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.
A key part of franchising is networking. As franchisors provide forums for their franchises to network, the IFA provides a forum for everyone associated with franchising to learn from each other. They learn how to operate a business better.
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...
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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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Get insights and ideas from those who have walked over the hot coals:
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Meet Gary Salomon, the founder of FastSigns. This business was started over breakfast on the back of a paper napkin! Today, this franchise will generate billions in revenue.
» Put systems in place
» Buy out an unexploited idea
» Go to all the key ideas and videos
Key Question: How do I start a business?"
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Meet Anne Beiler of Auntie Anne's Pretzels.
She started in the Saturday Farmers' Market selling her pretzels. Then people began asking if they could resell them in other farmers' markets. Now with over 900+ franchisees, the rest is history!
» Create a franchise with systems
» Hire experts
» Go to all the key ideas and videos
Key Question: What is a path for growth?
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Homepage: Meet Tom Gegax of Minneapolis. With his partner, Don Gullet, they bought three gas stations, focused on the tires, re-branded as Tires Plus, and built it up to over 150 stores with 2,000+ employees generating $200M in annual sales, so 25-years later they sold to Bridgestone for "more than enough."
» Understand Investors and the Risks
» Hire COPS: Caring, Optimistic, Passionate, Systems
» All the Key Ideas and video from this episode
Key Question: Who is the best buyer?
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Not all become billion-dollar businesses.
Meet the founder of Del's Lemonade, Angelo DeLucia, of Rhode Island. This business is an icon. Hundreds of kids earn summer money working for Del's franchisees. Yet, this is one franchise that is still rather small.
» All the Key Ideas and video from this episode
Learn all eight possible ways to leave your lover!
Key Question: Who is the best buyer?
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