We don’t disagree that learning about franchising can be a challenge. In fact, it’s the premise that launched FranNet over thirty years ago. We understand that it can be a confusing landscape, with challenging information, opinions and advice to be found in every corner of the internet. While we pride ourselves on the navigating skill of our consultants, we still believe that an informed is a better client. Thus, in this edition of FranNet’s blog, we’re going to list a few (approved) places where you can go to learn about franchising’s basics.
As a FranNet client interested in franchising, we want you to be aware of the risks as well as the benefits. While we can work with clients possessing any range of knowledge, we would agree that it’s helpful that they know what an FDD stands for. Same goes for Item 19. Validation. And Discovery Day. These are industry terms that we toss around all the time. Doesn’t mean that all of our clients have the full definitions. If you’re beginning to take your first steps of an entrepreneurial journey, here’s what you should know about franchising’s resources on the web:
The IFA stands for the not-for-profit International Franchising Association. It’s the main governing body of our industry and will provide you with the background you need to know about franchising. FranNet, as a member of the IFA, believes that the information, events and policies advocated by the IFA are of the highest standards. Spend some time and reflection on this site and get a feel for exactly what the industry represents: https://www.franchise.org/
FranNet is also a big supporter of the non-profit U.S. Small Business Association (SBA). While the SBA also covers non-franchising business territory, it has a broad and well-defined section dedicated to the franchising industry. They’ve even distilled their information into a course-like structure, where you can view a 30-minute interactive exercise, with video and sound. Here’s how they describe the course:
The self-paced training exercise presents an overview of franchising, as well as how to determine if franchising is right for you, and how to choose the right one. Topics include defining franchising, pros and cons of owning a franchise, and how to determine if franchising is right for you. — SBA
If you’re looking for another independent opinion about the definitions and background on franchising, Entrepreneur.com is a very franchise-friendly resource on the web. While they do include hundreds of posts regarding the individual pros and cons of franchising, it’s best to start with their encyclopedia section on franchising.
These resources will help get you up to speed in no time when it comes to learning about franchising. What it is, how it works, and why it’s an advantageous route to business ownership. Once you’ve earned your research degree on the subject, it’s time for some post-graduate work with FranNet. Our representatives can take you to the next level and actually initiate real action on your behalf. A simple no-cost, no-obligation visit with a representative who both lives and works in your general area is how we begin to learn about you.
We want to really know what is a good fit for you. Through personal assessment tests and interviews, we’ll find out exactly how, why and where you’d like to become a franchise owner. We’ll share your results and make professional introductions on which of the thousands of franchise concepts make the most sense for you personally. Then we’ll be on to the next steps in the franchise investigative process. We’ll introduce you to the individual franchise operations, put you in touch with their leadership and other franchisees and allow you to make an informed decision about your own next steps.
At it’s core, the FranNet investigative process is an top-of-class experience. But we’re certain it’s one in which you’ll love to participate.
Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!