Joel LibavaFirst off, I'm adding the word "today" to this post. It's important.
(In Part 5 of this 7-part series, I discussed beef. Beef is what franchise buyer's expect you to serve them. By "beef" I was referring to your brand. Branding. Read Part 5.)
I feel that today's franchise buyer wants to be told the truth. (Whether or not it's positive or negative) I'm not suggesting that franchisors have been telling lies. What I am suggesting is that in today's environment of business transparency, it's getting to be almost expected by future buyers of anything that they're going to hear both positives and negatives…from the companies themselves. Franchise company executives need to come up with superior and transparent fransparent ways to tell their stories, and train all their employees to do the same.
Are you willing to start becoming more fransparent? Or, will you wait for the "others" to do so?
Here's Part 7
About the Author
The Franchise King®, Joel Libava, is a leading franchise expert, author of "Become a Franchise Owner!" and "The Definitive Guide to Franchise Research." Featured in outlets like The New York Times, CNBC, and Franchise Direct, Joel’s no-nonsense approach as a trusted Franchise Ownership Advisor helps aspiring franchisees make smart, informed decisions in their journey to franchise ownership. He owns and operates this franchise blog.
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