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In this episode, Michelle Rowan and Courtney Stillings discuss the complexities of franchising, focusing on the recent controversies surrounding Dickey's Barbecue. They explore the importance of transparency, the need for thorough research before investing in a franchise, and the critical role of support from franchisors. The conversation highlights the red flags potential franchisees should watch for, including deceptive practices and the significance of franchisee satisfaction. The hosts emphasize the value of data-driven decisions and the necessity of open communication between franchisees and franchisors to foster successful business relationships.

Read the NY Times piece on Dickey's Barbecue Franchise.

Host: Michelle Rowan, President and COO, Franchise Business Review.

Guest: Courtney Stillings, Vice President of Growth, Franchise Business Review

Takeaways

• Franchising requires thorough research and understanding.
• Transparency from franchisors is crucial for franchisee success.
• Franchisee satisfaction is a key indicator of a brand's health.
• Potential franchisees should be wary of red flags in relationships.
• Support from the corporate team is essential for overcoming challenges.
• Discounts should not be the sole reason for choosing a franchise.
• Data-driven decisions can guide franchise investments.
• Understanding the franchise disclosure document is vital.
• Franchisees should communicate openly about their experiences.
• The franchising community is built on relationships and trust.

Resources

• Find out your fundability with this calculator.
• Franchise Cost Breakdown: What you need to know.
• 10 Questions to Ask a Franchisor if you're considering investing.
• How to Evaluate ROI before investing in a franchise
• Understanding the FDD: Podcast Episode 9.

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Host: Michelle Rowan, President and COO of Franchise Business Review

Guest: Tom Spadea, Franchise Attorney of Spadea Lignana LLC

Episode Summary

In this insightful episode, Michelle Rowan and franchise attorney Tom Spadea delve into the intricacies of the Franchise Disclosure Document (FDD). They explore its critical components, such as litigation history, initial fees, and financial performance representations, offering valuable advice for prospective franchisees. Tom shares his journey into franchising, emphasizing the importance of understanding both the franchisor's and franchisee's roles. The conversation highlights the significance of due diligence, financial planning, and the relationship dynamics within franchising, providing listeners with essential guidance for making informed decisions in the franchise world.

Resources

• The Most Important Items in the Franchise Disclosure Document (FDD)
• What's In An FDD and What a Franchise Disclosure Document Won't Tell You
• Do You Need A Franchise Attorney? Here's Why and How To Hire One
• What Is A Franchise Agreement? Everything You Need To Know

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Visit FranchiseBusinessReview.com
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In this insightful episode, Michelle Rowan and Paul Pickett delve into the essential traits that define a successful franchisee. Drawing from decades of experience, Paul shares his expertise on the importance of aligning with a brand's culture, mission, and values. They discuss the critical role of emotional intelligence, team-building, and a growth mindset in achieving long-term success. Tune in to discover how focusing on customer relationships and community engagement can lead to thriving franchise ownership. Whether you're considering franchising or looking to enhance your current business, this episode offers valuable guidance and inspiration.

Resources

• 10 Steps to Franchise Ownership
• From Values to Victory: How Culture Drives Franchise Strength
• 10 Questions to Ask Franchisors
• Veteran Franchise Story: Marine Corps to Wild Birds Unlimited
• Wild Birds Unlimited Franchise Opportunity
• Top Franchises in Culture
• Video: 5 Key Steps to Owning a Franchise

Connect with Us:

Visit FranchiseBusinessReview.com
Follow us on Instagram, @franchisebusinessreview
Subscribe to our newsletter
Check us out on YouTube, @FranchiseBusinessReview
Connect with us on LinkedIn