Rick Bisio's Blog

Franchise Consultant Speaks in Orlando – A Franchise that Takes off in Topeka might Tank in Tampa

Rick Bisio (FranChioce Consulting) — Fri, 15 May 2009 16:14:31 -0700

Rick Bisio speaks to students about location, demographics and the prosperity of a franchise in different market areas

Orlando, FL - Current economic conditions are causing many people to lose their jobs or suffer cut-backs, resulting in lower pay and/or fewer work hours. Many are forced to work two jobs if they are fortunate to find additional work. Others are going into business for themselves. Rick Bisio, franchise consultant and author of the book, "The Educated Franchisee," is in the right business today. Rick educates entrepreneurs to make good decisions when researching franchises and becoming franchisees.

Rick spoke at a recent seminar to provide franchise information to students. The topic was "location, location, location." Rick said, "There are numerous reasons a franchise that is prosperous in one town will do poorly in another. Even if the franchisee is doing everything right, the business can be affected by territory size, population density or demographics."

Rick advised his students to compare the territories and to question other franchisees who are in comparable areas as to population density and demographics to see how successful they are. "When you analyze the demographics you should be considering a number of factors including gender, race, age, income, education, home ownership, home values and employment status. Does your franchise appeal to the people in your market area?"

As the lecture concluded, Rick said, "Research your market and be sure you are in one that is expected to remain the same or improve over the next 10 years; 10 years is a common franchise contract term."

Rick has been recognized as one of the premier franchise consultants in the US and has mentored thousands of individuals on making the right decisions about franchise ownership. Visit http://www.educatedfranchisee.com for a free newsletter and more information.

Contact:

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com
http://www.educatedfranchisee.com

Location, Location, Location: How to Determine if a Specific Franchise Will Work in Your Area

Rick Bisio (FranChioce Consulting) — Fri, 15 May 2009 15:47:48 -0700

It is crucial, as part of your franchise education, to compare your franchise territory to other territories in the system. Here are some specific areas to investigate.

Total population numbers

The majority of franchises are sold by territory. The franchisor sets the territory size required to support that particular franchise. Careful franchisors will not knowingly sell a territory that doesn't have the population numbers to support their franchise. But they will sell territories that match their minimum criteria. If you are buying one of those marginal territories, you want to discover that up front, and you want to determine if the territory size is expected to increase or decrease in the foreseeable future. Ask the franchisor for the names of franchisees whose territories are similar in size to the territory you are considering. Call them and find out how successful they are.

Population density

Ask the franchisor for the normal radius for attracting customers. Is it 2 miles? 10 miles? Then ask for the names of franchisees who have population densities comparable to the densities in the territory you are looking at. Call them to find out how successful they are.

Demographics

A futurist named Andrew Zolli summarized the importance of demographics:

"You can't understand the future without demographics. The composition of a society - whether its citizens are old or young, prosperous or declining, rural or urban - shapes every aspect of civic life, from politics, economics, and culture to the kinds of products, services, and businesses that are likely to succeed or fail. Demographics isn't destiny, but it's close."¹

When you study the demographics of your territory, you will be considering a number of factors, possibly including gender, race, age, income, disabilities, education, home ownership, number and value of single-family homes, and employment status.Will your franchise attract a broad demographic or does it have specific appeal? If the franchise serves a market segment - say students, wealthy homeowners, or small business owners, for example, does the territory you're considering have enough of those customers? Is their average income and education level in-line with the franchises typical customer's income and education? Ask the franchisor which territories are similar in terms of demographics. Call them and find out how successful they are.

Perform Your Own Research to Get the Best Franchise Information

In addition to speaking with existing franchisees, do your own research on current and projected population totals, population density, and demographics, including economic trends. You should be able to find information on line. Visit your local reference librarian to see what s/he has available. Additionally, your state may offer free services.

Don't do the mistake of founding a franchise purchasing decision on your level of enthusiasm or on what you personally think will work. Make sure you have a market, and that the market is expected to stay the same or improve over the next 10 years (10 years is a common franchise contract term).

If you are ready to work hard, becoming a franchise owner can help you reach your financial and lifestyle goals. Just make certain to eliminate as much risk as possible. Do your research before you sign on the dotted line.

¹ Andrew Zolli, "Demographics: The Population Hourglass," Fast Company Magazine, March, 2006.

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it. An educated franchise buyer will move into the franchisee role with their expectations properly set and will have a heightened potential for success within the franchise system creating a win/win for all involved.

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Rick Bisio, Franchise Consultant, St. Petersburg, explains Mandatory Franchise Marketing Programs

Rick Bisio (FranChioce Consulting) — Fri, 15 May 2009 15:43:22 -0700

The marketing power of a franchise system provides the same advantages as a business with a dozen locations in a market.

St. Petersburg, FL - Rick Bisio is a well-respected franchise consultant and author of the franchise training book, "The Educated Franchisee." Rick speaks at seminars and has trained thousands of entrepreneurs how to make good decisions in the franchise business.

At a recent meeting for aspiring entrepreneurs, Rick gave a lecture about franchises and marketing. Rick said, "One of the several advantages of joining a franchise is the marketing that is made possible when you're part of a large organization. The franchisor is a key resource that works to your advantage because he can negotiate national pricing agreements and pass the savings on to the local franchisees."

Rick told the group what questions to ask when considering purchasing a franchise. "Ask how much marketing the franchisor will execute in your area and how the marketing dollars are allocated and the type of marketing that is done for your area. Understand who is responsible for different components of marketing and how much of the cost is included in the mandatory marketing contribution. Most importantly, find out the opinions of other franchisees; are they happy with the marketing and does it appear to be effective?"

Rick Bisio has consistently been recognized as one of the premier franchise consultants in the United States and has successfully worked with thousands of individuals helping them to make the right decision regarding franchise ownership. To learn more about how to identify a great franchise businesses and stacking the deck in your favor, go to http://www.educatedfranchisee.com

Contact:

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com
http://www.educatedfranchisee.com

This Press Release was submitted by Right Now Marketing Group, LLC

Evaluating Franchise Marketing Programs - Hint – don’t let the word “mandatory” color your perceptions.

Rick Bisio (FranChioce Consulting) — Fri, 15 May 2009 15:20:18 -0700

One of the several benefits of joining a franchise is the marketing that is made possible when you're part of a large organization. As I say in Chapter 6 of my franchise book, The Educated Franchisee, the marketing power of a franchise system delivers the same advantages as a business with a dozen locations in a market. The franchisor is significantly more efficient than any independent franchisee can be. Professional marketing materials are expensive and valuable, so having materials provided by the franchisor is a key resource that works to your advantage.

The marketing should drive clients to the franchisees without having to hire and manage an outside marketing firm. A uniform marketing message helps establish the franchise brand across the marketing area. Because all the franchisees pay into the marketing fund, the franchisor can hire a strong marketing firm and afford larger media buys that an individual franchisee probably could not afford. And because a large franchisor has enough marketing volume, the franchisor can negotiate national pricing agreements and deliver saving to the local franchisees.

So Why is the National Marketing Program often Problematic?

The marketing program is usually an area of difference of opinion between franchisors and franchisees. Occasionally, the conflict is warranted. Many times, it's not.

Look at this.

· Marketing programs are funded by mandatory contributions made by franchisees. Some franchisors demand a fixed amount; others charge a percentage founded on the gross sales of the unit, but either way, it's required of all franchisees.

· Although we all see advertisements, direct mail pieces, etc., most of us actually have no idea what goes into creating, executing and monitoring these programs. . But we think we do.

· It's always challenging to spend money on something you have little or no control over. Perhaps especially hard for the entrepreneurial individuals who gravitate to franchise ownership.

· It's easy to second guess, and consider the expense, without seeing the absolute necessity of a strong franchise marketing program.

That said, marketing constitutes an art as well as a science. Some programs are efficient and some are not, so you do want to do your best to evaluate the program and make sure it will work before you sign any franchise documents!

Here are some questions to ask the franchisor:

· How much marketing will the franchisor carry in your market? How are marketing dollars allocated? Ad dollars go a lot further in rural Wisconsin than they do in New York City.

