This article study (ADP Monthly Employment Data Report) reveals that franchises are always consistent and are recession-proof. The evidence of 7,000 new jobs created by small businesses shows that increasingly franchise businesses are growing amidst fears of an economic recession. The New York Times notes “the modest gains in small business employment amid steep losses at midsize and larger firms is consistent and comparative resiliency small-size businesses have demonstrated over the past several years.” (Joel Prakken, Chairman of Macroeconomic Advisrers LLC).

This study is further enhanced by an earlier study published by the IFA in association with PricewatersCoopers published earlier this year, that franchise growth continues to be strong and is flourishing, creating new jobs in all industries across the board, than independently owned businesses and corporations.

So the good news? Do I have to tell you…! Okay I will! The good news is that franchising is on the up and you should boost your career prospects and invest in a successful franchise and business opportunity. Secure your career, before someone else does…

 Franchise Reporter

By Janet Engle

Have you ever wondered how to set up, operate and successfully make a profit from investing in a retail business or franchise opportunity? Well wonder no more!

In this book, Janet Engle like most franchise authors I have reviewed so far introduces the reader to a brief history of the retail industry, and then a chapter on assessing the skills and qualities that make a good franchise retail owner (Chapter 4) and this section serves as an prelim to the more interesting chapters which are added later.

These following chapters are an excellent and comprehensive study of the important aspects of setting up a retail franchise and should be bookmarked by you for further reading :

- setting up a retail franchise (Chapter 8 Buying a Retail Franchise);

- understanding the financial obligations associated with your new business (Chapter 10 Financing Your Business and Chapter 13 Accounting and Bookkeeping);

- marketing and advertising (Chapter 16 Marketing and Advertising);

- customers and suppliers (Chapters 17-19);

- employees and other labor costs (Chapter 20 Employee Relations and Labor Costs).

Not only are these chapters very useful in guiding you through the process of setting up a successful retail franchise business it also provides you with a practical CD-Rom which has some really good features, including how to write up an effective Business Plan (using Word template) and much more.

You should definitely invest in purchasing this book if you are seriously considering setting up your own retail franchise business…

BEST FRANCHISE BOOKS

If you are interested in purchasing a franchise or business related book - you should check out Best Franchise Books - a comprehensive website which provides a list of all relevant business related books.

This website is the only portal of its kind in the industry to provide a dedicated resource for franchise and business related books.

It is worth checking this website out…

Franchise Reporter

• You will find out a lot of important information about franchise and business opportunities in your area.
• You get to meet a franchisor face-to-face with no obligation to do anything other than ask any questions you wish to know more about a franchise.
• Also you can attend any seminars scheduled for the week of the expo, and be fully informed about the successful franchise industry. And lots more!

Every franchise or business exhibition that is held throughout the year is a fantastic way to find out more about a franchise investment in your area. If you live in Puerto Rico and you would like to invest in a business opportunity, then you really should consider attending the exhibition from July 7 onwards.

You can attend the franchise seminars for free and also find out a wealth of business information you might not have known about the affluent Puerto Rico region. For existing franchisees it is also an exciting opportunity to find out more about expanding your business within Latin America, and what other perfect way to do this, than through attending the Las Americas Franchise expo. 

Puerto Rico’s strategic position to the US, Latin America and the Caribbean makes it one of the up and coming places to build a successful business. Recent developments in infrastructure and building has also improved its business environment and one that is now clearly viewing it’s day in the sun!

For more information about Las Americas franchise expo, please visit it’s homepage for more information about registration and expo attendance. Reserve your seat today!

If you would like to know more information about an upcoming franchise exhibition in your area, why not contact by sumbitting a comment below and I will let you know when the next franchise exhibition will be scheduled in your area…

Franchise Reporter

By Mary E. Tomzack

I reckon you have probably considered investing in a franchise or business opportunity for month’s now and you are still unsure of all the peculiarities of a franchise operation and what your role will be within the business operation? Well, wonder no more!

Mary E. Tomzack in her latest edition of “Tips and Traps When Buying a Franchise” unearths all the little problems you may encounter when you invest in a franchise and forewarns you of what to be aware of (traps) and what to keep in mind (tips) so that you get the best deal from your franchise business investment.

