How This Book Is Organized

Franchising For Dummies, 2nd Edition, is organized into seven parts, each covering a major aspect of franchising as well as the standard For Dummies Part of Tens and a couple of appendixes with some extra information. The chapters in each part cover specific information in detail. You can read each chapter (and even each section) independently, which is useful if you have other things to do at the moment. In each chapter, we note other areas of the book that explore in greater detail some of the information you see.

You can also sit back and read this book from cover to cover. We hope that you do, because it’s designed to give you information in a logical progression. Here’s a summary of what you can find in each part.

Part I: Franchising Basics: Separating the Myths from the Facts

Part I gives you an overview of franchising and insight into the relationship between franchisors and franchisees. It tells you about the types of opportunities available within franchising and helps you determine whether you’re cut out to be a franchisee.

Part II: So You Want to Be a Franchisee?

Part II gets you thinking introspectively; it provides sources of information about franchise opportunities to guide your way as well as a process (and corresponding checklists and forms on the CD-ROM for deciding which franchise to get into).

Finding the money to become a franchisee is also important, so we help you determine how much you can afford to invest and where you can get the money. For prospective franchisees, this section is important because it helps you decide whether becoming a franchisee is in your best interests and shows you how to choose which franchise may be right for you.

Before you sign on the dotted line, though, you’d better understand what you’re signing! Part II explains the Uniform Franchise Offering Circular (UFOC), the disclosure document provided to franchisees in the United States. It also talks about how to evaluate a franchise agreement, what you can negotiate with a franchisor, and how to find pros who can help you through the process. Although franchising is a method of business expansion, a significant body of law also surrounds it. This part helps you navigate the legal process of investing in a franchise, so even if you’re not one of the pros, you can look like you are.

Part III: Operating Your Franchise like a Well-Oiled Machine

Part III starts you down the path of establishing and operating your business. It begins by looking at what you likely need first — the location from which your fortunes will be made — followed by the two other most important parts of running your business — your labor and the ingredients and supplies you need.

Every franchise system has a different personality. By that, we mean that they offer different services to their franchisees and provide them with different types and levels of support. Even the way that you, the franchisee, and the other franchisees work together will differ. Part III walks you through some of the most important elements of the franchise relationship and the types of support you are likely to receive. These include training and other support services; assistance in finding and developing your location; how and where you get your inventory and supplies; marketing to your customers; merchandising your location; and hiring, firing, and training your employees. Part III also gives you a glimpse of how you can interact with your franchisor and fellow franchisees. This part begins your process of understanding the difference between a great franchisor and those that may not be ready for prime time.

Part IV: Times Change: Deciding What to Do Next

Part IV talks about the life cycle. The first three parts of the book give you information on selecting the right franchise. Now it’s time to talk about your growth options: investing in additional opportunities with the same franchise system and even investing in opportunities that other franchisors may have available. Many franchisees find that owning one franchise just isn’t enough. This part explains the opportunities and some of the pitfalls of multi-unit ownership, as well as a reality of business: At some point, the relationship is likely to end. We discuss how to prepare for this end and what to do when it happens.

Part V: On the Flip Side: Building Your Own Franchise

Ever wonder where big franchisors come from? They come from companies that have chosen to expand by offering franchises to other people. Part V examines what it takes to become a franchisor, whether your business has what it takes, how to develop a franchise system, how to set fees, and, most important, what not to do. This part also looks at how franchisors expand, both domestically and internationally; what it takes to support a growing franchise system; and some of the mistakes you can avoid.

Part VI: The Part of Tens

In a few short chapters, we give you insight into what we’ve learned in franchising — what we consider to be the keys to franchise success.

Part VII: Appendixes

The appendixes are where you find the definition of that word or two (or ten) that you may not quite understand. This part also welcomes you to the amazing world of bonus material located on the CD-ROM that helps you find the right franchise, establish that franchise in just the right place, and set up rules for your management team and staff. It’s also the place to look for information on what goes into a UFOC and why. We asked some of the leading legal and business experts in the world to help us bring to you an advanced education in franchising, so enjoy delving into the best from the best.

Labels: Franchise Opportunity