You don’t have to be in the franchise business to admire Dave Thomas, CEO of Wendy’s. Many of us who’ve seen him on TV promoting his 99 cent value menu are impressed by his down-to-earth charm. But if you want to open a franchise — or are already in the industry — chances are you’d especially like to benefit from his wisdom.

Thomas has collaborated with Michael Seid, a leading expert on franchising, on a book that explains the keys to success in any type of franchise. Franchising For Dummies has something for everyone, from prospective franchisees to seasoned franchisors.

Drawing on their years of experience, Thomas and Seid explain in friendly, straightforward language how to choose and establish a successful franchise, hire and fire employees, attract and keep customers, make smart growth choices, and even become a franchisor yourself.

Among the advice dispensed is:
• Avoid franchise brokers. Brokers are typically paid by franchisors to find franchisees and close the deal. Why would you use a third party to find someone you intend to spend the next 10 or 20 years of your life with — especially if the broker’s fee is paid by the franchisor?
• Good advertising pays off. Since 1989, Dave Thomas has been featured in 700+ commercials — and sales at the average Wendy’s restaurant are up 30 percent! Wendy’s franchisees are taking notice: in 1999, they voted to allocate 2.5 percent of their gross sales to national campaigns and 1.5 percent to local/regional marketing.
• If you are the first franchisee in a new chain, negotiate a walk-away clause in your franchise agreement. This will give you the option to leave before the franchise term is finished if the franchisor can’t grow the franchise system. (Remember, you may be getting in on the ground floor of a great opportunity or joining the crew of the Andrea Doria!)

The book can be a valuable resource for anyone who makes a living from or is thinking of entering the world of the franchised business. It’s published by IDG Books Worldwide, Inc., and retails for $19.99.