All About Franchising Fees, Franchise Brokers, And Names That Kind of Stick

What?

You’re probably wondering why I’ve gathered you here today….

Actually, you’re probably wondering what this short post is going to be about; I would be too, if I was an avid and super-loyal reader of this franchise business blog.

Well if you aren’t, please subscribe; it takes 3.5 seconds. Then look in your email box for a permission link. Thanks

I participated in Melinda Emerson’s famous, well-attended, and pretty darn amazing Small Biz Chat last night. Melinda and I knew each other, (and knew of each other) through our multiple and mutual small business connections. I got to meet her before an event that both of us were speakers at, in New York City. To say we hit it off, would be a massive understatement. She’s hilarious, and like me, is not fearful of putting things out there that just need to be said-or written about.

For instance, I’ll probably start to get a little bit of heat from the franchise brokerage group that my late father and I were with. (I still have several people that I consider friends that are franchisees with them.) That’s because of a post I wrote this week. In it, I challenged one of their California franchisee’s statements, (which was quoted in a news story) concerning franchise business success rates.

I first responded to this franchisee’s bogus 90% statistic with a comment, which I left under the franchise article;
“That 90% success rate is a very old, and very untrue statistic. I can’t believe that franchise brokers and franchise consultants are still using this figure.”

Someone (probably from the franchise brokerage) responded to my comment, and a little bit of unpleasantness ensued. Look

The powers that be at this franchise brokerage obviously felt that it was some type of personal attack on them. But, it wasn’t. I don’t care if it was a broker from their organization that put out that almost decades old, (and since unproven) statistic, or if it was a broker from one of their competitors. If someone from Franchoice, The Entrepreneurs Source, Franchise Alliance…heck, even if it was a broker from the franchise brokerage group that just sent me a check to be a sponsor on my becomeafranchiseowner.biz website, I’d add my two cents.

That’s because it’s not about them; it’s about thousands of prospective franchise owners who are nervous as hell. Our economy has been in lousy shape for a really long time–too long. Millions of people, and we all know several of them–are unemployed. Lots of really talented people can’t find jobs. And the ones who’ve been out of work for 9 months…a year, are starting to think about other alternatives. For some, becoming the owner of a business is starting to appear as a blip on their radar screens.

While owning a business isn’t the answer for everyone, it is for some. Franchise ownership, (on the surface, anyway) is one powerful option, in some of their eyes. And they need to read and bookmark this franchise article for future reference-before they even start looking. They also need to know the facts about franchise ownership. For the right person, at the right time in their lives, who have the right personal traits, and who have enough money, becoming the owner of a franchise business could be a fantastic choice, and a fantastic way to build something. 

But, they’re not going to have a 90% chance of success. There are ways to lower it though. And, the people that work with me, know exactly what they are.

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The Small Biz Chat on Franchise Ownership

In case you missed the very well attended #smallbizchat, last night, Melinda Emerson just put together a blog post featuring a lot of answers. Answers about franchise ownership. Answers about franchise financing. Answers about some of the trends in franchising. And an answer about a name that’s kind of stuck.

Go to this post featuring lots of Tips For Becoming a Franchise Owner.  Go on…

Train to Be a Franchise Broker