Rick Grossmann - Franchise Bible: How to Buy a Franchise or Franchise Your Own Business

PRAISE FOR FRANCHISE BIBLE

Franchise Bible is the most comprehensive, step by step, go to guide for all things franchising. The best franchise book, bar none.

Nick-Anthony Zamucen, Founder of Bio-One Inc.

Franchise Bible is the roadmap that leads to franchising success. Now in its 8th edition, Franchise Bible has been the go-to franchising resource for decades. Rick Grossmann and Michael Katz have more than a half-century of franchise experience between them. The expertise that each brings to the industry is a huge win for anyone reading Franchise Bible. To your success!

Carolyn Miller, Founder of the National Franchise Institute

If you could earn a degree in Franchising, this would be the textbook. Whether you are considering franchising as your expansion option, or managing a mature franchise system, Franchise Bible is the most organized, well communicated franchise tool available. If you are serious about franchising, start here, and keep this book handy as you work through each stage of development; referencing each new section a second time as you progress. It will change the decisions you make and greatly reduce your upfront investment, while increasing your probability of success in the shortest amount of time.

Chris Burrei, President of Franchise Development of GMXR Inc.

The resources in Franchise Bible are extremely valuable to us as franchise owners. When combined with our proven franchise system and leadership we are armed with all of the best tools for success.

Gregg and Cheryl Chiasson, Instant Imprints South MetroFranchise Owners

Franchise Bible has saved our company valuable time and thousands of dollars! The strategies in this book are a must for anyone entering the franchise world.

Dr. Kent Lauson, Founder of NEO Orthodontics Franchising

Anyone considering buying a franchise or franchising their business should start with the Franchise Bible. This easy to use reference guide will highlight the legal, financial, and structural details to consider before taking that important first step. Already a franchisee or franchisor? Solidify your strategy with this guide. Rick Grossmann and Michael Katz generously share their expertise in such a relatable manner that everyone can find value in its content. This guide is a must for your business reference library.

Tricia Petteys, Executive VP Operations of Payroll Vault Franchise

Franchise Bible is the single, best source of information, whether youre considering buying a franchise or building a franchise organization. The depth of experience that Rick Grossmann and Michael Katz provide the reader is concise, organized, and thorough. Look no further than this comprehensive and easy to read guide.

Doug Root, CEO of JungleQuest, Inc. Franchising

The culture your organization needs to become a successful franchise starts at the top, and this book helps guide you down the right decision path to be creative within best practices Rick and Michael have established. In the Franchise Bible they stress originality; build and buy into something that is original and creates value. In our swim school business we created something that was never done before and could be duplicated; we also realized the need for every person to be able to swim. Franchise Bible helps me focus on our needs as a franchisor and reawakens me to the needs of the franchisee.

Michael Mann, President of SwimLabs

Having consulted on and developed multiple franchise units for over 10 years, we can honestly say the practical advice in the Franchise Bible provides a clear and comprehensive perspective of the multiple aspects of franchising that one needs to be a successful franchise owner. Wish we had this when we started!

Erik and Wendy Skaalerud, Colorado Area Developers and Franchise Owners of Orangetheory Fitness, Capital Lending Solutions Principals

Entrepreneur Press, Publisher

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ebook ISBN: 978-1-61308-355-0

Franchise Bible, Eighth Edition, is dedicated to our

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sacrifice for our national freedom and enable us to build

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Table of Contents

Contents

F or many aspiring entrepreneurs, finding a path to business ownership can be challenging. With so many great ideas, products, and services already in the market, it can be hard to think of a new niche to pursue. And if even if you do know what type of business youd like to start, there are numerous obstacles that prevent many people from ever actually taking the leap from entrepreneurial dream to business ownership reality.

For those who have taken that leap, and have created a successful business, finding a way to expand that business can prove equally daunting. If you try to go it alone, your growth will likely be restrained by limited finances, time, energy, and resources.

These may seem like two very different problems, but whichever one you find yourself relating to, the answer to both lies in a word: franchising. The beauty of franchising is that it offers two unique and useful paths to growing a business, whether you are just starting out or you want to expand an existing business. For the aspiring entrepreneur, becoming a franchisee allows you to buy into a company that already has a proven model for success. For the existing business owner, becoming a franchisor offers a systematic way to allow others to help grow your business and brand with reduced financial risk on your part.

We at Entrepreneur pride ourselves on our coverage of the franchise industry, including the first, best, and most comprehensive franchise ranking in the world, the Franchise 500. Over the 37-plus years weve published that ranking, weve seen how franchising has evolved and adapted to changes in the economy, business climate, and technology. Through it all, the industry continues to thrive. Franchising has made entrepreneurship possible for thousands of people who might not otherwise have ever started their own business, and helped others take their business from local success to nationally-known brand. Weve talked to these people. Weve listened to their success storiesas well as their strugglesand shared them often in the pages of our magazine and on our website. Weve heard over and over about the positive impact that franchising has had not only on their lives and livelihoods, but on communities and economies around the country and around the world.