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Multi-Unit Franchising on the Rise
2008-01-25 16:42:00
by Patricia Schaefer"Historically unprecedented." That's what Darrell Johnson, President and CEO of FRANdata, says about the fact that about 50 percent of all franchise units are now owned by multi-unit franchisees. FRANdata has been tracking for years the incidence of multi-unit franchising. Johnson and others agree that multi-unit franchising is one of the industry's most dominating growth trends. As the growth of multi-unit and multi-concept franchising intensifies, it is becoming part of the amazing evolution and maturation of U.S. franchising. A number of today's franchisees are highly experienced and savvy business professionals who are strategically building their own small franchise empires. At the same time, more and more franchise systems are seeking multi-unit development agreements as the best and sometimes sole way to grow their franchise concepts.Factors contributing to the rise of multi-unit franchisingProfitabilityIncreased profitability for both franchisor and fr...
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Difference Between a Franchise Opportunity and a Business Opportunity
2008-01-01 08:57:00
FranchiseIn simple terms, a franchise opportunity is a relationship between a seller and a buyer that continues for the duration of the buyer?s involvement in the business. A franchise differs from a business opportunity in two important ways: * A franchisor generally collects an ?up front? fee from the buyer but also collects on-going royalties in exchange for a proven business model. In a business opportunity, the buyer pays for the system or training, but does not have a further obligation, unless his contract specifies he buy inventory from the seller. * A franchisor, in order to protect the brand and ensure consistency of the product, requires strict adherence to specific guidelines. In a business opportunity, the buyer may learn a specific program but is not required to follow the system.The Federal Trade Commission (FTC) regulates franchising at the federal level. In order for a business to be labeled a franchise, three elements must be in place: 1. Franchisor allows ...
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Expert Franchise Selection Advice
2008-01-01 08:52:00
The FranChoice®ProgramOur Mission is Helping People Realize Their Dreams.We do this by helping you find a franchise opportunity that fits you. "What's the best franchise for me?"Prospective entrepreneurs ask that question all the time. The best answer is, "it depends". It depends on what you like to do. It depends on what you're good at. It depends on how much capital you have to invest. It depends on how you evaluate risk. It depends on understanding all the factors that go into making a good decision - from your perspective, not ours.A Free Service For EntrepreneursThe FranChoice consultation process is similar to working with a realtor when buying a home. An industry expert guides you through the search process, helps answer your questions and concerns, and understands your needs and goals in business ownership.There is no obligation or cost to you for the services or for the information about franchise opportunities we offer at FranChoice. We are paid fees by franchisors who r...
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How To Raise Funds To Start A Franchise Business
2008-01-01 08:43:00
Franchise Article Author: The Franchise GuideFinancial capacity is the important aspect that founders will have to address when business opportunities such as franchising are concerned. Franchising businesses do not come cheap and the costs involved are variable. The need to allocate the proper funds for budgeting purposes will be the immediate aspect that needs to be addressed so that every area surrounding the business will be covered for a smooth flow of operations.Where to Look for Funds There are various ways to which a franchise business can be accomplished. Here are some possible alternatives:1. Financial Loans. The easiest way of being able to allocate the needed funds would be to apply for financial loans with banking and lending institutions. The process after application would call for the purpose of the loan, a background credit investigation check on the person/s applying for the loan, declared assets and the payback period for such. Interest rates will perhaps be the on...
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Home Care Franchise Opportunities
2008-01-01 08:35:00
Senior Services Franc hise sMedical & Healthcare FranchisesServing Baby Boomers (and Their Parents!)Home care, living assistance and medical programs especially for seniors are in demand, and the need will continue to grow as the U.S. population continues to age. If you're searching for a franchise that makes good business sense and affords an opportunity to provide personal, caring service, look into the various senior services franchises and businesses related to health and wellness as described in the listings below.Home Care Franchise Opportunities Visiting Angels / Living Assistance offers services to a market of more than 30 million senior citizens. This market is exploding in growth, which has rendered it nearly immune to changing economies. Their business provides the satisfaction of helping senior citizens and convalescing clients continue to live where they want to be - in their own home.Visiting Angels is well-established with 260 senior home care franchises (non- medical) ...

