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Course 2: "Acquiring your Franchise" is main course and while definitely healthy and well prepared, it is something you read because it is good for you, not because you like it. This course is made up of a discussion of another acronym, UFOC or Uniform Franchise Offering Circular. This is a federally mandated document outlining 23 precise ingredients that must go into this course of meal.
If you are purchasing a franchise, then this will always be main course and will always have these ingredients. Two attorneys walk you through preparation of franchise agreement, lease negotiation, incorporation, cash flow, banking, loans and business plans. You know you must finish this bland course, but yearn for some spicy condiments that just aren't available in this healthy, well-balanced meal.
Course 3: "Managing your Franchise" is a natural side dish discussing managing, motivating, hiring and firing of employees. The body of this dish is made up of more healthy requirements of market research, taxes, insurance, accounting, marketing and business management practices. This course is spiced a bit with fatherly advice of a franchisor who basically suggests that franchisees should respect their elders and be good kids and they will be rewarded with favoritism.
Altogether I'd have this meal if only other choice were bland bread and water of a nine-to-five work-a-day routine, but what it all comes down to is that operating a franchise is serious business, that it takes money to make money, and that it will clearly be very hard work. There are benefits such as managing your own time, doing what you enjoy, scheduling your own vacations and making major decisions without a boss hovering over you.
This hearty meal will be very good for you if you've decided that franchising is career path you wish to follow. Nothing is left out of recipe and there will be plenty of good information to fill your financial plate. After you clean dishes and make your decisions you'll definitely want to go elsewhere for desert because Franchising 101 offers up only pragmatic, practical fare with no coffee or desert on menu. This is hard work without discussing any of rewards to tantalize you and only a sad tale of one unhappy franchisee to feed your appetite for possible self-fulfilling careers.
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