The Franchisee Handbook

Mark Siebert

Description

Is Franchising Right For You?

Why start a business from scratch when you can have a piece of the greatest expansion strategy ever conceived? Franchising is BIG and getting bigger in every sector—from restaurants and coffee chains to pet care and insurance. There is a franchise for everything and everyone.

As a potential franchise owner, you can be in charge of your own success while being supported by a known brand. Franchising gives you that ability, along with the satisfaction that comes only with building something that can last a lifetime and beyond. And, if you are successful, you eventually stop sweating the details and have the freedom to enjoy your life in a way that most around you cannot.

In The Franchisee Handbook, franchise expert Mark Siebert walks you through the process of vetting and buying a franchise, helps you ask the right questions of franchisors and yourself, and gives you the resources you need to decide if franchising is right for you. Siebert shows you how to do your homework before making what could be the greatest financial decision of your life. You will learn how to:

• Accurately assess the risks of buying a franchise
  
• Determine if a franchise is a good fit for your personal goals
• Research and vet potential franchise opportunities
• Create a startup plan that meets your business goals
• Prepare your franchise for success

Why dream about owning a franchise when you can take concrete steps to make it happen today? With The Franchisee Handbook as your guide, you have the power in your hands to start your own franchise journey right now.

Sujets

• Entrepreneuriat
• entrepreneur
• Emprendedor
• Franchise
• Business
• FDD
• Economics
• International Franchise Association
• Disquete
• Employabilité, métiers et formations
• Franchises

Informations

• Publié par: Entrepreneur Press
• Date de parution: 22 janvier 2019
• Nombre de lectures: 0
• EAN13: 9781613083994
• Langue: English

