Franchise

Learn the critical language and appropriate jargon to use when writing tenders, pitching for contracts, and engaging in presenting your business as ready to punch above your weight. UPDATED edition for 2023.

Would you like to create legacy wealth for your family? Are you a leader in your community? Are you a networker and connector? Are you coachable?Are you a team player?Do you believe in your personal business acumen?In this book, you'll hear from Seasoned Franchise Consultant, Teri O'Donnell, who has worked her way up through the ranks of franchising. Teri shares a bit about her transition from the Marine Corps and the career path that led to franchising. She'll provide a comparison of what it's like to start an independent business vs. investing in a franchise and finally lays out the typical path of due diligence and validation you should take before you make the choice to invest. Teri believes knowledge is power! When helping her clients explore opportunities, for Teri, it always starts with the founders and the leadership of the brand.

Frankly Franchising offers tip and tricks to buy your own franchise. It's authored by a Certified Franchise Consultant who is also a former franchisee.

What is a franchise? According to the Merriam-Webster dictionary, the word franchise comes from the French word "franche." The first known use of the word franchise was during 14th -century medieval times. Historically, a franchise was a right granted by a sovereign authority (Blair and Lafontaine, 2005). A sovereign authority granted an individual or group of people significant market power over a particular activity in a designated location for a certain period of time (Blair and Lafontaine, 2005). A payment, the "royalty" to the sovereign authority, was required for this privilege, usually in the form of a share of the produced goods or earnings (Blair and Lafontaine, 2005). Today, the basic principles of franchising remain largely the same. Franchising is employed as a critical strategy for the growth of global commercial activity by many for-profit organizations; these organizations give rights or licenses to an individual or firm to market its goods or services to a particular territory or market. Franchise networks offer entrepreneurs the opportunity to join together in a spirit of collaboration, as well as providing hope for them in achieving their aspirations and financial goals. This particular strategy has led to considerable growth for the franchising industry and represents a wideranging spectrum of business concepts and market segments.

What if buying your own business was as easy as following a blueprint? Are you one of the 86% of the population dissatisfied with your current career? If so, you are not alone. The majority of people are tired of corporate life, fixed schedules and little control over their future. Do you feel your talents and skills are being used to build someone else's dream business? The truth is you don't need to be a millionaire to own a franchise and there are thousands of options besides restaurants. By arming yourself with knowledge, preparation and determination you can realize your dreams. In this book you will learn: The #1 reason people do not open a franchise and how to overcome it. Bulletproof strategies for choosing the right franchise. Warning signs to look for in a franchise. Characteristics of a successful franchise. The realities of running a business. And much more Discover the six steps to successfully buying your own business starting today.