Franchise Articles & Interviews

As a part of our ongoing quest to share the best in Franchise Information, we find that we are asked to either write franchising articles or participate in franchise interviews. Of course, we want to make sure that our readers also have access to our latest thoughts on franchising so we have created this page where we can share our latest efforts.

Franchise Articles To Read -

• A Bad Economy May be the Best Time to Buy a Franchise
• Analyzing Franchise Growth
• Are You An Entrepreneur?
• Franchise Myth Busting
• Franchising with a Financial Game Plan
• Understanding the Franchise Agreement
• Why Franchises are 'Awarded'
• Earning a Six Figure Income as a Business Owner
• Hot Franchises or Proven Franchises?
  
• Thinking Inside the Box
• Deciding If You Should Buy A Franchise (TheBrinkTank Blog)
  

If there are subjects that you would like more franchise information on, please feel free to contact us at info@educatedfranchisee.com. Your question may become the subject of our next franchise article.

Low Cost Franchises and Home Based Franchises

The great news for those who are considering franchising is that the franchising world offers tremendous variety in terms low cost franchises and home based franchises.

When people think about franchising, they normally think about quick service restaurants, hotels and other store front franchises. Although these can be good business opportunities, they are also some of the more expensive franchises. At the other end of the spectrum, you can find quite a few low cost franchises and home based franchises with investments of less than $100K.

One of the great advantages of low-cost franchises and home based franchises is that they require minimal fixed expenses. Home based franchises obviously have no rent and very little overhead often leading to a faster break even. In addition, low cost franchises and home based franchises often have strong growth potential over time and can provide a significant return on investment for those with the right skills and the willingness to work hard.

But, as you might imagine, low cost franchise and home based franchises are not risk free. In some ways, they are riskier than higher cost franchises. These franchises tend to attract individuals that are focused only on cost ignoring the reality that low cost sometimes means low quality. The goal of course is to make sure that you purchase a high quality franchise - regardless of the investment.

If you are interested in home based franchises or low cost franchises, you need to read The Educated Franchisee. The research techniques outlined in The Educated Franchisee will help you discern low cost franchises that offer a good system and support from cheap franchises that fall into the category of buyer beware. By asking the right questions and turning over the right stones, the potential franchisee can identify low-cost franchises and home-based franchises that offer both high quality and reasonable cost.

Recommended Reading

Below is a list of recommended reading. These books are the best of the best. Some of the books offer solid franchise information while others offer more generalized advice in regard to business ownership and the secrets of success.

As you build your library of franchise resources, please consider adding a few of these books to your collection. They provide franchise information that complements and expands on many of the messages you have already read in The Educated Franchisee.

Some of these franchise resources do not provide direct franchise information; instead they provide information on how to be successful or how to prepare yourself for success. These books are valuable franchise resources, as you will discover in your reading.

Good luck and happy reading.

Recommended Reading List

Rich Dad, Poor Dad – Robert Kiyosaki Buy the Book on Amazon.com

Cashflow Quadrant: Rich Dad’s Guide to Financial Freedom – Robert Kiyosaki Buy the Book on Amazon.com

LoopHoles of the Rich – Dianne Kennedy Buy the Book on Amazon.com

The E Myth Revisited– Michael Gerber Buy the Book on Amazon.com

Changing Identities: Unconventional Strategies for Reinventing Your Career – Herminia Ibarra Buy the Book on Amazon.com

The Millionaire Mind – Thomas Stanley Buy the Book on Amazon.com

The Millionaire Next Door – Thomas Stanley and William Danko Buy the Book on Amazon.com

Think and Grow Rich – Napoleon Hill Buy the Book on Amazon.com

Who Moved My Cheese – Spenser Johnson Buy the Book on Amazon.com

Find Your Courage – Margie Warrell Buy the Book on Amazon.com

Street Smart Franchising – Deb Percival, Joe Mathews, Don DeBolt Buy the Book on Amazon.com

Franchise Opportunity

Finding just the right franchise opportunity takes both time and effort. As described in The Educated Franchisee, the first step is to identify reliable franchise resources. Places and people you can rely on to give you great information about various franchise opportunities. The websites listed below are some of the best on the web. Not only can they provide you with value information on a given franchise opportunity, they also can act as franchise resources with articles and advice

In Chapter 9 of The Educated Franchisee we discuss how these franchise opportunity websites can be used as franchise resources to gather information. Take some time to explore the information these websites provide.