· Is your market a typical market? If the majority of the materials are targeted to a certain demographic, and your market is constituted of a different demographic, how will that be handled?

· Are franchisees responsible for any marketing, and if so, what components? Is the cost of those components included in the mandatory marketing contribution?

· What percentage of the marketing budget is spent on image advertising vs. call to action advertising?

· What elements of the program are most effective?

· How is the marketing program evaluated, and how often? Are results shared with franchisees?

· Is the marketing program fully transparent? Will the franchisor provide you with an annual accounting of both the income and the expenses of the national advertising program?

· Ask the franchisor if s/he will send you copies of their ads and promotional pieces during your franchise investigation. Most franchisors will send items that are in the public domain.

Here are some questions to ask the franchisees:

· Do they keep track of how their customers discover them? If so, what percentage is from the marketing program (vs. word of mouth, driving by, etc.)?

· Which tactics are the most effective? Electronic marketing? Television ads? Direct mail?

· What things - if any - would the franchisee modify about the marketing program?

The bottom line.

Maybe the easiest measure is this: If you talk to a number of franchisees, and most are unhappy with the marketing program (for reasons other than cost), you will probably be unhappy as well.

Conversely, if most franchisees find the program is working (even if they consider it costs too much) it is probably an effective franchise marketing program that will be an important factor in your future success!

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Rick Bisio Speaks to Entrepreneurs in Tampa Florida about Researching a Franchise Resale

Rick Bisio (FranChioce Consulting) — Fri, 20 Mar 2009 12:33:14 -0700

"Buying an existing franchise will give you a solid franchise education," said Rick Bisio as he shared tips and information about studying an existing franchise

Tampa, Fl - Rick Bisio, franchise consultant, spoke to aspiring entrepreneurs at a meeting held in Tampa, Florida. He discussed franchising as he focused on researching and purchasing existing franchises. The first tip Rick gave the group was, "Be discreet; most sellers will not broadcast that the business is for sale. This is positive for you and for the seller. Selling a business takes time and it is in everyone's best interest if the employees and customers do not spend time concerned about "what ifs."

Rick explained his system for researching a franchise; study the franchisor, meet the owner, call other franchisees, explore external changes, learn about the employees and examine the physical plant.

"It is important that you study the franchisor, as this is the person you will be signing a long-term contract with, not the seller," Rick said. "If you are satisfied that this franchise will conform to your skill set and fulfill your financial and lifestyle needs, then it is time to meet with the owner. Find out why he/she wants to sell and ask to see the history of the franchise's financial performance. The seller should be happy to supply balance sheets, income statements, tax returns and other financial statements."

Rick recommends calling other franchisees in the business to learn more about the possible downsides, as it is unlikely that the seller will readily disclose this information. "You must execute your due diligence to discover if there are internal or external problems that will make the business undesirable. Visit the area Town Hall and inquire if any large projects are slated for the area where the franchise is placed. These types of projects can be positive or negative; it is helpful to know what is happening in the area."

If one is happy with all they have found out at this point, and they are seriously considering purchasing the franchise, Rick added some final advice, "Find out about the employees, their salaries, the hours they work, their skills and the rate of employee turnover. Ask if there are any employment agreements or understandings, salary disputes, etc... Examine the physical plant. Look into the location and equipment, the status and terms of the lease, the temperament and availability of the landlord, and the value, age and condition of all equipment and vehicles."

The group of young entrepreneurs was quite satisfied with the information and advice provided by Rick Bisio, as they gave a hearty applause after his speech. They left with a good understanding that to guarantee success in purchasing a franchise, they must do good research. They learned the importance of making sure they will like the business model and franchise management team, they understand the financials and are aware of the surrounding community.

Rick Bisio of FranChoice Consulting is the author of the book, The Educated Franchisee. To learn more about how to identify a great franchise businesses and stacking the deck in your favor, go to http://www.educatedfranchisee.com or buy the book - The Educated Franchisee - on Amazon.com. Rick's books and articles cover everything you need to know about buying a franchise, owning a franchise, franchising skills and requirements, finding the right franchise, recognizing great business opportunities, starting and building your own business and more about business franchises.

About Purchasing an Existing Franchise: Investigating a Franchise Resale - Cover Your Bases

Rick Bisio (FranChioce Consulting) — Fri, 20 Mar 2009 11:50:17 -0700

ying an existing franchise will give you a solid franchise education! Here is a primer on how to go about studying an existing franchise:

1. Be discreet. Most sellers will not broadcast that the business is for sale. This is positive for you, and for the seller. Selling a business requires time, and it is in everyone's best interest that employees and customers don't spend time concerned about "what ifs."

2. Study the franchisor. Do this precisely as you would if you were interested in buying a new franchise. Do this first - before spending time looking into the existing franchise unit. Recall, you will be signing a multi-year agreement with the franchisor, not the seller. You want to like the business and trust that you and the franchisor will work well together. See chapters 10-12 of the franchise book The Educated Franchisee for particular steps to take in assessing the franchise opportunity.

3. Meet the Owner. Once you are satisfied that the franchise conforms to your skill set and can fulfill your financial and lifestyle needs, make an appointment with the owner of the franchise unit you are looking at. You will want to collect a lot of franchise information, including why s/he wants to sell, and you'll want to study the history of the franchise's financial performance. The seller should supply balance sheets, income statements, tax returns and other financial statements. Check them with the franchisor to determine how they match up with other franchisees' figures. Hire an accountant knowledgeable with this type of business who will look over the figures as well. This information will be decisive to your decision and will obviously be a crucial factor in arriving at the price you will offer.

4. Call Other Franchisees. It is unlikely the selling franchise owner will tell you the downsides of the business. You will have to execute your due diligence to discover if there are internal or external problems that make the business undesirable. Talk to other franchisees to gain a feeling pertaining their level of success and then use what you have learned to the local franchise you are looking at purchasing.

5. Explore External Changes. You might also want to pay a visit to Town Hall and inquire if any large projects are slated for the area where the franchise is placed. These types of projects can be positive or negative. You want to recognize what is happening in the area where the business will be and be at ease that any changes that may take place.

6. Find out About the Employees. If you are pleased with the answers you get to the above questions, move on to questions about employees. What are their salaries? What hours do they work? Are they skilled? Are they likely to stay on? Are there any employment agreement* or understandings, salary disputes, etc. outstanding?

7. Examine the Physical Plant. If things are going well, look into location and equipment, which will further help you put a value on the business. You need to know the status and terms of the lease, the temperament and availability of the landlord, and the value, age and shape of all equipment and vehicles.

To guarantee purchasing an existing franchise will be successful, you must do your research. Make certain you like the business model and the franchise management team. Make certain you'll like what you'll do each day. Understand the financials. Use experts to help you in your evaluation. Dig deep for information within the company and within the community. And remember that purchasing a business is a negotiation. Make certain the price is fair and that you own the skills to make the business a great success.

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Business Opportunity - Franchise for Sale: Rick Bisio, Franchise Consultant Visits Miami to Speak about Buying a Franchise Resale

Rick Bisio (FranChioce Consulting) — Sun, 08 Mar 2009 09:04:26 -0700

Some franchise candidates wish to gain their mark by starting a franchise business from scratch while others prefer to skip the startup and purchase an up-and-running franchise business

Miami, FL -- In today's down economy, with high unemployment, many people are finding themselves out of work and unable to afford the risk involved in starting a new business. Rick Bisio recently spoke to a group of young entrepreneurs in Miami who were considering going into the franchise business. Rick discussed the advantages and disadvantages of buying an existing franchise unit.

Rick Bisio introduced himself to the group and began, "Buying a franchise is less risky than new business start-ups. Today, I'm going to talk about buying a franchise resale. Finding an existing franchise that is part of an established franchise system, one that fulfills your needs and matches your skills in an area where you want to live can take a lot of time and it generally requires a larger investment. If you choose this path to business ownership, it is a good idea to hire a business advisor to help determine the value of the business. Taking over an existing business is like climbing on a moving train; you're already going down the tracks; your task is to figure out how to operate the train before it derails."

