Blog Hotspot for Franchise News ...

Everything you’ve ever wanted to know about the legalities of franchising are now available in An Introduction To The Laws Of Franchising, an exhaustive, 452 page tome authored by attorneys David J. Kaufmann and David W. Oppenheim of Kaufmann, Feiner, Yamin, Gildin & Robbins. By all accounts, this book is an essential companion for franchisors.

The book includes all the latest state requirements for franchise, tips for acceleratingthe  franchise registration process and a variety of information intended to help franchisors achieve compliance.

Click here for more information on purchasing the book.

How to Open & Operate a Financially Successful Retail Business

By Janet Engle

Have you ever wondered how to set up, operate and successfully make a profit from investing in a retail business or franchise opportunity? Well wonder no more!

In this book, Janet Engle like most franchise authors I have reviewed so far introduces the reader to a brief history of the retail industry, and then a chapter on assessing the skills and qualities that make a good franchise retail owner (Chapter 4) and this section serves as an prelim to the more interesting chapters which are added later.

These following chapters are an excellent and comprehensive study of the important aspects of setting up a retail franchise and should be bookmarked by you for further reading :

- setting up a retail franchise (Chapter 8 Buying a Retail Franchise);

- understanding the financial obligations associated with your new business (Chapter 10 Financing Your Business and Chapter 13 Accounting and Bookkeeping);

- marketing and advertising (Chapter 16 Marketing and Advertising);

- customers and suppliers (Chapters 17-19);

- employees and other labor costs (Chapter 20 Employee Relations and Labor Costs).

Not only are these chapters very useful in guiding you through the process of setting up a successful retail franchise business it also provides you with a practical CD-Rom which has some really good features, including how to write up an effective Business Plan (using Word template) and much more.

You should definitely invest in purchasing this book if you are seriously considering setting up your own retail franchise business…

BEST FRANCHISE BOOKS

If you are interested in purchasing a franchise or business related book - you should check out Best Franchise Books - a comprehensive website which provides a list of all relevant business related books.

This website is the only portal of its kind in the industry to provide a dedicated resource for franchise and business related books.

It is worth checking this website out…

Franchise Reporter

TIPS & TRAPS WHEN BUYING A FRANCHISE

By Mary E. Tomzack

I reckon you have probably considered investing in a franchise or business opportunity for month’s now and you are still unsure of all the peculiarities of a franchise operation and what your role will be within the business operation? Well, wonder no more!

Mary E. Tomzack in her latest edition of “Tips and Traps When Buying a Franchise” unearths all the little problems you may encounter when you invest in a franchise and forewarns you of what to be aware of (traps) and what to keep in mind (tips) so that you get the best deal from your franchise business investment.

Tomzack begins by introducing the franchise concept as it now operates in the 21st Century and what this means for potential franchisees hoping to invest in a business. Never before has franchising been so strong and considering the last few year’s of economic prosperity- franchises have evolved into multiple operations combining many different franchise units.

As Tomzack notes: “The franchisee of the 21st Century is very likely to be the owner and manager of a sizable corporate entity…”

So what does this signify for potential franchisees?

Simple! It signifies there is a lot of potential for single-unit franchisees to expand their business into multi-unit entities with the support of the franchisor. In addition, this means that you can build a very strong and profitable business or businesses within a short space of time.

But how do you make sure you are getting the best business for your investment? Like many other franchise books I have reviewed the central issue in all of them is for potential franchisees to always choose a franchise industry they:

a) have previous work experience in, or

b) interests them or motivates them. One thing is certain- you must be passionate about the franchise you invest in…
Once you have decided to invest in a particular franchise opportunity, what TIPS and TRAPS should you be aware of?

This is where Tomzack’s book differentiates itself from any other franchise book I have read so far. Tomzack literally tells you the “tips” and “traps” to watch out for in the following franchise topics and many others :

1. The UFOC- what it tells you and what it does not tell you!

2. Financing your Business - who you should approach, how to approach them, what to ask, what not to ask and much more…

3. Choosing the right Location – what to look for and what to avoid when choosing a location for your business…

4. Business Bankruptcy - what if your franchise goes bust? How to avoid this happening and what to be aware of…

5. Franchise Trends – what franchise industry is currently booming? What franchise industry should your put your financial investment in to?

6. International Expansion - when to expand your business? How to expand your business internationally? The tips and the traps when expanding your franchise…

After reading Tomzack’s book I was left with the notion that I was after learning much more about the franchise industry than I ever thought possible. I was much more informed about the franchise industry and what to look out for and what to avoid when choosing and setting up a franchise.

