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.
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
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
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.
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.
- Entrepreneur, Entrepreneur Media, Inc.
- Franchise Herald, The Franchise Herald
- Franchise Times, Franchise Times Corporation
- Franchise Update, Franchise Update Media Group
- Franchising USA, CGB Publishing
- Franchising.com, Franchise Update Media Group
- Franchising World, International Franchise Association
- Multi-Unit Franchisee, Franchise Update Media Group