Rick Bisio speaks to students about location, demographics and the prosperity of a franchise in different market areas
Orlando, FL - Current economic conditions are causing many people to lose their jobs or suffer cut-backs, resulting in lower pay and/or fewer work hours. Many are forced to work two jobs if they are fortunate to find additional work. Others are going into business for themselves. Rick Bisio, franchise consultant and author of the book, "The Educated Franchisee," is in the right business today. Rick educates entrepreneurs to make good decisions when researching franchises and becoming franchisees.
Rick spoke at a recent seminar to provide franchise information to students. The topic was "location, location, location." Rick said, "There are numerous reasons a franchise that is prosperous in one town will do poorly in another. Even if the franchisee is doing everything right, the business can be affected by territory size, population density or demographics."
Rick advised his students to compare the territories and to question other franchisees who are in comparable areas as to population density and demographics to see how successful they are. "When you analyze the demographics you should be considering a number of factors including gender, race, age, income, education, home ownership, home values and employment status. Does your franchise appeal to the people in your market area?"
As the lecture concluded, Rick said, "Research your market and be sure you are in one that is expected to remain the same or improve over the next 10 years; 10 years is a common franchise contract term."
Rick has been recognized as one of the premier franchise consultants in the US and has mentored thousands of individuals on making the right decisions about franchise ownership. Visit http://www.educatedfranchisee.com for a free newsletter and more information.
Contact:
Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com
http://www.educatedfranchisee.com
It is crucial, as part of your franchise education, to compare your franchise territory to other territories in the system. Here are some specific areas to investigate.
Total population numbers
The majority of franchises are sold by territory. The franchisor sets the territory size required to support that particular franchise. Careful franchisors will not knowingly sell a territory that doesn't have the population numbers to support their franchise. But they will sell territories that match their minimum criteria. If you are buying one of those marginal territories, you want to discover that up front, and you want to determine if the territory size is expected to increase or decrease in the foreseeable future. Ask the franchisor for the names of franchisees whose territories are similar in size to the territory you are considering. Call them and find out how successful they are.
Population density
Ask the franchisor for the normal radius for attracting customers. Is it 2 miles? 10 miles? Then ask for the names of franchisees who have population densities comparable to the densities in the territory you are looking at. Call them to find out how successful they are.
Demographics
A futurist named Andrew Zolli summarized the importance of demographics:
"You can't understand the future without demographics. The composition of a society - whether its citizens are old or young, prosperous or declining, rural or urban - shapes every aspect of civic life, from politics, economics, and culture to the kinds of products, services, and businesses that are likely to succeed or fail. Demographics isn't destiny, but it's close."1
When you study the demographics of your territory, you will be considering a number of factors, possibly including gender, race, age, income, disabilities, education, home ownership, number and value of single-family homes, and employment status.Will your franchise attract a broad demographic or does it have specific appeal? If the franchise serves a market segment - say students, wealthy homeowners, or small business owners, for example, does the territory you're considering have enough of those customers? Is their average income and education level in-line with the franchises typical customer's income and education? Ask the franchisor which territories are similar in terms of demographics. Call them and find out how successful they are.
Perform Your Own Research to Get the Best Franchise Information
In addition to speaking with existing franchisees, do your own research on current and projected population totals, population density, and demographics, including economic trends. You should be able to find information on line. Visit your local reference librarian to see what s/he has available. Additionally, your state may offer free services.
Don't do the mistake of founding a franchise purchasing decision on your level of enthusiasm or on what you personally think will work. Make sure you have a market, and that the market is expected to stay the same or improve over the next 10 years (10 years is a common franchise contract term).
If you are ready to work hard, becoming a franchise owner can help you reach your financial and lifestyle goals. Just make certain to eliminate as much risk as possible. Do your research before you sign on the dotted line.
1 Andrew Zolli, "Demographics: The Population Hourglass," Fast Company Magazine, March, 2006.
Sign up for our FREE monthly newsletter at - http://educatedfranchisee.com/signup.aspx
The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. 
Our objective is -
‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it. An educated franchise buyer will move into the franchisee role with their expectations properly set and will have a heightened potential for success within the franchise system creating a win/win for all involved.
To get more franchise information about how to stack the deck in your favor -
Visit our website at www.educatedfranchisee.com or
Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or
Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.
The marketing power of a franchise system provides the same advantages as a business with a dozen locations in a market.
St. Petersburg, FL - Rick Bisio is a well-respected franchise consultant and author of the franchise training book, "The Educated Franchisee." Rick speaks at seminars and has trained thousands of entrepreneurs how to make good decisions in the franchise business.
At a recent meeting for aspiring entrepreneurs, Rick gave a lecture about franchises and marketing. Rick said, "One of the several advantages of joining a franchise is the marketing that is made possible when you're part of a large organization. The franchisor is a key resource that works to your advantage because he can negotiate national pricing agreements and pass the savings on to the local franchisees."