Factors That Affect A Good Franchise Site Location
2008-01-01 08:31:00
Franchise Article Author: The Franchise GuideChoosing the best franchise is just half the equation. Without the right location for it, you may find it hard to recoup your investment. So how do you choose the right location for your franchise?Perhaps the first thing you should consider is if there are enough people in your locality to ensure that sufficient volume will be consumed. If not, does your area have any plans for expansion? The more you cater to a small segment or niche in the market, the bigger the population must be. Moreover, the product volume consumed monthly must not only be sufficient to cover your monthly expenses but must also bring you a profit.You should also think about where the people who can afford your product or services live. Your city may have the perfect solution for these people with the buying power but if your product or service is inaccessible to them, how will you profit? Rule of thumb in this case is to place your business along the routes o...
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How To Choose a Franchise
2008-01-01 08:27:00
Franchise Company Investigation ProcessFranChoiceBefore You BeginYou've carefully evaluated yourself and built an individual model that can be used to determine if a franchise opportunity has the attributes you want. You know what you need to find in a franchise business to match your preferences and desires. You have a picture of what the future will be like for you as a business owner. Now you just need a process to investigate individual franchise opportunities and determine if they fit perfectly into your plans.Franchise Investigation PreviewThe first thing you need to keep in mind in your investigation is that it is a process of mutual elimination for both you and the franchisor. You might find exactly the franchise you're looking for on the first try, but that is highly unlikely unless you have some expert help. Remember to ask any and all questions you can think of about a franchise business. This will allow you to remain focused and weigh all of your options to find the pr...
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B2B or Not to Be?
2008-01-01 08:25:00
You?ve got the questions ? we have the answers!Lori Kiser-Block, President, FranChoiceCan you answer a resounding ?YES? to these questions? * Am I willing to dedicate long hours every day for at least two years to get my business up and running? * Do I have or am I willing to learn (or hire someone) to network with other small business owners in my local community? * Am I able and willing to take direction from a franchisor partner? * If some of my potential customers turn me away, will I remain upbeat and steadfast in an effort to get new business?If you can answer in the affirmative to all four questions, a business to business franchise may be the ideal opportunity for you. As a B2B franchisee, you will provide needed services to other small businesses, saving them time and money and making you part of their success while making a success of your own business. There are also advantages to being part of the B2B industry over retail businesses, and the varieties of fran...

What Is Franchising? How Does It Work?
2008-01-01 08:22:00
What Is Franc hising ? How Does It Work ?Steve Hockett, PresidentFranChoiceSimply put, franchising is a way for a business to expand beyond its original owners. The most common form of franchising is a business format franchise where the franchisor contributions certain elements of the business and the franchisee contributes certain elements. The power of franchising is realized through the combination of the contributions from the two participants. Franchisees pay initial franchise fees and then ongoing royalties for access to the format the franchisor has developed and for ongoing enhancements to the system.The franchisor contribution will include the brand / trademark of the concept; it will include the proven business system (commonly called the operating system); and the franchisor will provide the initial and ongoing support as the franchisee builds their business.The franchisee contribution involves the management skills to run the business day to day using the franchisor provid...
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What to do before you begin searching for a franchise
2008-01-01 08:21:00
How to Buy a Franc hise ? Step 1What to do before you begin searching for a franchiseBy Kim EllisYou?ve thought about it for years and you?re finally ready to make the leap into business ownership. It?s time to be your own boss, to be the one in charge of your financial future ? your destiny. Because you are a smart woman, you want to avoid making mistakes along the way. You have so many questions: Will you be happy as a franchisee? Can you make the money you need to provide for yourself and your future? What kind of franchise would be best? Where do you start, with thousands of franchise opportunities available?The simple answer is that you start with YOU.Before you even begin looking at franchises, you need to do a thorough self-evaluation of your own business style, strengths and challenges. So find a quiet place, get out paper and pen, and as objectively as possible answer the following questions. (And don?t worry; unlike the quiz in Cosmo, ?Are you a good friend?? there are no w...
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Security and Investigations Franchises
2008-01-01 08:20:00
Identity theft, corporate fraud and traditional crime against people and property are, unfortunately, standard fare on the evening news. Home and business owners are taking an active role in protecting themselves and their possessions by investing in preventive security measures such as increased outdoor lighting, video surveillance and other similar products.The franchises and businesses featured here require no background or training in law enforcement or a technical field, and individuals from the insurance industry may find these businesses particularly rewarding, on a professional and financial level.Many of these opportunities can be run from a small home-based office, and require a relatively low initial investment.If you'd like to own and run a successful small business that also contributes to the safety, security and well-being of your community, please investigate these franchise opportunities further and request additional information.EYESthereWouldn't you like to own ...
