Opening a franchise business can be a bit overwhelming. While your franchisor will provide training and resources, there are also plenty of other resources available to support you. We've put together a list of our favorite franchise resources from information on choosing the right franchisor to legal guidance for franchisees.
General Information
If you are just starting, you may not even know what to look for yet. Websites that offer general franchise information like franchise opportunities, consumer marketing data, and information on franchise development can be helpful.
- Franchising.com: This site has tons of article that span a variety of different topics from multi-unit ownership to PR. Franchising.com also has resources to help you narrow down your list of potential franchisors, making it a great resource for any aspiring entrepreneur.
- Small Business Administration: The SBA site also has an extensive library of resources related to franchising and first-time business ownership. These resources can help you navigate the decision of buying a franchise as well as long-term planning for a successful business.
Choosing a Franchisor
If you are still in the early steps of starting a business, you may need assistance with choosing a franchisor. Which franchise is right for you? What type of business do you want to run? These sites can help answer those questions.
- The Entrepreneur Authority: The Entrepreneur Authority helps connect entrepreneurs with the right franchise opportunities. Their broker network is free for you to access, and their team can help you discover opportunities that match your skill set and personal interests.
- Franchise Research Institute: This institute conducts methodical surveys to gather feedback from franchisees. They translate the survey information into different reports and trends so you can directly compare franchisors.
- Franchise Grade: Franchise Grade is another great authority on franchising. They provide an index of over 3,000 franchise systems and provide scores across various categories.
Of course, there are a number of other consulting companies and franchise indexes out there. All of these resources can help point you in the right direction.
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Legal Tips
Many new entrepreneurs have no experience with the legal side of running a business. From understanding the franchise agreement to getting your licenses and permits, legal requirements can become confusing. Good thing there are plenty of resources out there to help!
- American Association of Franchisees & Dealers: The AAFD has a Franchisee LegaLine, which is an exclusive directory of legal experts who understand franchise systems. They offer free initial consultations for members of AAFD, but anyone can access the directory.
- American Bar Association Forum on Franchising: The ABA's forum focuses on discussing the legal aspects of franchising. They also have a law library with content specific to franchise law. Join a community to connect with other forum members, ask questions, and more.
You can also check with your franchise system to see if they recommend a particular attorney or other resources that are more specific to your industry.
Growth
Once you open a franchise business, you'll need to regain your initial investment and become profitable. While your franchisor provides a reliable business model, other franchise resources can give you additional tips to promote growth.
- FranConnect: FranConnect is a franchise management software designed to drive growth and improve profitability. The software can work for businesses in different industries and of different sizes.
- International Franchise Association: IFA is the oldest and largest franchise organization. Not only do they provide education for franchise owners, but they have a Franship mentorship program. Franchisees and franchisors can share best practices and strategic advice.
News
Knowing what's going on in franchising across the United States can help you better understand trends in your own market.
- Blue MauMau: Stay up-to-date on franchise industry news with the Blue MauMau. This site was designed to provide franchise owners with real-time news related to franchising. Plus, they are active in their comments section, so you can join the conversation.
- Franchise Times: The Franchise Times is a magazine with digital content available. Their goal is to be the top news and information source for franchising. The magazine is published monthly, but they publish digital content more frequently.
Local Help
In addition to these online sites, you can also find assistance in your local community. Sometimes, it can be more helpful to talk to someone face-to-face. Most communities have organizations that can help local business owners stay connected to other entrepreneurs.
- SCORE: This organization helps small businesses by connecting them with local resources, events, and mentors. Just enter your zip code to be matched with local connections.
- Small Business Development Center: As a partner program of the SBA, there are SBDCs across the country. This network of development centers are hosted by universities, state agencies, and other organizations to help small businesses grow. See if there is an SBDC near you.
- Chamber of Commerce: Your chamber of commerce supports all types of businesses, including franchises. Join your local chapter to be informed and help advocate for business interests.
These are just a few franchise resources out there! What are your favorites?
If you are looking for additional information on the home care industry, we invite you to reach out to our team. With over 30 years of experience, we know what it takes to be successful in home care.
