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News

ARTICLE

Date ArticleType
8/21/2014 Professional Interest Sections

Franchising: The Good, the Bad, the Ugly
Doug Boehme, Regional Director, ISBDC

 
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Indiana Small Business Development Center
Central ISBDC
Doug Boehme, Regional Director

Our Mission
• The ISBDC creates a positive and measurable impact on the formation, growth, and sustainability of Indiana’s small businesses by providing entrepreneurs expert guidance and a comprehensive network of resources.

The ISBDC’s are:
• Partners with SBA and the newly established Office of Small Business and Entrepreneurship.
• Statewide in coverage with 10 regions based in chambers of commerce, economic development organizations, universities and units of government.
• Available to all types of small businesses in all stages of development.
• Part of a national network of 1,000 centers.
• Partner with FranNet which provides education and guidance to individuals interested in franchise ownership.

Debunking the Myths…
• Franchises are mostly about burgers & fries
• Franchises are expensive
• Franchises should align to one’s industry background.

FRANCHISE DEFINITION
• A form of business organization (the franchisor), which already has a successful product or service, enters into a continuing contractual relationship with an individual(s) (franchisees) operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee (royalty).

Why Franchising Works
• Proven Concept - possibly less risk
• Brand Name Recognition
• Defined Operations
• Well-defined Cost Structure
• Operations Support

Franchising Trends
• Baby Boomer
• Health and Wellness
• Personal Electronics
• Green
• Children
• Multiple-unit Franchising opportunities

What are the Challenges of Operating a Franchise
• Working Within the System
• Working With the Franchise Organization
• False Expectations

Nonprofit’s Value to Franchisors
• Ability to assemble an advisory board of industry experts
• Access to nontraditional financial markets
• Established community relationships and reputation.
• Existing accounting/marketing department
• Access to a loyal, trained workforce

Nonprofit’s Value to Franchisors
• Ability to assemble an advisory board of industry experts
• Access to nontraditional financial markets
• Established community relationships and reputation.
• Existing accounting/marketing department
• Access to a loyal, trained workforce

If you have additional questions on this topic, please contact:
Doug Boehme, Central Indiana SBDC 
dboehme@isbdc.org

Todd Pfister, FranNet
tpfister@frannet.com

The Small Business Development Center (SBDC) is partially funded by the U.S. Small Business Administration under cooperative agreement number 4-603001-Z-0015-19. The support given by the U.S. Small Business Administration through such funding does not constitute an expressed or implied endorsement of co-sponsor(s) or participants’ opinions, products or services. Any opinions, findings and conclusions or recommendations expressed in this publication are those of the author(s) and do not necessarily reflect the views of the U.S. Small Business Administration. SBDC programs are nondiscriminatory and available to individuals with disabilities.

© Indiana Association of Rehabilitation Facilities, Inc. (INARF)
    615 North Alabama Street, Suite 410, Indianapolis, IN 46204
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