There are several reputable franchise opportunity web sites. Feel free to safely explore the franchise resources available at any of the following websites:

Premier Franchise Opportunity Websites

Bison, Inc (Franchise Opportunity website) www.bison.com Since 1995, BISON has been recognized as a leading online franchise resource. Featuring the nation’s fastest-growing franchises and business opportunities, BISON has always worked hard to match qualified entrepreneurs with successful businesses. Our goal is to provide timely franchise information in a format that is well-organized, easy to navigate and valuable to the reader, and we pride ourselves in providing high-quality leads to our franchisor clients. Prospects can browse the franchise showcases alphabetically or by category, search for franchise news, and gain franchise-related advice from industry experts. BISON is a pure lead site, dedicated to protecting our visitors’ personal information.

Other Franchise Opportunity Websites

Go to Website Entreprenuer.com (Franchise Opportunity website) http://www.entrepreneur.com/

Go to Website Franchise Gator (Franchise Opportunity website) www.franchisegator.com

Go to Website Franchise Solutions (Franchise Opportunity website) www.franchisesolutions.com

Go to Website FranchiseOpportunities.com (Franchise Opportunity website) www.franchiseopportunities.com

Go to Website Franchising.com (Franchise Opportunity website) www.franchising.com

Go to Website World Franchising (Franchise Opportunity website) www.worldfranchising.com

If you are looking for information on a franchise opportunity, the above mentioned websites can be a great starting place. Even though the content is predominantly advertising driven, you should find the franchise resources to be reliable. Good luck.

Magazines

As with all sectors, the franchise business has a number of respectable magazines and business journals. These magazines constantly survey the franchise community to identify the top franchises. The top 100 franchises are representative of the franchise businesses that achieved a certain level of success in the previous year(s).

Similar to other investments, identification of the top franchises does not indicate future success, so this, by itself, can only be a starting point for you. Look at the top 100 franchises, but do not limit yourself to this list.

In addition to identifying top franchises, these magazines also provide a lot of information on a variety of other topics in the world of franchising. Everything from the latest trends in employee management to healthcare initiatives is discussed from time to time.

This is a list of the strongest magazines focused on franchising.

Premier Franchise Magazines

Other Franchise Magazines

Go to Website Franchising World 1 202 628 8000 http://www.franchise.org

Go to Website Franchise Times – The News and Information Source for Franchising 1-800-528-3296 http://www.franchisetimes.com

Go to Website Franchise Update 1-408-997-7795 www.franchise-update.com

Go to Website The Franchise Handbook 1-414-272-9973 http://www.franchise1.com

Go to Website Area Developer 1-408-997-7795 http://www.areadeveloper.us

Go to Website Entrepreneur Magazine 1-800-274-6229 https://www.entrepreneur.com

These magazines do more than just identify the top franchises or list the top 100 franchises; they offer resources that you can rely on over the years. Get to know these magazines and order one.

Franchise Business Data & Analysis

In measuring business opportunities, access to good data and analysis can be vital. The franchise business is no exception. Franchise opportunities flourish where the data and analysis support growth. The best place to begin gathering data is directly from the franchisor. Any high quality franchise business will have access to the data impacting its business model. But keep in mind, the franchise opportunity usually pays a considerable fee for this data.

There are also companies that supply independent surveys on specific franchise opportunities. These surveys usually include interviews with franchisees from the specific franchise business and a general sense for the health of the system. Although these should not be used in lieu of your due diligence, they can be a useful starting place.

If you want to gather general data on the franchise business, there are other places to look. Every few years a comprehensive study is conducted on the franchise business. A few of these studies are listed here for download. Also listed are various companies that offer packages or specialized studies on either the franchise business or on specific franchise opportunities. Although these studies can be costly, in some cases, they are the only place to secure the data you may need.

Premier Suppliers of Franchise Business Data and Analysis

Other Suppliers of Franchise Business Data and Analysis

Go to Website FRANdata 800 485 9570 www.frandata.com FRANdata’s objective is to positively impact decisions at all levels of the franchise industry. For more than 15 years the FRANdata has been the company everyone turns to for information with which to support business decisions and activities of businesses operating in and around the franchise world.

Download FRANdata Download The Profile of Franchising is a study conducted by FRANdata and published in Franchising World Magazine in March 2007. Click to go to our Download Center and download the report.

Go to Website FranSurvey 800 410 5205 www.fransurvey.com Fransurvey.com is the only franchise rating system in the country where franchisees get to do the voting.

Download Price Waterhouse Study - Download The Economic Impact of Franchising is a study for the International Franchise Assosciation Educational Foundation and was conducted by Price Waterhouse. This is a lengthy study at over 400 pages. In the Download Center we have divided the study into three sections for ease of use.