Rick went on to discuss the advantages to buying a franchise resale. He explained that a successful existing business already has a customer base and a staff of trained employees. Rick said, "Besides avoiding all the work involved in a new business startup, you will likely be able to assume the existing lease, rather than search for space and wait for the build-out to be accomplished. Another big advantage is you may step right into a positive cash flow situation."

Contact:

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com
http://www.educatedfranchisee.com

Existing Franchise for Sale: The advantages and disadvantages of buying an existing franchise unit

Rick Bisio (FranChioce Consulting) — Sun, 08 Mar 2009 09:01:20 -0700

Some franchise candidates want to earn their mark by building a franchise business from scratch. Others opt to skip the startup and purchase an up-and-running franchise business.

If you consider you might be part of the latter group, here is some franchise information to study before you get your heart set on this path:

1. Identifying an existing franchise that is part of a well grounded franchise system, fills your needs, fits your skills, at a price you can afford, in an area where you wish to live can take time. Going concerns that match these criteria don't come along frequently.

2. You commonly have to pay more for a successful existing franchise than you would pay to build the franchise yourself.

3. Whereas franchisors may give you an idea of what it costs to build a franchise in Item 7 of the Franchise Disclosure Document, you often must rely on your own resources to find out the value of an existing franchise. You need to know how to appraise the business, or you need good advisors who are familiar with the business category or even with that franchise system.

4. Taking over an existing business can be a little like climbing on a moving train. The train is already going down the tracks. Your job is to figure out how to drive the train before it derails.

If you come across a suitable franchise, there can be numerous nice advantages.

1. A thriving existing business should already have a proven client base you can rely on once you take over.

2. A flourishing existing business should also have a happy group of employees that know how to lead the day-to-day operations of the business.

3. You should be able to assume the existing lease thereby eliminating the need to look for space and wait for the build-out to be achieved.

4. You may step right into a positive cash flow situation.

Over the years I have worked with a lot of people. Most have an opinion in relation to whether it is more beneficial to pay a premium for a thriving existing business or build a business from scratch. I can tell you that both approaches have their pluses and minuses. Recall that there are no free rides. If the business is flourishing, stable and profitable, it is going to cost more to purchase and you will have a smaller upside. In other words, you are buying cash flow at the expense of growth potential.

On the other hand, if you start your own franchised business it might cost less with an faster learning curve but the ramp up to cash flow break even will be longer.

Which represents the right answer? Well that is for you to decide. It you need advice, feel free to contact us at The Educated Franchise.

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Franchise Education: The 6 Biggest Mistakes People Make at Discovery Day

Rick Bisio (FranChioce Consulting) — Wed, 18 Feb 2009 13:03:54 -0800

by Rick Bisio - Franchise Consultant

& Author of the Franchise Book -The Educated Franchisee

You've discovered a franchise that appears to be a good fit. You've talked to existing franchisees, read the FDD, and gathered nearly all the franchise information you need. Now it's time for Discovery Day.

Discovery Day constitutes a two-way street organized for you to discover more about the franchisor, and for the franchisor to discover more about you. Not all franchisors hold discovery days, but most do. Discovery Days are generally scheduled at the end of the discovery process and are held at the franchisor's headquarters. This ensures that time can be spent focusing on the franchise information issues that can only be answered face to face.

It's your chance to meet the franchise management team, assess their operation, and complete your franchise education. It's the franchisor's opportunity to make a decision on whether or not you are likely to be a successful franchisee.

Make certain you put your best foot forward and avoid these 6 common pitfalls!

1. Remember to sell yourself.

A top quality franchise is awarded - not sold. This is not like purchasing a car. This is more like a marriage. Both parties are entering into a long term relationship. Franchisors want to be as certain as possible that you will be successful in their franchise system. They want you to strengthen the brand. They want you to be an active learner so you won't need 24/7 support on a long term basis. A franchisor becomes more successful when they only allow high quality franchisees into their system.

2. Have a financial plan

By now, you should have went over your finances in detail with the franchise development person. However, be ready to prove you are financially prepared with the right finances and an understanding regarding the P&L. It shows you are a serious business person. It doesn't mean that you will definitely buy this particular franchise; however, it does mean you can afford to buy this franchise and pay your bills until the business becomes self-sustaining.

3. Dress appropriately

Some candidates consider Discovery Day as a day off work and show up in jeans. If you were the franchisor, would that impress you? The best approach is to dress the way you would if you were already a franchisee in that business and you were going to meet your most important customer. That might be business casual, but it won't be jeans or flip flops. An even better way would be to ask the office administrator how the senior staff dress and then dress the same way.

4. Demonstrate your willingness to learn the system.

Don't try to impress the franchisor with your knowledge of the industry and your thoughts on how to improve the franchise system. Digressing from the system is one of the leading causes of franchise failure. The franchisor will want to hear that you are impressed with their proven system (which you must be, or you wouldn't be interested in buying it!) and that you are willing and able to follow the system.

If you can't express this sincerely, franchising isn't for you. Be sincere with yourself before you get this far in the franchise education process. There are people who cannot follow another person's system. They love making up the rules, taking risks, and are willing to accept the consequences - good or bad. This is fine! But if this describes you, get a hobby that fulfills this need, stay in your day job, or buy an independent business.

5. Be proactive, be prepared.

At a Discovery day you want to be impressed - but you also want to be impressive. Prepare as you would be for a big job interview. By now you've listed your skills and matched them to the skills needed in this franchise (for more information on how to do this, see Chapter 4 of the franchise book The Educated Franchisee). Talk about your past experiences as they relate to running your franchise. Past success is an excellent indicator of future success - franchisors want to hear about your achievements and your expectations for your new business. Ask good questions that show your interest. Be a good listener.

6. Make sure you fit the corporate culture.

If you don't like or trust the franchisor, don't join the system. In addition, if you are not at ease with the franchisees that you have interviewed, don't join the system. Sounds logic but it is important. It could mean that you are a bad fit for this corporate culture. Don't presume you can work around this or that it will get better. Your chances for success are best when you connect with both the franchisors management team and the franchisees.

Avoid these 6 mistakes and use Discovery Day to your advantage. With the correct attitude and some preparation you can make sure Discovery Day ends with you being in the driver's seat!

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

How to Prepare Yourself for the Franchise Ambush, Part II

Rick Bisio (FranChioce Consulting) — Mon, 09 Feb 2009 16:52:12 -0800

Listening to - and Weighing - Advice

by Rick Bisio - Franchise Consultant

& Author of the Franchise Book -The Educated Franchisee

You're in the market to buy a franchise, and you've discovered a concept that you like. You've read the website, went over the marketing materials and examined the Franchise Disclosure Document. In addition, you've talked to the franchisor a number of times. While your spouse may not be completely on board, you've kept him or her in the loop. It's looking pretty good so far.

Advice that Helps

If you are serious about becoming a franchise owner, the next step would be to seek advice from business professionals who possess practical experience in franchising, in the industry that you are looking at and better yet, in the franchise you are considering. The franchisees are a wonderful resource and in most franchise systems they are open and willing to help. An accountant that has experience in this industry and knows the norms regarding profit would be very helpful. A franchise consultant that has years of experience in franchising can provide you with a balanced point of view regarding the opportunity. Finally, a lawyer that specializes in franchising can be helpful in reviewing the structure of the relationship.

Advice that Disorients

Far too often, potential franchisees get so excited about the idea of being a business owner that before they fully realize the risks and rewards, they begin reciting their loosely formed dreams to anyone who will listen. They discuss their business idea with their drinking buddies and even with Great Aunt Edna. Now let's be honest, Great Aunt Edna loves you but she's been out of the working world for 25 years - she does not have an email address and still enjoys watching reruns of Bonanza. There is very little she can do to help you as you seek out more franchise information. There is a lot, however, that she can do to disorient you. Be careful.

How about your buddy who works for the U. S. Postal Service? His lifetime has been spent avoiding risk, maximizing salary, establishing his pension and surviving until retirement. There's nothing wrong with that, but is he able to provide you much guidance? Probably not.

