navigate franchise disclosure documents and agreements

Identify the signs of a good franchise opportunity

If you’re thinking of franchising your existing business, you’ll learn how to:

Pick the best method for expanding your business

Understand the keys to establishing a successful franchise system

Evaluate potential franchisees and grow your franchise Whether you want to buy a franchise or franchise your own business you’ll learn what to expect, how to move forward, and how to avoid costly mistakes—making Franchise Bible required reading.

Product Details

ISBN-13:	9781642011388
Publisher:	Entrepreneur Press
Publication date:	04/20/2021
Edition description:	9th ed.
Pages:	368
Sales rank:	191,240
Product dimensions:	10.70(w) x 12.10(h) x 9.90(d)

About the Author

Rick Grossmann is co-founder and managing partner of My Franchise Hub (myfranchisehub.com). Mr. Grossmann has been involved in the franchise industry since 1994. He franchised his first company and grew to 49 franchised locations in 19 states during the mid to late 90’s. He served as the CEO and primary trainer focusing on franchisee relations and creating tools and technologies to increase franchisee success. Rick franchised his second company in 2003. He served as the company's CEO and Marketing Director. He developed the high tech/high touch franchise marketing and sales system selling over 150 franchises in North America capturing ranking in Entrepreneur Magazine’s Top 500 franchises in less than three years. Grossmann has also served as a business and marketing consultant to small companies and multimillion dollar enterprises. He also consulted Franchisees and prospective Franchisees, Franchisors, and companies seeking to become Franchisors. He was a co-author on the previous edition of Franchise Bible.

Michael J. Katz is an attorney specializing in franchise law. He is a published author, lecturer, and teacher, as well as the senior partner of Corporon & Katz, a law firm specializing in franchise, business, and real estate law.

Table of Contents

Foreword Tracy Stapp Herold, Entrepreneur Magazine's Franchise 500 Editor 1

Preface 3

Part 1 Franchise Fundamentals

Chapter 1 The Basics 9

Chapter 2 Franchise Best Practices and Franchise Bible Proprietary Strategies 17

Chapter 3 Understanding Franchise Legal Documents and Legal Considerations 33

Part 2 Buying and Operating a Franchise (Becoming a Franchise Owner)

Chapter 4 The Changing Landscape of Franchise Marketing and Recruiting 61

Chapter 5 Choosing the Right Franchise Opportunity 71

Chapter 6 Legal Considerations 81

Chapter 7 Obtaining Start-Up Financing or Funding 103

Chapter 8 Choosing Your Site and Building Out Your Location 107

Chapter 9 Building a Winning Team 119

Chapter 10 Franchise Finance Basics 123

Chapter 11 Tips to Help You Launch, Grow, and Thrive 127

Part 3 Franchise Your Business (Becoming a Franchisor)

Chapter 12 Franchising Fundamentals 137

Chapter 13 Franchise Law Considerations 143

Chapter 14 Building A Strong Franchise Organization 153

Chapter 15 Strategize To Thrive! 157

Chapter 16 Building Your Franchise Community 163

Chapter 17 Franchise Marketing 167

Chapter 18 Final Thoughts on Franchising Your Business 179

Part 4 Appendices

Appendix A Franchise Disclosure Document 191

Appendix B Franchise Agreement 233

Appendix C State Franchise information Guidelines 305

Appendix D Directory of State and Federal Agencies 313

Appendix E Amended FTC Rule Regarding Contents of a Franchise Disclosure Document 319

Appendix F Franchise Resources 355

Appendix G Glossary of Terms-Franchise Nomenclature 359

Appendix H Veil of Protection 367

Appendix I Registration States and Filing States 369

Appendix J North American Securities Administrators Association (NASAA) 371

Appendix K NASAA Franchise Commentary 373

Appendix L Multi-unit Commentary 383

What People are Saying About This

From the Publisher

"Franchise Bible is the most comprehensive, step by step, go to guide for all things franchising. The best franchise book, bar none."
—Nick-Anthony Zamucen, Founder of Bio-One Inc.

"Franchise Bible is the roadmap that leads to franchising success. Now in its 8th edition, Franchise Bible has been the go-to franchising resource for decades. Rick Grossmann and Michael Katz have more than a half-century of franchise experience between them. The expertise that each brings to the industry is a huge win for anyone reading Franchise Bible. To your success!"
—Carolyn Miller, Founder of the National Franchise Institute

"If you could earn a degree in Franchising, this would be the textbook. Whether you are considering franchising as your expansion option, or managing a mature franchise system, Franchise Bible is the most organized, well communicated franchise tool available. If you are serious about franchising, start here, and keep this book handy as you work through each stage of development; referencing each new section a second time as you progress. It will change the decisions you make and greatly reduce your upfront investment, while increasing your probability of success in the shortest amount of time."
—Chris Burrei, President of Franchise Development of GMXR Inc.

"The resources in Franchise Bible are extremely valuable to us as franchise owners. When combined with our proven franchise system and leadership we are armed with all of the best tools for success."
—Gregg and Cheryl Chiasson, Instant Imprints South Metro Franchise Owners

"Franchise Bible has saved our company valuable time and thousands of dollars! The strategies in this book are a must for anyone entering the franchise world." —Dr. Kent Lauson, Founder of NEO Orthodontics Franchising

"Anyone considering buying a franchise or franchising their business should start with the Franchise Bible. This easy to use reference guide will highlight the legal, financial, and structural details to consider before taking that important first step. Already a franchisee or franchisor? Solidify your strategy with this guide. Rick Grossmann and Michael Katz generously share their expertise in such a relatable manner that everyone can find value in its content. This guide is a must for your business reference library."
—Tricia Petteys, Executive VP Operations of Payroll Vault Franchise

"Franchise Bible is the single, best source of information, whether you’re considering buying a franchise or building a franchise organization. The depth of experience that Rick Grossmann and Michael Katz provide the reader is concise, organized, and thorough. Look no further than this comprehensive and easy to read guide.”
—Doug Root, CEO of JungleQuest, Inc. Franchising

"The culture your organization needs to become a successful franchise starts at the top, and this book helps guide you down the right decision path to be creative within best practices Rick and Michael have established. In the Franchise Bible they stress originality; build and buy into something that is original and creates value. In our swim school business we created something that was never done before and could be duplicated; we also realized the need for every person to be able to swim. Franchise Bible helps me focus on our needs as a franchisor and reawakens me to the needs of the franchisee."
—Michael Mann, President of SwimLabs

"Having consulted on and developed multiple franchise units for over 10 years, we can honestly say the practical advice in the Franchise Bible provides a clear and comprehensive perspective of the multiple aspects of franchising that one needs to be a successful franchise owner. Wish we had this when we started!"
—Erik and Wendy Skaalerud, Colorado Area Developers and Franchise Owners of Orangetheory Fitness, Capital Lending Solutions Principals