My book, Become a Franchise Owner! is out!
And to think that it all started in January of this year, when I received an email from an editor at John Wiley & Sons. (a book publisher out of New Joysey) In the email, the editor, (Lauren) thanked me for writing this review of David Siteman Garland’s small business marketing book. Then she wrote this;
“The review brought me to your franchise website/blog; you have great ideas and a solid position. I would love to talk to you about possible publishing opportunities. Your message would indeed resonate with a wide and eager audience of budding entrepreneurs.”
That’s how I got a book deal. And 11 months later, it’s on store shelves. It’s also available to download as an ebook, or read on Amazon’s Kindle, even an iPad
“Joel takes the guesswork out of buying a franchise by setting the record straight in an easy-to-understand way. The book takes the reader on a journey of discovery..about one’s self, about franchising, and whether they are meant for each other.” — Barbara Weltman, Author, Host of Build Your Business Radio
Why I wrote the book
I wrote this book on franchise ownership because;
It’s important for you to know that I don’t drink from the same glass as most of the people in my industry. The franchise industry has been serving the same flavor of Kool Aid for years. (Way too many years, as far as I’m concerned)
That’s because according to most of my industry’s brethren, everything’s always sunny in franchising. You don’t believe me? Just look at these all-too-common phrases that are found Franchiseland;
1. “Franchises are turnkey investments.”
2. “Owning a franchise allows you to go into business for yourself, but not by yourself.”
Mostly true. Unless you ended up choosing a franchise that had a great salesperson. Who told you, (when you were doing your research) that franchisee support from headquarters was top-rate. And you believed him.
I’m not suggesting that franchise salespeople—franchise development representatives, are liars. What I am suggesting is that most franchise buyer’s don’t have a clue on how to do proper franchise research. It’s not that franchise buyers are stupid. On the contrary, most of the people that I work with in a franchise advisory capacity are really smart. But, intelligence and experience don’t necessarily go hand in hand. That’s right; even smart people have to be taught how to do stuff. (From people who’ve already done it)
In my book, I teach would-be franchise owners how to keep their franchise salespeople honest. Or, put in a different way, I teach franchise buyers how to get their answers from the only people that matter; the current and former franchisees. There’s really an art to getting the exact information you need. If you’re thinking of buying a franchise, I’ll turn you into an unstoppable franchise fact-gathering machine!
3. ”A U.S. Department of Commerce study conducted from 1971 to 1997 showed that during that time less than 5% of franchise businesses were closed each year.”
That statistic is nowhere to be found on the official US Department of Commerce website. And yet, I was able to find that quote stating that exact statistic by doing a simple Google search in less than a minute; it turned up on a current franchise broker’s website. Statistics like the one above (on the supposed low franchise failure rates in franchising) were at one time found on so many franchise websites, and in so many franchise brochures, that the International Franchise Association was forced to issue a statement to it’s members;
A message from International Franchise Association
President Matthew Shay
May 2, 2005
It has come to our attention that some IFA-member companies may be providing information about franchising that is long out of date and no longer presents an accurate picture of the sector.
Of particular concern is information claiming that the success rate of franchised establishments is much greater than that of independent small businesses.
Many years ago, the U.S. Department of Commerce conducted studies about franchising which presented such statistics. That information is no longer valid. The agency stopped conducting such studies in 1987.
We strongly urge you to remove any information from your Web site and published materials that make such a claim. The use of such data, in the absence of current research, could mislead prospective franchisees who are attempting to conduct responsible investigations. Read the entire letter
I love franchising. I love it’s potential. For the right person, in the right situation, with enough money…. with the right personality traits needed for a mostly-rigid business system, it’s a great way to be the boss. (Of course, one has to choose the right franchise business) If everything lines up nicely, The American Dream can be within reach for the owner of a franchise business.
It’s just that most people don’t know how to carefully select and properly research a franchise. But, I do.
“You can always count on Joel Libava to tell it like it is. He talks with candor and well-gained experience about the skills that are absolutely needed to succeed as a franchise owner. If you’re in the market for a franchise business, this book is the place to start.” — Flo Schell, Founder, Franchise Coaching Systems
I’ve seen some great successes in franchising, and I’d like to help as many people as possible make it happen for themselves, too.
I want to create a new breed of super-successful franchisees.
My book provides the roadmap for those interested in doing this right.
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