Rick told the group what questions to ask when considering purchasing a franchise. "Ask how much marketing the franchisor will execute in your area and how the marketing dollars are allocated and the type of marketing that is done for your area. Understand who is responsible for different components of marketing and how much of the cost is included in the mandatory marketing contribution. Most importantly, find out the opinions of other franchisees; are they happy with the marketing and does it appear to be effective?"
Rick Bisio has consistently been recognized as one of the premier franchise consultants in the United States and has successfully worked with thousands of individuals helping them to make the right decision regarding franchise ownership. To learn more about how to identify a great franchise businesses and stacking the deck in your favor, go to http://www.educatedfranchisee.com
Contact:
Rick Bisio
FranChoice Consulting
(941) 778 4660 PH
(941) 778 4670 FX
(800) 708 0040 Toll Free
rbisio@franchoice.com
http://www.educatedfranchisee.com
This Press Release was submitted by Right Now Marketing Group, LLC
One of the several benefits of joining a franchise is the marketing that is made possible when you're part of a large organization. As I say in Chapter 6 of my franchise book, The Educated Franchisee, the marketing power of a franchise system delivers the same advantages as a business with a dozen locations in a market. The franchisor is significantly more efficient than any independent franchisee can be. Professional marketing materials are expensive and valuable, so having materials provided by the franchisor is a key resource that works to your advantage.
The marketing should drive clients to the franchisees without having to hire and manage an outside marketing firm. A uniform marketing message helps establish the franchise brand across the marketing area. Because all the franchisees pay into the marketing fund, the franchisor can hire a strong marketing firm and afford larger media buys that an individual franchisee probably could not afford. And because a large franchisor has enough marketing volume, the franchisor can negotiate national pricing agreements and deliver saving to the local franchisees.
So Why is the National Marketing Program often Problematic?
The marketing program is usually an area of difference of opinion between franchisors and franchisees. Occasionally, the conflict is warranted. Many times, it's not.
Look at this.
· Marketing programs are funded by mandatory contributions made by franchisees. Some franchisors demand a fixed amount; others charge a percentage founded on the gross sales of the unit, but either way, it's required of all franchisees.
· Although we all see advertisements, direct mail pieces, etc., most of us actually have no idea what goes into creating, executing and monitoring these programs. . But we think we do.
· It's always challenging to spend money on something you have little or no control over. Perhaps especially hard for the entrepreneurial individuals who gravitate to franchise ownership.
· It's easy to second guess, and consider the expense, without seeing the absolute necessity of a strong franchise marketing program.
That said, marketing constitutes an art as well as a science. Some programs are efficient and some are not, so you do want to do your best to evaluate the program and make sure it will work before you sign any franchise documents!
Here are some questions to ask the franchisor:
· How much marketing will the franchisor carry in your market? How are marketing dollars allocated? Ad dollars go a lot further in rural Wisconsin than they do in New York City.
· Is your market a typical market? If the majority of the materials are targeted to a certain demographic, and your market is constituted of a different demographic, how will that be handled?
· Are franchisees responsible for any marketing, and if so, what components? Is the cost of those components included in the mandatory marketing contribution?
· What percentage of the marketing budget is spent on image advertising vs. call to action advertising?
· What elements of the program are most effective?
· How is the marketing program evaluated, and how often? Are results shared with franchisees?
· Is the marketing program fully transparent? Will the franchisor provide you with an annual accounting of both the income and the expenses of the national advertising program?
· Ask the franchisor if s/he will send you copies of their ads and promotional pieces during your franchise investigation. Most franchisors will send items that are in the public domain.
Here are some questions to ask the franchisees:
· Do they keep track of how their customers discover them? If so, what percentage is from the marketing program (vs. word of mouth, driving by, etc.)?
· Which tactics are the most effective? Electronic marketing? Television ads? Direct mail?
· What things - if any - would the franchisee modify about the marketing program?
The bottom line.
Maybe the easiest measure is this: If you talk to a number of franchisees, and most are unhappy with the marketing program (for reasons other than cost), you will probably be unhappy as well.
Conversely, if most franchisees find the program is working (even if they consider it costs too much) it is probably an effective franchise marketing program that will be an important factor in your future success!
Sign up for our FREE monthly newsletter at - http://educatedfranchisee.com/signup.aspx
The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. 
Our objective is -
‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it. An educated franchise buyer will move into the franchisee role with their expectations properly set and will have a heightened potential for success within the franchise system creating a win/win for all involved.
To get more franchise information about how to stack the deck in your favor -
Visit our website at www.educatedfranchisee.com or
Purchase our franchise book - The Educated Franchisee by Rick Bisio, Franchise Consultant or
Contact author directly at rbisio@educatedfranchisee.com or call 941 778 4660.
