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, by John P. Hayes
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Product details
File Size: 493 KB
Print Length: 124 pages
Simultaneous Device Usage: Unlimited
Publication Date: November 12, 2013
Sold by: Amazon Digital Services LLC
Language: English
ASIN: B00EYT5BB6
Text-to-Speech:
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Amazon Best Sellers Rank:
#130,697 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
Writing this almost one year after the purchase, our franchise hit break on schedule so I am updating all the resources I used that helped make this possible.We were looking to take the plunge into franchising so I read this easy to read book from cover to cover. It was impartial and had great explanations and points, like everyone really needs to heed the section on "is franchising for you". I felt a lot more confident in our decision and did not use a franchise consultant. I was now really comfortable with the franchise concept for us and the company we selected because it was as if they read the same book and made sure their offering was gotcha free. If you are considering a franchise, often requiring a big loan or investing life savings, you owe it to yourself to read as much as you can and this is a great one to begin with.(One piece of advice I will give, if you think you are going to start a franchise, sit back and let the checks roll in, skip buying this book and the franchise. It's a lot of work, 60+ hours / week initially and likely you will be doing some of the grunt work. But if you want it to succeed, you have to be hands-on and committed. If you can do that, read the entire book, pick smart, spend frugally, work hard and best of luck!)
Starting a business is not for the faint of heart. It's an activity that involves time, dedication, and an investment of capital. Despite the best intentions and hard work, many small businesses unfortunately fail. As Dr. Hayes, a revered industry expert, explains, franchising is a business model that provides entrepreneurs with an operating framework and tools for success that help them avoid some of the pitfalls that new business owners face. However, franchising is not for everyone, and all franchises are not created equal. In this in-depth, practical guide, Hayes arms potential franchisees with important questions that can aid them in making critical assessments about franchising in general, how well they would perform in a franchising environment, how aligned their personality traits are to the operations of particular types of franchises, and many other analyses. Whether you are seeking information about financing your potential franchise or trying to understand how to read a Franchise Disclosure Document (FDD), this book provides excellent explanations and best practice tips. A multitude of links to additional, free resources are also provided, in addition to a multi-page checkpoint tool. Most importantly, Hayes stresses that you as a business owner are ultimately responsible for your own success or failure, so it is crucial that you do your due diligence to ensure you are investing your time and money into a business that is right for you and in which you have developed confidence. As a potential franchisee, this book is a must-read that will reinforce your commitment to purchasing a franchise business or provide the tools necessary to recognize that it is not for you. I can say that reading this book has bolstered my decision to purchase a franchise in the near future, and it will be a key reference as I move forward.
John's book a hundred and one questions is a real confidence builder when pursuing a franchise concept. I highly recommend this book to someone that would be concerned they wouldn't have enough due diligence to be confident to make a substantial investment in time and money to opening a new business. Avoiding failure means spending enough time with the right questions which John gives you in this book to execute.
I was thinking about setting up my own business and buying a franchise, but I needed to clear out some doubts. I found this book to be the perfect tool to know what to ask and why when thinking of franchising. Now I feel more confident and I will make sure that I ask the right questions!
Dr. Hayes, author of 101 Questions to Ask Before You Invest in a Franchise, recommends that franchise prospects ask the franchisor, "How do you spend my franchise fee?" In other words, "What do you do with my money?" "Those are reasonable questions," continues Dr. Hayes, "and no good franchisor will shy away from answering the questions honestly."
I found this book to be extremely helpful in trying to establish the right criteria for evaluating franchises and determining what questions to ask of whom. The writing style makes it enjoyable and easy to read while being very informative.
Great for a business owner
I haven't finished this book --- but i certainly will. The insights are very good.
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