Joel Libava
In my 25 years in franchising, I’ve written thousands of articles and have been interviewed hundreds of times. Both have included a lot of my franchise quotes.
That said, if you’re thinking about buying a franchise-or starting one, the quotes I’ve listed below cover many facets of franchising. My hope is that you’ll be inspired by them.
Now, some may surprise you.
Some may land wrong. And some of them may even be too blunt for you. It depends how open you are.
With those things in mind, I encourage you to read and fully digest my franchise quotes.
But above all, I encourage you to use my years of franchise experience-and my words, to help you get where you want to go.
Here Are My 25 Years of Franchise Quotes
Franchise Mindset & Expectations
“For the right person, who has the money and a commitment to work hard and follow a system, franchise ownership is worth a look.”
“The franchise business model is all about the system.”
“There’s this myth created by franchise marketing that franchises are businesses-in-a-box or turnkey businesses. They’re not. You’ll need to do the work.”
“Opening up a 7-Eleven is not entrepreneurship; it’s small-business ownership.”
“People who buy franchises shouldn’t think of themselves as pure entrepreneurs, and they better know that going in.”
“Franchise ownership is not passive business ownership.”
“Franchises don’t come with a money-back guarantee.”
“Owning a franchise is not for everyone. As a matter of fact, it’s not for most people who want to be their own boss“
“Excitement about a particular franchise opportunity is not a franchise-buying strategy.”
“Don’t buy a franchise because you’re sick of your job.”
“Franchise ownership is not a lottery ticket. It’s a business. And you need to work long, hard hours to make it a winner.”
“Franchise ownership is not about escaping a job. It’s about choosing a business you can own, successfully.”
“Before you buy a franchise, ‘see’ yourself owning it.”
“You need to be able to visualize your life inside the business you’re considering.”
“Being your own boss is rewarding, but nobody should confuse it with easy.”
The Franchise King’s Quotes About Franchise Research And Due Diligence
“Franchise fortune favors the informed.”
“Most people spend more time researching a vacation than they do researching a franchise.”
“Most franchise buyers fail because they never found out the truth — because they did limited due diligence.”
“The biggest franchise buying mistake isn’t choosing the wrong franchise. It’s choosing one before doing proper validation.”
“Existing franchisees have the real answers. Call and visit them.”
“Be thorough as you research franchises, and make sure you talk to both happy and unhappy franchisees.”
“Franchise research isn’t exciting. Losing money is even less exciting.”
“Calling three or four franchisees is barely scratching the surface. Call and talk with 15–20 of them.”
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“The more franchise validation calls you make, the smarter you become.”
“It all comes down to how well you’ve done your franchise research.”
“Good franchise decisions come from great research, not excitement.”
“Revenue alone tells you almost nothing. Know what the owner actually took home.”
“The best franchise buyers ask questions that make the other person uncomfortable.”
My Quotes on Franchise Buying Red Flags And Warning Signs
“I’ve been warning franchise buyers about bad systems for 25 years. The same red flags always show up. Over and over.”
“A pattern of franchisees suing the franchisor is a massive warning sign. People generally don’t walk away from profitable businesses.”
“High franchisee turnover in Item 20 is one of the most telling red flags in the entire FDD.”
“High-pressure sales tactics and confusing FDDs are where expensive mistakes begin.”
“The biggest franchise disasters happen when smart people rush.”
“A Franchise Fee discount is not a reason to buy a franchise.”
“Never rush this decision because you feel pressured or fear ‘missing out’ on a specific, desirable territory.”
“Hope isn’t a strategy when you’re about to drop $200,000 on a franchise opportunity.”
The Franchise King’s Quotes About The Franchise Sales Process
“Nobody involved in the sales process has a financial incentive to tell you what could go wrong.”
“Don’t let a franchise salesperson or a franchise broker do your thinking for you.”
“The truth about franchise ownership is usually found in conversations with franchisees, not sales presentations from brokers and salespeople.”
“Franchise consultants — brokers — coaches don’t actually work for you. They work for franchisors that pay them $25k–$30k every time someone like you buys the franchise they presented to you.”
“Most of today’s franchise brokers don’t have a franchising background. They purchased training on how to be a franchise broker.”
“Franchisors that take people who are not qualified are stupid. It’s going to bite them.”
“Don’t travel to franchise headquarters for a Discovery Day until your 80% sure you’re going to buy the franchise if everything looks good.”
“The problem isn’t that franchise buyers aren’t smart. It’s that they never got the full story.”
My Quotes About The Franchise Disclosure Document (FDD)
“Read the Franchise Disclosure Document. Then read it again.”
“The FDD is not the business. It’s ink on paper.” (A quote from my dad, Jerry Libava)
“The Franchise Disclosure Document is designed to protect the franchisor, not necessarily help you make a decision.”
“A ten-year franchise agreement deserves more than a ten-minute decision.”
“The self-assessment part of choosing a franchise isn’t a formality. It’s one of the most important parts of the entire process.”
“The franchisor is not your advocate in a dispute with your landlord. Read that again.”
The Franchise King’s Quotes on Legal & Financial Protection in Franchising
“Spending a few thousand dollars on a franchise attorney now could save you hundreds of thousands — or your entire investment — down the road. It’s not an expense. It’s insurance.”
“The right franchise with proper legal protection can be an excellent path to business ownership. The wrong franchise — or the right franchise with poor legal preparation — can be financially devastating.”
“A franchise is one of the biggest investments you’ll ever make. Treat it that way.”
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“The franchise you’re funding matters more than how you fund it. A great financing structure funding a mediocre franchise is still a bad investment.”
“The franchisee-franchisor relationship is a business marriage.”
Franchisee Success & Failure Quotes
“Most people who buy franchises have absolutely no idea what they’re doing. After all, how could they?”
“Most people looking at franchises tend to get overwhelmed fast.”
“Most franchisee failures are predictable.”
“Buying a franchise and thinking about buying a franchise are vastly different things.”
“If you’re not hesitant about buying a franchise, I’d worry.”
“It doesn’t matter if someone you know doesn’t like the franchise opportunity you’re thinking of buying. Do you like it and believe in it?”
“One of the most important things you can do is create good relationships with other franchisees.”
Quotes About The Franchise Industry
“Franchise opportunities are risky, too. Forget the statistics.”
“The winners in franchising won’t be the concepts with the prettiest websites or the slickest sales pitches. They’ll be the franchises built for today’s reality. Not yesterday’s fantasy.”
“The franchise industry needs less fluff and more facts.”
“The franchising industry doesn’t need more buyers. It needs better-informed buyers.”
“The franchise industry needs way more transparency.”
“I don’t know how much longer franchisors can continue to pay franchise brokers $30,000 commissions.”
“For some strange reason, the International Franchise Association never says anything negative about the economy when Republicans are in charge and the economy is lousy.“
“The International Franchise Association is a lobbying organization. Know that before you write them a several thousand dollar check to become a member.”
That’s all of them.
For now 🙂
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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