Buy A Franchise And Learn What NOT To Do

I’ve often said that you buy a franchise to learn what TO do, but franchise veteran Jim Tatem, speaking at the International Franchise Expo in Washington, DC, put another spin on things when he said, “You buy a franchise to learn what NOT to do.”

Excellent point.

And it reminded me of a cousin in Ohio who opened a pizza shop many years ago only to lose her investment because she didn’t know what NOT to do. She knew how to make a great pizza pie! And everyone loved her pizza. So what happened?

Unfortunately, she didn’t know NOT to advertise in the local newspaper to attract customers to her pizza shop. She invested heavily in the Sunday newspaper because it had the highest circulation and good readership. There’s nothing wrong with buying newspaper advertising, but that’s not the way to build repeat customers for a pizza shop. Most of the people who read the newspaper didn’t read my cousin’s ad, and most of those who did were too far away from the shop to patronize it, even if it was the world’s greatest pizza pie. 

There are much more effective ways to bring customers into a pizza shop and keep them coming back, but my cousin, unfortunately, did NOT know that. Had she invested in a pizza franchise she would have learned what NOT to do, along with what TO do. In her case, knowing what NOT to do would have saved her business.

Want to build a satisfying and profitable business? Franchising may be the right choice for you. A good franchisor will teach you what TO do as well as what NOT to do. 

John P. Hayes, Ph.D., author and speaker, has written the Franchise Pre-Investment Checklist to help you thoroughly research franchise opportunities. A 30-year franchise veteran who has owned franchises and was the CEO of a major franchise company, John is perfectly suited to help you with your franchise decisions. He offers a variety of free reports, teleconferences and seminars to help you decide if you should buy a franchise and if so, which franchise to buy. Subscribe to his free newsletter athttps://www.howtobuyafranchise.com

Categorised in: Buy a Franchise

This post was written by Dr. John Hayes