FOR IMMEDIATE RELEASE
CONTACT: Erika Sumner, PR by the Book, (281) 895-7190,
erika@prbythebook.com
Is Opening a Franchise for You? Find out with Street Smart
Franchising. Franchising represents more than 10% of the private
sector economy and 14% of the jobs
(CONNECTICUT, Sept. 14, 2006) If you’re looking to have your own
fast food franchise, here’s a typical scenario. You will have to
have $175,000 that isn’t borrowed, provide 40% of the funds
(also not borrowed) it takes to open the restaurant which can
range from $400,000 to $750,000, and find a profitable location.
Due to the complication of the franchise game, Joe Mathews, Don
DeBolt and Deb Percival pulled their expertise in their new
book, Street Smart Franchising (Entrepreneur Press, July 2006).
It does what other franchising books won’t-it reveals the
challenges within the franchise game using rare stories taken
straight from
the trenches.
In the U.S. alone, there are an estimated 2000 different
franchisors as well as more than 770,000 retail outlets. These
retail outlets employ over 8 million people, and account for
more than 1 trillion dollars in annual sales. Mathews, DeBolt
and Percival offer an in-depth look into
what happens during the investigation and ramp up of a franchise
business as well as “real world” tactics and strategies for
succeeding in franchising. They also demonstrate how humanity
impacts franchising. For instance, most entrepreneurs naturally
resist external controls and systems, meaning the people most
likely to purchase a franchise are least
likely to follow the system they just invested in.
What makes Street Smart Franchising most unique is the fact that
it offers “street smarts” as opposed to “book smarts.” Mathews
and DeBolt realize that what’s taught in the classroom doesn’t
always work in real life. Case studies can’t help a franchisee
when they awaken at 1 o’clock in the morning for the third
sleepless night in a row because they are consumed by the stress
of a start up business. However, a franchisee can pick up Street
Smart Franchising and discover high stress and loss of sleep is
normal and temporary in the start up stage of the life cycle of
their business as well as find successful strategies for
managing stress during this critical stage and how to
successfully navigate towards the next stage.
Joe Mathews has worked as a franchising manager for Subway,
Blimpie, Motophoto, and Entrepreneur Source. In 2002, Mathews
founded the Franchise Performance Group and became a consultant,
helping franchise companies excel in the business of
franchising. Mathews resides in Connecticut with his wife and
three children. He graduated with a Bachelor of Science in
Marketing from the University of Connecticut.
Don DeBolt is former president of the International Franchise
Association (IFA), one of the world’s oldest and largest trade
associations representing the franchise community. He has served
as a member of the Committee of 100 and the Public Affairs
Committee of the U.S. Chamber of Commerce; a member of the
Department of Commerce's Industry Sector Advisory Committee on
Wholesaling and Retailing for Trade Policy Matters; sat on the
board of directors of the Small Business Legislative Council and
the National Cooperative Bank's Retail Finance Corporation; and
was a member of the National Congress for Community Economic
Development Advisory Council.
Deb Percival works in franchise development and has an extensive
background in writing. Before joining the world of franchising
she worked in marketing for 20 years, owning her own public
relations firm for 12 of those years. Her clients have included
national and international
corporations and her writing has received numerous awards for
content,
clarity and originality.
For more information, check out
www.FranchisePerformanceGroup.com or
please contact Erika Sumner, PR by the Book, (281) 895-7190,
erika@prbythebook.com.
