The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Franchise, Publish or Both?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Franchise, Publish, Both, Neither

  • Franchise

  • Publish

  • Both

  • Neither


Results are only viewable after voting.

Odysseus M Jones

Twin Propellers, Going Places
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
Feb 2, 2020
244
683
258
50.4555° N, 4.4647° W
Him: "Franchise my business? I think it's a terrible idea, people buy into a franchise for the name, I don't have a well known name.

On TV years ago, a trendy local hair salon was looking to build a name, then franchise it. They got nowhere.
You're technically not selling a franchise, just an instruction book on how to run the business.

A lot of what I do is instinct and experience, judging how much to cook, the timing of when to cook.
Stuff you learn by knowing your area, gauging people's work patterns around you
Knowing when a potato is ready is purely down to feel."

Me: "LOL
You have a track record
How long have you been in business?
And Mike before that?
You have a simple business that's easily systemised.
If it's such a bad idea then you won't mind selling me the master franchise for UK.
You'll be handsomely rewarded as my training manager."

Him: "Yeah, easy to write a system, the experience comes with practice.
If I sold the biz, I'd stay on for a couple of months
You'd probably just be selling a book for about 50 quid.....less my cut"

Me: "£50 a book? That's a good idea! Screw the franchise we'll make this a bestseller..."

Finally got my little brother talking about franchising his business & he inadvertantly throws that golden gumball at me.
(He talked equipment & operations later in the conversation, so he's on the hook)

A book!
I never thought of that.


I would really really appreciate any advice, positive or negative & any feedback you can offer on any of this.

What would you do?

To recap:
  • Franchising the business, either in partnership or master franchise
  • Writing a how-to start the business book
  • Another kind of book? Potato Profits & other business ventures you should try (there's plenty)
  • Any other lucrative options to Fastlane the business if franchising isn't viable? (Licensing, turnkey without trademark name)
My first thread since intro, not a braindump, I want to get my teeth into this.

Give it to me warts & all.
(His business is takeaway jacket potatoes & coffee)

I'd especially like to ask @Walter Hay your opinion. You're an expert on franchise & writing business books, but you did mention that food wasn't an ideal candidate.
What's your opinion?
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Last edited:

Walter Hay

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
Sep 13, 2014
2,611
10,750
2,453
World citizen
Thanks for inviting me to comment.

I agree that food is a very crowded franchise market area, but on the other hand the demand is there. People love an easy life, so they eat out or buy takeaways. Even eating takeaways in a park or on the beach can be, just like restaurant dining, a social event.

BUYING BECAUSE OF THE NAME? A lot of franchises only got to be a name to remember after they started franchising. My B2B franchise, selling imported products didn't have a name that was known widely in the industry, it had a reputation. It was that reputation, built by operating the business efficiently and profitably, that made it relatively easy to sell franchises.

Your first step on the road to the fastlane via franchising is to establish a successful and profitable business doing what you do best.

For a franchise selling to consumers, there is no doubt that a household name would make selling franchises easier, but how do you get the name to the stage where it is on everyone's lips? Reputation.

If you have a recipe or a meal deal that works, and you already have a clientele that comes back for more, you would make many times more money out of franchising the business than you ever could make by selling a book on the subject.

You certainly need to write a book. It's called an Operations Manual. Every little detail must be there so that even a dummy could produce and sell exactly what you are producing and selling.

You might need help to write that all in an orderly fashion while covering legal necessities. The franchise developer that I recommend in my book (not an affiliate) is one of the few I would trust to guide you through that process. In fact he is the only developer I would trust at all because almost every one of them simply wants to lock you in to allowing them to sell franchises for you.

Choosing to set up a franchises in partnership or not is up to you, but I don't like partnerships as a way to set up a business. Selling Master Franchises is the ideal way to progress to a big expansion phase, but that depends on your success in first selling individual franchises.

Walter
 
OP
OP
Odysseus M Jones

Odysseus M Jones

Twin Propellers, Going Places
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
Feb 2, 2020
244
683
258
50.4555° N, 4.4647° W
Thank you Walter, that is fantastic advice!

Your first step on the road to the fastlane via franchising is to establish a successful and profitable business doing what you do best.
My brother's business has been operating profitably for 36 years.
He was the employee first then took ownership over 10 years ago.
He makes a good living, but as you can see from the conversation above he doesn't have vision or perhaps ambition to scale.

To be honest even I overlooked the potential for his business until recently even though it was right under my nose.

Amongst my plans was to franchise another business, but that was with outsiders who possessed all the industry skills & knowledge, I'm just a salesman who sees opportunities.

My plan now is to spend time working with my brother to study the business, gain operational knowledge & work out strategies to market this.

I've finally piqued his interest, so one way or another I'll find a way to do this.

Thanks again
And I shall get your book shortly, do I use the link on your marketplace ad?
 

Walter Hay

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
Sep 13, 2014
2,611
10,750
2,453
World citizen
And I shall get your book shortly, do I use the link on your marketplace ad?
Yes, just use that link. You will receive a PDF copy soon after PayPal notify my son in law. (Unless time zones have him still asleep at the time.)

Don't forget I support all my books with help as needed.

Walter
 
OP
OP
Odysseus M Jones

Odysseus M Jones

Twin Propellers, Going Places
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
Feb 2, 2020
244
683
258
50.4555° N, 4.4647° W
Don't forget I support all my books with help as needed.
Thank you, that's wonderful to hear.

I just read an email from my brother & looks like he's in, I'm taking that as a yes.

"Regarding franchises, it's definitely more your area than mine, I did a test recently, on the BBC website, it confirmed what I knew, I'm spectacular at some things and bad at others.
My interest and attention to some things is terrible, and creating books and manuals isn't me.
I'm great in hands on situations though, I'm a great organiser and planner."

Seems we have complimentary skills too, he's training & operations, I'm sales and marketing.

Time to put this plan into action.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Fox's Web Design Guide: Earn $100K this year (Yes, 2020!) and Go Fastlane
In 2016 when I was doing dropshipping (fairly successful at the time) and a very close friend of...
  • Sticky
MARKETPLACE How To Create A 100K-1M+ Sales Funnel
@Lyinx lol man, okay. Just to make it clear to everyone else, I'm not involved with...
  • Sticky
MARKETPLACE KAK’s “Kill Bigger” Incubation Program- With DAILY personal attention.
I joined @Kak's business incubator in the first week of May. During our daily chats we uncovered...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
This is your May reminder that you can do this. I'll keep it short. These are the May promos...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks! This is a cool idea, actually. I would like to use your experience as I heard that these...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
would this be available in paper version? I know it's short, but most of my family is...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Here is where you eliminate uncertainty from the future! I wanted to post this image as I...


Visit A Forum Sponsor
sponsor

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom
AdBlock Detected - Please Disable

Yes, ads can be annoying. But please...

...to support the Unscripted/Fastlane mission (and to respect the immense amount of time needed to manage this forum) please DISABLE your ad-block. Thank you.

I've Disabled AdBlock