Street Smart Franchising: Read This Before You Buy a Franchise Paperback – 1 Jul 2006
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Street Smart Franchising is written to try to increase that 1% by demystifying the franchising process. Yes, the risks are real. Getting into a franchise often costs a good deal of money upfront. The amount of training one must go through is often time consuming. Then, the first few months of business are an uphill battle of finding (and keeping) good employees, dealing with suppliers, and trying to bring in customers while only earning royalties.
However, franchising has its benefits as well. Once through the initial growing pains, most outlets do very good business. Entrepreneurs don't have to worry about branding their merchandise or creating new products. Plus, they have built in training, mentoring, and networking resources. Moreover, there are countless franchising opportunities to suit any lifestyle, interest, or bank account.
The franchise buying process is based on buying in the USA, so not all parts are relevant, but I gleaned some very useful questions that I needed to investigate and get fuller answers to.
Overall a mix of psychologist probing into your personality and the psychology of buying a franchise, along with practical questions and legalities. Not a big book, and you should be able to get through it in a week, and the only one I have read on this subject, with nothing to compare it to, I would rate it a 6 out of 10 for the useful questions it raises, but a bit too much 'psycho babble' for me and too much based on the US system to be truly relevant for the UK.
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