Buying A Franchise Is Not Blue Sky
Simple Truths About Franchise Ownership
- Franchising, among other things, is about rules and standards.
- If you don’t like other people’s rules, you’ll be an unhappy franchisee.
- Franchising is NOT a guarantee of success. Franchise failure rates are high.
- A bad franchise purchase can ruin your life. Slow down and analyze facts not salesmanship.
- Most buyers don’t fully understand their franchise until after the fact. Due diligence is essential.
Know Your Resources
More than 90% of people referring to themselves as franchise consultants are sales agents or brokers who earn a commission if you buy a franchise they represent. 100% of people offering ‘free franchise consulting’ are brokers.
Be clear on the difference between a franchise broker/salesperson and an actual consultant.
We represent BUYERS not sellers. In 30 years, we’ve never sold a franchise or accepted a commission. Instead, we provide due diligence services to create fairness, level the playing field and provide for better decision making.
Common Mindsets Of Franchise Buyers
“I trust my instincts. I’ll know what’s best for me.” Instincts without knowledge are meaningless.
“I’ll verify what I’m told and find out the truth.” First time buyers don’t know what or how to verify.
“I’ve analyzed this franchise. I’m confident that it’s quality. It suits me and what I want to do.” This is a great starting point. If you can say this with conviction, you’re miles ahead of most.
Keys To Solving The Franchise Purchasing Puzzle
- Know that self-employment is right for you.
- Know that the franchise model is right for you.
- Reject franchising entirely if it doesn’t feel right.
- Choose based upon true due diligence and proof of concept.
- Resist franchise selection based on enthusiasm and salesmanship.
Note: Many of these issues can be resolved with The Focus Program For Emerging Entrepreneurs
Read this informative exchange about free franchise consulting
Client Statements –
“I struggled with buying a franchise. I needed a mentor focused on my situation, not an opinion on what might be a good franchise to buy. Your process slowed everything down. I got to know myself as an entrepreneur and create a logical, comfortable plan for making decisions. In a short period of time I replaced confusion with confidence, and knew my direction. I’ll continue to reap the benefits of what I learned through this process. I’d definitely do it all over again.” Randy R. – Texas
“It really was a fascinating discussion of the opportunity I was considering. Your fee may go down as one of the best investments I ever made. Anyway, I’m doing a lot of thinking this morning about my future. I’ll be calling you every month for the rest of my life if each time I can save $250K!” Ira B. – New York