The best franchises are the ones that there is already a demand. If you have had a look at Filtafry’s literature already you might know that the service is one of which any food service establishment that runs a deep fryer can use. Have you looked around your local restaurants lately? It’s almost all fried foods, or predominately things cooked in cooking oil. The problem is, though, that oil degrades so quickly and normal staff simply cannot clean the oil, and the fryers well enough to make it last. As a FiltaFry technician, you would run the oil through a special micro filtration system while you vacuum clean the deep fryer. This typically takes many hours for a typical restaurant employee to handle, and often is not done well- many times causing accidents. However, as a Filtafry technician, it would take just about an hour for you to perform a service, often, working twice weekly to maintain some establishments.

Another thing that often concerns people who are looking into franchises is support. One of the biggest appeals to buying a franchise as opposed to starting up an independent business, is that you do have someone who already has a standard and a way of doing things- and usually the franchise is more than happy to help. Filtafry is no different. Offering a great deal of training, Filtafry makes sure that each and every franchisee is immersed in just what it takes not only to run a home office, learning things like advertising, sales and administration, but also, technical repairs and understanding. For two weeks, a new Filta franchisee is paired up with a Business Development Manager who will teach the franchisee to be able to run things smoothly, and also help them to build up a solid customer and client base. After that, the Regional Developer stands by to advise and to make sure that certain goals are met so that then, the franchisee has the best chances for success.

Most restaurants throw away the cooking oil as it degrades, and anyone who has ever worked in the food service industry can tell you, cooking oil goes fast. The reason is, tiny particles of carbon, food and other debris get into the oil, breaking down the fat itself, which not only causes poor tasting food, but more frequent need to change the oil out. The Filtafry system changes all of that for food service owners, making cleaner, better tasting oil last longer and save them money every cycle. Through a comprehensive fryer management program, as a FiltaFry franchise owner, you, or someone you hire will service restaurants and other food service establishments on a weekly basis, offering a micro-filtering of their cooking oil, making sure their thermostat is working correctly and at the right temperature, and vacuum cleaning the deep fryers, to a sparkling almost like new state. Each Filtafry territory roughly encompasses about 30 to 40 commercial customers a week and each service call takes right around an hour. This is definitely a beneficial service, and one that has a demand.

The second thing that most people find appealing about any franchise, is that you aren’t left to fend for yourself. Filtafry offers an extensive four part training program that involves day to day operations, administration and advertising concerns as well as sales and the technical aspects of the equipment a Filtafry franchisee will be using. In addition to this, there is also a minimum of two weeks where a new franchisee will work directly with a FiltaFry Business Development manager to make sure that each new franchise is off to a running start with a good, solid customer base. Once this is completed, then a Regional Developer will help to further educate and advise new franchisees until income is stable and goals are met. As you can see, Filtafry takes the success of its franchisees very seriously and there will be support each and every step of the way.

The What? In Filtafry is it is a really innovative way of managing the fryers that many restaurants and food service businesses use in their day to day operations. This not only prolongs the life of the oil, saving money in that area, but also, extends the life of the fryer itself by keeping it well maintained and in excellent running condition. Being able to continue to move through each and every business day is very important in any business, but in food service, often the down time needed for fryer maintenance is a major downfall. However, using the Filtafry service, what once was a dreaded and dangerous job for usually not adequately trained employees that took hours- becomes a twice weekly, sometimes hour long visit, at best. A Filtafry technician is well educated and trained so that the entire process from start to finish is not only as safe but as efficient as possible, leaving almost nothing for the staff to really have to do in that.

But there are many other benefits to using the service itself- for one thing, the environmental impact is strong. Better running equipment always equals out to less power to run them, as well as less waste for the owner of the establishment itself. Not having to dispose of the oil in those huge oil drums, is also less of an impact on the environment as cardboard and other material usage is down. However, that’s not really where Filta stops its environmentally friendly action. Many franchisees are actively involved in a number of local environmental groups, causes and fundraisers, all around the United States. The company itself began with an environmental image and continues to strive for a greener way of doing things. As you can see, the service itself actually reduces the wastes of fast food, sit down restaurants and basically any place that serves fried foods, but also, with the FiltaCool system, more loss and waste is avoided. Just one more way, FiltaFry and their franchisees are making a difference in food service, waste oil management and making the world a little bit greener for their efforts.

What Are the Benefits?

Buying a franchise offers some distinctive advantages when compared to independent business. These benefits give the franchise a much better chance of getting off on the right foot. The support offered to franchise owners can help the business succeed in a stiffly competitive market or a troubled economy.

Franchisors want their franchises to succeed. What is good for the individual franchises is good for the trademark company. As such, any franchisor with an eye on the future offers some key tools to help their franchisees along.

