Your Research Guide to Franchise Ownership

By Rick Jones, vice president of sales at RecruitMilitary and a former master gunnery sergeant in the United States Marine Corps


I ENCOURAGE JOB SEEKERS to use this guide to learn about franchising and the opportunities available in franchising.

GOVERNMENT AGENCIES

The United States Small Business Administration (SBA) has a wealth of information on starting and managing businesses. The SBA has posted articles on franchising, including:

The Federal Trade Commission (FTC) has posted A Consumer’s Guide to Buying a Franchise. The Guide has the following sections:

  • The Franchise Business Model
  • Is a Franchise Right for You?
  • Finding the Right Opportunity
  • Selecting a Franchise
  • The Franchise Disclosure Document
  • Evaluating Potential Earnings
  • Before You Sign the Franchise Agreement

INDUSTRY ASSOCIATION

The website of the International Franchise Association (IFA) has a page, “About Franchising – Help with Buying a Franchise.” The page contains links to 18 articles under the headings:

  • An Introduction to Franchising
  • Beginning Your Search
  • Navigating the Paper Trail
  • Evaluating a Franchise – Interviewing Both Sides

Also on the page are Resources and Education links:

  • Blog – Resources for Franchise Ownership
  • Consumer Guide to Buying a Franchise
  • Self-Evaluation: Is Franchising for You?
  • Discover the Economic Impact of Franchised Businesses
  • How to Finance Your Franchise
  • Funding Tools and Solutions
  • Key Legal Questions to Ask
  • Franchise Your Business
  • Prospective Franchisee Workbook – Making the Franchise Decision
  • Using a Professional Consultant to Help you Find the Right Franchise

The VetFran Directory of the IFA’s VetFran initiative contains profiles of participating franchisors.

PRIVATE ORGANIZATIONS

Veteran Franchise Centers, a RecruitMilitary strategic partner, offers a free service to veterans looking to learn more about the franchise buying process and options in the market.

WorldFranchising.com, operated by World Franchising Network, Oakland, has a search engine that you can use to find franchises by industry, average total investment, average franchise fee, total operating units, and keyword – as well as an alphabetical listing. Its linked listing of Bond’s Top 100 Franchises is here. Its Veteran’s Franchise Guide is here. Its Franchise University, a set of free, online tutorials on various franchising topics, can be found here.

Franchise Business Review, Portsmouth, New Hampshire, is a franchise market-research firm that performs independent surveys of franchisee satisfaction. Its special reports include Top Franchises for Veterans. Reviews of top franchises can be found here. Articles with advice on buying a franchise are here.

MAGAZINE RACK

To learn about the issues, the major players, and the general buzz in franchising, I suggest that you read magazines and media websites on the subject.

Wednesday April 20, 2016

This article appeared in the May-June 2016 issue of Search & Employ Magazine