Wednesday, March 4, 2009

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 -

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.