Franchisors will often offer support from the very onset their relationship with the franchisee, helping in selecting location and offering training to help enable the franchisee to effectively run his/her business. Many franchisors also offer basic training tools to assist the franchise owner in building a skilled and knowledgeable staff.

Almost all franchisors also offer marketing support. This often comes in the forms of broad-sweeping advertising campaigns aimed at targeted demographic groups across the entirety of the franchisor’s territory. Franchisors may also offer local marketing support and assist the franchise owner in the development of local promotional campaigns.

How to Pick a Winner

Not all franchisors offer the same level of support in all areas. When first researching a company to determine its suitability to your needs as a franchise owner it is important to evaluate just what degree of support the franchisor offers. It is then possible to weigh that against your own desires for autonomy and control of your business so that you can make an informed decision based on your own best interests.

You best source of information in making your decision is the Franchise Disclosure Document that the franchisor is legally obligated to provide to you. This document will spell out exactly how much support you can expect to receive. It will also tell you up front what will be required of you as a franchisee. The FDD will also shed light into any ongoing issues within the franchise that you might need to be aware of in making your decision.

Don’t rely solely on the information presented in the FDD when making your decision. It is wise to get the perspective of other franchise owners. Having first-hand accounts from established franchise owners may present you with benefits and problems that are not specifically touched upon in the legal document.

Forewarned is Forearmed

Above all, when undertaking the franchise selection process it is crucial to put in the effort to dig deep and research. A bit of legwork now can save you a lot of headache later. Once you’ve signed a contract, you are committed. The more knowledge you have going in, the better your chances of making a smart decision and signing on with a financial winner.

Tightening the Belt

First, it’s time to pull out the Profit and Loss statement and start going over expenses with a fine toothed comb.  Many of your expenses are unavoidable, but cutting out any unnecessary cost now is going to help you in the future.  Postpone some of those cosmetic repairs or that big redecoration project for the time being.  Instead, focus only on those repairs that are necessary for public safety and official standards.

From the Ground Up

Now it’s time to head back to the drawing board.  Rethink your marketing promotions, especially if you are well established in your community already.  Everyone loves the wacky arm-waving-inflatable-tube-guy on the roof, but keeping him at his antics isn’t cheap.  Now is the time to be conservative.  Start focusing on drawing attention to your more economically appealing “value menu”.  As long as your quality and service remain reliable the community will understand.

Also take a look at your wastes.  As a franchise owner you may not have much say in where your supplies come from, but it is entirely up to you to ensure that those supplies are put to good use.  When times are good, it’s easier to overlook or forgive sloppy work.  However, in a crunch, that one extra pickle making its way into the burgers,  those shake that gets dropped on the floor and the food that gets sent back because it just wasn’t prepared to the customer’s specification all adds up.  Now is the time to review with your employees and ensure that loss is minimized.

Focus on Quality

When cutting costs in marketing and cosmetic upgrades to your business, ensuring top-notch quality and customer service become more important than ever.  The dining experience your business provides becomes your biggest public draw.  Fortunately, for the savvy business owner and crack management staff, these standards of quality can be met or exceeded at minimal cost.

Focus on the work environment and improving employee morale.  A positive employee is going to be much more likely to provide a positive experience for the customer and will be more prone to following procedures that minimize waste and loss.  Don’t be afraid to discipline when necessary, but be sure to balance the dynamic with rewards for positive and proactive workmanship.

Flexibility

Above all, remain flexible.  If the old way of conducting your business is costing you more than it’s bringing in, then it’s time for a change.  Keep current with the community and it’s desires.  If you can, cater to the current trends in the community.  It doesn’t take a whole lot of nonfat decaf latte sales to justify a WiFi connection in your business.   With a willingness to adjust, you can create an environment and experience that will ensure that your loyal customer base will always make room in their budget for your establishment.

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Consistent Management

It is crucial that your management staff are all in agreement and understanding as to the standards expected, both in regards to quality of product, procedures and service. Though you may have a firm concept of how you want things run, it is impossible for you to be at the site at all hours. Therefore, your managers are an extension of your own presence at your restaurant and should function as such.

A number of problems can arise if there is a dissonance between the standards and managerial styles of your management staff. Under a lax manager, even the best of employees can succumb to the temptation to perform below expectations. It doesn’t take long for an employee to grasp which managers will make them toe the line and which will allow them to slack up on the job. The employees are paying attention to these cues and so should you.

Additionally, when even one manager is relaxed in their managerial style, and prone to overlooking inconsistencies or substandard work, it makes the rest of the management staff look overly strict in the eyes of the general staff. This can lead to tension in the workplace and create unnecessary friction between management and staff. A united front facilitates a more smoothly flowing operation of your restaurant.

