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Thursday , October 23, 2014

Your Mistakes Will Cost More Than You Think

When you start your own independent (non-franchised) business, your mistakes will be more costly than you imagined. In fact, your mistakes will probably put you out of business. I’m not writing this to scare you away from starting a business without a franchisor; I’m writing it because it’s fa[...]

Thursday , October 2, 2014

Are You Talking To The “Best” Or The “Worst” Franchisees?

Be careful about who you talk to when you interview franchisees. “After talking to your franchisees, I’ve decided this isn’t the right business for me.” As a former franchisor, I occasionally heard that statement from prospective franchisees, and I always asked, “Who did you talk to?” So[...]

Wednesday , October 1, 2014

Buy a franchise first, profile later, may mean a miserable franchise opportunity

Franchising is not for everyone, and unfortunately many franchisees don’t know that until they sign the franchise agreement, pay their money, and find themselves struggling for survival. Whether the struggle is their fault or the franchisor’s fault is a moot point. The fact is, they were the wro[...]

Friday , September 26, 2014

Does A “Mutually Beneficial Relationship” Appeal To You When Buying A Franchise?

How do you feel about a franchisor that promises you a “mutually beneficial relationship”? Does it make you feel (choose only one): Warm, Fuzzy & Can’t Wait To Invest Ambivalent: What’s the franchisor really promising? Turned Off Because It’s Not Good Enough If you [...]

Monday , September 22, 2014

Ask This: How Good Are The Franchisor’s Training Skills?

Training isn’t the only thing a franchisor does, but it is one of the most important things! A franchisor that fails to transfer knowledge to franchisees is a franchisor to avoid. Unfortunately, there are more of these franchisors than the public knows. Rarely will you discover a franchisor that d[...]