Details

Franchise Management For Dummies


Franchise Management For Dummies


1. Aufl.

von: Michael H. Seid, Joyce Mazero

19,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 04.05.2017
ISBN/EAN: 9781119337232
Sprache: englisch
Anzahl Seiten: 432

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

<p><b>Learn what it takes to find, buy, and run a franchise -- and enjoy the rewards of being your own boss</b></p> <p>If you've ever visited a chain restaurant and thought, "I'd like to run one of these," you're among countless would-be entrepreneurs eager to be their own boss. <i>Franchise Management For Dummies</i> is a hands-on guide that provides clear and concise information on the issues involved in finding, buying, operating, and ultimately growing a successful franchise business. Geared toward both novices and experts in franchising, it's an essential guide to help prospective franchisees know what to look for in a great franchisor, and to show existing franchisees what great franchisors are providing their franchisees.</p> <p>Both emerging and experienced franchisors will gain an understanding about the proper methods of structuring, managing, and expanding their franchise systems. Social impact investors, donors, and NGOs can learn how franchising techniques can transform how they look at providing products and services at the base of the pyramid.</p> <p><b>Inside you'll discover:</b></p> <ul> <li>How to find a franchise that's right for you and the ideal location for it</li> <li>Where to find quality franchisors and understand the qualities franchisors look for</li> <li>How to gather information from franchisees</li> <li>A franchisor's mandatory legal obligations to prospective franchisees, the franchise disclosure document (FDD), and working with franchise professionals</li> <li>How to take a realistic look at your finances and what capital you'll need to buy and launch a franchise</li> <li>Develop strategic advertising and marketing plans</li> <li>How to find, hire, and train talented employees who will help make your franchise a success</li> <li>How to make sure your franchise makes money</li> <li>How to grow your business with multiple franchises</li> <li>And more!</li> </ul> <p>Additionally, <i>Franchise Management For Dummies</i> includes a glossary of common franchise-related terms, ten keys to franchisee success, and the questions to ask before becoming a franchisor. Get a copy today and find out if owning and operating a franchise is the right business move for you.</p>
<p>Foreword xv</p> <p><b>Introduction</b><b> 1</b></p> <p>About This Book 1</p> <p>Foolish Assumptions 2</p> <p>Icons Used in This Book 3</p> <p>Beyond the Book 4</p> <p>Where to Go from Here 4</p> <p><b>Part 1: Wrapping Your Brain Around Franchising</b><b> 5</b></p> <p><b>Chapter 1: The Power of the Brand</b><b> 7</b></p> <p>Tracing the History of Franchising 7</p> <p>What Is a Franchise, Anyway? 9</p> <p>The effects of franchising on modern business 9</p> <p>The success of franchising for business owners 10</p> <p>What’s the Big Deal with Brands? 11</p> <p>Franchise Siblings: Three Types of Franchising 12</p> <p>Traditional franchising 12</p> <p>Business-format franchising 12</p> <p>Social franchising 14</p> <p>The Roles and Goals of Franchisors and Franchisees 15</p> <p>Looking at the world through franchisor lenses 15</p> <p>The franchisee’s end of the bargain 16</p> <p>Nuances of the Franchisor/Franchisee Relationship 18</p> <p><b>Chapter 2: Franchises Come in Different Sizes</b><b> 21</b></p> <p>Getting Started with a Single Franchise 22</p> <p>Where to start: It’s two in the morning and you can’t sleep 22</p> <p>Sifting through the options 23</p> <p>Paying attention to what’s hot 25</p> <p>Adding Franchises, One at a Time 27</p> <p>Flying solo: Single-unit