Ultimate Book of Low-Cost Franchises 2005

by LESONSKY

• ISBN13: 9781932531398
• ISBN10: 1932531394
• Format: Paperback
• Copyright: 2005-04-15
• Publisher: Entrepreneur Press

Summary

Your One-Stop Guide to Buying a Low-Cost FranchiseUltimate Book of Low-Cost Franchisesis the first book of its kind to provide comprehensive franchise listing targeting popular businesses with a low entry cost. Explore all the essentials of low-0cost franchise ownership, from researching options and finding financing to marketing on a budget and operating on a shoestring. Packed with solid advice and timely information, this unique, all-in-one guide delivers valuable guidance customized for low-cost franchises. Time-critical information on up-and-coming franchises Top 10 lsit for low-cost franchises More than 300 low-cost franchise listings Details on contacts, costs, size, training, support and franchisee qualifications Expert and comprehensive overview of the franchise industry Lessons from Entrepreneur magazine's more than 25 years of research and reportingIf you're looking for a way to purchase your own business on a budget,Ultimate Book of Low-Cost Franchisescan quickly and cheaply get you up and running in the franchise game.

Author Biography

Rieva Lesonsky provides guidance, inspiration, and advice to millions of entrepreneurs each month as senior vice president/editorial director of Entrepreneur Media. She is the coauthor of Start Your Own Business.

Maria Anton-Conley, executive director of Entrepreneur magazine, oversees Entrepreneur's renowned anuual Franchise 500® listing and Entrepreneur's Franchise Zone (www.entrepreneur.com/franchise), the world's most comprehensive franchise website.

