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• Cover
• Foreword
• Introduction
• About This Book
• Foolish Assumptions
• Icons Used in This Book
• Beyond the Book
• Where to Go from Here
• Part 1: Wrapping Your Brain Around Franchising
• Chapter 1: The Power of the Brand
• Tracing the History of Franchising
• What Is a Franchise, Anyway?
• What’s the Big Deal with Brands?
• Franchise Siblings: Three Types of Franchising
• The Roles and Goals of Franchisors and Franchisees
• Nuances of the Franchisor/Franchisee Relationship
• Chapter 2: Franchises Come in Different Sizes
• Getting Started with a Single Franchise
• Adding Franchises, One at a Time
• Developing a Territory on Your Own
• Becoming a Master Franchisee
• The Area Rep: Master Franchise Lite
• Sharing Risks and Rewards in a Joint Venture
• Councils, Associations, Cooperatives, and Buying Groups
• Buying Franchisor-Owned Locations
• Chapter 3: Mirror, Mirror, on the Wall
• Starting Your Own or Joining a Team
• Consider the Pros and Cons
• Being Realistic about Being a Franchisee
• Looking in the Mirror: A Self-Evaluation
• Chapter 4: The Legal Issues
• Franchise Regulation: A Little History
• The State Regulatory Landscape
• The Franchise Disclosure Document
• Negotiating with a Franchisor
• Part 2: Buying a Franchise
• Chapter 5: Researching Franchise Opportunities
• Digging Up the Good Information
• The Role, Risk, and Benefits of Brokers
• Deciding Whether to Buy Old or New
• Benchmarking Franchise Offerings
• Going Back Home and Eyeing Locations
• Chapter 6: Raising Capital: Wowing, Wrangling, and Winning
• Examining Your Current Finances
• Determining Franchise Investment
• Do Your Homework before Holding Out Your Cup
• Raising Capital
• Social Franchising and Funding
• Part 3: Operating Like a Well-Oiled Machine
• Chapter 7: Choosing a Location
• Selecting a Site
• Finding Your Franchise’s Habitat
• Protected and Exclusive Areas
• Encroachment Policies
• Signing the Lease
• Meeting Your Franchise’s Requirements
• Chapter 8: Getting the Goods
• The Basic Requirements
• Meeting Approved Standards and Specifications
• The Role of Buying Groups and Purchasing Cooperatives
• Maintaining Inventory
• Chapter 9: Training and Hiring
• Getting Good Training for Yourself and Your Management
• Understanding Joint Employment and Why It Spooks Franchisors
• Training Your Staff
• Building and Leading Your Team Effectively
• Conducting Interviews
• Retaining Good Employees with a Good Work Environment
• Chapter 10: Working with Franchisors and Fellow Franchisees
• Playing by the Rules
• Building a Relationship with Your Franchisor
• Dealing with Change
• Reaching Out to Your Fellow Franchisees
• Chapter 11: Attracting and Keeping Customers
• Creating an Effective Marketing Plan
• Evaluating National and Local Advertising Strategies
• All Hail Customer Service
• Part 4: Expanding or Cashing Out
• Chapter 12: Acquiring Other Franchises
• Assessing the Advantages and Disadvantages of Multi-Unit Operation
• Checking Your Franchise Agreement: Can You Buy Another Franchise?
• Reviewing Your Resources
• Understanding Your Purchase Options
• Chapter 13: When the End Is Nigh
• Decisions, Decisions
• Going for Round Two (or Three or Four): The Successor Franchise
• Bowing Out at the Right Time
• Leaving It to Your Children
• Selling Out
• Now That the Party’s Over
• Part 5: Building Your Own Franchise
• Chapter 14: From Small Business Owner to Franchisor
• Turning Your Small Business into a Bigger Chain
• Criteria for Becoming a Franchisor
• Beginning Your Franchise Program: Who Should Take the Reins?
• Passing Go with Your Franchise Idea
• Chapter 15: Recruiting Franchisees
• The Essence of the Ideal Franchisee
• Focusing Your Market Strategy
• Reeling In Great Franchisees
• Developing the Recruitment Organization
• Ten Steps to Franchise Recruitment
• Working the Validation Process
• The Franchise Sales Presentation
• Finalizing the Selection Process
• Chapter 16: Expanding Abroad: International Franchising
• Taking Your Franchise Abroad: Know What You’re Getting Into
• Decisions, Decisions: Whether to Make the Leap
• If You Decide to Cross the Border
• Bringing Foreign Franchises to the United States
• Chapter 17: A World of Good with Social Franchising
• BOP: The Base of the Pyramid
• The Challenges for Social Franchising
• CFWshops: An Example of a Social Franchise System
• Who Are the Franchisor and Franchisee in a Social Franchise?
• Financing and Developmental Benchmarks for Social Franchises
• Delivering on the Brand Promise
• Resources for Social Franchising
• Part 6: The Part of Tens
• Chapter 18: Ten Keys to Franchisee Success
• Make Sure You Have Enough Money
• Follow the System
• Don’t Neglect Your Loved Ones
• Be Enthusiastic
• Recruit the Best Talent and Treat Them with Respect
• Train Your Employees
• Give Customers Great Service
• Get Involved with the Community
• Stay in Touch with Your Franchisor and Fellow Franchisees
• Pay Attention to the Details
• Chapter 19: Ten Questions to Ask before Becoming a Franchisor
• How Good Is Your Product/Service?
• Can You Manage the System?
• Do You Have the Commitment?
• Can You Systemize Your Business?
• Can You Train Your Franchisees?
• Can You Localize if Needed?
• Do You Have the Necessary Capital?
• Are Enough Franchisees Out There?
• Do You Understand Franchising?
• Are You Willing to Hire Proper Franchise Professionals?
• Appendix: Glossary of Common Franchising Terms
• About the Authors
• Connect with Dummies
• End User License Agreement