Establishing a United Front

It is up to you, the owner, to make sure that your management staff is informed, up to speed and all on the same page as to what you expect from them and how you want your business run. If you don’t have a clear concept of how things should be run, then how can you expect them to? Therefore, it is in your best interest to have an exact and concise set of guidelines, in writing, that you can present to your management staff. Hold weekly or biweekly meetings with your managers to make sure that everyone is still on the same page. This will help you and your managers address issues as they arise, before they become significant problems.

Be Involved

You cannot expect your vision for running your business to be adhered to without your own active participation. Spend time on site whenever you can. Perform routine walkthroughs with your managers. Go through your checklists on by one so that you can see firsthand that the manager is on track with your overall vision.
A manager may think that he or she understands the program, but the only way to make sure there have been no misunderstandings is to actually walk through and see them in action. Being a proactive owner will not only set a positive example for you managers, but will allow you to gain a firsthand knowledge of the subtle intricacies of your restaurant so that you can make appropriate adjustments to your game plan.

Franchise ownership requires a great deal more commitment than other, more passive forms of investing such as real estate and the stock market.  Franchise ownership requires you to not only put your money on the line, but also your time, your energy and very possibly even your livelihood.  However, business ownership also offers the chance for a significantly greater return on this investment than any passive investment ever could.   This Return on Investment (or ROI), is your bottom line in deciding whether or not a franchise is right for you.  You should have a clear idea of what you expect to get back from your investment of time and money, and should do the research to find out if the franchise you are looking at is capable of meeting those expectations.

Setting Expectations

It is important to set some realistic goals and expectations for what you want to get from your business prior to even starting up the search for an appropriate franchisor.  Realistic, however, does not mean that you should settle for less than want.  Looking to see a 15-30% return on your investment over the first few years of operation is not going beyond the realm of possibility.

It is important to keep in mind that what you can expect from your business relies on more than just the company your sign your contract with.  It is true that there are certain reasonable expectations you can establish for any given franchise.  However, whether or not your business meets its full potential depends largely on your own skill in running the business.

The 3 Rs

From the very minute you decide to explore the possibility of franchise ownership it is important to learn and adhere to “the 3 Rs”.  These are, quite simply:  Research, Research and Research Some More.  If you end up with a lemon, chances are you have yourself to blame for not informing yourself to the best of your ability in the initial exploratory stages.

Where to Find Information

There is a wealth of information out there, but it is up to you to search it out.  There are numerous websites dedicated to collecting data on franchisors and most financial publications collect and distribute data as well.  Once you have a good idea what you are looking for, ask your potential franchisors for their Franchise Disclosure Documents.  These documents will help give you an overall view of each franchises strengths, weaknesses and earning potentials.

Statistics and figures can only tell you so much, though.  If you really want a good view of what you can expect from a franchise, talk to those who already own them.  There is no substitute for practical experience in the field.

Owning a franchise is an active investment, and a wise investor gets active from the very start.  Making an informed decision based on thorough research can make the difference between success and failure.  The keys to success are there, but it is up to you to decide to pick them up.

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There is a lot of research that goes into selecting, planning for, and operating a franchise.  From the moment you decide that you might like to invest in a franchise all the way through the very act of ultimately running your franchise, it pays to be as informed as possible.  Therefore it is crucial to start out on the right foot by digging in deep from the very start in the initial stage of selecting your franchising organization.  So where do you look for information?

Franchising Publications

There are a number of printed publications dedicated to franchising, and most financial publications offer insight into franchising (some even compiling franchising statistics and data in specific issues).  However, such publications are not always readily available.  If you are on the hunt for good information, but would like to save yourself a trip to the newsstand or public library, there is a wealth of information online.

A simple internet search for “how to find a franchise” or “choosing a franchise” will turn up a vast storehouse of information.  This is an excellent place to start if you aren’t quite sure what sort of franchise you might be interested in running.  It is beneficial to peruse as many sites as possible, paying specific attention to such information as average ROI, start-up costs, total investment costs and franchise fees.  This information can help you determine what franchises are best suited for your individual financial situation and needs.

Franchise Expos

Another excellent source of information, when searching out prospective franchises, are local franchise expos.  Expos will not expose you to the full range of possible franchises for your area in the same way that online research can.  However, there are some definite benefits to attending these expos.

Franchise expos give you the advantage of being able to have face-to-face discussions with franchisors who are actively seeking franchisees in your area.  This gives you an opportunity to ask your questions now so that you can decide if the franchising organization is worth pursuing further.  Such expos also give you the opportunity to go ahead and get your hands on the Franchise Disclosure Document for any given franchisor.  This is a crucially important document – one you’ll be wanting eventually, anyway – and the sooner you get it, the better off you will be.