Table of Contents

Acknowledgments	vii
Introduction	ix
Section One How To Buy a Low-Cost Franchise
So You Want to Own a Business?	3	(2)
Business Ownership	3	(2)
Organizing for Business	5	(6)
Advantages and Disadvantages of Different Business Organizations	5	(3)
Concerns Underlying Business Organizations	8	(3)
Buying a Low-Cost Franchise	11	(4)
Ego Has No Place Here	12	(1)
Low Cost, High Potential	12	(3)
Exploring the Franchise Concept	15	(6)
Independent Ownership	15	(1)
The Business of Franchising	16	(1)
The Franchisee View	16	(2)
The All-American Hard Sell	18	(3)
The Four ``Cs'' of Franchise Financing	21	(2)
Buying Multiple Franchise Rights	23	(4)
Types of Multi-Unit Franchise Programs	23	(2)
Protecting Your Development Investment	25	(2)
How the Government Protects You	27	(4)
How the Law Defines a Franchise	28	(1)
The Consequences of Being a Franchise	28	(3)
Are You Suited to Be a Franchisee?	31	(4)
Is a Franchise for Everyone?	31	(1)
Questions to Consider	32	(3)
Attending a Franchise Trade Show	35	(6)
Prepare for the Show	35	(1)
How to Develop an Effective Method of Attending	36	(1)
The Right Questions	36	(2)
Trade Show Red Flags	38	(1)
The Follow-Up	38	(3)
Research on the Internet	41	(2)
What to Look For	41	(1)
Handling the High Hype-to-Fact Ratio	42	(1)
The Importance of Focus	42	(1)
Organizing the Information You Gather	43	(2)
Setting Up a Filing System	43	(2)
Understanding the UFOC	45	(6)
What is a UFOC?	45	(1)
The Sections of the UFOC	46	(5)
Five Great Questions Not Answered in the UFOC	51	(4)
The UFOC Does Not Deliver Everything	51	(4)
Key Sections of the Franchise Agreement	55	(8)
Understanding the Basic Dynamic of the Franchise Agreement	55	(1)
Key Provisions Considered	55	(3)
Corporate Ownership	58	(2)
Dispute Resolution Provisions	60	(3)
Franchisor Financial Information in the UFOC (and How Do I Read This Gobbledegook?)	63	(4)
Franchisor Financial Disclosures	63	(1)
Audits According to GAAP	63	(1)
Accountant's Analysis Tips	64	(1)
Evaluating the Franchisor's Financial Standing	65	(2)
Top 10 Warning Signs in Franchise Investments	67	(4)
Don't Get Snagged	67	(1)
Key Warning Signs	67	(4)
Closing on Your Franchise Purchase	71	(4)
A Checklist for Closing	71	(4)
Resolving Legal Disputes	75	(4)
Lines of Defense: Contract Terms and Protective Laws	76	(1)
Dispute Resolution Toolbox	77	(2)
Renewing Your Franchise Rights	79	(4)
Contract Terms and Renewal Rights	79	(1)
Renewal Conditions	80	(3)
International Franchising	83	(4)
The Globalization of Franchising	83	(1)
Keys to Foreign-Based Franchises	84	(3)
Negotiating Franchise Agreements	87	(6)
Negotiating a Franchise Agreement	87	(1)
Why Is the Franchise Agreement So One-Sided?	87	(1)
Understanding the Seller's Position	88	(1)
Take It or Leave It?	88	(1)
Negotiating Rules	89	(1)
Franchisors' Inflexible Positions	89	(1)
Franchisors' Flexible Positions	90	(3)
Working with Lawyers and Accountants	93	(4)
Using Legal Services	93	(1)
Do You Need a Specialist?	94	(1)
Using Accounting Services	94	(1)
What to Ask Your Legal and Accounting Advisors	95	(2)
Questions for Franchisees	97	(2)
The Key to Your Research	97	(1)
Franchise Questions	98	(1)
Skill Sets of the Successful Franchisee	99	(6)
The Art of the Sale	99	(1)
Counter Magic	100	(1)
Your Profits Are in the Details	100	(1)
Become a Bean Counter	100	(1)
Be a Skilled Negotiator	101	(1)
People Management	101	(1)
Build an Organization	101	(1)
Be an A+ Franchisee	101	(1)
Collecting Money	101	(4)
Make it Happen	105	(4)
Section Two Ultimate Low-Cost Franchise Directory
Understanding the Directory	109	(2)
Key to the Listings	109	(2)
Automotive	111	(8)
Appearance Services	111	(2)
Rentals & Sales	113	(2)
Repair Services	115	(1)
Windshield Repair	116	(2)
Other Automotive Franchises	118	(1)
Business Services	119	(18)
Advertising	119	(6)
Consulting	125	(3)
Shipping	128	(2)
Staffing	130	(2)
Training	132	(1)
Miscellaneous	133	(2)
Other Business-Service Franchises	135	(2)
Children's Businesses	137	(16)
Fitness	137	(3)
ID Systems	140	(2)
Learning	142	(7)
Miscellaneous	149	(2)
Other Children's Franchises	151	(2)
Financial Services	153	(8)
Tax Services	153	(4)
Miscellaneous	157	(2)
Other Financial-Service Franchises	159	(2)
Food Businesses	161	(6)
Other Food Franchises	165	(2)
Home Improvement	167	(14)
Building & Remodeling	167	(5)
Decorating Services	172	(1)
Surface Refinishing	173	(4)
Windows & Carpets	177	(1)
Miscellaneous	178	(2)
Other Home-Improvement Franchises	180	(1)
Maintenance	181	(38)
Asphalt Maintenance	181	(2)
Carpet Cleaning	183	(2)
Commercial Cleaning	185	(8)
Handyman Services/Home Repairs	193	(5)
Lawn Care	198	(1)
Pest Control	199	(3)
Pet Waste Removal	202	(1)
Plumbing	203	(1)
Residential Cleaning	204	(4)
Restoration	208	(1)
Restroom Maintenance	209	(2)
Vinyl Repair	211	(2)
Window Cleaning	213	(2)
Miscellaneous	215	(2)
Other Maintenance Franchises	217	(2)
Personal Care	219	(8)
Cosmetics & Tanning	219	(2)
Fitness Centers	221	(5)
Hair Care	226	(1)
Pets	227	(4)
Recreation	231	(8)
Sports Businesses	231	(3)
Travel	234	(5)
Retail	239	(4)
Services	243	(28)
Delivery	243	(1)
Gifts	244	(1)
Home Inspections	245	(5)
Photography	250	(2)
Real Estate	252	(4)
Security	256	(2)
Senior Care	258	(4)
Miscellaneous	262	(7)
Other Service Franchises	269	(2)
Tech	271	(6)
Internet	271	(1)
Miscellaneous	272	(5)
Top 10 Low-Cost Franchises for 2005	277	(2)
Appendix A State Franchise Authorities	279	(2)
Appendix B Other Information Sources	281	(2)
Glossary	283	(2)
Index	285	(6)
Listings Index	291