Post on 03-Jan-2016
transcript
Presented by:Marvin L. Storm
Types of Entrepreneurs
• Extreme Entrepreneurs• Innovator Entrepreneurs• Founder Entrepreneurs• FranPrenuer• Consultant• Retired: Willingly/Unwilling
History of Franchising
• History
• Licensing Concept vs. Buying
Entrepreneurial Personality
• Lone Wolf vs. Team Player
• Entrepreneur vs. Franchisee
Finding a Franchise
• The Walk Around Approach
• Internet Research:– www.franchising.com
– www.franchisesolutions.com
– www.franchiseopportunities.com
– www.redhotfranchises.com
– www.franchisedirect.com
– www.franchiseclique.com
– www.franchisegator.com
– www.franchise.org
– www.franchisehelp.com
– www.franchisesforsale.com
Finding a Franchise
• Websites to learn more about franchising – Franchise.org
• Franchise Salespersons & Consultant/Brokers – be aware of motivation
Finding a Franchise
Types of Franchise Structures:
Direct Franchising
Regional Developer
Master Franchising
Finding a Franchise
Types of Franchisees:
Unit Franchisee
Multi-Unit Franchisee
Area Developer Franchisee
Types of Franchises
Franchise Industries:
Art FranchisesAutomotive FranchiseChildren’s Franchises
Beauty Franchises
Business Services FranchisesCleaning and Maintenance FranchisesHealth Franchises
Computer and Internet Services Franchises
Construction Franchises
Educational FranchisesEntertainment Franchises
Financial Services Franchises
Fitness FranchisesFood Franchises
Franchise Consultants FranchisesTravel FranchisesHome Services Franchises
Medical FranchisesPet FranchisesRecreation FranchisesRetail Franchises
Senior Care FranchisesSmall Business FranchisesStaffing Franchises
Franchise Disclosure Document
• What is it?
• Why does it exist?
• How to read it?
Be Aware Of:
• Financial strength
• Experience level of management team
• Franchise consultants
• Litigation
• Mature vs. emerging franchisors
Acquiring an Existing Franchise Location
• Same process as buying a business
• Additional criteria: Approval of Franchisor
Benefit to Franchising • Brand
• Valuation at exit
• Learning curve reduced
• Technology
• Marketing
• Support
• Systems are a significant competitive advantage
Franchise Disc• No right or wrong answer
Right For You?• No right or wrong answer
Right For You?• No right or wrong answer
• But an answer that needs to be answered.
Right For You?• No right or wrong answer• But an answer that needs to be
answered.
• Never become a franchisee unless you are a team player
Right For You?• No right or wrong answer• But an answer that needs to be
answered.• Never become a franchisee unless you
are a team player
• Never rely on a franchisor for your success – it is only a tool enabling sucess
Questions?