Knitting and Sewing
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Practical, Pragmatic Preparation
   
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Modern Developments In Spinning
Compact Spinning
Protruding fibres from the body of yarn, known as hairiness, is a characteristic feature of staple fibre yarns. This .....
Compact Spinning
Protruding fibres from the body of yarn, known as hairiness, is a characteristic feature of staple fibre yarns. This .....
Franchising 101: The Complete Guide to Evaluating, Buying and
Growing Your Franchise Business
Edited by Ann Dugan, Published by the Association of Small
Business Development Centers (ASBDC)
Cooked up by CPA's, Attorneys and Insurance Brokers, with a dash
of disgruntled franchisee and a pinch of fatherly advice from a
franchisor, this utilitarian dish is nothing if not healthy.
With a steady diet of this recipe, potential franchisees will
leave the table full and satisfied and yearning for a VERY rich
desert to make up for all the pragmatic, reasonable and
intelligent ingredients used to prepare this three course meal.
Course 1: "Choosing Your Franchise" opens with a light salad of
franchising history explaining how Singer Sewing Centers were
the first franchisor in 1858. There are tales of early
automobile dealership franchises, oil company and service
station franchises, and motel chain successes that lead to the
explosion of the franchise phenomenon in the 1950's and 60's.
The bulk of the color is made up of tart slices of Ray Croc's
EGGcellent Ways To Recycle Egg Cartons
Money Container - Use old egg cartons to store your change for garage and yard sales. Egg cartons are good for this because you can separate all the .....
establishment of the Franchise staple, McDonald's. With someMoney Container - Use old egg cartons to store your change for garage and yard sales. Egg cartons are good for this because you can separate all the .....
dressing made up of a bit of "Good News Future" discussing the
establishment in 1992 of the American Association of Franchisees
and Dealers or AAFD, (the equivalent of a Franchisees union) to
tilt the flavor toward sweet.
There are croutons here to add texture and variety, warning that
you must be very clear that there is a large difference between
an entrepreneur and a franchisee. It is simply stated that if
you spend more time thinking about how things "could or should
be" then it is likely you are an entrepreneur and that
franchising is definitely not for you. Predefined trade dress,
business practices and required equipment, signage, etc., are
each carefully chosen and non-negotiable by the franchisee. Once
again, the AAFD proudly spices this ingredient defining newly
negotiable items of contracts and leases while clearly stating
that the Franchisor maintains the upper hand in all cases.
>From the initial colorful history right into the bland body of
"how-to" information through helping the potential franchisee to
determine the selection, research, pricing, purchasing a
franchise and choosing location and leasing details. Finally
there is the tart flavor added by a none too happy franchisee
who thought long and hard but ignored danger signs in acquiring
a business she had decided on before her research told her that
this was a sour deal.
Course 2: "Acquiring your Franchise" is the main course and
while definitely healthy and well prepared, it is something you
read because it is good for you, not because you like it. This
course is made up of a discussion of another acronym, the UFOC
or Uniform Franchise Offering Circular. This is a federally
mandated document outlining 23 precise ingredients that must go
into this course of the meal.
If you are purchasing a franchise, then this will always be the
main course and will always have these ingredients. Two
attorneys walk you through the preparation of the franchise
agreement, lease negotiation, incorporation, cash flow, banking,
loans and business plans. You know you must finish this bland
course, but yearn for some spicy condiments that just aren't
available in this healthy, well-balanced meal.
Course 3: "Managing your Franchise" is a natural side dish
Knitting And Sewing News
Content .....
discussing the managing, motivating, hiring and firing ofContent .....
employees. The body of this dish is made up of more healthy
requirements of market research, taxes, insurance, accounting,
marketing and business management practices. This course is
spiced a bit with the fatherly advice of a franchisor who
basically suggests that franchisees should respect their elders
and be good kids and they will be rewarded with favoritism.
Altogether I'd have this meal if the only other choice were the
bland bread and water of a nine-to-five work-a-day routine, but
what it all comes down to is that operating a franchise is
serious business, that it takes money to make money, and that it
will clearly be very hard work. There are the benefits such as
managing your own time, doing what you enjoy, scheduling your
own vacations and making major decisions without a boss hovering
over you.
This hearty meal will be very good for you if you've decided
that franchising is the career path you wish to follow. Nothing
is left out of the recipe and there will be plenty of good
information to fill your financial plate. After you clean the
dishes and make your decisions you'll definitely want to go
elsewhere for desert because Franchising 101 offers up only
pragmatic, practical fare with no coffee or desert on the menu.
This is the hard work without discussing any of the rewards to
tantalize you and only a sad tale of one unhappy franchisee to
feed your appetite for possible self-fulfilling careers.
About the author:
Mike Banks Valentine WebSite101 "Reading List" Weekly
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