November 27, 2014 9:15 pm
Published by Dr. John Hayes
Some prospective franchisees admit they do not know what to ask existing franchisees, and others say they know what they’d like to ask, but they don’t know how. Don’t let either scenario stop you from thoroughly investigating a franchise opportunity. Here are 4+ questions to ask, worded in a way... View Article
November 1, 2014 6:18 am
Published by Dr. John Hayes
“Your passion for your business is most critical because it will drive your eventual success.” So said an “expert”. Who comes up with this stuff? It reminds me of the “expert” who said that most businesses fail for lack of cash flow. Huh? Most businesses fail because the business operators had... View Article
October 23, 2014 5:16 am
Published by Dr. John Hayes
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 factual .... View Article
October 2, 2014 4:24 pm
Published by Dr. John Hayes
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?” Sometimes the prospective franchisee... View Article
October 1, 2014 4:08 pm
Published by Dr. John Hayes
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 wrong fit for... View Article