This book is easy to read and you can dip in and out of it when you want to explore a specific chapter on its own. It is definitely worth reading- even if you only want to know the tips and traps about the 6 points I mentioned above…

Happy reading…

BEST FRANCHISE BOOKS

If you are interested in purchasing a franchise or business related book - you should check out Best Franchise Books - a comprehensive website which provides a list of all relevant business related books.

This website is the only portal of its kind in the industry to provide a dedicated resource for franchise and business related books.

It is worth checking this website out…

Franchise Reporter

Street Smart Franchising- The Insider’s Guide to Buying, Owning and Operating a Franchise

By Joe Matthews, Don DeBolt and Deb Percival

In the far off distance you dream of running your own business? Yet reaching this goal has made you fearful about its possible success. You would like to be in business but you’re not sure you would like to do it on your own.

Investing in a franchise opportunity however can provide you with the prospect to run your own business but with the added security of a proven business model and the support of a close-knit franchise community.

This process in reaching your goal of franchise ownership is not an easy one- it is and will be an “emotional rollercoaster”.

But don’t despair, the following book “Street Smart Franchising” written by real-life franchise experts will be your personal Sherpa and guide you through the unfamiliar terrain of franchising, around the inevitable twists and turns, ups and downs, and eventually leading you to the top in locating a franchise opportunity that matches your personal work style, ambitions and interests.

So how does it work?

Firstly this book will help you to decide if franchising really is an option for you by assessing your own personal work style according to your personal behavior style. The authors have incorporated an effective acronym system called:

“KASH”
1) Knowledge
2) Attitude
3) Skills
4) Habits

This system will determine what work style you are naturally inclined towards. This will be important for you in realizing your true business potential and what franchise you really should be investigating. Furthermore sprinkled throughout this book are questionnaires, franchise definitions, real-life franchise examples, facts and franchise checklists which will undoubtedly strengthen your research in analyzing your personal inclination or not towards a franchise investment.

Once you have decided to take the next step and research the franchise industry, this book tells you what “you will see, feel and experience” as you research the thousands of franchise opportunities available to you, but help you narrow it down to a specific industry, category and type of franchise investment.

It assesses the type of franchisor-franchisee relationships you will encounter throughout your research process, which are paramount to understand for the future success of your franchise investment.

Leading from this system the book prepares you for the actualities of the franchise investigation process- the key people you should be contacting, key information/resources you should be accessing and the development of a “Six-Step Investigation Process” that will guide you to locating a perfect franchise opportunity that suits your personal and professional interests…

Not only does this book provide you with an insight into the reality of franchising it provides readers with the knowledge no other franchise book has revealed before- that is this book lets readers know about the real aspects of franchising, the information other books or websites usually avoid.

Franchising is exposed as it really is- and this is a good thing.

Use this book as your personal companion throughout your franchise research process and you are destined for franchise success…

Go on buy a ticket, and hop on that rollercoaster!

Joel Libava “The Essential Steps to Researching a Franchise Opportunity”

For some people the yearnin to break free from demanding work life situations is all too great. Thoughts of slipping off the shackles of wage slavery and setting up their own business can overtake idle moments thinking on the long commute to work, the bus journey home, and just before they go to sleep at night…These people are determined individuals with an entrepreneurial spirit inside them waiting to be unleashed. For many individuals who embark on the path of franchise ownership it can be an awesome journey, one that takes them to a place they never thought they would ever get to…

But it can be a daunting process researching the franchise industry and making that initial contact with a franchisor and franchisees. But this process has just been made easier with the emergence of Joel Libava’s new e-book The Essential Steps to Researching a Franchise Opportunity.

This book sets the tone on how you can choose the right franchise for you; how to approach a franchisor and what questions to ask, from understanding legal documents and realizing what you should be looking out for in the franchise process.

Unlike any other franchise related book I have reviewed so far, this one will tell you all the things other people will NOT tell you about the pros and cons of investing in a franchise opportunity. Thus, this book sets out with one clear aim in mind- to explain how the franchise process works and to define it in an easy to read and direct writing style.

This is what makes this book accessible to everyone who is interested in finding out more about the franchise industry. This book guides you through the different steps involved in the franchise application process and what to expect and what not to expect from your relations with the franchisor and existing franchisees.

This is your franchise companion, one that you can dip into when you need to know something in particular –what questions to ask the franchisor and existing franchisees. It will be your companion in letting you know the types of questions you should be asking that no-one seems to ever tell you- and you don’t necessarily know to ask…

If you are interested in making an informed business decision, one that will affect your life dramatically, it is worth reading this book…Joel will tell you things about the franchise process that other people usually avoid!