A lot of people have your best interests in mind. But well-intentioned advice from people who simply don't understand business ownership, the industry you are looking at or have practical franchise information can be incredibly disorienting.

Advice that Matters

Spouses usually balance each other in temperament. If you are a go-getter, there's a high chance that your spouse is more conservative. S/he will remind you that the paycheck is nice, and will worry about what will happen if you fail. These are critical conversations to have. But you want to be prepared.

First, gather all the facts and be sure you have a clear idea of what it requires to be successful in the business. How long does it generally take to break even and what level of income would a successful business create. Learn everything you can and involve your spouse every step of the way. If you spouse has a concern, listen to the concern and get as much information on the topic as you can to share with your spouse. These decisions are normally made as a partnership. If you and your spouse decide not to move forward with a business opportunity that you love, won't you feel better knowing you've given him or her all the facts? At least then you know you gave it your best shot.

Here are a few of the most frequent objections you are likely to hear, as well as some facts to combat those perceptions.

1. Don't most small businesses fail?

Several long-term surveys have shown that, contrary to independent start-ups, franchises have a strong success rate. Owning a franchise (vs. starting an independent business) gives you a tremendous head start, including:

· A proven operating system that can predictably create success.

· National marketing programs

· Group buying power

· Training and on-going support

· Manuals, procedures, job descriptions, accounting help, and so much more.

To get more information on this subject go to the Download section of www.educatedfranchisee.com <http://www.educatedfranchisee.com>. There are a few reputable surveys that will give you all the franchise information you need in regard to success rates.

2. Why don't you just change jobs?

Any book you read on wealth creation will tell you that very few people become wealthy by working for other people. Wealth is generally created in three ways - the Stock Market (less than 10% of millionaires created their wealth by investing in the stock market), Real Estate Investment ( 10 - 20% of millionaires created their wealth by investing in real estate), and Business Ownership (70 - 80 % of millionaires created their wealth by building businesses).

Finding another job will not prompt you to the next level. If you are looking to create wealth and a better future for you and your family, business ownership is the best path. Chapter 5 of The Educated Franchisee can help you learn more about how business ownership leads to wealth creation.

3. Perhaps you should think about it some more.

You should not make a decision of this magnitude rushing but you do not want to postpone either. Do your homework, ask all the questions and take notes - then make a yes or no decision in a timely and businesslike fashion. One characteristic of successful business people is their ability to make good business decisions with incomplete information. If you find yourself paralyzed, be careful, business ownership may not be for you. Yes or no, the most important thing is your ability and willingness to make a decisive decision and move forward.

4. What if you fail?

You need to get into business ownership with the knowledge that you may fail. Of course you could also lose your job. There are no guarantees with anything that we do in life. Nobody can guarantee success. All you can do is stack the deck in your favor.

If you know that most franchisees in your chosen system are pleased with their success; that you have similar skill set to successful franchisees; that you are adequately capitalized; that you trust and can follow the franchisor's system; and that you are willing to work hard, you are on your way to being confident that you can succeed.

Before you start to share franchise information with your friends and family make certain you have the facts straight. Educate them. Help them join your team. And if they can't be on your team, maybe that's OK. Everyone likes to give advice, and naturally, everyone gives advice from their point of view - their reference base. As long as you know that, you can appreciate their concern, and not let it overly influence you.

This Article was written by Rick Bisio, a franchise consultant who is dedicated to franchise education. Rick's objective is to create educated franchise buyers that have clearly defined objectives and are able to recognize a great franchise opportunity. Visit the http://www.educatedfranchisee.com for a free monthly newsletter and more information.

How to Prepare Yourself for the Franchise Ambush, Part I

Rick Bisio (FranChioce Consulting) — Fri, 30 Jan 2009 05:00:29 -0800

Don't Shoot Yourself in the Foot!

by Rick Bisio - Franchise Consultant

& Author of the Franchise Book -The Educated Franchisee

You know you want to have your own business, and you've find out that franchises can represent the safest and fastest path to success. You begin looking into franchise opportunities and find yourself feeling like a kid in a candy store. There are so many franchises out there! Do you want to own a food franchise? Or maybe a franchise that helps seniors stay in their homes? Do you want to build things? Have a staff? Work from home?

Perhaps you already have an idea of what type of franchise you'd like. Or maybe you have no clue. Either way, you are at a critical point. Arriving at good decisions now can spare you a lot of time and heartache by ensuring you only investigate franchises that might be a good fit for you.

The Wrong Path

Let's look at the typical franchise candidate. She's excited about the idea of franchise ownership. Suddenly, she has an increased awareness of small businesses in her city. Everywhere she goes, she realizes that people are working for themselves. She envisions herself in different businesses. She considers what she loves in life, and what kind of business that might guide her to. Hey, she likes clothes and shoes and is constantly organizing them! She really understands the importance of a great closet and thinks that maybe a franchise that builds beautiful closets systems would be fun! She even saw an article that said custom closets are hot! And there isn't a single closet company in town! She decides she'll start her search by looking at closet franchises.

The Ambush

By starting the process this way she has made a grave mistake. Just because she likes clothes, shoes and organizing does not mean that she will be an qualified owner of a cabinet design, manufacturing and installation business. Only because there are no other businesses in the community providing this service, it does not imply that she is positioned for success. Her hobby/passion is for shoes, clothes and organizing. Does she really have a passion for woodworking, managing a staff, managing a marketing program or selling? The purchasing and cash flow aspects of this business are critical. Would she be effective in this area? Following your hobby and passion into business often leads to a loss of the hobby and a challenging business.

Avoiding the Ambush

The franchise investigation beginning place is never external - what does the community want - and it's seldom your hobby. Do not make the mistake of thinking you need to pursue your hobby/passion to be successful. As Rich Dad, Poor Dad states, "Passion is more about what you are being (business owner), than it is about what you are doing (laundry).

The most competent way to focus on the type of franchises that are good for you is to focus on your skills and abilities, as well as what you desire from a business.

Skills and Abilities

Let's imagine our hypothetical franchise prospect has spent the last 20 years managing casual dine restaurants. Over the years she has acquired solid skills when it relates hiring, firing and managing high-turnover employees, creating happy customers in a retail setting, inventory management, scheduling, purchasing perishables and planning. In order to position herself for maximum success she must look for franchises that utilize those skills. To learn more about how to do this read Chapter 4 of The Educated Franchisee.

What You Desire from a Business

There are various things she may also want. Perhaps she wants to have weekends and evenings off for the first time in her life or perhaps she wants a low investment. If this is the case, she may want to get out of the restaurant industry. Maybe she wants a business that will provide her with greater flexibility to spend time with family. Then she will need to consider businesses that have key employees she can trust to manage the business while she is away.

There are a lot of things a person might want from a business. Before looking at franchise businesses, you want to identify both your skills and your desires. Then you need to gather the franchise information required to ensure you find the best business for you. Remember, most people are happiest when they are successful. Prioritize your skills and lifestyle desires to give yourself the highest potential for success.

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Rick Bisio Visits Tallahassee, Florida to Speak to Entrepreneurs about Franchise Ownership – Business to Business vs Business to Consumer

Rick Bisio (FranChioce Consulting) — Fri, 30 Jan 2009 04:54:50 -0800

When asked to name the first five franchises that come to mind, most people will name business-to-consumer franchises

Tallahassee, FL - When entrepreneurs are considering franchise ownership, many think of business to consumer franchises such as restaurant or mailbox type franchises. When Rick Bisio was recently interviewed, he explained the difference between Business to Consumer (B2C) and Business to Business (B2B) Franchises. Rick said, "There is another whole world out there! Business to business franchises is among the fastest growing sectors, offering services to businesses instead of individual consumers."

When asked how a business services another business, rather than consumers, Rick explained, "They provide products and services from temporary personnel placement to commercial window cleaning. B2B franchises include sign companies, computer support, business coaching, printing, marketing services, logo apparel and much more."