franchises 27</p> <p>Growing a family one franchise at a time 28</p> <p>Developing a Territory on Your Own 29</p> <p>Becoming a Master Franchisee 32</p> <p>The Area Rep: Master Franchise Lite 34</p> <p>Sharing Risks and Rewards in a Joint Venture 35</p> <p>Councils, Associations, Cooperatives, and Buying Groups 36</p> <p>Buying Franchisor-Owned Locations 37</p> <p><b>Chapter 3: Mirror, Mirror, on the Wall</b><b> 41</b></p> <p>Starting Your Own or Joining a Team 42</p> <p>Consider the Pros and Cons 43</p> <p>Advantages of making a franchise investment 43</p> <p>Disadvantages of making a franchise investment 45</p> <p>Being Realistic about Being a Franchisee 48</p> <p>Looking in the Mirror: A Self-Evaluation 49</p> <p>Are you willing and able to learn new skills? 49</p> <p>Would you rather give or take orders? 50</p> <p>Can you say goodbye to corporate perks? 51</p> <p>How is your health? 51</p> <p>Do you like people? 52</p> <p>How much can you dish out and take on? 53</p> <p>Consider your family and friends 53</p> <p><b>Chapter 4: The Legal Issues</b><b> 55</b></p> <p>Franchise Regulation: A Little History 56</p> <p>The State Regulatory Landscape 57</p> <p>The Franchise Disclosure Document 58</p> <p>What you will find in the FDD 58</p> <p>The waiting period 59</p> <p>The FDD, Item by Item 60</p> <p>Calling out a few key items 71</p> <p>How much can I make? 73</p> <p>Additional information available when an FPR is provided 74</p> <p>Understanding a franchise agreement 75</p> <p>The franchisor’s verbal promises 75</p> <p>Finding professional advisors 75</p> <p>Negotiating with a Franchisor 77</p> <p><b>Part 2: Buying a Franchise</b><b> 79</b></p> <p><b>Chapter 5: Researching Franchise Opportunities</b><b> 81</b></p> <p>Digging Up the Good Information 82</p> <p>The Internet is the place to start 83</p> <p>Print directories 84</p> <p>Publications to understand franchising 84</p> <p>Attending trade shows and expositions 85</p> <p>Hot and trendy, but does it have any legs? 86</p> <p>The Role, Risk, and Benefits of Brokers 87</p> <p>Do brokers work for you or the franchisor? 87</p> <p>Deciding Whether to Buy Old or New 88</p> <p>Sizing up an existing franchise 89</p> <p>Investigating new franchise opportunities 91</p> <p>Benchmarking Franchise Offerings 92</p> <p>Going Back Home and Eyeing Locations 96</p> <p><b>Chapter 6: Raising Capital: Wowing, Wrangling, and Winning</b><b> 97</b></p> <p>Examining Your Current Finances 98</p> <p>Ask yourself some probing questions 98</p> <p>Seeing what you can afford 99</p> <p>Consider a “used” franchise 99</p> <p>Determining Franchise Investment 100</p> <p>What your startup costs may look like 101</p> <p>Initial expenses to set up shop 102</p> <p>Do Your Homework before Holding Out Your Cup 105</p> <p>Creating a business plan 105</p> <p>The SBA: What they want to see 109</p> <p>Projecting income and cash flow 112</p> <p>Raising Capital 114</p> <p>Avoiding debt 114</p> <p>Visiting the bank 115</p> <p>Finding an angel investor 116</p> <p>Seeking other financing strategies 117</p> <p>Social Franchising and Funding 117</p> <p><b>Part 3: Operating Like a Well-Oiled Machine</b><b> 121</b></p> <p><b>Chapter 7: Choosing a Location</b><b> 123</b></p> <p>Selecting a Site 124</p> <p>Considering common site options 124</p> <p>Working a franchise from home 126</p> <p>Opting for alternate or off-street sites 127</p> <p>Dual branding: Sharing your space 127</p> <p>Finding Your Franchise’s Habitat 128</p> <p>Finding out what constitutes a good site 129</p> <p>Using the franchisor as your compass 130</p> <p>Using data to evaluate a site on your own 132</p> <p>Protected and Exclusive Areas 132</p> <p>Encroachment Policies 134</p> <p>Signing the Lease 135</p> <p>Meeting Your Franchise’s Requirements 136</p> <p>Implementing a