Small Business - General & Miscellaneous, Management - Professional & Reference, Retail Industries, Business Franchises

Tips and Traps When Buying a Franchise

Name: Tips and Traps When Buying a Franchise
Author: Mary E. Tomzack
ISBN: 9780070651012

by Mary E. Tomzack

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Overview

Franchises are red-hot business opportunities - offering everyone from the corporate downsizing victim to the mid-life career changer to the recent college graduate the best path to becoming a successful business owner in today's troubled economy . . . Some franchises are mined with hidden costs, inflated revenue promises, poor marketing support, and worse . . . Learn how to tell the difference before you take the plunge! There's never been a better time to buy a franchise than now, provided you know what you're doing, says author and successful franchise owner Mary Tomzack. In this candid, hard-hitting book, Tomzack provides a crash course in selecting the right franchise and turning it into a lucrative, satisfying business. You'll learn all the insider secrets you need to succeed, including how to select the best franchise for your personal finances and lifestyle; what the 5 hottest franchise opportunities are for the '90s; the questions you should ask up-front, before buying any franchise - questions that will prevent unpleasant surprises down the road; how to avoid the six most common first-year pitfalls; special sources for financing if you are a woman, a minority member, or a veteran; how to navigate the legal maze, understand the fine print of a franchise agreement, and avoid last-minute "deal breakers"; what to do in your first months as a new franchisee - from buying equipment. . . to recruiting and training employees . . . to mounting local promotions; where the ground-floor opportunities are in multiunit franchising and international franchises; how to build a business empire with franchises; and much more! You'll also hear the war stories and success secrets of a wide cross section of franchisees from across the country. They will provide you with the hard-won tips, strategies, and advice that you can rely on to help make your new venture a successful one.

In a guide to franchising that gives novice buyers the insider savvy they need to succeed, Tomzack reveals how to find the right franchise, financing, and location, match a franchise with finances and lifestyle, avoid the five most common first-year pitfalls, buy equipment, and recruit and train employees. 15 illustrations.