The next question that came up was about the benefits of B2B franchises as opposed to B2C franchises. Rick was ready for this one as he explained, "B2B franchises often need less physical infrastructure than B2C franchises. They are generally scalable and many B2B owners appreciate that the business is generally open Monday through Friday, during traditional business hours. A B2B franchise could be less pricy to get into and may have lower operating expenses. Overhead is often lower and marketing is more targeted, which is also less expensive than marketing to the masses. Other ways B2B franchises save on overhead is the amount they pay for rent. One can rent office space rather than retail space which can be quite expensive. Many B2B franchises are even run from one's home"

This is all good, now for the question of disadvantages of B2B franchises; is there a downside? Rick said, "There can be disadvantages if you do not have a solid business background. You must be able to work effectively with business people who tend to be busy and to the point. B2B franchises tend to work with a smaller number of large customers, rather than a large number of individual consumers. Therefore, the loss of one customer can make a large dent in your top line. The competition tends to be sophisticated; therefore you need to be at the top of your game."

The interview concluded with Rick's closing remark, "If you possess strong business experience and are one of the scores of people wanting to take the next step in franchise ownership, don't overlook B2B! It could bring you enjoyment, monetary rewards, and some weekends off!

Rick Bisio is the owner of FranChoice Consulting and the author of the book, The Educated Franchisee. To learn more about how to be successful in franchise ownership, go to http://www.educatedfranchisee.com

Contact:

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com

What type of Franchise is Right for You? Franchising: Business to Business vs. Business to Consumer

Rick Bisio (FranChioce Consulting) — Tue, 06 Jan 2009 09:43:27 -0800

When I speak with people who are considering buying a franchise, I sometimes ask them to list the first five franchises that come to mind. Typically all five are business-to-consumer (B2C) franchises such as restaurant or mailbox type franchises.

The purpose of this article is to let you know that there's another whole world out there! Business-to-business (B2B) franchises, which provide services to businesses, instead of to individual consumers, constitute one of the fastest growing sectors in franchising. Products and services range from temporary personnel placement to commercial window cleaning. They include sign companies, computer support, business coaching, printing, marketing services, logo apparel and on and on.

For many potential franchise owners a B2B franchise can be the perfect fit. Many people who leave the corporate world to buy their own franchise have spent years promoting their products and services to other companies or to other departments within their own company. They are comfortable and experienced in this type of environment. They enjoy professional business relationships. They are proficient at structuring solutions.

B2B franchises frequently need less physical infrastructure than B2C franchises. They are usually scalable and many B2B owners value that the business is usually open Monday through Friday, during traditional business hours.

A B2B franchise may be less expensive to get into than other types of franchises and may have lower operating expenses. In many cases, overhead is lower and marketing is more targeted, which is generally less expensive than marketing to the masses.

One item that can keep overhead down is the amount a B2B franchise pays for rent. While retail space can be pricey, most B2B franchises are located in office buildings, where space is less expensive. Some B2B franchises are even home based. For example, an IT company may actually be an association of high-level IT subcontractors, who travel from their own homes straight to the customer's site.

Some B2B franchises do require retail space. For example, a staffing firm that needs to be accessible to numerous potential employees might be located in a retail location; an auto parts store that supplies principally to auto repair businesses could also be open to the public.

As you can see, there are tangible advantages to owning a B2B franchise. But there can also be disadvantages. If you do not have a strong business background you may have trouble working effectively with business people, who tend to be busy and to-the-point. B2B franchises tend to work with a smaller number of large customers, rather than many individual customers. The loss of one client could cause a large dent in your top line. And because competition in the B2B arena tends to be proficient, you have to be at the top of your game.

But if you have strong business experience and are one the scores of people looking to take the next step in franchise ownership, don't omit B2B! It may bring you enjoyment, monetary rewards, and some weekends off!

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Franchise Consultant and Mentor, Rick Bisio, Speaks to Students in Fort Lauderdale, FL about Understanding Franchise Agreements

Rick Bisio (FranChioce Consulting) — Sun, 30 Nov 2008 15:36:22 -0800

The FDD - Franchise Disclosure Document and Franchise Agreement isn't so scary; in fact, it is typically a standardized document brimming with franchise information

Ft. Lauderdale, FL -- Young entrepreneurs who are looking to enter the world of franchising have learned a lot of valuable information by working with Rick Bisio, a highly respected franchise consultant and mentor for franchisees in training. Rick teaches his students all about researching franchises and choosing one that is right for them.

Rick has discovered that many students are intimidated at the thought of reading and understanding the franchise contract. In one of his recent mentoring sessions, Rick explained, "Though the contract may seem to be very heavy on legal terms it is not so difficult to understand once you know what you are looking for in the agreement. The franchisor is required to share franchise information in a clear and transparent fashion; in turn, the franchisee clearly knows their rights and will be expected to meet the same standards"

Rick went over all the items included in the FDD, including details about initial investment and franchise fees; property requirements, location, building, equipment and supplies; a definition of operating practices to protect the franchise system, training and support offered by the franchisor, advertising cost and responsibility, royalties, bookkeeping requirements, and more. Rick said, "I hope that all of you pay very special attention to this part of the franchise agreement; a lot of this section is negotiable. I recommend that everyone read Chapter 7 of The Educated Franchisee Book to learn more about franchise agreements."

Rick concluded by reminding the students that studying the franchise contract is an important part of their franchise education. "Check each section carefully and make sure you understand each item and how it impacts you. A sound franchisor will spend the necessary time with you to be sure you are comfortable with these documents. Fear is normal at this stage of the transaction; let it push you to seek the information you need to make the right decision for you."

As one of the most respected franchise consultants in the United States, Rick Bisio has guided thousands of people to great decisions regarding business ownership and franchising. Rick has owned both franchised and non-franchised businesses. He has bought, sold and invested in businesses and worked as an advisor to others seeking the same. Rick is the author of the book, The Educated Franchisee; and he has a newsletter which you can subscribe to at http://www.educatedfranchisee.com

Contact:

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com

Your Franchise Agreement is Part of Your Franchise Education according to Franchise Consultant, Servicing Fort Lauderdale, Fl

Rick Bisio (FranChioce Consulting) — Sun, 30 Nov 2008 13:20:05 -0800

Up until now, it's been kind of fun, hasn't it? This whole ‘franchise education' process? You've told your friends that you're thinking of being your own boss, you've found a franchise that appears to match your goals and desires, you've talked to existing franchisees...and now it's time to read the Franchise Disclosure Document (FDD) and Franchise Agreement.

Ugh. It looks and feels heavy and legal. No fun. Scary even. Rest assured that fear at this point is normal and healthy. What you don't know is that the franchise disclosure document you hold in your hands is a lot friendlier than it looks. It constitutes a standardized document, full with franchise information. You've likely heard that it's written to protect the franchisor; you should also know that it protects the franchisee by leveling the playing field. The franchisor is required to share franchise information in a clear, transparent way. In turn, all prospective franchisees clearly know their rights and will be expected to meet the same standards.

So put yourself in a positive frame of mind and dive in. Give it your full attention now rather than making assumptions that may turn out to be erroneous. You don't want to count on using equipment you already possess, or adding your wife's special carrot cake to the menu, only to learn that's not part of the business model. Franchise systems work best when there are clear systems, standards and expectations. The value of your franchise is raised and the brand is strengthened when all franchisees provide systematically superior products and services.

The FDD covers every facet of the business, including:

1. What is covered in your franchise fee and initial investment

2. Physical property requirements, such as the location, building, equipment and supplies

3. A definition of the operating practices which protect the entire franchise system

4. Initial and on-going training and assistance provided by the franchisor

5. Whether advertising will be local or national and if the cost will be shared

6. How royalties are calculated and paid

7. Bookkeeping, accounting and reporting requirements

8. The parameters of your protected territory

9. More, much more

Pay special attention to the territory. This is one area of the Franchise Agreement that may be negotiable. For more information on all the sections in the FDD and what to look for in each section, read Chapter 7 of The Educated Franchisee.

