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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...
More About: Building , Relationship , Trust , Ranch

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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