Extrait

The Franchisee Handbook is jam packed with great advice to help steer prospective franchisees into making a well-informed decision as to which opportunity might suit them best and, more importantly, helping them avoid opportunities that are not a good fit.
-S ETH B RINK , G YRO S HACK
Having worked with Mark on multiple franchise opportunities,
I know how important it is for franchisees to understand what they are getting into before they buy. This book provides prospective franchisees with a great roadmap to guide them through the process of making one of the biggest financial decisions they will ever make.
-T OM R YAN, VICE PRESIDENT OF DEVELOPMENT , CD O NE P RICE C LEANERS
As both a franchisee and as a franchisor, I can attest to Mark s philosophy that there is nothing more important than ensuring the franchisee and franchisor are a good fit for each other. The lessons in this book should be taken to heart by anyone seriously considering the purchase of a franchise.
-R AY W ILEY, PRESIDENT AND FOUNDER , H OT H EAD B URRITOS AND R APID F IRED P IZZA
The Franchisee Handbook will take you step-by-step through the process of evaluating franchise opportunities from a more objective viewpoint so you can better evaluate how a particular franchise will work for you and your unique circumstances.
-S COTT L EHR, EXECUTIVE VICE PRESIDENT OF DEVELOPMENT, MARKETING, AND CONFERENCES FOR THE I NTERNATIONAL F RANCHISE A SSOCIATION
The process of investing in a franchise can be difficult to navigate-both for the prospective franchisee and for the franchisor. Mark s book is designed to help you better understand the complexities of this investment that could well alter the course of your life.
-D AVE P AZGAN , CEO, 101 M OBILITY
The Franchisee Handbook provides those who are planning to franchise with a systemized approach to evaluating both themselves and the franchises they are considering. It is an invaluable tool for every would-be franchisee.
-N ICK F RIEDMAN, COFOUNDER AND PRESIDENT , C OLLEGE H.U.N.K.S. H AULING J UNK
Mark s book will show you how the best franchisors attempt to qualify their franchisees and will provide you with your own framework to evaluate the fit of various franchisors from your perspective. It is an invaluable tool for anyone thinking of buying a franchise.
-S COT C RAIN, VICE PRESIDENT OF FRANCHISEE RELATIONS , A UNTIE A NNE S S OFT P RETZELS
As former franchisees, we can attest to the importance of knowing how to look before you leap. The Franchisee Handbook provides an invaluable framework for that analysis-both looking at the franchisor and looking at your own capabilities. It is a great first step toward understanding how franchising will work for you.
-C YNTHIA AND S TEVE C LARKIN, FORMER FRANCHISEES
With over 3,000 opportunities to choose from, the first-time franchisee may easily find the task of finding that perfect franchise daunting. The Franchisee Handbook provides a roadmap to narrowing the field to a manageable number and provides a framework for the kind of diligence and self-examination that will improve anyone s chances of success.
-A LLAN Y OUNG, COFOUNDER OF S HELF G ENIE
The Franchisee Handbook provides the prospective franchisee with the tools they need to examine the opportunities they are considering and a framework for understanding how they will fit within a particular franchise system. It is a must read for anyone considering a franchise investment.
-P ETER R OSS, COFOUNDER AND CEO OF S ENIOR H ELPERS
The Franchisee Handbook is an essential resource for the would-be franchisee. While I was happy with the franchise I purchased, if I had read this book in advance I might have gone a different direction that would have better suited me personally. I highly recommend this book for anyone who is seriously considering an investment in a franchise.
-B ARRY F ALCON, FORMER FRANCHISEE AND COFOUNDER OF TWO SUCCESSFUL FRANCHISE COMPANIES
THE FRANCHISEE HANDBOOK
EVERYTHING YOU NEED TO KNOW
ABOUT BUYING A FRANCHISE
MARK SIEBERT
CEO OF IFRANCHISE GROUP
Entrepreneur Press
Entrepreneur Press, Publisher
Cover Design: Andrew Welyczko
Production and Composition: Eliot House Productions
2019 by Entrepreneur Media, Inc.
All rights reserved.
Reproduction or translation of any part of this work beyond that permitted by Section 107 or 108 of the 1976 United States Copyright Act without permission of the copyright owner is unlawful. Requests for permission or further information should be addressed Entrepreneur Media Inc. Attn: Legal Department, 18061 Fitch, Irvine, CA 92614.
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional services. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
Entrepreneur Press is a registered trademark of Entrepreneur Media, Inc.
ebook ISBN: 978-1-61308-399-4
CONTENTS
FOREWORD by Robert Cresanti, CFE, President CEO International Franchise Association
INTRODUCTION
Freedom Is in the Eye of the Beholder
Risk vs. Return
How to Use This Book
Chapter 1
THE FRANCHISE MYTH
Busting the Franchise Myth
No Longer a Punchline
How Does It Work?
Why Does Franchising Work?
How Franchising Benefits Franchisees
When Does It Not Work?
What s in It for the Franchisor?
Other Benefits
Don t Believe the Statistics
Let Risk vs. Reward Be Your Guide
THE BOTTOM LINE: Success in Business Is Not a Matter of Luck
Chapter 2
THE SECRET INGREDIENT: YOU
Know Thyself!
Are You an Entrepreneur?
Rule Breakers Make Lousy Franchisees
You Are Not Getting Married
THE BOTTOM LINE: Don t Kid Yourself
Chapter 3
UNDERSTANDING RISK
Evaluating Your Risk Tolerance
Fads
Regionality, Seasonality, and Predictability
Concept and Market Shifts/Risks
Regulations
Competition and Barriers to Entry
Recession Resistance
Big vs. Small Franchise Companies
Capital Risks
Management Risks
THE BOTTOM LINE: Use Murphy s Law to Narrow Your List
Chapter 4
NARROWING THE FIELD
Using a Goals-Oriented Approach
Create a Goal Map
Consider Your Capital
Leverage Is Like Wine-Wonderful if You Know Your Limit
How Does It Fit on You?
Developing Your Short List
Only Fools Fall in Love with the Product
Supplement Your Research
THE BOTTOM LINE: You Cannot Examine the Universe
Chapter 5
A DEEPER DIVE
Take the First Step: The Initial Franchisor/Franchisee Interview
Franchise Marketing Materials and Messaging
What to Look for in the Franchise Disclosure Document
The Franchise Agreement
THE BOTTOM LINE: The More Homework, the Better
Chapter 6
MEETING THE FRANCHISOR
The Award of a Franchise
Trust, But Verify
Meeting the Team
Discovery Day
THE BOTTOM LINE: Understand What You Will Do, and With Whom
Chapter 7
HOW MUCH CAN I MAKE?
Analyzing the FPR
Don t Do Anything Till You ve Crunched the Numbers
Deriving Numbers When There Is No FPR
Nonrevenue Elements of Your Income Statement
No One Can Eat Just One
Talk to Those Paid to Say No
THE BOTTOM LINE: Check Your Homework
Chapter 8
MAKING THE LEAP
ROI Analysis as a Means of Measuring Like Returns
Measuring Risk
Understand Your Obligations
Try to Negotiate a Stop-Loss Provision
THE BOTTOM LINE: Get a Fire in the Belly-Then Fire Your Boss
Chapter 9
THE DIE IS CAST
Creating the Franchisee Entity
Obtaining Insurance
Site Selection and Lease Negotiation
Finalizing Your Financing
Facility Design
Facility Construction
Setting Up a Home Office
Accounting and Payroll Processes
Creating an Initial Operating Budget
Integration with Key Suppliers
Hiring and Training Your Team
Planning Initial Marketing Activities
Training at the Franchisor s Location
Training at Your Location
Priorities in the Early Months
THE BOTTOM LINE: Make Yourself Obsolete and Your Managers Redundant
Appendix A
RESOURCES
Franchise Directories
Franchise Portals
Trade Shows
Associations and Helpful Organizations
Appendix B
WHERE TO OBTAIN AN FDD
Appendix C
SAMPLE CONFIDENTIAL INFORMATION REQUEST FORM (CIRF)
GLOSSARY
ACKNOWLEDGMENTS
ABOUT THE AUTHOR
INDEX
FOREWORD
BY ROBERT CRESANTI, CFE, PRESIDENT CEO INTERNATIONAL FRANCHISE ASSOCIATION
H ow do I know if owning a franchise is right for me? In my role as President and CEO of the International Franchise Association (IFA), I am asked that question all the time. And equally often I am asked, What is the best franchise to buy? How much does it cost to buy a franchise? and Is it better to buy a franchise or start my own business? The Franchisee Handbook will help you with these questions and many more you may not even realize you need to ask.
Franchising accounts for nearly 760,000 franchise establishments that support 8.1 million direct jobs, $757 billion of economic output for the U.S. economy and 3 percent of the Gross Domestic Product (GDP).
The International Franchise Association represents franchise companies in over 3