womenpowered october 2017 webinar
TRANSCRIPT
Presented by: Barb Moran Goodrich
• What is Franchising
• Franchising and the US Economy
• Automotive Stats
• Is Franchising a Path in Automotive
• Franchising Advantages
• Evaluating Franchises
• Resources with Evaluations
• Selecting a Franchise
• Attributes a Franchisor is Looking for
Opportunities In Franchising
Provided some of the information on following slides
• Franchising is a business strategy/method of
distributing products and/or services.
• Franchising is a method of creating growth in
market share.
• The franchisor lends the use of their
trademark/trade name to the franchisee.
• The franchisee is trained and supported within
the proven business system.
What Is Franchising
• Over 780,000 franchise
businesses across 300 business
lines
• Generate nearly 9.1 million direct
jobs and almost 9 million indirect
• Responsible for $890 billion of
economic output for the US
economy
• GDP up 5.1% from 2016
• Output up 5.3% from 2016
• Establishments up 1.5% from 2016
Franchising And The US Economy
Data prepared by IHS Market Economics, for the International Franchise
Association, Franchise Education and Research Foundation, August, 2017.
Automotive Industry Stats
• Automotive franchises impact on GDP is 6.5%
• Automotive franchises impact on jobs is 2.5%
• Between 2010 and 2013 46.15% of automotive franchise systems
had a positive outlet growth
• Automotive franchises estimated to make up 44 billion in the
aftermarket segment
• Estimate growth rate of 3.4% through 2018
• Higher success rate
Is Franchising A Path In Automotive
Is Franchising A Path In Automotive
Franchising Advantages
• In business for yourself, but not by yourself
• In many cases, no previous experience
required
• Affiliate with a brand name
• Become part of a proven business system
• Receive on-going training
• Support from marketing to operations
• Access to lower cost products and equipment
Evaluating A Franchise
• Conduct market research and compare the
competition
• Evaluate the strength of the franchisor
• Call existing and former franchisees
• Hire a lawyer and/or accountant who
specializes in franchising
• Read the Disclosure Document and consult an
attorney before signing any documents
Resources With Evaluating
• Website that offer information on franchising
IFA www.franchise.org
Franchise Update www.franchising.com
Franchise Money Maker
www.franchisemoneymaker.com
Franchise King www.thefranchiseking.com
Franchise Direct http://www.franchisedirect.com/blog/
• Brokers such as The Entrepreneur Source
FCC
Franchoice
Frannet
Selecting A Franchise
Purchasing a franchise is like any other
investment -it comes with risk. Look at:
• Demand
• Competition
• Your ability to operate the business
• Name Recognition
• Training and Support Services
• Franchisor Experience
• Growth
Attributes A Franchisor Looks For
• Individual has done their homework and
understands the concept
• Has the means to obtain financial capital
• Is eager to be taught and can train others
• Has a history of success in dealing and
interacting with people
• Is motivated and has the desire to achieve
success
• Is willing to completely follow the system
A S
ha
me
les
s P
lug
In Closing
We Need More Women In The Automotive Aftermarket!