"Buying an existing franchise will give you a solid franchise education," said Rick Bisio as he shared tips and information about studying an existing franchise
Tampa, Fl - Rick Bisio, franchise consultant, spoke to aspiring entrepreneurs at a meeting held in Tampa, Florida. He discussed franchising as he focused on researching and purchasing existing franchises. The first tip Rick gave the group was, "Be discreet; most sellers will not broadcast that the business is for sale. This is positive for you and for the seller. Selling a business takes time and it is in everyone's best interest if the employees and customers do not spend time concerned about "what ifs."
Rick explained his system for researching a franchise; study the franchisor, meet the owner, call other franchisees, explore external changes, learn about the employees and examine the physical plant.
"It is important that you study the franchisor, as this is the person you will be signing a long-term contract with, not the seller," Rick said. "If you are satisfied that this franchise will conform to your skill set and fulfill your financial and lifestyle needs, then it is time to meet with the owner. Find out why he/she wants to sell and ask to see the history of the franchise's financial performance. The seller should be happy to supply balance sheets, income statements, tax returns and other financial statements."
Rick recommends calling other franchisees in the business to learn more about the possible downsides, as it is unlikely that the seller will readily disclose this information. "You must execute your due diligence to discover if there are internal or external problems that will make the business undesirable. Visit the area Town Hall and inquire if any large projects are slated for the area where the franchise is placed. These types of projects can be positive or negative; it is helpful to know what is happening in the area."
If one is happy with all they have found out at this point, and they are seriously considering purchasing the franchise, Rick added some final advice, "Find out about the employees, their salaries, the hours they work, their skills and the rate of employee turnover. Ask if there are any employment agreements or understandings, salary disputes, etc... Examine the physical plant. Look into the location and equipment, the status and terms of the lease, the temperament and availability of the landlord, and the value, age and condition of all equipment and vehicles."
The group of young entrepreneurs was quite satisfied with the information and advice provided by Rick Bisio, as they gave a hearty applause after his speech. They left with a good understanding that to guarantee success in purchasing a franchise, they must do good research. They learned the importance of making sure they will like the business model and franchise management team, they understand the financials and are aware of the surrounding community.
Rick Bisio of FranChoice Consulting is the author of the book, The Educated Franchisee. To learn more about how to identify a great franchise businesses and stacking the deck in your favor, go to http://www.educatedfranchisee.com or buy the book - The Educated Franchisee - on Amazon.com. Rick's books and articles cover everything you need to know about buying a franchise, owning a franchise, franchising skills and requirements, finding the right franchise, recognizing great business opportunities, starting and building your own business and more about business franchises.
I provide franchise consulting for people considering buying a franchise. My objective is to match the right person to the right franchise and share my knowledge about the franchise business.
Although many people would say my entry into the franchise business was in 1994, I would have to say it happened long before that. The franchise business is just a subsection of entrepreneurship, something I have been involved in my entire life.
I was born in Kansas City, the son of a hard working and independently minded father. Naturally, my father owned his own business. Entrepreneurship is what I knew growing up and it is the foundation of how I look at the world. If you want your children to grow up confident in their own abilities, start a business and let them take part. It will give them the confidence to tackle anything in life.
Although I had many small businesses in my youth, my first full time business started when I was 25 years old. I secured the exclusive rights to import a variety of Italian plumbing brands and promptly quit my corporate job. When I started this business, I knew nothing about plumbing products and I had no contacts within the United States plumbing industry. This was what you commonly call a ‘boot-strap start-up'. Suffice it to say that I learned a lot.
After selling my business, I spent several years both teaching and studying. While studying for my Master's Degree in International Business in the early 1990's, I was introduced to the franchise business model. This chance encounter changed my life.
I joined AFC Enterprises - Popeye's Chicken and Biscuits, Church's Chicken, Cinnabon and Seattle's Best Coffee - as their Director of International business. During the 1990's I visited over 60 countries and successfully established these franchise systems in over 30 countries. Thanks to the many wonderful people that coached and mentored me during those years, I literally gained a lifetime of experience in the franchise business.
Since 2002, I have been given the wonderful opportunity to share my experiences in the franchise business by providing coaching services to individuals considering buying a franchise. My objective in this book is the same as in my practice. I want to match the right person to the right franchise and, in the process, share my knowledge about the franchise business.Buying a franchise is an important decision. I know this book will help you.
The Book
The Educated Franchisee is more than just a book about buying a franchise - it's a book that also helps you decide if you should buy a franchise. All too often, when people suggest they may be interested in buying a franchise, advice is overflowing from friends, relatives, colleagues and a variety of so-called experts.
Chances are, they all may be wrong.
