🕒: Five minutes
Researching the industry is a crucial step to take before committing to a franchise. Arming yourself with the correct information and tips from industry experts will allow you to make the best decision possible when deciding where to invest your time, energy and resources. We’ve put together a list of the top ten books you should read when thinking about franchising, ranging from classics to more recently published titles.
If you are considering buying a franchise (or if you’re thinking of franchising your own business) these books are a terrific way to get started on your franchise journey!
1. Franchising for Dummies by Dave Thomas and Michael Seid (2000)
Like all of the other books in the Dummies series, Franchising for Dummies presumes that its reader has zero knowledge about the franchise industry and so takes things back to basics. Franchising for Dummies also has the benefit of being co-written by Wendy’s founder Dave Thomas, who started one of the biggest fast food franchises in the United States. Overall, Franchising for Dummies provides a very helpful, concise breakdown of the franchising process.
2. Brick and Mortar Franchise Success by Carolyn Miller (2017)
Carolyn Miller got her start in franchising with McDonalds in 1984, and worked for the company for more than 14 years. Miller went on to found the National Franchise Institute in 2015 and her recent book offers a fascinating insight into her lengthy career in the franchise industry. Miller provides excellent advice about how to avoid spending large amounts on fixing problems that could have easily been avoided, something she witnessed all too often in franchising. Her most prominent piece of advice? "DO NOT sign a lease without reading this book!"
3. Franchising Exposed: A Definitive Guide by Chris Gibson (2012)
Whether you are considering buying a franchise or franchising your business, this book explains how to make the right decisions. It provides essential advice for franchisees and franchisors, allowing both sides to understand how to make the most of a franchise partnership. Chris Gibson has been at the forefront of the global franchise industry for over 10 years; there isn’t anything he doesn’t know about operating a successful franchise business, or what those thinking about buying a franchise should consider.
4. The Franchise Rules: How to Find a Great Franchise That Fits Your Goals, Skills and Budget by Michael Martuza (2014)
Michael Martuza has spent most of his career working in franchising-related sectors. The Franchise Rules contains guidelines Martuza compiled throughout his career to help people find the perfect franchise 'fit' for them. Franchising is perfect for those who want to be in control of their future and get on the road to financial independence, and The Franchise Rules helps people on their way to achieving this goal.
5. Franchising Demystified: The Definitive Franchise Handbook by Wayne Maillet (2014)
As a leading franchise consultant with almost 30 years of experience under his belt, Wayne Maillet is certainly qualified to demystify the franchising process. His book takes a look at the dynamics of the franchisor-franchisee relationship and provides newcomers with the tools they need to evaluate the right franchise opportunity for them, maximising their return on investment.
6. The Franchise MBA: Mastering the Four Essential Steps to Owning a Franchise by Nick Neonakis (2013)
The Franchise MBA offers comprehensive and valuable advice on choosing the right franchise for you from Nick Neonakis, a business veteran. Neonakis spent over a decade at a senior executive level in the franchise industry and his knowledge is broken down into three sections – 'The Introspective Self', 'The Franchisor', 'The Franchisees' and 'Legal and Financial' – to assist people in making the best decision they can.
7. Become a Franchise Owner! The Start-Up Guide to Lowering Risk, Making Money and Owning What You Do by Joel Libava (2011)
Joel Libava's Become a Franchise Owner advises reader on how to tailor their search for the perfect franchise opportunity. The book includes a self-evaluation quiz, 40 crucial questions to consider before investing in a franchise, interviews with franchisors and franchisees, and much more. As 'The Franchise King,' Libava certainly knows what he's talking about.
8. Franchising: How Both Sides Can Win by Andrew Emmerson and Chris Edger (2015)
Andrew Emmerson and Chris Edger, two industry insiders, collaborated on Franchising: How Both Sides Can Win to produce this informative and detailed guide. Including real-life case studies, tips from successful franchises such as Domino's Pizza, Dunkin' Donuts and Snappy Snaps, and comprehensive advice, this book contains key information to help both franchisors and franchisees succeed.
9. The Franchising Handbook: How to Choose, Start and Run a Successful Franchise (Teach Yourself) by Carl Reader (2016)
Carl Reader is a prominent member of the British Franchising Association and gives regular talks on how to achieve success in the franchise industry. Reader understands the specific requirements and quirks of the franchise industry and his book addresses the important distinctions between new business start ups and franchises. This is an essential read for anyone interested in breaking into the industry.
10. The Educated Franchisee by Rick Bisio (2009)
Bisio’s book has the rare combination of being a quick read while also containing lots of specific technical advice. The writing is clear and concise and the advice is extremely practical. The Educated Franchisee will help you figure out if franchising is right for you, and will also help you sort through all the research associated with the process. Divided into three separte parts, Bisio helps you decide if buying a franchise is right for you, gives you all the tools you need to evaluate whether the buying of a particular franchise will work for you and offers practical advice for franchise ownership.