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Eight Keys to Selecting the Best Retirement Account Facilitator
2008-01-01 08:17:00
Successfully buying businesses with IRA money requires the securing of account facilitators who know exactly what they?re doingDavid Nilssen, CEO, Guidant Financial GroupA growing number of people are discovering the joys of utilizing IRA money to purchase businesses and franchises. Consequently, more companies are springing up to meet the account-structuring needs of those seeking to take advantage of this ?self-directed IRA? funding option. These companies can run the gamut from the sublime to the ridiculous, so it?s crucial that consumers know what to look for when choosing a retirement account facilitator.When structured correctly, money in your IRA account can be accessed before retirement to buy a franchise/business without incurring early distribution penalties. Setting up a structure for these types of transactions is a complex process involving rollovers, creations of corporations and/or new accounts within IRS and Department of Labor guidelines, and appropriately submittin...
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A former corporate exec launches children?s art-education franchise with 40
2008-01-01 08:11:00
Tony Capobianco of Tampa, Florida, just spent the last three days dressed as a pirate. And he has seven more days to go of eye-patch wearing and numerous growls of ?Aaargh, shiver me timbers, me matie!?Capobianco, 43, is enjoying running his first-ever pirate-themed art camp for children eager to draw, sculpt, mold, paint, throw glitter around and laugh a lot. Although glitter and clay weren?t tools of the trade at his previous IBM and AT&T jobs, he has taken to his new position as an Abrakadoodle franchise owner and education director like a pirate takes to gold doubloons.A former manager of customer service and implementation, Capobianco, found himself laid off in May 2005 after 18 years in corporate America. Yet, he?s not shedding any tears about it; in fact, quite the opposite. ?I get up every morning now with a smile ? and sometimes glue ? on my face,? he says. ?I?ve gone from wingtips to sneakers, and I?m loving every minute of it.?Capobianco is one of a growing number of laid...
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Handyman and Restoration Franchises Always busy, no matter which way the ec
2008-01-01 08:04:00
The home repair and restoration market includes a limitless supply of exciting franchise and business opportunities! Home repair can mean everything from a small handyman or furniture repair business, to a nationally-known home restoration concept. When the economy is booming, homeowners have more money to spend on substantial restorations to their residences and vacation properties, or to buy and build new homes. When the economy is lean, people tend to stay put and make necessary repairs to maintain their most valuable possessions - their homes, property and vehicles.All reputable repair-oriented franchises will assist the new franchisor with marketing and advertising to help you get established. Many offer ongoing company wide programs that capitalize on their brand name. Your success is highly dependent upon the reputation you're able to create for your new business, and the number of referrals you're able to generate. Home repair and restoration franchises appeal to the hands...
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Ask These Money Questions Before You Buy a Franchise
2008-01-01 08:02:00
Congratulations on your interest in buying a franchise! The number of companies that have chosen to grow their businesses through franchising and the number of people who have decided to own their own business through franchising is a testament to the power franchising has to make dreams come true. But there are numerous questions you will want to have answered before you commit to anything and asking MONEY questions may be the most important.Here are what we feel are the top money questions to ask ? and get answered ? when deciding on the purchase of a franchise business:How much money can I make with this franchise?We put this question first because it is probably the first question you will have when considering a franchise concept. The answer will depend on many factors but a typical franchisee doesn?t start making money until the second or third year. You may find a range of incomes in the franchisor?s UFOC (Uniform Franc hise Offering Circular) which the franchisor will provide...
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Franchise Prospecting and How To Maximize Your ROI
2008-01-01 08:01:00
September 2007 Franc hising WorldThere is a resurgence of trade shows and other events underway.By Jim Squire, CFETwenty years ago, when franchise lead generation was much simpler, trade shows were the lifeline of franchise development teams. As the primary, and often only, source of prospects, franchise companies flocked to franchise trade shows and expos across the country in droves?daring not skip a single one, or they might miss out on their only opportunity to meet prospects and make that critical franchise sale.When the Internet entered the picture and became mainstream in the 1990s, trade shows and expos experienced a steady decline. Leads from the Internet poured in from all directions, and franchise systems opted to invest resources in both building their own Web sites and optimizing their Web site?s performance, as well as paying for stand-alone presence on franchising portals, rather than traditional expos and trade shows. They felt their development teams? time and funds ...
