Running a Successful Franchise

The most commonly held misconception people have when buying a franchise is that the franchisor will hold their hand every step of the way. While this may be true for product information and purchasing, you're on your own when it comes to actually operating and managing the business within the constraints of the franchise agreement and supervising your employees.
Now, finally, there's a book that provides the down-to-earth, step-by-step guidance that every franchisee needs to make it through those critical early months and succeed and prosper in the years to come. Filled with detailed, practical advice for both current and prospective franchise owners and managers, Running a Successful Franchise explains in clear, easy-to-understand language: How to interpret the "fine print" of any franchise agreement in order to understand which management functions are to be controlled by you, and which by the franchisor. The critical differences between running a successful franchise and running a regular business. The secrets of "transitioning" smoothly from a corporate executive position to that of a franchisee/ entrepreneur. How to develop a business plan and choose the right business structure. How to set up and implement management and reporting procedures, create purchasing and inventory control policies, and develop sales and marketing programs. How to enhance and reinforce the "franchise image" in your customer and community relations. How to guard against the franchise industry's biggest problem, employee turnover, by developing a superior recruitment and hiring program. How to develop a defense-oriented personnel policy to reduce exposure to lawsuits and regulatory agency actions. How to analyze financial statements. How to create an accounting system that will meet the franchisor's requirements and provide you with the management information you need. How to apply participative management strategies to franchise operations. Plus a special chapter on the most common areas of conflict between franchisors and franchisees and how they can be quickly and amicably resolved.