Presented by Thom Crimans President of FranNet of Mid America ©FRANNET T H EF R A N C H I S EC O N N E C T I O N Franchising: A Choice for you?

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Presentation transcript:

Presented by Thom Crimans President of FranNet of Mid America ©FRANNET T H EF R A N C H I S EC O N N E C T I O N Franchising: A Choice for you?

Who is FranNet? International Franchise Consulting Firm 70 Offices North America Worked with the SBA, SCORE and SBDC since 1987 Our services are FREE to the buyer PS: We are a franchise!

Indiana University – BS Business 20 years in Franchising Member International Franchise Association and Franchise Congress President, Frannet of Mid-America, a franchise Co-author “Franchising 101” Rotary International; Rotary Promise Mentor SCORE volunteer Society for Human Resource Management Thom Crimans

A Make vs. Buy Decision Start from Scratch, you develop your system by trial and error A proven franchise concept has already done that You are buying their expertise

Franchise Myths

Franchise Myth #1: “Only fast food and retail” FACT: Over 3,000 different franchise companies in more than 80 industries

Franchise Myth #2: “Franchises are expensive” Total InvestmentPercent Under $50k13% $50k to $100k18% $100k to 250k28% Over $250k+41% *Franchise Times Magazine Survey, “Franchising is All Right, Thank You.”

Veteran Incentives Many Franchise companies WANT veterans!

Franchise Myth #3: “High return requires a high investment” FACT: Fastest growing segment in franchising is service businesses which often require less capital investments

Franchise Myth #4: “Industry experience is required” FACT: Only 25% of franchisees are in the same industry as they were employed.

What is a Franchise?

What is a franchise – legal definition? Franchisor who licenses the use of their brand and business systems in return for: Franchise fee Royalty Fee Must comply with FTC franchise rule Based on FTC definition

What is a franchise – Business Definition A strategy for gaining strategic advantage in a market Division of labor between franchisor and franchisee

Key to Success Separate function of owner from function of business Identify your goals – Business model Do effective research- Talk to Franchisors

To Learn More Attend one of our seminars or webinars on franchising Call your Frannet consultant

Franchise Research Process Talk with Franchisor Get the FDD CALL EXISTING FRANCHISEES!

Thom Crimans Phone: