Say what you want, but these three reasons are behind your desire to buy a franchise: You want to belong to something that’s larger than you, i.e. a network of successful franchisees. It’s admirable. You want to be led by someone larger than you, i.e. a franchise coach, and other successful... View Article
“You don’t need to invest all that money to get into the pizza business,” the advisor told his client/friend. “You make the greatest pizza I’ve ever tasted. Far better than anything those franchises offer. You don’t need to pay them all that money upfront, and then — my God — you’ve... View Article
What happens if you buy a franchise and—God forbid—you fail and shut down the business? Are you legally obligated to succeed? You are if the franchise agreement says you are. What’s worse, you may be required to pay fees even after you’ve failed! What does the expectation of success mean? Franchisors... View Article
Franchisors in the United States are required by federal law to tell prospective franchisees how many franchises they sold and retained from year to year. That’s good information for anyone who wants to buy a franchise. But it’s not enough information to help you determine if the franchisees are operating... View Article
Years ago when I interviewed franchisees for Franchising: The Inside Story (published so long ago, I’m embarrassed to say, that it’s out of print!) I always asked them how they felt about taking risks. At the time, I thought franchisees were entrepreneurs and that entrepreneurs were risk takers. But I... View Article
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