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):

If you selected “C”, I’m with you!

Franchise investments are expensive — many require your life savings, plus your signature on a note for money that you will owe even if your franchise fails, and your legally binding commitment to pay the franchisor even if your franchise falters or fails — so I’ll pass on anything that’s “mutually beneficial.” In fact, does that even sound like it’s “mutually beneficial”?

Instead, I want a franchisor who’s going to do everything possible to make my franchise business successful. Even more, I want a franchisor who has proven time after time that he or she knows how to turn franchisees into success stories, even in the worst of circumstances.

I know a franchisor will not and should not promise to make me a success, but I want the franchisor’s word for doing everything possible to help me. Beyond that, I want proof that the franchisor knows how to help me succeed. I don’t expect miracles — I’ll deliver on my end by meeting the franchisor’s requirements — but please, save the “mutually beneficial relationship” hype. That might attract neophyte franchise investors, but not me!

Am I asking for too much? You tell me.

Categorised in: Buy a Franchise, Questions to ask to buy a franchise

This post was written by Dr. John Hayes