Street Smart Franchising: Read This Before You Buy a Franchise

by Joe Mathews, Deb Percival, Don DeBolt

Book Overview

Experienced franchisees and franchisors tell entrepreneurs what they need to know before they buy a franchise. Second edition includes a sample copy of the entire UFOC plus 40% new and updated... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 1599180219
• ISBN13: 9781599180212
• Release Date: June 2006
• Publisher: Entrepreneur Press
• Length: 234 Pages
• Weight: 0.79 lbs.
• Dimensions: 0.5" x 6.1" x 8.9"

Customer Reviews

This book combines "street smarts" with "book smarts!"

Even though I'm not a teacher, I give it an A+! This is a well written book based on first-hand experience and industry knowledge. It truly is a "must read" for anyone wanting to go into franchising. As a franchise consultant, I have a "recommended reading" list for the candidates I work with and "Street Smart Franchising" is at the top of that list! New franchisees will be at the "head of the class" with information garnered from this book.

An absolute "must-have" for any small business owner

Joe Mathews (former manager of national chains such as Subway and Blimpie), Don DeBolt (former president of the International Franchise Association), and franchise developer Deb Percival apply their combined experience in Street Smart Franchising, a no-holds-barred insider's guide when, where, why, and how to franchise. From the learning curve to successfully oversee a franchise, to the evolution of the franchisee-franchiser relationship, to skillfully locating optimum franchise opportunities and following a six-step franchise investigation process, Street Smart Franchising spells out the risks and the rewards in plain terms. An absolute "must-have" for any small business owner contemplating, starting, running, or expanding a franchise.

All you ever wanted to know about franchising

Reviewed by Mary Greenwood for Reader Views (8/06) "Street Smart Franchising" tells you everything you need to know about franchising and more. According to the authors, the purpose of "Street Smart Franchising" is to prepare you for "...what it takes to succeed in franchising, walk you to the starting line of owning a franchise, show you the finish line of peak productivity ... and give you a proven strategy on how to win the race". "Street Smart Franchising" is chock full of information about franchising. Part One is "What You Need to Know Before You Start Looking" and Part Two is "Investigating Franchises." There are definitions, examples, questionnaires, checklists and acronyms. For example, the authors coined an acronym "KASH" for the success formula for every franchise opportunity: 1) knowledge, 2) attitude, 3, skills, and 4) habits. There is also information about franchising websites, franchise brokers, franchise expos, and franchise magazines. The index is a good tool to access the franchise information. The most helpful part of the book for me was Chapter 9: Six Step Franchise Investigation Process. The six steps are 1) Initial Review, 2) Qualification, 3) Reviewing the Uniform Franchise Offering Circular (UFOC) and Franchise Agreements, 4) Franchisee Validation, Data Gathering, and Analysis, 5) Visiting the Franchisor's Home Office, 6) The Yes/No Decision. "Street Smart Franchising" goes into great detail so the reader can know what to expect and prepare for each step. It asks the questions that the reader might not have considered. Near the end of the chapter is a Decision-Making Checklist. This is a group of "Big Questions", such as "Do I closely match the franchisor's profile of a successful franchisee?" or "Are the franchisor's advertising and marketing programs effective?" A no answer to any of the questions is enough to end the investigation and say no to the franchisor. In the second part of the checklist are questions from each chapter, such as "Am I willing to leave the path of 99% and take the path of the 1%?" or "Has the franchisor done a good job bringing in high-quality franchisees?" If any of these questions are answered no by the reader, then the next three questions should be asked: "What's missing?", "Can I live without this?" or "How do I provide what's missing?" The answers to those three questions will help one to decide whether to continue with the pursuit of a franchise. The authors have a lot of experience. Joe Mathews has worked with franchisors such as Subway and Blimpie; Don DeBolt is a former president of the International Franchise Association; and Deb Percival works in Franchise Development. They tried to "...anticipate every thought you would have, every emotion you would experience, and every action you would take as you investigate, start up and run a franchise." Their goal is to make the reader a "franchise connoisseur." They have achieved this goal and more. If you are thinking of buy

An excellent guide to franchising

Joe Mathews and Don DeBolt have in-dept knowledge and many years of experience in franchising. With the help of Deb Percival, who has extensive knowledge in business writing, they wrote "Street Smart Franchising," a must read before considering entering the world of franchising. This book is a guide to a successful and winning franchise and it is also a guide to develop a great relationship among the franchisor, who is the parent company, and the franchisee, the person buying the franchise. According to the authors, the franchising is a beautiful relationship and should be treated as one body, where all the limbs together with the brain agree on one motion. The franchisor and the franchisee must have good communication, must prove respect for each other and must agree on decisions, otherwise the franchise might fail. Book quote: "A franchise is a community, comprised of franchisees, franchisors, and their employees, and suppliers, each looking out for the other's best interest and committed to the success of all." The book is filled with day to day examples to outline the franchising process of selecting the proper candidate, the franchise key to success and how one should develop great relations with the franchisor. It also describes how to find out what franchise is good for you according to your behaviors. This is explained following the DISC (Dominance, Influence, Steadiness and Compliance) assessment tool. Furthermore, the authors use the KASH (Knowledge, Attitude, Skills and Habits) formula to analyze and forecast the success of a franchise - if you adopt the right attitude by following KASH formula closely, you are in for a prosperous franchise. In addition, this book takes you through the stages of franchising: The Launch, The Grind, Winning, The Zone and The Goodbye. These stages are well explained and the authors mention what to avoid or what to improve on during those phases in order to succeed. I found the book to be very well written and explained. The authors make franchising look so simple and very appealing. There are probably hundreds of books out there on franchising, but this particular book explains the process closely and guides you through all the stages of franchising. It also provides analytical tools to forecast how triumphant you can be at owning a franchise. Written by franchising experts, this book is recommended for those who are interested in franchising. [...]

Joe gets franchising

I've been a franchise business manager and coach for two national franchisors and now own my own franchise. Despite all the best programs, processes and business plans, why do so some franchises fail, both on the unit level and as a concept? Joe explains why, with insight, humor and passion. Anyone buying a franchise should read it. Those selling franchises should feel obligated to read it. Dan Green TruePresence franchisee