Mark Siebert - The Franchisee Handbook: Everything You Need to Know About Buying a Franchise

The Franchisee Handbook is jam packed with great advice to help steer prospective franchisees into making a well-informed decision as to which opportunity might suit them best and, more importantly, helping them avoid opportunities that are not a good fit.

SETH BRINK, GYRO SHACK

Having worked with Mark on multiple franchise opportunities,

I know how important it is for franchisees to understand what they are getting into before they buy. This book provides prospective franchisees with a great roadmap to guide them through the process of making one of the biggest financial decisions they will ever make.

TOM RYAN, VICE PRESIDENT OF DEVELOPMENT, CD ONE PRICE CLEANERS

As both a franchisee and as a franchisor, I can attest to Marks philosophy that there is nothing more important than ensuring the franchisee and franchisor are a good fit for each other. The lessons in this book should be taken to heart by anyone seriously considering the purchase of a franchise.

RAY WILEY, PRESIDENT AND FOUNDER, HOT HEAD BURRITOS AND RAPID FIRED PIZZA

The Franchisee Handbook will take you step-by-step through the process of evaluating franchise opportunities from a more objective viewpoint so you can better evaluate how a particular franchise will work for you and your unique circumstances.

SCOTT LEHR, EXECUTIVE VICE PRESIDENT OF DEVELOPMENT, MARKETING, AND CONFERENCES FOR THE INTERNATIONAL FRANCHISE ASSOCIATION

The process of investing in a franchise can be difficult to navigateboth for the prospective franchisee and for the franchisor. Marks book is designed to help you better understand the complexities of this investment that could well alter the course of your life.

DAVE PAZGAN, CEO, 101 MOBILITY

The Franchisee Handbook provides those who are planning to franchise with a systemized approach to evaluating both themselves and the franchises they are considering. It is an invaluable tool for every would-be franchisee.

NICK FRIEDMAN, COFOUNDER AND PRESIDENT, COLLEGE H.U.N.K.S. HAULING JUNK

Marks book will show you how the best franchisors attempt to qualify their franchisees and will provide you with your own framework to evaluate the fit of various franchisors from your perspective. It is an invaluable tool for anyone thinking of buying a franchise.

SCOT CRAIN, VICE PRESIDENT OF FRANCHISEE RELATIONS, AUNTIE ANNES SOFT PRETZELS

As former franchisees, we can attest to the importance of knowing how to look before you leap. The Franchisee Handbook provides an invaluable framework for that analysisboth looking at the franchisor and looking at your own capabilities. It is a great first step toward understanding how franchising will work for you.

CYNTHIA AND STEVE CLARKIN, FORMER FRANCHISEES

With over 3,000 opportunities to choose from, the first-time franchisee may easily find the task of finding that perfect franchise daunting. The Franchisee Handbook provides a roadmap to narrowing the field to a manageable number and provides a framework for the kind of diligence and self-examination that will improve anyones chances of success.

ALLAN YOUNG, COFOUNDER OF SHELF GENIE

The Franchisee Handbook provides the prospective franchisee with the tools they need to examine the opportunities they are considering and a framework for understanding how they will fit within a particular franchise system. It is a must read for anyone considering a franchise investment.

PETER ROSS, COFOUNDER AND CEO OF SENIOR HELPERS

The Franchisee Handbook is an essential resource for the would-be franchisee. While I was happy with the franchise I purchased, if I had read this book in advance I might have gone a different direction that would have better suited me personally. I highly recommend this book for anyone who is seriously considering an investment in a franchise.

BARRY FALCON, FORMER FRANCHISEE AND COFOUNDER OF TWO SUCCESSFUL FRANCHISE COMPANIES

THE
FRANCHISEE
HANDBOOK

EVERYTHING YOU NEED TO KNOW

ABOUT BUYING A FRANCHISE

MARK SIEBERT

CEO OF IFRANCHISE GROUP

Entrepreneur Press

Entrepreneur Press, Publisher

Cover Design: Andrew Welyczko

Production and Composition: Eliot House Productions

2019 by Entrepreneur Media, Inc.

All rights reserved.

Reproduction or translation of any part of this work beyond that permitted by Section 107 or 108 of the 1976 United States Copyright Act without permission of the copyright owner is unlawful. Requests for permission or further information should be addressed Entrepreneur Media Inc. Attn: Legal Department, 18061 Fitch, Irvine, CA 92614.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional services. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.

Entrepreneur Press is a registered trademark of Entrepreneur Media, Inc.

ebook ISBN: 978-1-61308-399-4

CONTENTS

by Robert Cresanti, CFE, President & CEO International Franchise Association

FOREWORD

BY ROBERT CRESANTI, CFE, PRESIDENT & CEO INTERNATIONAL FRANCHISE ASSOCIATION

H ow do I know if owning a franchise is right for me? In my role as President and CEO of the International Franchise Association (IFA), I am asked that question all the time. And equally often I am asked, What is the best franchise to buy? How much does it cost to buy a franchise? and Is it better to buy a franchise or start my own business? The Franchisee Handbook will help you with these questions and many more you may not even realize you need to ask.

Franchising accounts for nearly 760,000 franchise establishments that support 8.1 million direct jobs, $757 billion of economic output for the U.S. economy and 3 percent of the Gross Domestic Product (GDP).

The International Franchise Association represents franchise companies in over 300 different business format categories. A number of IFAs franchisor members were introduced to our organization by Mark and Daves team at iFranchise Group. The iFranchise team has many years of hands-on experience running franchise organizations and meeting with countless people just like you who are thinking of buying their own franchise. That background guides iFranchise Groups and the franchise industrys hallmark principle that franchising is successful when franchisees are successful. Franchisee success is a consistent theme throughout The Franchisee Handbook.

Understanding the intricacies of the franchise sales process is at the heart of franchise development. Sometimes both franchisors and prospective franchisees alike need to hear the hard truth about having to turn away a candidate when it is clear the candidate will not be a good fit for the brand and will not be successful. This book will help you appreciate the risks of franchise ownership as well as its many rewards.

The Franchisee Handbook provides a knowledgeable overview of franchising and how it works, and it will help you decide if you are ready to be a franchise owner. It will help you assess the amount of capital you have available, your skills, and your passion for business ownership. Mark takes you through the questions you to need to ask yourself before you can even begin to look at specific franchise concepts and gives you key tools to assess specific concepts. The book will help you understand risk, the kinds of franchise opportunities that are available, and how to discern whether you should move forward.