FRANNET Founder Passes Torch and Future to Long Time Associates
(Carlsbad, CA)--- FranNet, the oldest and most recognized franchise consulting organization in the world, has been sold by founder and Chairman Howard Bassuk to a partnership formed by several of FranNet's most experienced associates.
Founded in 1987, FranNet has offices in many key North American markets owned and managed by FranNet associates. FranNet provides no-cost guidance, information and support to individuals who are interested in purchasing a franchised business. FranNet's profiling process for these potential franchisees is considered the gold standard in the franchise community. FranNet's consultants are focused on serving clients in their market. FranNet hosts numerous informational seminars and educational programs throughout North America, which are designed to help people understand the risks and rewards of going into their own business, and methods for minimizing the risk.
Steve Rosen and Jack Armstrong, two of FranNet's most experienced associates, led the buyout. Rosen will serve as CEO on an interim basis. While he will no longer be involved in day-to-day FranNet operations, Bassuk will remain involved with FranNet in the areas of training, coaching, strategic planning and development of international markets.
"FranNet represents many of the best names in franchising, and under Howard's leadership, FranNet and the FranNet associates have gained a reputation for providing the best qualified candidates for franchise systems" Rosen said. "That tradition will carry forward and provides the basis for the future growth of FranNet".
FranNet has a network of more than 90 associates in North American and several international markets. FranNet is the only consulting organization in the industry with consultants in specified local markets. Meetings with clients are usually face-to-face and designed to offer individual guidance to purchasers of franchises.
Rosen's market includes southeastern Pennsylvania, southern New Jersey and Delaware while Armstrong’s market covers northern New Jersey and New York
"FranNet's entire network of consultants provides services that are unique in the franchise consulting industry." According to Armstrong, “we provide one-on-one assistance through the entire research and decision making process. For individuals who are considering buying a franchise, FranNet is a logical starting point.”
FranNet's success comes from helping individuals to not only learn about the many franchise choices available to them, but how to select the right one for them from among those choices. FranNet's proven strategy consists of five main steps:
- The specially designed FranNet questionnaire is among the most important tools in evaluating clients and matching them to the right concept. The questions are designed to elicit information about the candidate's strengths, skills, interests as well as their weaknesses and their personal values. It provides an insight into them and helps determine the type of business which best suits them.
- After reviewing the Questionnaire, a FranNet consultant will spend up to two hours with a client to develop a blueprint or "model" of the ideal business. Franchise concepts are then introduced that structurally and strategically meet the model, allowing the client to compare several businesses and determine how they compare to the model.
- When different franchise businesses have been identified that appear to fit the model, the FranNet consultant will recommend specific franchise companies which fit the model and discuss how to thoroughly investigate them in detail.
- The research phase might be the most important step of all. Clients are encouraged to conduct a complete and thorough investigation of all businesses they may be considering. FranNet consultants provide clients with sample questions and research techniques to use as a basis for their research.
- When a client has made a decision to purchase a franchise, FranNet consultants can help refer financing sources, franchise counsel, and other useful resources.
"The process of selecting and purchasing a franchise can be an overwhelming process for even the most prepared individual" Rosen said. "FranNet consultants eliminate the guesswork and confusion from what, for many individuals, is the most important decision of their life and helps reduce the risk in that decision".
FranNet - 2006 All rights reserved
FranNet: FranNet - The Franchise Connection - is an international
company that specializes in matching prospective business owners with
franchise companies suited to their professional and personal talents
and interests. This is accomplished by assessing an individual's requirements
for their ideal business and then searching for and recommending franchise
companies that meet those criteria.
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