franchisor’s designs 136</p> <p>Getting approvals, permits, and licenses 137</p> <p>Beginning construction 137</p> <p>Getting help with the opening 138</p> <p><b>Chapter 8: Getting the Goods</b><b> 139</b></p> <p>The Basic Requirements 140</p> <p>Meeting Approved Standards and Specifications 141</p> <p>Making mandatory purchases 141</p> <p>The Role of Buying Groups and Purchasing Cooperatives 146</p> <p>Receiving merchandise 147</p> <p>Receiving deliveries 147</p> <p>Checking the goods after they are in your location 148</p> <p>Verifying invoices 149</p> <p>Maintaining Inventory 149</p> <p>Back of the house 149</p> <p>Front of the house 152</p> <p><b>Chapter 9: Training and Hiring</b><b> 153</b></p> <p>Getting Good Training for Yourself and Your Management 154</p> <p>Getting good initial training 154</p> <p>Receiving effective ongoing training 156</p> <p>Understanding Joint Employment and Why It Spooks Franchisors 157</p> <p>Who is the employer anyway? 157</p> <p>The role of the franchisor in human resources policies 158</p> <p>Training Your Staff 160</p> <p>Taking responsibility for getting your gang in gear 161</p> <p>When English isn’t an employee’s first language 162</p> <p>Finding a method to the madness 163</p> <p>Building and Leading Your Team Effectively 164</p> <p>Recruiting the right team and rewarding them in the right ways 166</p> <p>Following equal opportunity guidelines 168</p> <p>Conducting Interviews 169</p> <p>Asking the right questions 171</p> <p>Continuing an interview 173</p> <p>Doing background checks and other post-interview diligence 173</p> <p>Retaining Good Employees with a Good Work Environment 174</p> <p>Fostering a good work environment 175</p> <p>Hiring good managers 176</p> <p>Thinning the herd: When terminations need to be done 176</p> <p>Ensuring workplace safety 177</p> <p><b>Chapter 10: Working with Franchisors and Fellow Franchisees</b><b> 179</b></p> <p>Playing by the Rules 179</p> <p>Meeting franchise system standards 180</p> <p>Supporting and watching the system 182</p> <p>Attempting to change the system 184</p> <p>Building a Relationship with Your Franchisor 185</p> <p>Being a team player 186</p> <p>Getting what you need from the relationship 187</p> <p>Dealing with Change 191</p> <p>When the franchise system changes 191</p> <p>When conflicts occur 192</p> <p>Reaching Out to Your Fellow Franchisees 194</p> <p>Joining advisory councils and associations 195</p> <p>Being number one in a class of one 197</p> <p><b>Chapter 11: Attracting and Keeping Customers</b><b> 199</b></p> <p>Creating an Effective Marketing Plan 200</p> <p>Evaluating National and Local Advertising Strategies 204</p> <p>The franchise system ad campaign: Collective marketing dollars at work 204</p> <p>Local marketing options 206</p> <p>All Hail Customer Service 210</p> <p>Knowing your customers 210</p> <p>Showing honesty and integrity 212</p> <p>Making sure customer experiences are positive (and fixing ones that aren’t) 213</p> <p>Looking beyond your cash register 215</p> <p><b>Part 4: Expanding or Cashing Out</b><b> 217</b></p> <p><b>Chapter 12: Acquiring Other Franchises</b><b> 219</b></p> <p>Assessing the Advantages and Disadvantages of Multi-Unit Operation 220</p> <p>The advantages 220</p> <p>The disadvantages 221</p> <p>Checking Your Franchise Agreement: Can You Buy Another Franchise? 222</p> <p>Reviewing Your Resources 223</p> <p>Be honest: Are you really ready? 