The Franchisers and the Franchisees. A special partnerhsip of trust. |
Meet the world's expert on franchising Washington, DC: Meet Don DeBolt, the past president of the International Franchise Association (IFA). The IFA is the world's oldest association representing the franchising community and represents franchisors, franchisees and suppliers; it is a unified voice to speak on behalf of franchising whenever there's a regulatory or a legislative issue. Don DeBolt says, "When you are a franchisee, you are in business for yourself, but not by yourself." First, the franchiser provides a peer group of franchisees to help each along the path. All of the obstacles that any small business faces are still going to be faced by the franchisee, but they're going to have a lot of support and help. When you acquire a franchise, you acquire a recognized trademark or brand name, a proved operating system that's perfected year after year. And, of course, the marketing and advertising support that makes that brand more recognized in the marketplace. But most important, continued training and support by the franchisor and the other franchisees in the system. Don Debolt says, "There are over 500,000 franchisees in this country today who figured out it was better to open up under a brand name that was recognized in the marketplace than Joe's Hamburger Stand." "There's a varying number, from 2,000 to 3,000 franchise concepts out there that you can select from. We know there are at least 2,000 very serious concepts that are major players in the franchise field today. So you have a lot of choice, and most importantly, 70--70 different industries." More... Video Tip of the Day Click here to watch in a pop-up window. Click here to watch if your pop-up blocker is on. Watch at least one clip each day. Every time you open the window a new clip will play. Each is randomly selected. |
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You can't do it all. So, work out the systems, then engage others. No entrepreneur waits for somebody else to do it. They just do it themselves. They take on the big challenges and are not afraid that others will think they are stupid, crazy, or simply a fool. It is so much easier to say, "That's impossible" or "That can't be done." The franchiser lets others in on the process. They perfect their systems to engage others to expand the business. If you can perfect your systems, consider franchising your business. Many franchisers, like those below, are able to take their business from $0 to over $1 Billion in less than a lifetime. Meet others who have done it on their own.
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