Franchising is a method of distributing products and services through a network of local business owners operating under a shared brand name. Franchisees pay fees to the franchisor for use of the brand name and receive initial and ongoing support, training, and participation in a proven business system. While franchising provides advantages like a established system and purchasing power, franchisees must also follow the franchisor's rules, pay upfront and ongoing fees, and there are no guarantees of success. The document advises finding a franchise by considering your goals, resources, and avoiding being limited only to businesses you already know.

2. What is Franchising?
• Franchising:
– Is NOT a business or an industry.
– Is a method of distributing products and services to
consumers.
– Utilizes a network of local owners (“locally owned and
operated”) operating under a shared brand.
• Franchisees:
– Pay the franchisor for the right to do business under
the shared brand
– Operate under a specified, controlled business method
or format
• Franchisors:
– Provide significant initial and on-going support

3. Advantages & Disadvantages
for Franchisee
Advantages
• Proven System
• On-going support
• Training
• Constant Improvements
• Purchasing Power
Disadvantages
• Following someone else’s rules
• Upfront fee
• On-going royalty
• No guarantees

4. What is today’s HOT franchise?
There is no such thing!

5. So how do you find the right business?
Determine what you want the business to do for you
Inputs:
• Experience
• Finances
• Time
Goals:
• Lifestyle
• Professional
• Financial
Business
If you only consider things you
“like” or have done before, you are
boxing yourself in

6. So how do you find the right business?
Determine what you want the business to do for you
Inputs:
• Experience
• Finances
• Time
Goals:
• Lifestyle
• Professional
• Financial
Business
If you only consider things you
“like” or have done before, you are
boxing yourself in