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    Success In Franchising: Learn the Secrets of Successful Franchises
    Success In Franchising: Learn the Secrets of Successful Franchises
    Success In Franchising: Learn the Secrets of Successful Franchises
    Ebook186 pages2 hours

    Success In Franchising: Learn the Secrets of Successful Franchises

    By Vincent Gabriel

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    About this ebook

    This book shows franchisees how to ask the right questions, avoid the common pitfalls, and select the right franchise to match their skills, lifestyles and dreams of running their own businesses.

    Drawing from the author's 30-year experience as a food and management consultant, this books provides essential tips for buying a successful franchise.

    Topics covered:
    - What Is A Franchise
    - Types of Popular Franchise
    - How to Evaluate a Franchise Opportunity
    - How To Avoid Potential Conflicts Between The Franchisee and Franchiser
    Interviews with popular franchisers as case studies.

    If you are thinking of starting a business through the franchise route, this is the book for you.
    LanguageEnglish
    PublishereBookIt.com
    Release dateApr 26, 2016
    ISBN9789810727857
    Success In Franchising: Learn the Secrets of Successful Franchises

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    • 5/5
      This is a very good book to learn about the practical aspects of franchising . It provides useful information on the types of franchise models and the benefits for franchisees.

    Book preview

    Success In Franchising - Vincent Gabriel

    Licensing

    Chapter 1

    WHAT IS

    A FRANCHISE?

    In this chapter:

    What are the elements of a franchise

    What acquiring a franchise implies

    Introduction

    This is a beginner’s guide on how you can make a franchise a tool for success. Let us start by taking a definition of a franchise.

    A continuous relationship in which the franchisor provides a licensed privilege to do business, plus assistance in organizing and management in return for a fee from the franchisee. (Source – International Franchise Association)

    From this definition the following elements in a typical franchisor and franchisee relationship should be noted:

    1. There is a contract or agreement between the two parties

    2. The franchisee is allowed to use the franchisor’s brand name

    3. There is payment of a fee and royalty from the franchisee to the franchisor

    4. The franchisor will provide support to the franchisee

    5. A franchise is a continuous relationship between the franchisor and franchisee

    6. A franchise is licensed privilege to do a business

    7. The franchisee is accountable to franchisor

    Elements in a franchisor and franchisee relationship

    Shown on the next page illustrates a typical declaration by the potential franchisee to the franchisor.

    I understand that the granting of a Franchise is at the sole discretion of the Franchisor.

    I understand that the information I am receiving from the Franchisor or from any employee, agent, or franchisee of the Franchisor is highly confidential, has been developed with a great deal of effort and expense to the Franchisor, is being made available to me because of this application, and will be held in strictest confidence.

    I will not divulge or use any date, customer or employee names and addresses, techniques, methods, advertising materials, forms, or other information of whatever kind received from the Franchisor without its consent.

    I understand that I will have to successfully complete the Franchisor’s training school before I will be allowed to open for business.

    I authorize the procurement of an investigative consumer report and understand that it may contain information about my background, character, general reputation, mode of living, credit worthiness and job performance. I understand that, upon written request within a reasonable period of time, I am entitled to additional information concerning the nature and scope of this investigation. I hereby release their officers, agents, employees and servants from any liability arising from the preparation of this report or investigation relating thereto.

    This authorization for release of information includes but is not limited to matters of opinion relating to my character, ability, reputation and past performance. I authorize all persons, schools, companies, corporations, credit bureaus, and law enforcement agencies to release such information without restriction or qualification to agents, employees and servants. I voluntarily waive all recourse and release them from liability for complying with this authorization. This authorization/release shall apply to this as well as any future request for an investigative consumer report by the above named firm. I authorize that a photocopy or facsimile of this release be considered as valid as the original.

    I understand that the information provided by me will be relied upon by the Franchisor.

    (A Sample declaration by the potential franchise to the franchisor)

    Within the duration of the agreement, there is a continuous relationship between the franchisor and franchisee.

    As you read on, you will be equipped with the necessary knowledge to understand the basics of taking up a franchise and to make that decision to start a franchise.

    Summary

    A franchise involves the following:

    1) contract or agreement between two parties

    2) use of a common brand name

    3) payment of a fee

    4) provision of support

    5) continuous relationship

    6) licensed privilege to do a business

    7) accountability of the franchisee to the franchisor

    Chapter 2

    Why You Might

    Consider Taking Up

    A Franchise

    In this chapter:

    is franchising a way for you to start a business

    whether the franchise will help you to achieve your goals in your business

    Introduction

    The franchise is a way of starting a business because:

    (a) by taking up a franchise, you are taught the necessary skills and methods needed to run the business. This reduces the amount of mistakes common to beginners.

    (b) you work with a trade name and a reputation that helps you and the business grow.

    (c) since you use an established system, you do not need to spend too much time and resources inventing something that is already there.

    When do you buy a franchise?

    You should buy a franchise when:

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