If you are looking for great sources of information on the franchise business, the above mentioned sources are a great starting place. If you are looking for access to additional resources regarding the franchise business, please feel free to contact us at info@educatedfranchisee.com and we will do our best to assist.

Legal Contacts - Franchise Law

This page is completely dedicated to franchise law and the lawyers that specialize in franchise law. As is discussed in The Educated Franchisee, it is important to use the right advisor for the right task. If you feel that using a franchise lawyer is needed to review the franchise agreement, then it is critical to contact a lawyer that specializes in franchise law.

All of the lawyers listed below have extensive experience in franchise law and in the intricacies of both the Franchise Disclosure Document and the Franchise Agreement. A high quality franchise lawyer can help you understand the Franchise agreement and raise any flags should the franchise agreement have abnormal language.

As discussed in The Educated Franchisee, it is your responsibility to understand the Franchise Agreement. Once you have read the Franchise Agreement, use these lawyers to further educate you regarding the nature of the Franchise Agreement and the relevant franchise law that may apply. You can feel confident in contacting any one of these high quality franchise attorneys listed below to help you better understand franchise law and how it applies to the franchise agreement you are reviewing.

Premier Advisors Specializing in Franchise Law

Other Advisors Specializing in Franchise Law

Colorado Jeff Brown J. Brown & Assoc Denver, CO.80222 (303) 757 3800 Jeff@jbrownlegal.com Garrett Tuttle or Kim McCullough Perkins Coie Denver, CO 80202 303-291-2300 gtuttle@perkinscoie.com ; mccuk@perkinscoie.com www.perkinscoie.com Kevin Hein Snell & Wilmer Denver, CO 80202 (303) 634-2015 khein@swlaw.com

Florida Debra Hill The Smith Hill Law Firm Jacksonville, FL 32217 +1 (904) 346-0140 WK +1 (904) 346-3933 FX dhill@fdn.com

Georgia Joseph J. Gottlieb Cohen Goldstein Port & Gottlieb, LLP Atlanta, Georgia 30328 (678) 775-3545 (770) 901-9417 fax www.cgpglaw.com

Massachusetts Eric H. Karp, Partner Witmer, Karp, Warner & Ryan LLP Boston, MA 02109-4812 Phone: (617) 423-7250 Fax: (617) 423-7251 ekarp@wkwrlaw.com http://wkwrlaw.com

Minnesota Kevin Koepke Firm: Koepke Law Group Plymouth, MN 55447 Phone: 763 201 1201 Fax 763 201 1212 kkoepke@koepkelawgroup.com www.koepkelawgroup.com

New Hampshire Steven Siegel New Hampshire 603-726-5510 siegel4@adelphia.net

New Jersey Robert Egan Archer & Greiner, P.C. Haddonfield, NJ 08055 (856) 354-3079 http://www.archerlaw.com regan@archerlaw.com

North Carolina Jim Cobb Wyrick Robbins Yates & Ponton LLP Raleigh, NORTH CAROLINA 27607 (919)781-4000 Jcobb@wyrick.com http://www.wyrick.com

Oregon Kevin E. Brannon Schwabe, Williamson & Wyatt Portland, OR 97204 503-222-9981 Direct: 503-7962874 kbrannon@schwabe.com www.schwabe.com

Pennsylvania Gerald Cook Fox Rothschild Pittsburgh, PA 1522 (412) 391-6428 (412) 580-2110 gcook@foxrothschild.com www.foxrothschild.com Jonathan T. Krassenstein, Esq. Krassenstein & Associates Wexford, PA 15090 (724) 935-6227 jtk@krasslaw.com www.krasslaw.com Nancy Lanard, P.C. Maple Glen, PA 19002-3005 215 525 1165 WK 215 542-0346 FX nlanard@lanardlaw.com www.lanardlaw.com

Texas Jim Sheets Fort Worth, TX 76102 817-335-6040

Virginia Warren Lewis Firm: Williams Mullen McLean, VA 22101 703-760-5200, ext. 1228 wlewis@williamsmullen.com James Wilson Wilson Stoyanoff, PLC Richmond, VA. 23233 Wk: 804 864 5268 Mo: 804 334 5280 jim@wilsonstoyanoff.com

Wisconsin Chad J. Richter Firm: O'Neil, Cannon, Hollman, DeJong S.C. Milwaukee, WI 53202 Phone: (414) 276-5000 Fax: (414) 276-6581

Franchise Law is a specialty. The above mentioned attorneys can help you fully understand the franchise agreement, the Franchise Disclosure Document and the nature of the relationship you are considering entering.