Know Your Resources

Know Your Resources

There aren't a lot of resources for the new franchisor, and there isn't anything that details the process from start to finish from a franchisor perspective. There are resources that offer insight into different phases of the process. It's just a matter of finding them. Take the time to look through the resources listed here. See what kind of information is offered and make a note of it so when you need it you'll know where to look. If you find contradictions in the information – and you will – check with your attorney before proceeding. This is not a process you want to do wrong or over.

Franchise Organizations: There are organizations dedicated to promoting franchises. The largest of these is the International Franchise Association. They have a wealth of information on the website: www.franchise.org. Some of the information is free of charge and some requires enrollment and/or payment.

Franchise Advertising Portals: Franchise portals are in business to advertise franchise opportunities and they also provide articles and information to differentiate them from their competition. FranchiseGator, FranChoice and Franchise Direct all have resource centers on their websites.

Franchise Consultants: These are businesses offering their expert services to help you franchise. They are typically a coalition of professionals and you can contract them to customize your franchising plan. Fees and services vary widely, so comparison shop if you're going to use a consulting firm. FranCorp, iFranchise Group and The Entrepreneur's Source are all established franchise consultants.

Magazines: There are magazines dedicated to promoting franchises. Many of them offer how-to articles and have sections of their websites dedicated to the franchisor. Entrepreneur Magazine, Inc., and The Franchise Handbook are publications of interest.

Books: Most books that help the franchisee also have sections for franchisors. If they don't, you can read the books and reverse positions – if it's of importance to a franchisee, it's something you need to consider and offer.