franchise information

Franchise information sources are numerous

Franchise information sources are numerous

Can you recommend any beginners guides or franchise information sources for learning about the franchise industry? In other words, are there resources out there offering franchising information that amount to a franchise version of “DYI franchising” for starting a new franchise?

 Yes, but check out reliability of the franchise information

There are a number of books to be found the simple title “franchising.”  There are also numerous thoughtful articles on the subject.  For example, try the franchise articles section on this site under “for Franchisors” and ‘for Franchisees”.   That said, beyond the basics of how franchising works, there is a huge difference between gathering information on ‘buying a franchise‘ and information required to successfully ‘franchise a business‘.

If your goal is to ultimately buy a franchise, you probably know by now that there are dozens of websites dedicated to selling them. However, while those sites are good to see a variety of brands for sales, they are not necessarily a good starting point as franchise information resources. Why? Because their business is promoting franchise sales and unless you have an understanding of what you want and how the process works, you can easily become distracted and confused by the number of offerings out there. Also, be aware that the majority of folks today with the title ‘franchise consultant’ are operating as representatives and brokers. You may receive good help from those who are really knowledgeable, but understand their goal is income from a sale. Again, know first what you want and then look at franchise opportunities.

If, on the other hand, you are serious about franchising a business don’t do it from a book.  Get a professional to help mentor you through the franchising process.  Becoming a franchisor is extremely risky business. Sure, start with books and websites, but for the most part it is NOT a “do-it-yourself” proposition.  It may look like a self-study project at first, but there are more pitfalls than you can imagine waiting for you. Start with reputable help and a quality feasibility study.

Bottom line, franchise information sources are plentiful especially at the beginning stages. But if you’re getting into the franchise business for real, get hands on, reliable sources for information and guidance.