Studying the FDD and the Franchise Agreement is a critical part of your franchise education! Go over each section carefully and be sure you understand how each item will affect you. A good franchisor will spend whatever time required to assist you become at ease with these documents. In the end, you may determine you can't accept the terms. Better to find out that now! And remember - at this stage of the franchise investigation fear is typical. Let it drive you to search the information you need to make the appropriate decision for you.

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Franchise Consultant in Hialeah, Florida Explains: “Buying” a Franchise vs. Being “Awarded” a Franchise

Rick Bisio (FranChioce Consulting) — Fri, 21 Nov 2008 18:15:18 -0800

by Rick Bisio - Franchise Consultant

& Author of the Franchise Book -The Educated Franchisee

Are franchises "bought", "sold" or "awarded"? Is the franchisor's representative in the "franchise development" department or "franchise sales" department? This may seem like semantics but it is at the core of what a thriving franchise relationship is all about.

If you "buy" a franchise it would imply that you have control over the process, much the same as if you were buying broccoli at the grocery store. You simply evaluate the diverse franchises that are available then walk up to the cash register and "buy" the franchise.

If a franchisor "sells" you a franchise it could bring to mind dealings you might have had at a used car lot. You would face a heavy handed sales person whose aim is to ‘close' the deal aware, of course, that they will never see you over again.

The good news is that you should have neither experience in today's franchising world. Today, high quality franchisors focus on "awarding" franchises to the best candidate. The franchise development person's job is to come up with a partner for the franchisor - someone who presents potential to be successful in that particular franchise system.

The term "awarding" came into widespread use in the 1980s. It reflected franchisors' collective realization that it was in their best interest to work with quality franchisees who would represent assets to the brand.

This is a logical change from the early days of franchising. When franchising was young, many franchisors thought that if they provided a successful model and adequate training, anyone could succeed. While the model and training are decisive, the other key ingredient is the franchisee. An introvert in a business that requires extroverts, for instance, would tend to struggle, and that doesn't help anyone. Quality franchisors want happy and successful franchisees because they make the system flourish. Even a top-notch business model run by a brilliant franchisor could fail if it was populated with the wrong franchisees.

Today, you should never feel that you are being "sold" or that you have the simple option of "buying". As you gather franchise information and investigate franchises, you should have the experience that the franchise development person is investigating you, too. S/he will inquire about your skills, your priorities, your past experience, and may investigate weak areas so that you can work together to determine if they are issues. You might even be given a skills or personality inventory, which will compare your scores to those of successful franchisees already in the system. The franchise education process will be one of mutual discovery.

When you find the system that's right for you, and you reach the end of the discovery process, you should have the impression that you will be working with people you like and trust, and who share your drive to be successful.

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Franchise Information Consultant Speaks at a Franchise Training Workshop in Orlando, Florida

Rick Bisio (FranChioce Consulting) — Thu, 13 Nov 2008 08:08:25 -0800

There are many advantages to buying a proven business buy many people are surprised to learn buying a franchise does not guarantee success

Orlando, FL -- Rick Bisio, franchise consultant and noted author of the book, The Educated Franchisee, recently spoke at a workshop designed to provide franchise information to young entrepreneurs who were considering owning a franchise. Rick believes that even in today's economy, buying a franchise is a wise choice but one must be aware of the common misconception that franchise ownership guarantees success.

Rick received a huge round of applause from the attendees who were excited to hear him speak. He began, "Purchasing a franchise is safer than starting a new business from scratch. The whole point of a franchise is that you limit your risk by buying a system that is already proven; the tools for success are already in place and there is no need to spend years reinventing the wheel with product, pricing, marketing and so on."

Rick explained that just because franchising is safer, doesn't mean that it is completely safe. "There are no guarantees and risk is not the same for everyone," Rick said. "The location of your business and the time you invest, your management skills and changes in the marketplace will have an impact on your business."

Rick made a very important point that though franchising offers the opportunity to work for yourself, you are not working by yourself. "A sound franchisor will supply a proven business model that has worked for many franchisees. They will teach you how to be effective working within that model as they provide on-going training and support," Rick explained.

By the time the workshop was over, everyone was very clear that owning a franchise is a lot of work, and it can be very rewarding. Rick concluded, "Owning a franchise requires hard work and long hours, but, eventually, if your goal is to have the freedom to take long vacations, with good management, this can be a reality. If you choose a franchise wisely, you will earn money immediately, but you will be required to invest money to get started. There is the initial franchise fee, and possibly a lease, signs, inventory, marketing and other business related expenses. It can take several months to years to see a huge profit."

Contact:

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com

This Press Release was submitted by Right Now Marketing Group, LLC

Franchise Consultant in Orlando, Floridia Covers Franchise Information You Can Use: What Buying a Franchise Can (and Can’t) Do For You

Rick Bisio (FranChioce Consulting) — Thu, 13 Nov 2008 07:23:16 -0800

Gathering great franchise information and choosing a proven franchise concept is perhaps the best route to successful business ownership. There are many advantages to buying a proven business but many people are surprised to find out that buying a franchise does not ensure success. This is a fairly frequent misperception. This article studies some of the facts - and misperceptions.

Buying a Franchise is Safer than Starting a Business from Scratch.

Almost every potential franchisee I talk with has heard this. And it is factual. The whole point of a franchise is that you limit your risk by buying a system that is already established. The instruments for success already are in place and there's no need to spend years reinventing the wheel with product, pricing, marketing, and so on.

But don't make the mistake of thinking that "franchising is safer" means "franchising is safe." There are no guarantees. As we state in the franchise book - The Educated Franchisee - ‘Risk is not the same for everyone'. The location of your business, the time you have to devote, your management skills, and changes in the marketplace will affect your business.

Franchising gives you the opportunity to work for yourself, but not by yourself.

A good franchisor will provide a proven business model that has worked for many franchisees. They will teach you how to be competent working within that model. Additionally, a respectable franchisor will offer on-going training and support.

In many franchises, especially if territories don't overlap and franchisees don't compete with one another, your fellow franchisees will constitute another wonderful resource, assisting you get trained in your particular franchise.

So you will work for yourself, but not by yourself. But don't interpret this to mean that you call the shots and the franchisor is there to help you no matter what. The franchisor has rules and procedures that are designed to protect you and your fellow franchisees. And remember that the only business model the franchisor knows how to support you on is the model you purchased. If you depart from that model and things aren't working, the franchisor will tell you to get back to the model. It's advantageous for the system, and honestly, you can't ask the franchisor to know how to assist you be prosperous in an altered model. One of the most crucial parts of your franchise education is to understand this: You must know how to lead while following. Lead your employees and your business but follow the system. Anything other than this will defeat the purpose of buying a franchise.

Owning your own business means making money while working the hours that are best for you.

How many times have I heard "flexible hours" cited as someone's reason for wanting to buy a franchise. That's fine - as long as you realize that's a long-term goal for most franchises (or any other business, or a new job, for that matter). Having a business involves hard work. The long vacations and extra time with family may come in time, but new franchisees should expect to put in a lot of overtime, at least for a few years.

And not only will you not make money right away, you'll need to invest money. You will need to pay an initial franchise fee, and, contingent on the business, you may have to sign a lease, pay for signs, inventory, marketing, salaries, and royalties, all before you're making any money. It may require several months to several years for a franchise to begin making a profit.

Before you invest in a franchise, look hard at yourself. If you have some tolerance for risk; are willing to follow a system and work hard; and have sufficient capital to carry you until you make a profit, franchising may be the vehicle that assists you reach your goals. Just be smart and realize that, unfortunately, there is no magic bullet.

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is -

To get more franchise information about how to stack the deck in your favor -

Visit our website at www.educatedfranchisee.com or

Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or

Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

Rick Bisio, Franchise Consultant in St. Petersburg, Florida, Discusses Analyzing Franchise Growth When Selecting a Franchise

Rick Bisio (FranChioce Consulting) — Wed, 12 Nov 2008 20:16:35 -0800

There are a lot of key factors to weigh when choosing a franchise opportunity; Not only must it be a perfect fit for you, it must be one that will be around for a long time

St. Petersburg, Fl - Rick Bisio, a franchise consultant and noted author, recently spoke at a workshop for people considering owning their own business. Rick discussed how to choose a franchise opportunity based on its rate of franchise development. Rick said, "The rate of growth is an important issue. A franchise that grows too fast may seem like a good thing at first, but it s possible for a system to develop too fast, making it very difficult to ensure that a system is in place for training and on-going support. On the other hand, one with a slow growth rate may suggest problems with the business model, making it difficult for the franchisees to succeed. The lack of new franchisees may be a sign of an unhealthy franchise system."