223</p> <p>Look at your business and finances 224</p> <p>Understanding Your Purchase Options 227</p> <p>Starting from scratch 227</p> <p>Investing in multiple units 228</p> <p>Buying a franchise from another franchisee in the system 229</p> <p>Measuring proximity to yours 230</p> <p>Retrofranchising: Buying a company-owned location 231</p> <p>Converting a competitor’s location 231</p> <p>Acquiring an area 232</p> <p><b>Chapter 13: When the End Is Nigh</b><b> 235</b></p> <p>Decisions, Decisions 236</p> <p>Going for Round Two (or Three or Four): The Successor Franchise 238</p> <p>Paying the successor fee (if there is one) 238</p> <p>The successor franchise agreement 239</p> <p>Changes that have sparked controversy 240</p> <p>Bowing Out at the Right Time 244</p> <p>Getting personal 244</p> <p>Examining your world 245</p> <p>Leaving It to Your Children 246</p> <p>Selling Out 247</p> <p>Sprucing up the joint: Getting the most return on your investment 248</p> <p>Figuring out how much it’s worth 250</p> <p>Playing by the franchisor’s rules 251</p> <p>Selecting a sales method 253</p> <p>Now That the Party’s Over 254</p> <p>Reflecting on the experience 254</p> <p>Making the next move 255</p> <p><b>Part 5: Building Your Own Franchise</b><b> 257</b></p> <p><b>Chapter 14: From Small Business Owner to Franchisor </b><b>259</b></p> <p>Turning Your Small Business into a Bigger Chain 260</p> <p>Deciding whether your business should be franchised 261</p> <p>Putting the preliminary legal requirements in context 261</p> <p>Criteria for Becoming a Franchisor 262</p> <p>Do you have an operating business? 265</p> <p>Will consumers need or want your products and services tomorrow? 265</p> <p>Are you committed to franchising? 266</p> <p>Do you have enough potential franchisees and do you know who they are? 268</p> <p>Do you have a system? 270</p> <p>Can you teach others how to operate your system? 271</p> <p>Are your products and services any good? 272</p> <p>Will the economics of the business support a franchise expansion strategy? 273</p> <p>Beginning Your Franchise Program: Who Should Take the Reins? 275</p> <p>Doing it yourself: Success or sure failure? 276</p> <p>Watching out for “franchise packagers,” wolves in pros’ clothing 277</p> <p>Finding professional advisors to guide your way 280</p> <p>Passing Go with Your Franchise Idea 282</p> <p>Brainstorming a strategic plan 283</p> <p>Fleshing out your strategies 284</p> <p>Creating a plan for action 284</p> <p>Developing the legal documents 285</p> <p><b>Chapter 15: Recruiting Franchisees</b><b> 287</b></p> <p>The Essence of the Ideal Franchisee 287</p> <p>Focusing Your Market Strategy 289</p> <p>Reeling In Great Franchisees 291</p> <p>Defining the franchisee profile 291</p> <p>Doing it yourself or through third-parties 293</p> <p>Reaching out through the right media 294</p> <p>Developing the Recruitment Organization 301</p> <p>Contact management software 303</p> <p>Finding the right franchise recruiting professional 304</p> <p>Staffing your recruitment organization 304</p> <p>Ten Steps to Franchise Recruitment 308</p> <p>Steps 1–4: The introductory phase 309</p> <p>Step 5: Discovery Day 311</p> <p>Step 6: Follow up after Discovery Day 311</p> <p>Step 7: Follow up again 312</p> <p>Step 8: Make a decision 312</p> <p>Step 9: Close the deal 312</p> <p>Step 10: Complete the process 313</p> <p>Working the Validation Process 313</p> <p>The Franchise Sales Presentation 315</p> <p>Finalizing the Selection Process 318</p> <p><b>Chapter 16: Expanding Abroad: International Franchising</b><b> 319</b></p> <p>Taking Your Franchise Abroad: Know What You’re Getting Into 320</p> <p>Investing capital 325</p> <p>Working with third-party intermediaries 326</p> <p>Budgeting for capital investment 328</p> <p>Understanding the necessity of hiring an experienced attorney 331</p> <p>Considering the implications of language and culture 334</p> <p>Getting your money out 336</p> <p>Product sourcing 337</p> <p>Protecting trademarks, trade secrets, and other valuable brand assets 337</p> <p>Decisions, Decisions: Whether to Make the Leap 338</p> <p>If You Decide to Cross the Border 341</p> <p>Finding the right franchisee 341</p> <p>Entering a foreign market 342</p> <p>Negotiating the deal 344</p> <p>Bringing Foreign Franchises to the United States 346</p> <p><b>Chapter 17: A World of Good with Social Franchising</b><b> 349</b></p> <p>BOP: The Base of the Pyramid 352</p> <p>The Challenges for Social Franchising 355</p> <p>CFWshops: An Example of a Social Franchise System 356</p> <p>How CFWshops got started 356</p> <p>Using the hub-and-spoke and other variations of commercial franchising 358</p> <p>Who Are the Franchisor and Franchisee in a Social Franchise? 