9780910627542

The Franchise Handbook: A Complete Guide to All Aspects of Buying, Selling or Investing in a Franchise

by
  • ISBN13:

    9780910627542

  • ISBN10:

    0910627541

  • Format: Paperback
  • Copyright: 2006-08-15
  • Publisher: Atlantic Pub Co

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Summary

This book is a great resource for both prospective franchisees and franchisers as it explains in detail what the franchise system entails and the precise benefits it offers to both parties. You will learn franchising advantages and disadvantages, how to develop or purchase a winning concept, how to choose a business franchise that fits your personal style and financial goals, how to develop forecasts and budgets, and how to estimate start-up costs. The book also covers managing daily operations, attracting and keeping customers, hiring employees and training staff, securing financing, legal agreements, offerings, markets, real estate, cost control, marketing, international franchising, as well as federal and state franchise regulations.

Table of Contents

CHAPTER 1 CHOOSING THE RIGHT FRANCHISE 17(14)
Franchises Are Not Independent Businesses
17(2)
Becoming a Franchisee
19(7)
Buying an Existing Franchise
26(1)
Starting New
27(4)
CHAPTER 2 DOING YOUR RESEARCH 31(6)
Internet Research
31(1)
Separate the Good, the Bad, and the Ugly
32(2)
Starting Points
34(1)
Staying Organized
34(3)
CHAPTER 3 SIGNING ON THE DOTTED LINE: LEGAL ISSUES 37(20)
Understanding the UFOC
38(8)
Hiring a Franchise Lawyer
46(1)
Hiring a Financial and Business Advisor
47(1)
What Is the Best Way to Own and Operate My Particular Business?
47(1)
Partnerships: The Pros and Cons
48(6)
Forming a Business Entity
54(3)
CHAPTER 4 ESTIMATING START-UP COSTS 57(22)
Start-Up Costs
59(3)
Raising the Money to Start
62(2)
Business Plans
64(1)
Major Elements of a Business Plan
65(4)
A Business Plan Template
69(9)
Business Plan Resources
78(1)
CHAPTER 5 GETTING FINANCING 79(10)
Steps to Take Before Applying for a Loan
80(2)
Start-Up Costs
82(1)
Operating Costs
83(1)
Personal Living Costs
83(1)
Applying for That Loan
84(1)
Federal Government
85(1)
State Government
86(1)
Local Government
86(1)
Commercial and Private Sector Sources
87(1)
Friends and Relatives
87(1)
Equity Investors
88(1)
CHAPTER 6 CONDUCTING A MARKET ANALYSIS 89(10)
Market Research
90(3)
Conducting an Industry Analysis
93(3)
Conducting a Market Analysis
96(3)
CHAPTER 7 CREATING FINANCIAL STATEMENTS 99(16)
Projected Income Statements
99(3)
Estimating Income and Cash Flow
102(1)
Sales Forecasts
103(1)
Starting the Investigation
104(1)
Quizzing the Current Franchises
105(1)
Calculating Potential Sales, Cash Flow, and Profit
105(3)
Calculating Average Gross Sales
108(2)
Projecting Cash Flow
110(2)
Profit and Loss Statement
112(1)
Final Words
113(2)
CHAPTER 8 LOCATING YOUR FRANCHISE 115(8)
Finding the Best Location For Your Franchise
115(1)
How to Evaluate Your Location
116(1)
Financial Considerations
117(1)
Constructing a Location
118(1)
Negotiating a Lease
119(1)
Things to Consider When Leasing Within a Shopping Center
120(1)
Things to Consider When Subletting From Your Franchiser
121(2)
CHAPTER 9 MARKETING YOUR FRANCHISE 123(6)
Finding Your Customers
124(2)
Effective Advertising
126(1)
Some Notes on Customer Service
127(2)
CHAPTER 10 MANAGING EMPLOYEES 129(10)
Where to Find New Hires
130(1)
What to Look For
131(2)
Interviewing and Hiring
133(3)
Being a Good Boss
136(3)
CHAPTER 11 BUYING AND MANAGING SUPPLIES 139(8)
Group Purchasing
140(1)
Locating Your Own Suppliers
141(1)
Managing Your Supplies
142(2)
Organizing Your Stockroom
144(3)
CHAPTER 12 MANAGING SUPPLIER AND FRANCHISER RELATIONSHIPS 147(14)
Communication
147(3)
Making Your Contribution to the Success of the Franchise
150(3)
Improving Efficiency
153(1)
Vendor and Consultant Relationships
154(2)
Outside Resources
156(1)
Employee Relations
157(1)
Handling Stress and Making Complaints
158(3)
CHAPTER 13 COST CONTROL 161(2)
CHAPTER 14 TERRITORIAL STRATEGIES 163(6)
Multi-Unit Franchising
163(3)
Territory Divisions
166(1)
Right to Expand
167(2)
CHAPTER 15 EXPANDING YOUR OPERATIONS 169(16)
Checking Your Franchise Agreement: Can You Buy Another Franchise?
169(1)
Understanding Your Purchase Options
170(3)
Retro-Franchising
173(1)
Converting a Competitor's Location
174(1)
Starting From Scratch
175(1)
Buying Multiple Units
176(2)
Reviewing Your Personal and Business Resources
178(3)
The Pros and Cons of Multiple Ownership
181(4)
CHAPTER 16 ADVANTAGES AND DISADVANTAGES OF THE FRANCHISE MODEL 185(10)
Advantages
186(3)
Disadvantages
189(6)
CHAPTER 17 FRANCHISING YOUR BUSINESS 195(26)
Leap of Faith, From Small Business to Franchiser: Ready, Set, Go!
195(4)
My Fee Structure Can Make or Break Me
199(1)
Who Is My Ideal Franchisee?
200(1)
What a Franchisee Really Wants
201(2)
How Do I Narrow the Field?
203(1)
I Have Some New Franchisees...Now What?
204(2)
Going To Market: Smart Expansion
206(1)
Wave of the Future: Tactical Execution
207(1)
Corporate Culture: The Ties That Bind
208(1)
Knowledge Is Power
208(1)
Like It or Not, You Need an Attorney
209(1)
Self-Service Not Recommended
209(1)
Beware the "Franchise Packagers"
210(1)
Look Out World, Here I Come: Global Expansion
211(6)
Importing a Foreign Franchise to U.S. Soil
217(4)
CHAPTER 18 FRANCHISING AND THE LAW 221(8)
Federal Law
221(2)
State Law
223(1)
Registration States
224(1)
Relationship States
225(2)
Franchiser Certification
227(2)
CHAPTER 19 FRANCHISING RESOURCES 229(44)
Companies Offering Franchising
229(37)
Franchise Attorneys and Service Providers
266(7)
GLOSSARY 273(14)
INDEX 287

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