Franchising: A Choice for you? Presented by Thom Crimans President of Fran. Net of Mid America THE ©FRANNET FRANCHISE CONNECTION
Who is Fran. Net? • International Franchise Consulting Firm • 70 Offices North America • Worked with the SBA, SCORE and SBDC since 1987 • Our services are FREE to the buyer • PS: We are a franchise!
Thom Crimans • Indiana University – BS Business • 20 years in Franchising • Member International Franchise Association and Franchise Congress • President, Frannet of Mid-America, a franchise • Co-author “Franchising 101” • Rotary International; Rotary Promise Mentor • SCORE volunteer • Society for Human Resource Management
A Make vs. Buy Decision • Start from Scratch, you develop your system by trial and error • A proven franchise concept has already done that • You are buying their expertise
Franchise Myths
Franchise Myth #1: “Only fast food and retail” FACT: Over 3, 000 different franchise companies in more than 80 industries
Franchise Myth #2: “Franchises are expensive” Total Investment Percent Under $50 k 13% $50 k to $100 k to 250 k Over $250 k+ 18% 28% 41% *Franchise Times Magazine Survey, “Franchising is All Right, Thank You. ”
Veteran Incentives Many Franchise companies WANT veterans!
Franchise Myth #3: “High return requires a high investment” FACT: Fastest growing segment in franchising is service businesses which often require less capital investments
Franchise Myth #4: “Industry experience is required” FACT: Only 25% of franchisees are in the same industry as they were employed.
What is a Franchise?
What is a franchise – legal definition? Franchisor who licenses the use of their brand business systems in return for: Franchise fee Royalty Fee Must comply with FTC franchise rule
What is a franchise – Business Definition • A strategy for gaining strategic advantage in a market • Division of labor between franchisor and franchisee
Key to Success • Separate function of owner from function of business • Identify your goals – Business model • Do effective research- Talk to Franchisors
To Learn More • Attend one of our seminars or webinars on franchising • Call your Frannet consultant
Franchise Research Process Talk with Franchisor Get the FDD CALL EXISTING FRANCHISEES!
Thom Crimans Phone: 502 -767 -8723 email: tcrimans@frannet. com
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