What to Look For

Again, what you want to concern yourself with initially is collecting data on expected ROI, initial costs, long-term costs and franchising fees.  This will help you decide what franchises work best with your financial situation and what you are hoping to invest versus what you hope to get back.  You also want to look into franchises that will utilize knowledge and work experience that you already have.  Being diligent in your research from the start and forming a clear concept of what you want will go a long way toward ensuring the success of your business.

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Inherent Knowledge

Your franchisor wants your business to succeed.  Quite simply, if your business flourishes then so does theirs.  The better your sales, the more they make in royalties and associated fees from your franchise.  Beyond that, every successful franchise boosts their overall statistics and makes them more appealing to new investors.  Therefore, you can be fairly confident that the business strategy they present you (and to which you are contractually obligated to follow) is truly in your best interest.

The overview provided by your franchisor, as well as the specifics of procedure and policy are not spontaneous fabrications, obviously.  These strategies and guidelines have been carefully generated over the course of the trademark’s existence.  It comes from careful and diligent research conducted by the franchisor and it comes from real experience in the field from franchise owners just like you.  These alleviates the need for a trial-and-error approach on your end.  The trials have already been tried and the errors have already been made.  Again, it is in the franchisor’s best interest to provide you with the best tools available to help your business succeed, and it is in your best interest to follow the game plan provided for your business.

Personal Experience

Beyond the scope of the overall scheme provided by your franchisor, based on years of experience over a large number of franchises, comes the very real experience of your peers within the franchising organization.  Chances are, unless you have signed on with a very new label, that business owners in your area and parts beyond have been running the same business as you for years, sometimes even decades.  There is absolutely no substitute for practical, real-life experience and know-how.  However, you need not rely on your own experience when there is a large network of businessmen who have already grown successful franchises under the same business plan and guidelines as yourself.

However, it is highly unlikely that any of your fellow franchise owners are going to call you up and offer you advise on how to run your business.  It is up to you, as a proactive business owner, to seek out and build these connections.  In fact, it is highly advisable that you start building these relationships and gaining the insight of other owners in your own area (and similar locations) well before you ever commit to the franchisor.

The Difference is You

When you buy a franchise you are starting your business with a vast wealth of knowledge and experience, even if you have never owned or operated a business before.  However, it is up to you to flesh out that knowledge with real life experience.  No franchisor, no matter how well established and knowledgeable, can make your business succeed.  It all comes down to you and your determination to use the tools available to your advantage.

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By law, the franchisor is required to present this documentation written in “plain English” (i.e. without legal jargon or highly technical terms).  There are very clear guidelines as to what information must be included in the FDD.  As such, there are some very specific areas of the document you should acquaint yourself with as you decide if the franchising organization is the right one for you.

Company Information

The initial sections of the FDD are concerned with giving an overview of the franchising company.  In these sections you will find information about the company’s history and its internal structure.  The FDD will also disclose any litigations against the company, as well as any bankruptcies.  This information is definitely worth becoming familiar with as you decide if the company you are looking at is really suitable for your needs.
These section of the FDD can be very telling as to the way that the company operates internally, as well as how it relates with and resolves disputes with its franchisees.  Not all franchisors are created equally, and hitching your wagon to an unstable star can prove disastrous.  It is important not only to note how issues have been resolved, but to notice if there are patterns that might adversely affect you and your business.

Financial Disclosures

The law also stipulates that certain financial aspects of the franchisor/franchisee relationship be disclosed in the FDD.  It is important to understand that the franchisor is not obligated to provide information speculating what you might expect as a Return On Interest as a franchisee.  In fact, many companies refuse to do so and wisely so.  Giving concrete figures on expected ROI opens the company up to possible legal accountability should the franchise fail to live up to expectations.
What the company is required to disclose is information pertaining to the cost associated with becoming a franchisee.  This is information relating to liquid capital requirements (start-up costs), total investment requirements, franchise fees and the like.  There will also be financial information included showing the average earnings of franchises operating in different localities.  These figures should be viewed as speculative earning potentials and not as any sort of definitive statement of what you might expect to earn.

Understanding the FDD

Fully comprehending the information disclosed in a company’s FDD is an absolute necessity for any prospective franchisee.  There is a reason that companies are legal required to make this information available and accessible in plain speech.  This document is your key to deciding if a company is a good fit for you and your business goals prior to contractually tethering yourself to a franchising organization.  Read it, discuss it with your attorney, understand it and arm yourself with the knowledge necessary to make an informed financial decision about your investment.

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