Customer Reviews

Franchising 101: The Complete Guide to Evaluating, Buying and Growing Your Franchise Business

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Upon embarking on an endeavor to purchase a franchise business with my wife, we realized we knew nothing about where to start. We decided to start at the bookstore and purchase a book on franchising. We chose Franchising 101 because it appeared to be laid out in a format that was easy to read and follow -- we were right! This book has become our bible every step of the way. From analyzing the opportunity to digesting the UFOC, every question we have stumbled across has been answered by this book. In addition to the valuable information provided, we actually found our franchise attorney by contacting one of the contributing authors. Franchising 101 leaves no stone unturned in looking at this very important life decision. It is a MUST READ for anyone considering the purchase of a franchise business.

A prior reviewer chastized the author for including information available through several other sources. I bought it because I didn't want to go to several sources, I got it all here in one book. I haven't been disappointed. I've read every word and recommend the book to anyone needing to know about key issues and concerns when franchizing. The contributors get to the point and let you know what you should and should not expect. Also, how to avoid pitfalls. Start your research here!

My husband and I are considering opening a franchise. Although we have business experience, neither of us have ever actually managed a retail store or food service establishment. We certainly had never negotiated a lease or franchise agreement. This book points out a lot of details that will help you protect yourself when negotiating with a landlord or franchisor. It also gets you to think about whether you are a good fit for this type of lifestyle and are you reviewing an appropriate territory for your business. I checked this book out at the library and now I am buying a copy so I can highlight it, make notes and such.

Practical, Pragmatic Preparation

Cooked up by CPA's, Attorneys and Insurance Brokers, with a dash of disgruntled franchisees and a pinch of fatherly advice from a Franchiser, this utilitarian dish is nothing if not healthy.

With a steady diet of this recipe, potential franchisees will leave the table full and satisfied and yearning for a VERY rich desert to make up for all the pragmatic, reasonable and intelligent ingredients used to prepare this three course meal.

Section 1: "Choosing Your Franchise" opens with a franchising history explaining how Singer Sewing Centers were the first franchiser in 1858. There are tales of early automobile dealerships, oil company and service station franchises, and motel chain successes that led to the explosion of the franchise phenomenon in the 1950's and 60's.

The most interesting portions describe the rise of Ray Croc's ëFranchise of the Centuryí, McDonald's. There's a promise of a "Good News Future" discussing the establishment in 1992 of the American Association of Franchisees and Dealers or AAFD, (the equivalent of a Franchisees union).

There are multiple warnings that you must be very clear of the large difference between an entrepreneur and a franchisee. It is simply stated that if you spend more time thinking about how things "could or should be" then it is likely you are an entrepreneur and franchising is definitely not for you.

Predefined trade dress, business practices, required equipment, signage, etc., are each carefully chosen and non-negotiable by the franchisee. Once again, the AAFD proudly defines newly negotiable items of contracts and leases while clearly stating that the Franchiser maintains the upper hand in all cases.

From the initial colorful history right into the bland body of "how-to" information through helping the potential franchisee to determine the selection, research, pricing, purchasing a franchise and choosing location and leasing details.

Finally there is a tale by a none too happy franchisee who thought long and hard but ignored danger signs in acquiring a business she had decided on before her research told her that this was a sour deal.

Section 2: "Acquiring your Franchise" is the main course and while definitely healthy and well prepared, it is something you read because it is good for you, not because you like it. This course is made up of a discussion of another acronym, the UFOC or Uniform Franchise Offering Circular. This is a federally mandated document outlining 23 tightly defined items which are illuminated to simplify them for the reader.

If you are purchasing a franchise, then this will always be the first and most important step in determining core issues about a particular Franchisor. Two attorneys walk you through the preparation of the franchise agreement, lease negotiation, incorporation, then come the CPA's with cash flow, banking, loans and business plans. It's all critical to those considering the purchase and highly informative as a checklist of important issues.

Section 3: "Managing your Franchise" is a discusses the managing, motivating, hiring and firing of employees. The bulk of this chapter is made up of more essential pragmatic requirements of market research, taxes, insurance, accounting, marketing and business management practices. This section chafes a bit with the fatherly advice of a franchiser who basically suggests that franchisees should respect their elders and be good kids and they will be rewarded with favoritism. Business should not be run on favoritism, but realistically, it's good advice as people skills often determine business success.

Altogether, what it all comes down to is that operating a franchise is serious business, that it takes money to make money, and that it will clearly be very hard work.

There are the benefits such as managing your own time, doing what you enjoy, scheduling your own vacations, and making major decisions without a boss hovering over you. It will leave those with a taste for perks and bonuses wanting. This is definitely your minimum must-have businesslike presentation without discussing even a few of the benefits of self-employment.

This step-by-step guide will no doubt be good for you if you've already firmly decided that franchising is the career path you wish to follow. Nothing is left out and there will be plenty of good information to answer your financial questions and set a course for smooth franchisee sailing.

After you make your decisions you'll definitely want to go elsewhere for convincing reasons to become a franchisee because Franchising 101 offers up only pragmatic, practical fare. This is the hard work without discussing any of the rewards to tantalize you and only a sad tale of one unhappy franchisee answer your questions regarding possible self-fulfilling careers.

I happen to know Ann Dugan and I reviewed her orginal book published in 1987 not 1989 as the previous reviewer wrote. The orginal book was written by Ms Dugan alone and did not include the co-authors of this book. All co-authors were given recognition throughout the book. The orginal book was published locally and not widely distributed. Some of the material of the original book is included in Franchising 101 but has been updated. As a consultant in this field I have recommended this book to many potential franchisees as it is the only guide that provides a one stop overview of the entire process from selection to purchase to actual running of a franchise unit.. It is easy to read in a format that makes it highly useful for those entering the franchising process

I am one of the authors of this book. I am also a franchisor with 140units operating in 90 cities in 4 countries. A lot of knowledge from a number of seasoned industry veterans went into this book. It is a must read for anyone considering buying a franchise. I give it to all franchise owners of my franchise system....

If you do not buy this book and do buy a franchise you will be at a tremendous disadvantage and will make obvious mistakes that will cost you both time and money. After reading this book you may discover that franchising isn't for you. You may decide the risk is too great. You may discover that you are safer staying in corporate America. You may have wondered why you didn't take the plunge sooner. It goes into pitfalls of franchising as well as the tremendous advantages. Either way just rememeber I told you so.

Lance

This guide is detailed and thorough. People considering franchising as a way to get into business should read this book.

I have read 4 different books on franchising and would definately consider this one the best!

As the President of FranchiseInterviews.com, I am constantly reading books and articles on franchising. I consider Franchising 101 one of the best sources on franchising.

I've read this same material before, shame on you Ann. The only accurate parts of this book are plagiarized including the title. The original book was written in 1989. Although I see very clever twisting of excerpts from at least 3 other books, and without reference to the authentic authors!