Joel Libava
And so it begins………
The scenario;
A fairly successful 49-year old, (and recently downsized) executive, decides to start gathering some basic information on franchise businesses. (After enduring 6 months of absolute dead-ends in his job search.)
He’s starting to get tired of competing with approximately 500,00 other out of work executives, for the few good jobs that are actually being offered. He says to himself; “I think I’d better look at all of my options.”
This brings him to the place that we’re at now, folks; the kitchen table conversation he’s about to have with his loving wife of 22 years…
The Husband: “Honey, I’m thinking of buying a franchise.”
The Wife: “Oh. Really? Which one?”
The Husband: “No idea, really. Just a franchise of some type.”
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The Wife: “So, like a Subway, or a McDonald’s?”
The Husband: “No..no..nothing like that. I think.”
The Wife: “Why are you thinking about this now?”
The Husband: “Because the US job market is just so damn strong, currently.”
The Wife: “You don’t have to have an attitude. Really, why a franchise, or for that matter, why a business?
The Husband: “Because the US job market is doing so well!”
The Wife: “Point taken. So, Mr. Trump, how much $$$ are we talking about, here?”
The Husband: “Well, I haven’t really gotten that far yet.”
The Wife: “Let me know when you do. I’m sure you understand that I’m a little nervous about this idea of yours.”
Next Steps
Before this prospective franchise owner jumps online, and starts looking for franchises at any one of a number of quality franchise directories, he should continue his conversation with his wife, and get some of the more uncomfortable issues out of the way.
It’s time for what I call, a “kitchen table” talk, and as you’ll see in this post over at the “Official Business Link To The US Government,” you’ll need to grab some supplies.
Please read my “Franchise Opportunity Exploration Starts At The Kitchen Table” post, over at SBA.gov. It will help you do this right.
(Of course, the scenario could be the same if the downsized executive happens to be a woman.)
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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