Rick discussed how to gauge steady franchise growth by determining the pace at which the franchise grew each year, both in absolute and percent terms. Rick said, "To find this data for the past three years, you can look in the Franchise Disclosure Document under Item 20, the List of Outlets. All the data you need regarding franchise growth will be there in a clear and easy to understand format."

Rick provided informative handouts showing the rule of thumb for medium-sized franchisors, stating the number of franchisees added each year should be between 10% and 35% of the total number of franchisees. Rick explained, "This method doesn't work for very large or very small companies, so one must consider the ratio of operational support personnel compared to new franchisees. A ratio of one support person for every 10 to 20 new franchisees tells you that new franchisees are likely getting the preparation and support necessary to succeed."

Rick concluded by saying, "Meet the support staff and talk to existing franchisees. You can glean a lot of valuable information by asking the right questions and listening to what they have to say about how they feel about support and training they received when they entered into the franchise business. Visit their headquarters and spend some time with the support staff to be sure you are comfortable with their experience, competence, style and ability to communicate since you will need to be able to work with them and trust their advice on an on-going basis.

Rick Bisio of FranChoice Consulting is the author of the book, The Educated Franchisee. His book teaches people how to recognize a good franchise opportunity and how to research the franchise to be sure it is right for them. Rick's book covers everything you need to know about buying a franchise and owning and operating a franchise. For more information on franchising skills and requirements and starting and building your franchise business, visit http://www.educatedfranchisee.com

Contact:

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com
http://www.educatedfranchisee.com

This Press Release was submitted by Right Now Marketing Group, LLC

Franchise Growth is Key when Selecting a Franchise According to Franchise Consultant, St. Petersburg, FL

Rick Bisio (FranChioce Consulting) — Wed, 12 Nov 2008 20:14:34 -0800

There are many elements to analyze when selecting the right franchise opportunity. Not only do you need the franchise to be a good fit for you - you are also required to work with a franchisor that will be around for a long time.

How can you learn if a franchise system is sound? In the franchise book, The Educated Franchisee we believe in sharing knowledge. A little franchise education can be helpful in this area.

One important measure is the system's pace of franchise growth.

Too Fast: Rapid franchise growth may seem like a good thing at first but it is possible for a system to grow too fast. It is important to make sure the franchisor has the people and systems in place to thoroughly address your training and on-going support. For example, if a system of 50 franchisees adds 30 additional franchisees in a year, the pace of franchise growth may be too speedy.

Too Slow: If franchise growth is stagnant there could also be a problem. Why isn't the franchise attracting new people? Perhaps there are problems with the business model - problems that make it difficult for existing franchisees to succeed. When potential franchisees make ‘validation calls' they may hear about problems and decide to look elsewhere for a business. Or maybe the franchisor doesn't have the right staff and has to limit franchise development. Either way, a deficiency of new franchisees could be a sign of an unsound franchise organization.

Just Right: Steady franchise growth over time is an indicator of good management and a healthy system. One way to gauge steady franchise growth is to determine the rate at which the franchise grew each year both in absolute and percent terms. To get this data for the past three years you can look in the Franchise Disclosure Document below Item 20 - the List of Outlets. All the information you want concerning franchise growth will be there for you in a clear, facile to understand format.

Rule of Thumb for Most Franchises

As a rule of thumb for medium-sized franchisors, the number of franchisees added each year should be between 10% and 35% of the total number of franchisees. For instance, a company with 100 franchisees ought to own the infrastructure to bring up to 35 new franchisees in the next year.

Rule of Thumb for Large and Small Franchises

This formula doesn't work for very large or very small companies, however, so when looking at behemoth or boutique franchise systems consider the ratio of operational support personnel compared to new franchisees. A ratio of one support person for every 10-20 new franchisees assures you that new franchisees are likely getting the training and back up they need to succeed.

Talk to Franchisees

But don't assume! It is critical that you talk to existing franchisees. Find out about the training they received initially and what they receive in terms of on-going support. Do they find the staff to be knowledgeable? Responsive? Does the franchisee feel comfortable calling on them for help? Give careful attention to the information you find out from new franchisees. Your experience will most closely reflect theirs.

Meet the Support Staff

Typically, a serious franchise investigation ends with a visit to the franchisor's headquarters to get final questions answered and meet the staff face-to-face. Spend extra time with the support staff. Make sure you are comfortable with their experience, skill set, style, and ability to communicate, since you will want to work easily with them and rely on their advice on an on-going basis.

There are many things to think about when researching a franchise business that will meet your needs, but it doesn't matter how much you like the business if the franchisor isn't viable. Collect the franchise information you need and be convinced the system you select is growing and has a large number of fulfilled franchisees. Franchise development is a fundamental part of your due diligence. Only a sound franchise opportunity can sustain your long-term growth and success.

This Article was written by Rick Bisio, a franchise consultant who is dedicated to franchise education through the sharing of franchise information. Rick's objective is to create educated franchise buyers that have clearly defined objectives and are able to recognize the right or wrong franchise when they see it. An educated franchise buyer will move into the franchisee role with their expectations properly set and will have a heightened potential for success within the franchise system creating a win/win for all involved. For a free monthly newsletter and more information on stacking the deck in your favor, visit http://www.educatedfranchisee.com

Tips From Franchise Consultant, Tampa, Florida: Considering a Franchise Business? Consider your Personality

Rick Bisio (FranChioce Consulting) — Thu, 23 Oct 2008 11:29:31 -0700

efore you begin to investigate a franchise business you need to think hard about whether or not being a business owner is right for you.

When you think about owning your own business do you think about the freedom of not having a boss? Do you think a franchise business will ensure your success? Do you see entrepreneurship as a route to a flexible schedule, with no one looking over your shoulder, while you bask in the pride of ownership, and enjoy all that money...

If these are the thoughts you have about owning a small business franchise, do yourself a favor. Stay employed!

Successful franchise business owners usually think more along these lines: where there's a will, there's a way; success requires courage, commitment and sacrifice; and a problem is just an opportunity in disguise. They know that the stars don't align themselves and have never been perfectly aligned for anyone. They are willing to take on risk, and then work like mad to minimize that risk. They trust themselves to do what it takes to drive success.

Successful franchise business owners believe in what they are doing. They appreciate their employees, knowing that well-managed and happy employees, over time, will allow them to step away from the business to some degree, perhaps then achieving the goals of financial security and personal flexibility. And while they know that franchise businesses offer excellent odds for success, they also know the owner's drive and passion makes all the difference.

If the latter description - that of the successful franchise business owner - resonates with you, perhaps you are ready to make the transition into entrepreneurship. If so, buying a small business franchisee is a tremendous direction to pursue. The franchisor provides the business model, the training, the brand, and the operating system. You provide capital, a lot of hard work, courage, and your passion. If that sounds like the way life should be lived, then find the franchise business that meets your needs, take the risk, work like mad to overcome the obstacles, and see your way clear to success!

This article was written by Rick Bisio, author of the book, The Educated Franchisee. Rick is dedicated to franchising through the sharing of knowledge. His objective is to create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it. Ideally an educated franchisee will move into the franchisee role with their expectations properly set and, as a result, will have a heightened potential for success within the franchise system creating a win/win for all involved.