Tomzack begins by introducing the franchise concept as it now operates in the 21st Century and what this means for potential franchisees hoping to invest in a business. Never before has franchising been so strong and considering the last few year’s of economic prosperity- franchises have evolved into multiple operations combining many different franchise units.

As Tomzack notes: “The franchisee of the 21st Century is very likely to be the owner and manager of a sizable corporate entity…”

So what does this signify for potential franchisees?

Simple! It signifies there is a lot of potential for single-unit franchisees to expand their business into multi-unit entities with the support of the franchisor. In addition, this means that you can build a very strong and profitable business or businesses within a short space of time.

But how do you make sure you are getting the best business for your investment? Like many other franchise books I have reviewed the central issue in all of them is for potential franchisees to always choose a franchise industry they:

a) have previous work experience in, or

b) interests them or motivates them. One thing is certain- you must be passionate about the franchise you invest in…
Once you have decided to invest in a particular franchise opportunity, what TIPS and TRAPS should you be aware of?

This is where Tomzack’s book differentiates itself from any other franchise book I have read so far. Tomzack literally tells you the “tips” and “traps” to watch out for in the following franchise topics and many others :

1. The UFOC- what it tells you and what it does not tell you!

2. Financing your Business - who you should approach, how to approach them, what to ask, what not to ask and much more…

3. Choosing the right Location – what to look for and what to avoid when choosing a location for your business…

4. Business Bankruptcy - what if your franchise goes bust? How to avoid this happening and what to be aware of…

5. Franchise Trends – what franchise industry is currently booming? What franchise industry should your put your financial investment in to?

6. International Expansion - when to expand your business? How to expand your business internationally? The tips and the traps when expanding your franchise…

After reading Tomzack’s book I was left with the notion that I was after learning much more about the franchise industry than I ever thought possible. I was much more informed about the franchise industry and what to look out for and what to avoid when choosing and setting up a franchise.

This book is easy to read and you can dip in and out of it when you want to explore a specific chapter on its own. It is definitely worth reading- even if you only want to know the tips and traps about the 6 points I mentioned above…

Happy reading…

BEST FRANCHISE BOOKS

If you are interested in purchasing a franchise or business related book - you should check out Best Franchise Books - a comprehensive website which provides a list of all relevant business related books.

This website is the only portal of its kind in the industry to provide a dedicated resource for franchise and business related books.

It is worth checking this website out…

Franchise Reporter

Programs include - The Fundamentals of Franchising; What Franchising is and is not! Franchisee experiences and advice; Legal aspects of Franchising; Financing options and Franchising and much more will be discussed in various seminars held throughout the day.

If you would like to book your place at this conference, you should register ($20- includes breakfast, lunch and seminar materials) via The International Franchise Association’s website.

In addition, if you are one of the first 150 people to register you will receive a gift on the day of the conference.

Venue Details:
CHG Cityplace Conference Center
2711 North Haskell
Dallas TX 75204

For more information on this conference and any other conference in your locality, please contact me and I will write back to you,

Franchise Reporter

Cover Page

Name:

Address:

Telephone

Name of Business

Summary

Brief statements of following: business description (products or services), overview of industry, franchise profile, amount of loan request or investment capital needed, intended use of capital, repayment details.

Business Description

Legal business form; names and addresses of parties involved and general information on franchise, franchisor, franchise sector and industry.

Marketing Plan

Customer base- demographics; rationale for site selection and/or location of franchise business, analysis of market competitors, advertising and PR campaign plans.

Financial Forecast

Pro Forma Balance Sheet; Projected Cash Flow and Projected profit and loss accounts for the first year in business.

Investment or Loan

State the amount of your loan or investment needs, use of the funds and terms on why you are requesting this amount.

Other Documentation

Anything else that will help your case in understanding the business you hope to invest in.

If you would like to know more information about the Business Plan or any other franchise document, please leave a comment and I will get back to you,

Franchise Reporter

However, always remember that in a franchise business you will always have the back-up support from the franchisor, head office and franchisees, the Franchise Association and other leading franchise organizations set up to help franchisees. This is an important point to remember. Always seek the advice from your franchisor before making any decisions about the business when you are unsure of a solution and possible outcome.
View the following list of problems you may encounter within the first year of your franchise operation:

1. Not Enough Capital

This has to be the biggest problem franchisees encounter within their first year in operation. Ascertaining how much capital you will need at the beginning of the franchise start-up can be quite difficult to determine. But if you gain the advice of an expert financial consultant prior to the franchise investment - he/she will be able to calculate how much everything will cost to set up and operate your business in its first year.

