There is an abundance of resources available on this site and elsewhere about franchising, whether for franchisees, franchisors or both. We always encourage prospective franchisees to undergo their due diligence and thoroughly research their options before committing to a franchise agreement. Today, we will be discussing several books about the franchise industry for franchisees. These books were written by seasoned experts in the field of franchising, and contain a wealth of useful information and advice for anyone considering investing in a franchise in the near future.
The Franchising Handbook: How to Choose, Start and Run a Successful Franchise
Carl Reader
The Franchising Handbook was intended to fill a gap in the market that author Carl Reader had observed; namely, that most books for prospective small business owners tended to focus on advice for start-ups at the expense of offering advice for prospective franchisees, and offering advice which was potentially counter-productive or detrimental for franchisees. Reader offers specific, detailed and practical guidance about all aspects of the franchise arrangement, how best to negotiate the agreement and how to present oneself to the franchisor. Reader has been a long-time committee member of the British Franchise Association, and was recently elected as their board director in December of last year. The Franchising Handbook is available from Amazon either as a hard copy or for Kindle.
The Franchising Bible: How to plan, fund and run a successful franchise
Kim Benjamin and Brian Smart
The Franchising Bible is intended for consumption by absolute laypeople in the world of franchising, and sets out to deliver a clear, unambiguous, jargon-free description of the industry. Benjamin and Smart offer extensive advice on how to secure funding, whether to franchise domestically or internationally, and other related topics. The book was in fact published in conjunction with the British Franchise Association, a sterling recommendation if ever there was one; co-author Brian Smart was, at the time of writing, Director General of that organisation. At 360 pages, it is the longest of the books covered here, so we recommend you set aside a week or so to peruse it in detail. The Franchising Bible is available from Amazon either as a hard copy or for Kindle; a free sample is also available for download from the Startups website.
The Franchise MBA: Mastering the 4 Essential Steps to Owning a Franchise
Nick Neonakis
The Franchise MBA may be better suited to an American audience than a South African one, as its author, Nick Neonakis, has specific experience in American franchising; and yet much of the advice it applies is universally applicable to any prospective franchisee. At just 232 pages, the book is divided into four sections: The Introspective Self; the Franchisor; the Franchisee; and the Legal and Financial, each section describing in detail all of the various aspects that go into franchising, from the personal to the professional. Neonakis is, among other things, CEO of The Franchise Consulting Company, a successful firm which offers guidance and useful information to franchisors and franchisees in over thirty different countries; he himself also has over ten years’ experience in franchising. The Franchise MBA is available from Amazon either as a hard copy or for Kindle; the latter version is available for free, so there is no reason not to check it out today.
Franchise Bible: How to Buy a Franchise or Franchise Your Own Business
Rick Grossman and Michael J. Katz
Franchise Bible is the only title of these four which contains advice for both prospective franchisees and also prospective franchisors. This multidisciplinary approach, suiting the needs of two very different audiences, should not be taken to mean the book lacks focus, and it is just as helpful and informative as any of the earlier mentioned volumes. Like The Franchise MBA, this book may be especially suited to American readers, but much of the information it provides is applicable in South Africa also. The book clearly delineates the business differences between product- and service-oriented franchises, and contains a wealth of information about regulatory bodies, other useful publications and other helpful resources. Rick Grossman has been involved in franchising since 1994, while Michael J. Katz is an attorney specialising in franchise law. Franchise Bible was recently re-released in a new edition for 2017, and is available from Amazon either as a hard copy or for Kindle.