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Managing the Franchisee Relationship During a Corporate Shift
2008-01-01 08:00:00
June 12, 2006By Lynette McKee, CFEToday?s franchise companies are experiencing dramatic changes, either through mergers and acquisitions, exponential growth and or through changes in brand identity and executive leadership.During a corporate shift in strategy, the risk of damaging the relationship between franchisor and franchisee runs high if the franchisor does not have a clear strategy for maintaining a positive relationship with its franchisee network. Franc hisees have an equally vested interest in a successful franchise program. The franchisee has committed financially in the relationship with the same objective of achieving profitable results. It is the responsibility of the franchisor to play an active role throughout the process of corporate change, keep franchisees up to date with the organization?s future plans and to keep them informed of all changes that will affect their business. It is critical for both parties to have a mutual understanding in order to address the...
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Three Avenues to ?Destination Success?
2008-01-01 07:59:00
Franchising World, December 2006By Ken Houck, CFEFranchisees and franchise companies come together to build a business relationship for a period of 10, 15, 20 years or sometimes longer. The goal is to be mutually, financially beneficial. Each party enters into the franchise agreement with a certain vision of their future in mind. As in any relationship, business or personal, things may not always go the way one had envisioned them. That is natural, but what causes the relationship to go sour, or become adversarial? Let?s face it, neither party gets pleasure from an uncomfortable, sometimes confrontational and possibly financially-expensive situation.There are many ways a franchise relationship can become strained. The franchisee may believe he was misled before signing the franchise agreement. The franchisee may not be making the profits expected, not receiving the support he believed he should receive, may not have faith in the business model any longer, may not understand the fra...
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Turning Around a Struggling Franchise Company
2008-01-01 07:55:00
Franchising World, January 2007 By Catherine MonsonWhat would an individual do if presented with an opportunity to be the president of a struggling franchise company? He believes the concept has potential, that the franchise system has been mismanaged and that this has led to the decline or current troubled state of the company. Most business professionals know that they have many things they need to accomplish to successfully turn this company around. Where does a leader start and what does he focus on?Listen to Franchise esWithout the existing franchisees, there is no company. That is the place to start. The executive must listen and learn; much like playing poker, once a card is flipped, it cannot be pulled back. Touching each and every franchisee as quickly as possible should be the first job. Next, the leader can utilize group meetings, conference calls, Web conferencing, one-on-one visits and telephone calls.Listen to the franchisees and find out what is important to them...
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Steps to Improve the Franchisor-Franchisee Relationship
2008-01-01 07:53:00
Franchising World, April 2007If the culture fits both parties, and if both parties are committed to a common goal, the relationship will be good and success begins. By Harvey H. H. Homsey What makes a relationship between two parties good? What makes a marriage last for 50 years or ?until death do you part?? While the answer might be philosophical or studied for years, it boils down to two words: culture and commitment. The culture has to fit both parties, and both parties have to be committed to common goals. In fact, both parties must accept their role in the relationship. Especially in the relationship between franchise system and franchisee, both have to want it. Making the franchise relationship a good one requires the right culture, the commitment of the franchise company, and the commitment of the franchisee, with the ability to tweak the commitment from time to time.Establish the Foundation of CultureDoes society shape a culture or does culture shape a society? If an entire...
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Ensuring Good Franchise Relations
2008-01-01 07:52:00
June 2007 Franc hising WorldEnsuring that the relationship between franchisee and franchisor remains positive is always important. Many different aspects of how this relationship can be maintained have been discussed under the topic of franchise relations. One important topic not often addressed is ensuring a positive franchise relationship through insurance.By Janice M. Dwyer, CFESo often today, when a franchisee is sued for any reason, the franchise parent is also named as a defendant in the lawsuit. Some argue that the plaintiffs are going after the ?big money? of the franchise system, while others suggest that the plaintiffs neither appreciate nor understand the relationship between a franchise brand and franchisee. Whatever the reasons, both franchise company and franchisee alike must pay attention to how their insurance policies are designed to protect their interests in the event of lawsuits.If a franchise organization had to defend each claim made against it for a franchisee?...
