the Franchising Handbook The complete Guide to Choosing a Franchise
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ECON105
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ECON105
Publisher’s note
Every possible effort has been made to ensure that the information contained in
this book is accurate at the time of going to press, and the publishers and author
cannot accept responsibility for any errors or omissions, however caused. No
responsibility for loss or damage oc...
the franchising handbook the complete guide to choosing a franchise
publisher’s note every possible effort has been made to ensure that the information contained in this book is accurate at the time o
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the
Franchising
Handbook
The complete Guide to
Choosing a Franchise
Iain Murray
London and Philadelphia
,Publisher’s note
Every possible effort has been made to ensure that the information contained in
this book is accurate at the time of going to press, and the publishers and author
cannot accept responsibility for any errors or omissions, however caused. No
responsibility for loss or damage occasioned to any person acting, or refraining
from action, as a result of the material in this publication can be accepted by the
editor, the publisher or the author.
First published in Great Britain and the United States in 2006 by Kogan Page Limited
Apart from any fair dealing for the purposes of research or private study, or crit-
icism or review, as permitted under the Copyright, Designs and Patents Act 1988,
this publication may only be reproduced, stored or transmitted, in any form or by
any means, with the prior permission in writing of the publishers, or in the case of
reprographic reproduction in accordance with the terms and licences issued by the
CLA. Enquiries concerning reproduction outside these terms should be sent to the
publishers at the undermentioned addresses:
Kogan Page Limited 525 South 4th Street, #241
120 Pentonville Road Philadelphia PA 19147
London N1 9JN USA
United Kingdom
www.kogan-page.co.uk
The right of Iain Murray to be identified as the author of this work has been
asserted by him in accordance with the Copyright, Designs and Patents Act 1988.
ISBN 0 7494 4541 6
British Library Cataloguing in Publication Data
A CIP record for this book is available from the British Library.
Library of Congress Cataloging-in-Publication Data
Murray, Iain.
The franchising handbook : the complete guide to choosing a franchise
/ Iain Murray.
p. cm.
ISBN 0-7494-4541-6
1. Franchises (Retail trade) I. Title.
HF5429.23.M87 2006
658.8⬘708--dc22 2006008963
Typeset by Saxon Graphics Ltd, Derby
Printed and bound by Cambrian Printers Ltd, Aberystwyth, Wales
,Contents
Introduction 1
1 Nothing succeeds like franchising success 6
2 The ins and outs, the pros and cons 20
The different types of franchise 27; The pros and cons 31
3 Any questions? 48
A self-analysis summary 56
4 Searching for the perfect partner 58
Other sources of information 65; Can you afford the
franchise of your choice and what do you get for your
money? 65; Do I have what it takes? 69
5 Don’t shoot the wrong beast 73
Take a closer look at what catches your eye 75;
Checklist 82
6 Getting closer and getting help 85
Better than guesswork 93; The experts 94;
The most common snares and pitfalls 99
7 Signing on the dotted line 100
Termination of the contract 107; Things that you – or better
still, your lawyer – should look out for in a franchise
agreement 110
8 Winning over the bank 112
The borrower, otherwise known as you 115; The amount
you want, or need, to borrow 115; The nature of the
, x Contents
business 116; The nature of the loan 116; Repaying the
loan 117; Security 117; The business plan 118; The
interview 123; Dance of the seven veils – or what your
bank manager will want you modestly to reveal 126
9 Ladies (or should I say women) first 127
Some useful websites for networking women in
business 136
10 A little marriage guidance 137
Appendix 150
Index 207
Index of advertisers 211
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