Filled with illuminating examples, stories from the field, and dozens of forms for drafting franchising agreements and licensing programs, the fourth edition of Franchising & Licensing covers all the strategic, legal, financial, and operational aspects of these complex but highly profitable business strategies. Incorporating up-to-the-minute information on regulations, best practices, Web 2.0 strategies, branding techniques and global trademark laws, the new FDD disclosure format, and the latest franchising trends, this indispensable reference reveals how to: * Raise capital, structure agreements, and protect intellectual property* Create market-responsive sales, marketing, and globalization strategies* Establish quality control and compliance measures* Assess opportunities for mergers and acquisitions, joint ventures, and other alternatives to franchising* And much more Comprehensive and applicable to domestic and international franchising initiatives alike, this essential guide remains the industry standard.

Preface to the Fourth Edition
Acknowledgments
The Foundation for Franchising
Leveraging Intellectual Capital to Create Growth
Opportunities and Profitable New Income Streams
Building a Franchising Program
The Foundation of Franchising
Developing the Operations and Training Programs
Developing System Standards and Enforcing Quality Control
The Regulation of Franchising
Compliance
Structuring Franchise Agreements, Area Development
Agreements, and Related Documents
Protecting the Intellectual Property of the Franchise System
Managing Disputes
Developing Sales and Marketing Strategies at the Target
Franchisee and Target Consumer Levels
Taking Your Franchise Program Overseas
Financial Strategies
Business and Strategic Planning for the Growing Franchisor
Capital Formation Strategies
Management and Leadership Issues in Building a Successful
Franchising Organization
The Role of the Chief Financial Officer and Related Financial and Administrative Management Issues
Special Issues in Mergers and Acquisitions
Managing the Transfer and Renewal Process
Strategic and Structural Alternatives to Franchising
Structuring Licensing Programs and Agreements
Joint Ventures and Strategic Alliances
Resource Directory
Index
Table of Contents provided by Publisher. All Rights Reserved.

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<html><head></head><body>PREFACE TO THE FOURTH EDITION It is hard to believe that 20 years have passed since the publication of the first edition of Franchising & Licensing in 1991. The impact of technology and globalization has had a permanent effect on the dynamics of the franchise relationship. When the manuscript was being written for the first edition in the late 1980s, I could not have envisioned the many changes in today’s franchise relationships or the diversity in the number of industries and companies that would pursue franchising as their primary growth strategy. It has been my honor to work with companies launching franchising programs in dozens of different industries and at various stages of growth— ranging from start-up to Fortune 500 companies—all over the globe. A wide variety of recent events and trends are affecting the growth and development of domestic and international franchising: ❒ From the franchisor’s perspective, the weak capital markets have limited access to the resources needed for more organic or traditional growth strategies, thereby making franchising the strategy of choice to accomplish such objectives and brand building, provided that the prospective franchisee can access the capital they need to develop the territory. ❒ From the franchisee’s perspective, more families in a recessionary environment (and with job losses averaging 300,000 per month) want to have greater control over their own destiny and are pursuing many different types of franchised opportunities as a way of owning their own businesses. ❒ The very weak residential real estate market has fueled the growth of many different types of home improvement and home services franchisors, as Americans invest less resources into the pursuit of making their homes more comfortable. ❒ Trust building, proper governance, and leadership have become hypercritical in this post-Madoff era. Franchisors must have integrity when interacting with franchisees, or their systems will fail. ❒ The ease of access to technology, as well as a desire to avoid the hassles (and fears) of going to a shopping mall, have fueled an increase in online sales of products and services. Franchising systems are forced to offer sites that facilitate e-commerce and that create a balance for sharing these new sales and customers with the franchisees in their systems. ❒ The improvements in Internet technology and smartphones, as well as travel/logistics concerns, have changed how franchisees are recruited, meetings are held, and data is gathered. ❒ The impact of the Internet on franchise sales (as well as related legal implications) are discussed in new sections in Chapters 6 and 10 of this fourth edition. Yet, as volatile as the global and domestic economies have been since the publication of the third edition, franchising has remained relatively stable. Each year, hundreds of new companies launch new franchising programs, and tens of thousands of families invest in franchised businesses as the first step in their journey toward achieving the American dream. Even with all of the new technology and all of the new developments, franchising is, and always will be, about mutual commitment, trust, fairness, and communication in a uniquely interdependent relationship that has helped fuel our economy for nearly 100 years. History has shown that the leveraging of intellectual capital can be an effective and capital-efficient way to perpetrate business growth whether economic conditions are weak or strong. Companies of all sizes and in many different industries are realizing that their intangible assets can be a source of new revenue and profit centers and that they can thereby bring greater control, predictability, and loyalty to their distribution channels. The critical importance of adopting this more strategic perspective to the management and leveraging of intellectual capital is discussed in greater detail in the first chapter. Andrew J. Sherman Bethesda, Maryland Spring 2010 </body></html>

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Franchising & Licensing

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