It is vital you understand and are clear about your financial resources from the start so that your financial advisor can make the best cost-decisions for you and factor in any future financial eventualities so that you are covered for the business year…

2. Business Sales

I know that I am not a big fan of cold calling, I prefer emails! But if you are intending on operating your own business- then you will have to either cold call customers for sales purposes or partake in some sort of sales during the business operation. You must be able to retain customers and attract new customers to your business and the best way to achieve this- is of course implementing effective sales techniques.
A lot of franchisees can be anxious or nervous about selling products and services in a business if they have never encountered sales before- but if the business sales aspect of the business makes you nervous, then perhaps you really shouldn’t be in business in the first place. If you are determined to be in business consider employing a sales rep to help you achieve your necessary sales targets for the business to be profitable in its first year.

3. Staff/Employees

Another problem many first time franchisees encounter in their first year in operation is hiring, firing and the retaining of staff members. Often it can be difficult to hold onto good employees but if you provide employees with work incentives, benefits and other types of employee packages, then you will have a much higher rate of employee turnover.

Implementing employee benefit packages prior to your business launch will ensure you have the necessary procedures in place when you come to the stage of hiring and retaining key employees.

4. Time Management

Perhaps one of the biggest problems franchisees face in their first year of business, is the ability to time manage, prioritize and organize the business with familial and social obligations. But if you prioritize your skills in what you can do best for the business- for example, managing the accounts, hiring employees or ordering supplies- then you can employ other people to join your team to take care of the tasks you are unable to cope with. Knowing how and when to delegate power is one of the biggest challenges a new franchisee will experience.

Finally, remember that in business there will always be problems and as a Franchisee operating your own business you must account for these eventualities and handle them in a professional and effective manner. One thing to remember is- if a problem becomes too large to handle- always seek the advice of your franchisor who has year’s of business and franchisee experience.

Franchise Reporter

In the second part of this study (600 page document) the importance and growth of business services franchises was revealed to be much stronger compared to the product distribution franchise industry- growing at annual rate of 5.7% between 2001 and 2005, while the number of product-distribution franchises declined by 1.7% every year since 2005. (IFA)

Product distribution franchises sell a franchisor’s products and services in supplier-dealer relationships- examples are gas stations, automotive dealerships and drinks distributors. While business services franchises consist of the following categories:

• advertising and marketing;
• consumer credit reporting and debt collection services;
• mailing and shipping, courier services;
• employment and staffing services;
• miscellaneous services such as beauty, security (protection services), ATM technology services and so on.

These business services franchises operate their business in accordance with a franchisor’s operations manual and preferred business systems.

Business services franchises are the fastest growing franchise industry sector than any other industry sector according to this recent survey.

Click on the link provided here to view some of Franchise Direct’s top business services franchises and get in on this thriving industry…

Franchise Reporter

By the same token it is becoming increasingly difficult to break into the thriving music and entertainment industry because there is very limited “lucky breaks” for individuals and you not only need to have the natural talent but also music lessons, voice coaching, lifestyle coaching and dancing lessons to prepare an individual for the music industry. The earlier you get this training the better chance you have of breaking into the music industry.

Therefore for someone hoping to break into the music industry either as a musician or vocal artist it is best to practice and get into regular training when children are young and interested and work up a few year’s experience before attempting to break into the music industry.

How can you do this? Easy! There are hundreds of general interest music franchises built up around the demand for music lessons, vocal and theatrical coaching, fitness dancing classes and much more for young children and adults.

These are the places where young people can thrive and learn about music and dancing before leaving high school. Most music franchises have lots to offer and on a budget, making it easier than ever before for wannabe music starts to prepare for entry into the music industry.

Start training now!

Franchise Reporter

RICHARD NOUVEAU BURGER. $175
Prime Kobe beef, grilled and topped with aged gruyere, shaved
black truff les, foie gras and golden truff le mayonnaise

Source: Daily News

Credits: Mendez Mayita

What do you think of the fabulous gold-leaf burger for sale at $175? Would you buy it? Let me know and share your comments with the rest of us franchise bloggers out there!

Franchise Reporter