So You Want to Franchise Your Business Review

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So You Want to Franchise Your Business ReviewLike the author, I am a franchise attorney with over 30 years experience exclusively in franchising, but that's where our similarity ends. I also have an MBA, have owned a successful franchise before, and am a testifying, international franchise expert, author and instructor, known in the industry as Mr. Franchise. Rather than delve into a review that could be as long as this book, let me just address a couple top level business issues that I found very troubling. In addition to the other gross inconsistency mentioned by another reviewer (back cover says "franchise a concept for less than $100k vs. page 10 says you need $100k to $150k - and this is just for starters), there are more serious problems:
(1)There is no actual budget for specific items; just general statements, like "you will need between $100k and $150k to .... hire a franchise attorney .... and an experienced franchise consulting firm..." How much is needed for various categories like the franchise attorney, the franchise consulting firm, advertising and marketing costs, etc. are not detailed, except for a one liner later in the book that it takes $10k to $20k to launch a website (and how this is broken down is anyone's guess).
(2)Nor is it a good idea to hire a franchise consulting firm to write the operations manual as the author recommends. This produces a very mediocre, boilerplate document that is not only expensive but also filled with legal risk. See the article about this on the Franchise Foundations website on the Operations Manual page, based on my experience as a testifying franchise expert and having personally written and edited hundreds of operations manuals. The author talks about the McDonalds Operations Manual as a lesson in excellence, but fails to mention the most important lesson: it was all done in-house by McDonalds (as it should be) and not by outside franchise consultants who charge $25k or more to write boilerplate manuals.
(3)Then, beyond the initial $100k to $150k to franchise the business is the incredible statement that this investment "will not typically show any return for up to three years." So, how much needs to be budgeted for this 3-year period, and for what types of expenses? Good question, but absolutely no answers or guidance here either. One thing is crystal clear - not having adequate working capital to pay all bills and reach a break even point that can be 3 years down the road will cause business failure. Not bothering to address this critical issue is incredulous.
Which all points to the weak link in having someone who is just an attorney (franchise or otherwise) call the shots and make recommendations for franchise consultants, etc. when it comes to franchising a business. They don't understand the business aspects (see above), financial aspects (see above) or operational aspects (they've never written an operations manual before, etc.). Companies end up spending exorbitant amounts following this path and either get nowhere or fail. As I've been often quoted as saying, "it's takes a lot more to succeed in franchising than a FDD from an attorney, a boilerplate operations manual, their invoice and a handshake.
So You Want to Franchise Your Business Overview
"This book is great. Definitively a best seller. It should be the number one consultation reference book for anyone related to the franchise business. Congratulations Harold!"Tomas, Chairman of The Taco Maker in San Juan, PR
Turn Your Business Into A Franchise

Harold Kestenbaum has worked with more than 100 businesses in their franchising efforts including such household names as Sbarro and Nathan's. A 30-year veteran of franchise law and a board member of four major franchise companies, he and Adina Genn, an award-winning journalist, have joined forces to teach you the secrets to turning your business into a successful franchise.
If you're interested in using this profitable strategy to expand your business, you'll get an in-depth look at how to evaluate your business concept, determine if your business is a candidate for franchising, implement the franchise process, and build a thriving franchise.
Well-known entrepreneurs who successfully franchised their business, including Subway co-founder Fred DeLuca and CEO of the Dwyer Group Dina Dwyer-Owens, offer detailed, in-the-trenches guidance and information. These experts speak frankly about the tactics you can use to market, sell, and build your franchise while offering insider advice to help you avoid the pitfalls of business growth.
Step-By-Step Guide To The Franchising Process
Low-Cost Ways To Grow A Franchise In The Startup Phase
Franchise A Concept For Less Than $100,000
Best Practices From Top Franchisors And Franchisees


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