Erin Shafritz’s Post

International Franchise Association Outlines Core Practices and Suggests Changes to FDDs and Regulations The International Franchise Association has published a report in support of responsible franchising practices and lists core practices for doing so. The report, "Responsible Franchising: Policy Recommendations to Strengthen the Franchise Model," is a call to action for franchisors, franchisees and suppliers to operate transparently during the sales process and for policymakers to follow the report's suggestion in regulating franchise presales processes. The IFA report states that transparency and adherence to high standards during the sales process will protect the franchise business model and its owners, workers and customers. Read more about it via the link below 👇 https://bit.ly/44QAjYG . If you are ready to start your franchise journey, Call today for a free franchise consultation. 📩 Jeff@FranchiseGuidance.com 📲 248-506-1101 🌐 www.franchiseguidance.com . . #franchiselife #franchiseopportunities #franchiseowner #entrepreneurlife #financialfreedom #futureproofyourcareer

International Franchise Association Outlines Core Practices and Suggests Changes to FDDs and Regulations The International Franchise Association has published a report in support of responsible franchising practices and lists core practices for doing so. The report, "Responsible Franchising: Policy Recommendations to Strengthen the Franchise Model," is a call to action for franchisors, franchisees and suppliers to operate transparently during the sales process and for policymakers to follow the report's suggestion in regulating franchise presales processes. The IFA report states that transparency and adherence to high standards during the sales process will protect the franchise business model and its owners, workers and customers. Read more about it via the link below 👇 https://bit.ly/44QAjYG . If you are ready to start your franchise journey, Call today for a free franchise consultation. 📩 Jeff@FranchiseGuidance.com 📲 248-506-1101 🌐 www.franchiseguidance.com . . #franchiselife #franchiseopportunities #franchiseowner #entrepreneurlife #financialfreedom #futureproofyourcareer

To thrive in a franchise system, it's essential to understand not just what franchising entails, but also its purpose for both franchisees and franchisors. For franchisees, franchising offers a pathway to business ownership that is generally considered less risky than starting a business from scratch, often leading to a quicker return on investment. For franchisors, licensing their brand and business model helps increase brand visibility and grow market share. The power of franchising lies in numbers. For example: 〰 The more services offered under a single brand name, the greater the consumer awareness. 〰 Increased brand recognition makes it more likely that consumers will choose the brand when a need arises. 〰 As consumer reliance on the brand grows, so does market share. To consistently meet customer expectations, franchisors must maintain a uniform level of quality and service across all locations. They achieve this by ensuring that the same operating system is applied consistently, regardless of the location of the franchise. When every franchise location adheres to this system, customers can trust that they will receive the same high-quality experience, no matter where they go. Next: Who is in charge? #Franchising #AchieveYourGoals #FutureOfWork #BeYourOwnBoss

With the threat of new franchising regulations looming, the International Franchise Association is asking for IFA SUPPLIER MEMBERS to ensure the FTC receives an accurate picture of the current state of franchising! Responses are due October 10, 2024: https://lnkd.in/eft-tTj7 It's easy & should take 10 minutes max: ▶ Communicate the importance of the franchise model to your livelihood and ability to own a business. ▶ Explain your perspective on the threats to businesses within franchising like yours of new, one-size-fits-all regulation that does not account for the 300 different industries comprising the franchise model. ▶ Share how you collaborate and communicate with franchisors (for example, through franchise advisory councils and independent franchisee associations) to ensure the system evolves with the industry and market changes. Help us spread the world! Alex Porter, Daniel Mormino, MBA, CFE, CMHS®, Tom Portesy, Liane Caruso, CFE, Debra Vilchis, Jayson Pearl, CFE

📑 Franchise Disclosure Document (FDD): Understanding the Franchise Disclosure Document (FDD) is essential before diving into a franchise agreement. It is a roadmap to a successful franchise partnership. ❓ What is an FDD? It's a comprehensive legal document provided by the franchisor, detailing essential information about their business operations, financials, and the terms of the franchise relationship. ❓ Why is the FDD Important? The FDD is designed to protect the franchisee. It provides transparency and ensures the franchisee has all the needed information to make an informed decision about whether a particular franchise is the right fit. ❓ What's Included in the FDD? The FDD typically covers a wide range of topics, including: Franchisor's background and experience Litigation history and bankruptcy information Initial and ongoing fees Territory restrictions and exclusivity Training and support provided Financial performance representations (if any) Franchisee obligations and restrictions Termination and renewal terms The FDD is not just a legal document; it's a valuable resource that can empower the franchisee to make a confident and informed decision about their franchising future. #Franchising #FranchiseDisclosure #FDD #FranchisingKSA #FranchisingME

