Street Smart Franchising

by Joe Mathews

The truth you need to know before you buy a franchise This straight-shooting franchise guide goes beyond the “how-to” to teach you what to expect when starting a franchise. Real-life stories from the trenches illustrate to you how to cope with the difficulties a franchise presents. Smart Franchising reveals the personality types most likely to succeed at franchising and warns you about the character traits that may increase the risk of failure. Plus, it offers an in-depth look at what happens during the research and investigation of a franchise, something glossed over in most franchise books.

Genres: Business

240 pages, Paperback

First published January 1, 2006

About the author

Mark Paul, senior scholar at the New America Foundation and a visiting scholar at the Institute of Governmental Studies at UC Berkeley, is a leading expert on California policy and politics, with three decades of varied experience as a journalist, policy thinker, and state official. He is the co-author, with Joe Mathews, of California Crackup: How Reform Broke the Golden State and How It Can Be Fixed.

Mark is formerly deputy editorial page editor of the Sacramento Bee and deputy treasurer of the state of California. His recent work on California issues has appeared in the Los Angeles Times, San Francisco Chronicle, Sacramento Bee, and The American Interest, and in leading California blogs, including Calbuzz, California Progress Report, and Blockbuster Democracy. He is co-author, with Micah Weinberg, of Remapping the California Electorate, in R. Jeffrey Lustig, ed., Remaking California: Reclaiming the Public Good (Heyday Books: 2010)."

Reviews

[Nick · Rating 4 out of 5]

Learned a lot. Wasn't actively starting a franchise but felt weirdly pressured to do so.

[Juan Diego Aristizabal · Rating 4 out of 5]

I met the authors’ company when surfing in the net and while I am just a novice in franchising I would say that FPG (Franchise Performance Group) has an enormous authority in every advice they give on this business. Their advice makes me feel they are the best, just because of the noticeable well intended approach to take franchising to the best possible practice.

[Erin · Rating 1 out of 5]

This book was poorly written and completely devoid of useful anecdotes. I picked up the book hoping to understand the financial requirements to become a franchisee in my chosen industry as well as the potential return on investment. It failed to provide the detailed information necessary to even begin one's quest. The authors instead deployed numerous manipulative digs masqueraded as advice. For example, the authors spent considerable time comparing the 99% of people that will ultimately choose against opening a franchise with the almighty 1% that take the plunge as if the 99% didn't have enough fortitude to make a go of it. This was far from an objective comparison. Quite frankly, a legitimate book would not need to stoop to these measures. These tactics are usually used when an employer has to work to sell the merits of the position being offered.

The authors continually referred to this as an entrepreneurial venture but were adamant in telling the potential franchisee that they should not question the franchisor and should do as they are told since the franchisor's process undoubtedly works. The author stopped short of telling the reader to mindlessly follow the process. This was a vexing notion, to say the least. This would make me question the interests of the authors. I would think this attitude would be confining for most entrepreneurs. The author even had the audacity to say that if the reader didn't finish the book, the reader likely wouldn't be a successful franchisee. This feels entirely hypocritical given the author's lecture on time management. One needs to be able to cut ties with a bad investment and move on. I would think that would be one of the more desirable traits of an entrepreneur.

This is one of the worst business books I have ever read. I was seeking tangible and quantifiable data with the tools to analyze the potential investment. I don't want help in assessing my goals - I have already assessed them. I want help in analyzing the business opportunity that goes beyond simplistically judging whether the franchisor has a developed business model. This book failed on all levels.

[Tami · Rating 5 out of 5]

Street Smart Franchising states that 94% of entrepreneurs that go into franchising describe themselves as successful yet only 1% of individuals who look into this enterprise will actually join a franchise. It would seem that the other 99% make emotional decisions and decide that the risk isn't worth the potential opportunity. This could probably be said about any entrepreneurial venture which is probably why most people keep working in jobs that they despise.

Street Smart Franchising is written to try to increase that 1% by demystifying the franchising process. Yes, the risks are real. Getting into a franchise often costs a good deal of money upfront. The amount of training one must go through is often time consuming. Then, the first few months of business are an uphill battle of finding (and keeping) good employees, dealing with suppliers, and trying to bring in customers while only earning royalties.

However, franchising has its benefits as well. Once through the initial growing pains, most outlets do very good business. Entrepreneurs don't have to worry about branding their merchandise or creating new products. Plus, they have built in training, mentoring, and networking resources. Moreover, there are countless franchising opportunities to suit any lifestyle, interest, or bank account.

[Sara · Rating 3 out of 5]

I work in Franchise Sales, and this is a book that we provide to prospective franchisees as they work through the franchise process.

The content is excellent for someone who is on the fence about if they want to be an enterpreneur - it doesn't pull any punches talking about the risks involved, and that you have to be the right sort of personality to be successful. It's filled with helpful checklists and advice as to how to navigate the franchise world.

The downside? This book needs a good editing. Typos and even repeated paragraphs were distracting to me as a reader. The content is worth working through, but it made me second guess whether this was a book we should be presenting to prospective franchisees as a result.