Franchise Ownership Rocks. Usually...

Posted by franpro under Franchises
From http://www.thefranchiseking.com 4117 days ago
Made Hot by: ObjectOriented on August 15, 2013 7:51 am

Maybe owning a franchise could work for you. Maybe it’s one of the silliest ideas you've heard in a long, long time. The business model rocks. But, is it for you? Find out, here.

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Comments

Written by AngelBiz
4112 days ago

Joel - Love the title, particularly the "Usually" part. Yes, franchise provides an easy route for many first time entrepreneurs. It helps them by taking care of may aspects of running the business that would otherwise overwhelm them.

But it is not for someone who is a "free bird" and doesn't like to / want to follow the rules. I have seen many of them feel miserable by the constraints they have to work with.

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Written by tiroberts
4112 days ago

Great insights, AngelBiz.

I'm one that wouldn't do well with franchise ownership. I'm a free bird and I love doing my own thing, setting my own schedule and the like.

Ti

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Written by HeatherStone
4116 days ago

Hi Joel,

Here's what I'm wondering. Are there a lot of folks who would be better off starting their own business rather than buying a franchise and if you had to pick one key indication that a person fits into that first category what would it be? I'm sure that one of the things that makes some people gravitate towards franchises is that it seems intellectually like it's a better choice to go with an established business model than to strike out on your own. Love if you could respond to this one on the BizSugar community so all our members could get the benefit.

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Written by franpro
4112 days ago

Heather,

On the inside flap of my franchise book, I say the following:

"Franchise ownership is not for everybody. As a matter of fact, it's not for most people."

While most of my fellow franchise industry professionals aren't fond of that statement, it's true. Not only is it risky-if the buying and research process isn't done correctly, but it's hard work. 12-15 hour days. 6-7 days a week. More stress than having a job.

Those are the reasons that franchise ownership is not for most people. And, guess what; most people don't like risk. Or, working all the time. (At first, anyway.)

Business ownership, whether it's a franchise business or not, is not for most people. It takes a special breed to make it through the early stages of business ownership...to see it through until hopefully one day there's a payoff.

The Franchise King®

Joel Libava

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