The 8 Best Franchising Books of 2020
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Becoming a franchisee can be an incredibly rewarding business experience — or one of the most embarrassing failures of your life. To make sure you fall into the first successful category, you will need to read up on the process of selecting the best company to work with, how to navigate the process of opening and choosing your location, how to run a company and how to make the complex relationship work for you. Whether you are in the beginning stages of selecting a franchise or are looking to become more productive as a franchise owner, there is a book for you. Read on to see which books will help you have a leg up when it comes to franchising.
Best Before You Begin: 101 Questions To Ask Before You Invest In A Franchise
Undertaking a new business venture requires some serious soul-searching, and investing in a franchise is no exception to this rule. Aside from investing in a house, investing in a business is probably the most significant financial decision you will make in your life, and it pays to take it seriously. This Kindle e-book is the first thing you need to read if you are thinking of investing in a franchise or becoming a franchise owner and operator. Written by franchising expert Dr. John P. Hayes, this book outlines the questions that you need to ask yourself, your potential business partners, professional advisors and franchisors before you go into business. If you ask these questions, you will not only be more informed about the exact specifics of what you’re getting yourself into, but you’ll also be more confident as you begin this exciting venture in your life.
Best for Choosing A Franchise: The Franchise Rules
If you have asked the 101 questions above of yourself, your potential business partners and your financial advisors, it is time to start making sure you pick the exact franchise that will help you meet your personal and professional goals. While investing in a franchise may seem like a quick way to make your dreams come true, it is actually an incredibly time and money intensive process — and if you do not make sure the type of franchise you are investing in is a perfect fit for you, you will be doomed to fail (or be miserable) before you even begin. Are you starting to get anxiety? Do not worry, this book will help put you at ease and save you a ton of time. Developed over several decades, Michael Martuza’s book guides you carefully towards finding your perfect fit that will make you happy to put in the hard work that will be required.
Best for Newbies: Franchising Demystified: The Definitive Franchise Handbook
Running a business is only half of the battle if you choose to franchise as a way to make money. This book by Wayne Maillet dives into the details of the franchisor-franchisee relationship and teaches you how to make it work for you. The author has experience working in the corporate side of franchisors, so he knows what he is talking about and delivers a straight-talk guide to how you can get the most out of the relationship. You will learn how to effectively maximize your profits and understand your rights under your license, as well as improve your business relationships and grow your company. The book is packed with examples of those who have gone before you, so you will get to “experience” their successes and failures before you get started for yourself.
Best for Understanding The Details: Franchise Bible
Nobody likes doing paperwork and understanding legal forms, but if you are going to become a franchise owner, you had better get used to it. Written by franchise expert Rick Grossmann and franchise attorney Michael J. Katz, this guide will give you decades-worth of hard-earned insight on how to master the documents, forms and organizational skills you will need to launch and run a successful franchise. The book includes sample franchise documents and checklists to give you a good idea of what you are getting yourself into, as well as tips on how and when to expand your business going forward. Learning all the ins and outs of a franchise from renowned experts puts you ahead of the rest. As the title suggests, this is a book that covers the most important key information all franchise owners need to know.
Best for Making Your Franchise Work For You: The Educated Franchisee
Once you have asked yourself the 101 vital questions and determined what sort of franchise is the best fit for you, it’s time for Rick Bisio’s book on how to pick the best franchise for your personality and your pocketbook. This updated edition will not only help you gain even more skills needed to select the best franchise for you but will teach you how to make it profitable in the short and long-term. You will expand your knowledge about where to find quality franchisors, the five keys to successful franchise ownership and how to create long-term wealth through your company. Once you read this book, you will feel more confident about the day-to-day operations of your work as well as valuable strategies for managing your investment far into the future.
Best for Picking A Location: Brick & Mortar Franchise Success
You have picked the perfect franchise and are ready to get started. Just one question remains: where do you put it?! While choosing a location for your business seems like an easy decision, it’s anything but. Written by industry veteran Carolyn Miller, this book is a must-read before you buy or lease a plot of land. It will help you avoid costly mistakes that could sink your business while giving you insight into how real estate, and mainly commercial real estate, works. One of the best bits of advice Miller gives is that you should master the essential skills of the building process before you sign a lease — otherwise, you’ll be spending your hard-earned money well before your business is making a single dollar. Take the guesswork out of the process by learning everything about development and getting the best value for your money before you break ground or even hire any contractors.
Best for Professional Development: The Franchise MBA
You have done some hard introspection, you have selected the perfect franchise to meet your needs and you’ve started building your business. While there’s a lot of information online and in books for those who are looking to invest in a franchise and for those just getting started with running one, there is much less information available for those who are trying to work their way up the ladder and take their business from “just getting started” to “good” and then “great.” Enter this practical book by Nick Neonakis, which will help you master the four essential skills you need to bring your business to the next level. In addition to in-depth information on the franchisor-franchisee relationship, this book will walk you through becoming a more introspective business owner as well as how to master the legal and financial skills you will need.
Best for Becoming More Productive: Smarter, Faster, Better
If you are running your own business, there will be days and weeks and even months when you feel utterly overwhelmed. Thankfully, becoming more productive is an easy way to take a bit of weight off of your shoulders and help you feel more in control of your work and your life. In this essential read, Charles Duhigg shares eight keys critical to productivity as well as his “mental tricks” to help you cultivate a healthier mindset. Using captivating stories as well as the latest research in neuroscience, psychology and business, Duhigg will keep your attention and teach you a ton along the way. It is an excellent read if you have been struggling with motivation, lack of focus and the ability to get things done. Mastering productivity will help you become a successful business owner.