A recommended book for anyone wanting a pragmatic crash course on franchising — Street Smart Franchising by Joe Mathews, Don DeBolt, and Deb Percival. This book offers excellent advice on all aspects of building a successful franchised business. The authors do a fantastic job identifying and addressing key concerns shared by many first-time franchise owners. Here are three main takeaways from the book that are relevant for all small business owners:
- Always ensure that you are budgeting time for learning and skill development.
- No pain, no gain. Pain is a sign of progress, a sign of winning. Buying a franchise is no guarantee of success. It still requires hard work and dedication to build a profitable business—franchised or not.
- Plan your day and work your plan. Forget what happened yesterday.
Perkins Law is pleased to offer flat fee service packages for both franchisors and franchisees, so contact Eric Perkins at [email protected] or (804) 205-5162 with your franchising questions.