But if you're looking for a practical, easy-to-understand guide that helps you arrive at clear-cut answers to why and how you should buy a franchise business, The Educated Franchisee is the ideal tool for you.
Prior to writing The Educated Franchisee, we sat down to define our mission statement. It is as follows -
‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it. Ideally an educated franchisee will move into the franchisee role with their expectations properly set and, as a result, will have a heightened potential for success within the franchise system creating a win/win for all involved.
Always remember that buying a franchise is not the destination, it is the vehicle. To have a safe trip you need a clear destination, a detailed map and a reliable vehicle. The Educated Franchisee is designed to help you at all three levels.
As you would expect, The Educated Franchise contains a wealth of useful franchise information designed to help you make a well informed business decision regarding buying a franchise - this is the vehicle. But buying a franchise is only part of the equation.
The Educated Franchisee also seeks to increase a new franchisees potential for success when buying a franchise. This is accomplished by properly defining your ideal business model prior to jumping into a full fledged examination of various franchise alternatives. The Educated Franchisee also provides you with information that will allow you to properly set your expectations as a franchisee and preserve your positive focus on success. This is both the map and the destination.
All three parts are critical when buying a franchise. Be deliberate and thorough in your preparation ... and your chances of a successful journey will be greatly improved. Educated Franchisee is a critical tool if you are seriously considering buying a franchise.
"Rick has rewritten the expression ‘live and learn' to say ‘study, learn ... and earn.' For someone thinking about business ownership, that approach is more powerful and relevant."
- David G. McKinnon - IFA Entrepreneur of the Year - 2001, Co-Founder, CEO and Chairman of Service Brands International (Molly Maid, Mr. Handyman, 1-800-Dry Clean, Ductz Air Duct Cleaning).
"Becoming a business owner is scary, and for good reason if you don't know exactly what to do to be successful. The Educated Franchisee takes stress out of the process and gives you everything you need to make confident, smart decisions. This book will be your most valuable ally as you discover the lucrative and exciting world of franchise ownership."
- Larina Kase PsyD, MBA, New York Times bestselling coauthor of The Confident Speaker and Business Coach to franchisees.
"Fear is a good motivator. So is wealth. This book shows they can work together to help you find success as an entrepreneur in franchising."
- Frank Carney - Co-Founder Pizza Hut - Current Franchisee Papa John's Pizza
"The power of knowledge when met with the ability to dream come together in a fantastic roadmap that is The Educated Franchisee. Whether it is understanding what makes a good entrepreneur or, taking that a step further, what makes a good franchise, this book gives a frank and honest picture of dreams in a very real world of possibilities. The world of business and franchising. Read and learn."
- Dina Dwyer-Owens, Chairwoman and CEO, The Dwyer Group
"If you're wondering whether it's time for a change in life - this is a must read! It's filled with insights and useful nuggets of information. Let Rick's experience and wisdom be your guide to understanding how to harness the power of franchising."
- Lori Kiser-Block, President, FranChoice, Inc.
"Rick Bisio's effort to help prospective franchise investors gain the education and knowledge they need to enter the exciting world of franchising is an important undertaking in a rapidly-growing industry. His experience as a franchise professional gives him special insights into the needs of those new to franchising."
- Matthew R. Shay, President, International Franchise Association
"As a new franchisee, the knowledge and teaching Rick shares in this book is invaluable. In many ways becoming an entrepreneur is like going into space - the better you prepare, the lower the risk. This book will help you plan for a safe and exciting voyage."
- Andy Allen - NASA Astronaut (Pilot 1992 and 1994, Mission Commander 1996), Top Gun Pilot, Franchisee of BounceU.
"The Educated Franchisee is a "must read" for anyone thinking about or actively pursuing a franchise business. Read it and save yourself enormous amounts of time and money!"
- John Hewitt is the Founder and CEO of Liberty Tax Service , Co-Founder of Jackson Hewitt Tax Service and the IFA Entrepreneur of the Year 2006. Mr. Hewitt is the only individual to have founded two top 10 ranked franchise systems.
"The Educated Franchisee provides the small businessperson the tools to achieve "The American Dream" of successful ownership. Rick's approach makes it easy to take the journey toward wealth creation. A must read for any potential franchisee!"
- Jon Luther - Chairman and Chief Executive Officer of Dunkin Brands, Former President of Popeyes Chicken and Biscuits, Winner of the IMFA 2007 Gold Plate Award, Chain Leader's 2006 Leadership award and Nation's Restaurant News Golden Chain Award.
"From the psychology of success to financing alternatives - it is all here. Powerfully written in a no nonsense style. If The Educated Franchisee cannot get you there, no book will! Rick Bisio has coached thousands of people to wonderful life decisions - including me."
- Ford Kyes, ActionCOACH Firm franchisee owner and former CEO, St. Anthony's Health Care, St. Petersburg, Florida.
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