Franchising can offer businesses a powerful new source of growth and improved financial performance. Now, Dr. Scott A. Shane helps businesses systematically assess the pros and cons of franchising, and offers proven best practices for building a successful system.
Unlike competitive books, From Ice Cream to the Internet focuses squarely on the strategic issues and challenges faced by franchisors. Shane answers key questions such as: What do the winners do differently? How does franchising affect your ability to compete with firms that don't? Shane then presents proven principles for every facet of franchising success: designing the system, recruiting, selecting, managing and supporting franchisees; establishing territories and pricing; managing expansion; and more.
Clear and engaging, this book brings together previously inaccessible research on a wide range of crucial issues, from establishing margins to navigating the legal and institutional challenges of franchising. It will be the definitive guide for every business leader responsible for evaluating, planning, implementing, or managing franchise relationships.
Is franchising right for your business?
Evaluate your industry, your competitive position, and your competencies
Building the foundation of a successful franchising system
Establish winning policies, support and assistance mechanisms, and more
Pursuing growth, without the risks and pitfalls
Define territories, price franchises, and plan expansion
Law, internal politics, and other hassles
Navigate the unique legal and political issues associated with franchising
Finding and nurturing the right franchisees
Recruit and select the franchisees most likely to succeed—and build "win-win" relationships with them
For businesses seeking new paths to growth, franchising offers immense promise—and unique risks and pitfalls. All too often, decisions about whether and how to franchise are made based on anecdotal or unrealistic information. This book brings together the field's best research, helping you to decide whether to franchise, to understand the key factors associated with long-term success, and to build systems that work for franchisor and franchisee alike.
Drawing on studies of hundreds of franchise systems in dozens of industries, Dr. Scott A. Shane identifies proven principles and techniques for the entire franchise system development process: defining products and services, planning support, establishing royalty rates and advertising programs, mapping territories, recruiting and managing franchisees, and much more.