0816_TOEFL-Test-and-Score-Manual-1997

Money Matters ● 57
But operating a franchise is not for everyone. A franchise provides
people training and a firm structure for running a business. It’s not recommend
for people who prefer to do their own thing.
Here are some tips from the IFA to help you do your homework:
• Meet with the franchiser; get to know key players.
• Consult any and all advisers who can help you make a decision.
• Ask questions. No question is too trivial.
• Compare other franchise systems in the same field.
• Make sure you’ll be comfortable doing what the business model
requires.
• Read and understand the Uniform Franchise Offering Circular, and
know all the details and terms of your contract.
• Check the references of the franchise’s officers and managers.
• Research, research, research. The more you know, the better your
decision is likely to be.
Contact the International Franchise Association at (202) 628-8000 or
visit www.franchise.org.
GREAT
Franchise Your Business Concept
Maybe you’ve thought about franchising your business?
IDEA
Even if your business is wildly successful, it may
not work well as a franchise. For the inside scoop, I turned to Rammy
Harwood, a successful entrepreneur who took his first venture, Cosi, a
chain of 80 popular sandwich and coffee bars, public in 2000. He went back
to business school for an MBA and, after graduating, launched Kidville, a
franchise with about 35 outlets in the United States and abroad.
Harwood said everything changed when his partner, Andy Stenzler,
and his wife, Shari, had a baby. When Kylie was six months old, Shari took
her to a music class for babies. The class met in the dirty basement of a Fred
Astaire dance studio. She was so upset over the grungy location, she told
Andy, ‘You have no idea what I just went through.’ ”