Straightforward Guide to Buying a Franchise by Professor of Geography, University of Oxford -- Read -- Imperial Library of Trantor

Index

Cover Title Copyright Contents Introduction

The British Franchising Association (BFA)

Part 1. Franchising generally

Ch.1 What is franchising?

Franchising-a definition and history What is business franchising? Business Format Franchising Product and Trade Name Franchising A brief history The growth of franchising Franchising sectors Main points from Chapter 1

Ch.2 Considering the good and bad points-is franchising the right way to go for you?

Different aspects of franchising The pro’s and con’s of franchising PROS of franchising The use of a recognisable brand Ongoing support Lucrative locations Established market Easier access to finance CONS of franchising Considerable costs Lack of control External factors Discipline Franchisor Monitoring Service Charges Reputation Inflexibility Responding to the market The job itself Finally-considerable work Other risks associated with franchisor performance The established franchisor The new franchisor Unethical franchisors Incompetent franchisors Are you suited to running a franchise? Main points from Chapter 2

Ch.3 What type of franchise to choose?

Automotive and car repair franchises Care service providers Cleaning services Estate agencies Financial services Gift cards Internet franchises Parcel Couriering Plumbing Print shops Recruitment Retail Buying an existing franchise as opposed to a new franchise Advantages of an Existing Franchise Track Record Customer Base Flexibility Advantages of a New Franchise Clean Slate Lower Purchase Price Newer Equipment and Facilities Main points from Chapter 3

Ch.4 Searching for the right franchise and asking the 51 right questions.

Where can you find details of franchises for sale? Questions to ask franchisors Main points from Chapter 4

Ch.5 Financing a franchise and preparing a business 57 plan

Raising finance for a franchise Approaching banks for finance The person - Who are they lending the money to? The amount - How much are you looking to borrow? How do you intend to pay back the money? How much risk is involved? The calculation of interest and fees Forms of finance Total cost of opening a franchise Franchise deposits Franchise Fees-Initial franchise fees On-going franchise fees Advertising Fee Franchise Business Plan Preparing a business plan Introduction The Product or Service The Personnel The Market The Marketing Plan The Operation The Premises Financial Information Introduction Profit & Loss Forecast Cash Flow Forecast Appendix Verifying a franchisor’s projections Main points from Chapter 5

Ch.6 the legal agreement

The franchise agreement What is the Franchise Agreement? The Terms of the agreement What should I look for in a franchise agreement? The Intellectual Property Trade Marks and Service Marks The Rules Main points from Chapter 6

Ch.7 The franchisor’s operating manual and 79 franchisor’s training

About the company Support Launch timetable Training Recruiting staff Office Office maintenance Office Administration Reporting Vehicle administration Marketing Pricing Sales Insurance Corporate structure Financing Company Field operations Resale, transfer, renewal and closing Expansion and relocation Franchise support Franchise training Main points from Chapter 7

Ch.8 The ongoing management of your business

The initial phase of the business Finding premises Buying equipment Recruiting staff Employing People What are my responsibilities as an employer? Discrimination and the law Main points from Chapter 8

Ch.9 Financial control

Financial Control Profit and loss forecasting Cashflow forecast Preparing a Cashflow Forecast Other Terms Over-trading Check your customer’s ability to pay Set out your terms of trading Set up a system Keep clear and accurate records Collect your payment on time The advantages of a bookkeeping system How to record the information you need Proprietary systems. The Analysed Cash book System The Double Entry System Computerised Accounting Systems Main points from Chapter 9

Ch.10 Products, markets and pricing

Segmenting the market place Geographic segmentation Demographic segmentation Occupation and social class ACORN Product segmentation Benefit and lifestyle segmentation Competitive advantage Unique selling points (USP) Pricing Your Product Your Costs Competitors Prices Main points from Chapter 10

Ch.11 Marketing generally

Market Research Bringing people’s attention to your product Advertising Leaflets Directories Advertising in magazines Newspaper advertising Television advertising Radio advertising Using an advertising agent Direct mail Using sales representatives or agents Internet Marketing Search engine optimization Making your site visible to search engines Quality content The use of key words and phrases Search engine marketing Purchasing traffic Email marketing Affiliation (as advertiser) Using vouchers and coupons Co-registration Rich media Social media Blogging Market places Main points from Chapter 11

Ch.12 Growing your franchise-a few tips

Managing staff Networking Knowing yourself Managing time

Summary of the book Glossary of terms Useful addresses and websites Index