To learn more about how to identify great franchise businesses and stack the deck in your favor, visit Rick Bisio's website at www.educatedfranchisee.com or purchase his book - The Educated Franchisee. Contact Rick directly at rbisio@educatedfranchisee.com or call 941 778 4660. Sign up for our FREE monthly newsletter at - http://educatedfranchisee.com/signup.aspx

Franchise Opportinity: A Bad Economy May be the Best Time to Buy a Franchise Says Expert in Miami, Florida

Rick Bisio (FranChioce Consulting) — Fri, 17 Oct 2008 09:40:43 -0700

When the economy falters, many people tend to stop moving forward. But if you have an entrepreneurial spirit, now could be the very best time to take action. History has shown that strong performers tend to take advantage of downturns in the economy, and buying a franchise is one of the top ways to come out a winner.

Why buy a franchise? Proven franchise opportunities offer formulas for success. When you join a proven franchise opportunity you are handed:

•· a tested, proven business model

•· up-front training

•· tools for success, from computer programs to equipment recommendations to sales materials, employee manuals, job descriptions, etc.

•· extensive on-going support

•· and a rapid start-up.

These are just a few of the factors that make franchise ownership much easier than trying to start a business from scratch. Bankers know this, so even in a weak economy they are more willing to offer loans for franchise purchases. If you have decent credit you can get excellent interest rates, which means more money in your pocket.

And if you're looking at a franchise opportunity that requires offices or manufacturing space, now's the time to act! Property values are down, meaning you can lease or buy space at lower rates than anyone has seen in years.

Need employees? As fat companies tighten their belts, many talented people have found themselves looking for a new position. You'll find more highly qualified workers to choose from in a weak economy than in a strong one.

If you're one of the talented people who lost a job recently, this might be the ideal time to buy a business and put yourself in the driver's seat. Or you might be someone who is finding that Corporate America just isn't meeting your needs. Either way, a world of franchise opportunities awaits, and no matter what your lifestyle and income objectives are, there will be franchises for sale that match what you are looking for.

Don't let the economy paralyze you. There are many opportunities out there for business ownership, and right now there are just as many opportunities for real savings. This could be the best time to buy a franchise and join the world of business ownership!

Franchise Opportunity in Economic Chaos in Jacksonville, FL

Rick Bisio (FranChioce Consulting) — Fri, 17 Oct 2008 09:21:53 -0700

By Rick Bisio

Author of The Educated Franchisee

Wow, what an interesting, and sometimes alarming, month it has been. So far we've seen Countrywide, Lehman Brothers, Bear Stearns and AIG struggle, just to mention a few. So what have we learned?

First we have learned about the risk of being overly bullish in an up economy. Many people thought they could not lose. Everything was going up at a feverish pace and every bet seemed to work out well. Life was easy - too easy - and we should have known better. But these are the obvious lessons, the lessons we read about in the newspaper every day. What else can we learn?

The other lesson revolves around the fact that Bank of America bought Countrywide and Merrill Lynch on the cheap. JP Morgan picked up Bear Stearns for a song. And a number of other companies are hunting for deals.

In today's market there is uncertainty and reduced consumer spending, but there is also unprecedented opportunity. The collapse of the housing market means that rents are low, employees plentiful and wages competitive. The cost of money is low also. My HELOC is 4.25%. That means I can borrow $100,000 for $375/mo. Cheap money, lots of low cost, high quality labor and low rent - all can be good news for a sharp, attentive business person.

As my father loves to say - "Things are never is good as they look - nor are they as bad." Half full or have empty? It's your choice of perspectives. Just keep in mind that amid all the chaos, there is likely to be opportunity.

The Educated Franchisee is dedicated to franchising through the sharing of knowledge. Our objective is -

‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it. Ideally an educated franchisee will move into the franchisee role with their expectations properly set and, as a result, will have a heightened potential for success within the franchise system creating a win/win for all involved.

To learn more about how to identify great franchise businesses and stack the deck in your favor, visit our website at www.educatedfranchisee.com or purchase our book - The Educated Franchisee. Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.

"Franchise Education" "Buying a Franchise" "Owning a Franchise" "Examining Franchises"

Rick Bisio (FranChioce Consulting) — Fri, 05 Sep 2008 08:20:39 -0700

The Educated Franchisee, by Rick Bisio, is a complete guide to entering, owning and operating a franchise.

•1) Preparing Yourself for Business Ownership: The first five chapters of this book are focused on helping the reader decide if business ownership is truly something that makes sense as a career and life choice.

•2) Getting it Right the First Time - How to Examine a Franchise: The second section of the book is focused on educating the reader on how to dissect a franchise system. Some franchise systems are great but others should are not very attractive investments. This how-to manual coaches the reader through the steps that assure a thorough exploration of franchise business ownership and thoughtful decision making.

•3) You've Found the Right Business - Now the Journey Begins: This section provides the new entrepreneur with valuable perspective on the mental mind set for success in franchising. By following the few steps in this section, you will position yourself for a fulfilling voyage as an entrepreneur and franchisee.

Order your copy at http://www.educatedfranchisee.com

Franchise, buying a Franchise, franchise opportunities, franchise for sale, business opportunity, own a business, buy a business, own a franchise, home based franchises, franchising skills, franchise requirements, franchise investment, business franchises, franchise business, running a franchise, franchise operations, franchise ownership, franchise consultant, Franchise Funding, Franchise Loan Consultant, Franchise Loan Consultants, Franchise Financing, Franchise Consulting Organization, Franchise Resources, Franchising your Business, franchise training,, (AL), Alaska (AK), Arizona (AZ), Arkansas (AR), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Indiana (IN), Iowa (IA), Kansas (KS), Kentucky (KY), Louisiana (LA), Maine (ME), Maryland (MD), Massachusetts (MA), Michigan(MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV), New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Tennessee (TN), Texas (TX), Utah (UT), Vermont (VT), Virginia (VA) , Washington (WA), West Virginia (WV), Wisconsin (WI), Wyoming (WY) Major Metro Areas: Albuquerque, Atlanta, Austin, Baltimore, Boston, Charlotte, Chicago, Chico, Cincinnati, Cleveland, Columbus, Dallas, Fort Worth, Denver, Bolder, Detroit, Ft Lauderdale, Palm Beach, Hartford, Houston, Indianapolis, Jacksonville, Kansas City, Las Vegas, Little Rock, Long Island, Los Angeles, Memphis, Miami, Milwaukee, Minneapolis, St Paul, Monterey, Nashville, New Haven, New York, Oakland, East Bay, Oklahoma City, Orange County, Orlando, Philadelphia, Phoenix, Pittsburgh, Portland, Puerto Rico, Raleigh-Durham, Reno, Tahoe, Rochester, Sacramento, Salt Lake City, San Francisco, San Jose, Silicon Valley, Santa Fe, Seattle, Spokane, Springfield, St. Louis, Tampa, Toronto, Tucson, Washington DC

"Franchise Consultant" About: "Low Cost Franchises" and "Home Based Franchises"

Rick Bisio (FranChioce Consulting) — Mon, 01 Sep 2008 11:26:19 -0700

The great news for those who are considering franchising is that the franchising world offers tremendous variety in terms low cost franchises and home based franchises.

When people think about franchising, they normally think about quick service restaurants, hotels and other store front franchises. Although these can be good business opportunities, they are also some of the more expensive franchises. At the other end of the spectrum, you can find quite a few low cost franchises and home based franchises with investments of less than $100K.

One of the great advantages of low-cost franchises and home based franchises is that they require minimal fixed expenses. Home based franchises obviously have no rent and very little overhead often leading to a faster break even. In addition, low cost franchises and home based franchises often have strong growth potential over time and can provide a significant return on investment for those with the right skills and the willingness to work hard.

But, as you might imagine, low cost franchise and home based franchises are not risk free. In some ways, they are riskier than higher cost franchises. These franchises tend to attract individuals that are focused only on cost ignoring the reality that low cost sometimes means low quality. The goal of course is to make sure that you purchase a high quality franchise - regardless of the investment.

If you are interested in home based franchises or low cost franchises, you need to read The Educated Franchisee. The research techniques outlined in The Educated Franchisee will help you discern low cost franchises that offer a good system and support from cheap franchises that fall into the category of buyer beware. By asking the right questions and turning over the right stones, the potential franchisee can identify low-cost franchises and home-based franchises that offer both high quality and reasonable cost. Order your copy at http://www.educatedfranchisee.com

Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free