Franchise Guru Harold Kestenbaum Meets Franchise Interviews

Running a single-unit business in a recession is challenging, so before you make the leap into a franchise model, be sure you have the trifecta of franchising success: a profitable concept, good management and the necessary capital. However, having a good concept is a make-or-breaker.

Harold Kestenbaum, a New York-based franchise attorney and author of So You Want To Franchise Your Business, shares his advice to potential businesses thinking about taking the dive into franchising where he provides tips about what to consider in the process. As a 35-year franchise veteran who has helped brands such as Sbarro and Five Guys evolve into what they are today, Kestenbaum focuses on helping both start-up and emerging franchisors implement best practices in legal services, but also serves as an elite advisor and confidant for franchisors.

"Some of the fastest growing franchise concepts today are ethnic restaurants, education and tutorial services, health and elder care or viable home-based, therefore requiring negligible overhead costs," said Kestenbaum. "If you are in one of these industries or another fast-growing business that might be ripe for franchising, having a really good concept is the key to finding success."