International Franchise Association leads the way in promoting responsible franchising with new policy recommendations to protect consumers and enhance transparency in the franchise industry. Read more about these vital recommendations shaping the future of franchising! #universityofdenver #linigercenter #twocampusesonedu #franchising #entrepreneurship

The quote "Tell the world what you intend to do, but first show it" resonates strongly in the world of franchising. It underscores the importance of demonstrating success through action before making bold claims. In franchising, this principle applies in several key ways: 1️⃣ Proving the Concept: Demonstrating that the business is profitable and sustainable in one or more locations is crucial. Potential franchisees are more likely to invest when they see tangible success rather than just promises. 2️⃣ Building Credibility: A strong track record—including satisfied franchisees, a solid brand reputation, and a well-operating system—builds trust. This credibility attracts more franchisees to invest in a well-functioning and reputable franchise system. 3️⃣ From the Franchisee’s Perspective: For those considering a franchise investment, it’s vital to research and observe the franchise's successful operations, instead of relying solely on what the franchisor claims, prospective franchisees should evaluate actual results, existing locations, and testimonials to make informed decisions. In both cases, the quote inspires a focus on results and tangible success as the foundation for long-term growth and expansion in franchising. #FranchisingSuccess #ProvenBusinessModel #FranchiseOpportunities #BuildCredibility #InvestSmart #SuccessfulFranchising #FranchiseAdvice

The franchise development process is essential for all potential franchisees, franchise partners, and franchise development companies. It encompasses strategic planning to increase brand awareness and lays the foundation for a thriving franchise system from conceptualization to full-scale operations. #BusinessSuccess #FranchiseOpportunity #BrandAwareness #EntrepreneurLife #BusinessGrowth #FranchiseJourney #IFATools #Franchising101 #BusinessPlanning #MarketingStrategy #LegalCompliance #FranchiseDevelopment

If you work in the franchise industry, whether you're a franchisor, franchisee, or third party supplier, are you part of the International Franchise Association(IFA)? I ask you this because the IFA is really the cornerstone for franchising, and the voice of authority in the franchising space. The IFA is the go-to leader for setting and influencing franchise policy, driving franchise education and bringing together all the key stakeholders in the franchising community, both here in the United States and abroad. There are so many benefits to joining the IFA as a company or as an individual. For example, I've been able to have the opportunity to speak at multiple conferences on franchising sales topics, as well as what's happening with digital the shift in franchise development with the introduction of AI. I've been able to do this, because I'm a member of the IFA and they've allowed me to participate and share my knowledge. Another benefit of being a member of the IFA is that you're able to do a lot of networking and meet folks that are within your industry and outside of your industry. Franchising is an industry that is large but also small, and you will find friendly competition, sharing ideas and best practices, because the mentality is that we are really stronger together. Let’s continue to strengthen our franchise community, both here and abroad, and ensure that we’re all equipped with the latest knowledge and resources to succeed! #FranchiseSuccess #IFA #FranchiseCommunity #FranchiseLeadership

What is a franchise? A franchise is a business model and growth strategy in which a franchisor grants a franchisee the right to use its brand name, trademarks, and business processes in exchange for an upfront franchise fee and royalties. Franchising allows individuals (franchisees) to operate their own businesses under an established brand with proven systems and support from the franchisor. This can include everything from restaurant chains and retail stores to service-oriented businesses like cleaning services or fitness centers. Franchise agreements typically outline the terms and conditions under which the franchisee operates, including fees, territory rights, training, and ongoing support. A franchise starts as a small business. That small business owner puts all the time and effort in growing that business. They put all the operations together, create all the processes and the systems, and they replicate it to make sure it can be done. They put together working capital to support infrastructure and cover legal costs to become a franchise. Then they put together an offering in the form of a franchise disclosure document and a franchise agreement that makes it available for other people to buy and implement in their local markets. Interested in owning a franchise? Let's chat about how franchising can help you start a business with support from a franchisor. #FranchiseSuccess #LongTermPartnership #BusinessTogether