360</p> <p>Financing and Developmental Benchmarks for Social Franchises 362</p> <p>Stage one: Developing and proving the concept 362</p> <p>Stage two: Proving the replicability of the concept 363</p> <p>Stage three: Developing the franchise system 364</p> <p>Stage four: Expanding locally and nationally 365</p> <p>Stage five: Expanding globally 365</p> <p>Delivering on the Brand Promise 366</p> <p>Resources for Social Franchising 367</p> <p>Government funding agencies for global development 367</p> <p>Private philanthropic foundations 368</p> <p>Corporate philanthropists 369</p> <p>Impact investors 370</p> <p><b>Part 6: The Part of Tens</b><b> 373</b></p> <p><b>Chapter 18: Ten Keys to Franchisee Success</b><b> 375</b></p> <p>Make Sure You Have Enough Money 375</p> <p>Follow the System 376</p> <p>Don’t Neglect Your Loved Ones 376</p> <p>Be Enthusiastic 377</p> <p>Recruit the Best Talent and Treat Them with Respect 377</p> <p>Train Your Employees 378</p> <p>Give Customers Great Service 378</p> <p>Get Involved with the Community 378</p> <p>Stay in Touch with Your Franchisor and Fellow Franchisees 379</p> <p>Pay Attention to the Details 380</p> <p><b>Chapter 19: Ten Questions to Ask before Becoming a Franchisor</b><b> 381</b></p> <p>How Good Is Your Product/Service? 382</p> <p>Can You Manage the System? 382</p> <p>Do You Have the Commitment? 383</p> <p>Can You Systemize Your Business? 383</p> <p>Can You Train Your Franchisees? 383</p> <p>Can You Localize if Needed? 384</p> <p>Do You Have the Necessary Capital? 384</p> <p>Are Enough Franchisees Out There? 385</p> <p>Do You Understand Franchising? 386</p> <p>Are You Willing to Hire Proper Franchise Professionals? 386</p> <p>Appendix: Glossary of Common Franchising Terms 389</p> <p>Index 397</p>
<p><b>Michael H. Seid</b> is the founder and Managing Director of MSA Worldwide, the leading strategic and tactical advisory firm in franchising. <b>Joyce Mazero</b> is a partner and Co-Chair of Gardere's Global Supply Network Industry Practice, internationally recognized and trusted legal advisors dedicated to excellence in franchising. <p>Find handy resources—including sample forms, checklists, and straightforward advice at<b> www.dummies.com/go/franchisemanagementfd</b>
<ul> <li>Pick the perfect franchise opportunity for you</li> <li>Become a commercial or social franchisor</li> <li>Must-have training and legal information online</li> </ul> <p><b>Buy, own, and operate a franchise</b> <p>If you want to be your own boss and stand on the shoulders of franchise giants, this accessible guide makes it easier than ever before. For franchisees, it takes you from the first steps of prospecting for a franchise to getting it up and running successfully. For prospective commercial and social franchisors, it explains how to determine if a business is franchisable and discusses how to properly design and develop a franchise system that you can grow and support. <p><b>inside…</b> <ul><li>Evaluate franchise opportunities</li> <li>Become a successful franchisor</li> <li>Join the growing social franchise sector</li> <li>Build your brand</li> <li>Grasp important legal issues</li> <li>Plan for future expansion</li> <li>Keep the cash flowing</li> </ul>

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