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Helping Franchisees Adapt When A System is Being Acquired
2008-01-01 07:47:00
July 2007 Franc hising WorldThe best way to help franchisees adapt to an acquisition is going to be through strong, effective and consistent communications.By Jack Pearce, CFE The effective management of an acquisition event in the franchising industry demands intense preparation and cautious execution to overcome an emotional shake-up which can accompany this kind of organizational growth. When word gets out there is an acquisition in the wind, there is a measurable impact on all parties involved, but most acutely on the attitudes, feelings and performance of the franchisees being acquired. The fact is most of this change or shift in attitudes, although unavoidable, is almost always negative. Usually people in both companies, but particularly in the one being acquired, must go through a major adjustment process. They have to adapt to a variety of new organizational realities, not the least of which is the change in relationship between their former franchisor and their new one. ...
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Building and Repairing Trust Of the Franchisee-Franchisor Relationship
2008-01-01 07:45:00
August 2007 Franc hising WorldKey steps to ensuring a profitable relationship.By David HolmesMost professionals in franchising would agree that trust is a vital element in a successful relationship between a franchise system and its franchisees, whether on an individual level or between the franchisor and its franchisees as a whole. But past this general observation, so common that it?s almost a cliché, some more difficult questions lie waiting: How is franchising different from any other form of doing business, so far as trust is concerned? How does trust provide direct business benefits or is it merely a ?feel-good? aspect of the business relationship that fails to deliver real economic benefits? If trust is important, how can it be established, nurtured and, if needed, repaired? What are the respective roles of the franchisor and the franchisees in building trust?How is franchising different?On one level, almost all business relationships require trust. When the first two ca...
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From Franchising for Dummies® 2nd Edition 2
2008-01-01 07:43:00
How This Book Is OrganizedFranc hising For Dummies , 2nd Edition , is organized into seven parts, each covering a major aspect of franchising as well as the standard For Dummies Part of Tens and a couple of appendixes with some extra information. The chapters in each part cover specific information in detail. You can read each chapter (and even each section) independently, which is useful if you have other things to do at the moment. In each chapter, we note other areas of the book that explore in greater detail some of the information you see.You can also sit back and read this book from cover to cover. We hope that you do, because it?s designed to give you information in a logical progression. Here?s a summary of what you can find in each part.Part I: Franchising Basics: Separating the Myths from the FactsPart I gives you an overview of franchising and insight into the relationship between franchisors and franchisees. It tells you about the types of opportunities available within fra...
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Nine of the Most Important Provisions to Look for
2008-01-01 07:36:00
J. Michael Dady, AttorneyDady & Garner, PAOne of the most important things that you can do to protect yourself, when you are planning to invest the time, money and energy that come hand and hand with owning and operating a franchise, is to carefully review your franchise agreement before signing. There are, of course, many provisions that will impact your ability to successfully operate your franchise, and many others that will impact the kind of protection you will have in the event of a dispute with your franchisor. But, in my 29 years of experience as a lawyer for franchisees, I have found that there are nine particularly important provisions to look for.1. A Good Definition of What You Will be SellingFirst, make sure that the agreement contains a good definition of what it is you will be selling. You want assurances that you will be able to handle the entire array of products and services offered by the franchisor, as well as all new and improved variations thereof.2. Protection...

Frequently Asked Questions About Franchise
2008-01-01 07:34:00
How do I know that I will be able to sell franchises?You don't. Selling franchises requires a different set of skills and a business that meets the test of franchisability. While there are no guarantees, industry surveys have indicated that on average a new franchisor will sell between six and nine franchises in its first year of franchising. And some have grown much faster.Can I avoid franchise laws?There are some technicalities that you can use, depending on your situation. For example, FTC Rule 436 has an exception for companies who charge total fees of less than $500 in the first six months of operation. But if you have the three definitional elements of a franchise, it is generally best not to try, as fines in some instances have run in the millions of dollars. Moreover, in addition to the federal law governing franchise sales, 23 states have separate regulations on the subject.What do the franchise laws require?FTC Rule 436 requires that you provide prospective franchisees wi...
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