The Franchise King®

Are Today’s Prospective Franchise Business Owner’s Interested In Being "Sold"?

Or, as I suspect, are today's franchise buyers interested in being educated?

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(This post may contain affiliate links. Please read my disclosure policy).


Classroom
Picture From PiotrusWikimedia Commons

A fellow Brain Trust member and I were having this discussion a couple of weeks ago. Nick Bibby, (a laid back, soft spoken franchise consultant like myself) have a few of things in common.

  • We're regularly accused of being rather cynical, and a tad negative on franchising
  • We aren't members of the "franchise association"
  • We like protecting prospective franchisees that are about to make huge mistakes
  • We can't be bought

Now, on to this short discussion we had…

Nick contacted me with a couple of questions concerning my opinions regarding the franchise brokerage industry. I think he was in agreement with me about the sheer number of new franchise brokers (and brokerage's) that are overtaking the number of actual franchise opportunities available to mankind. Read

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The next topic we discussed was the launching of Franchise Online University.com. It's not a "university," at all. (I just liked the name. It has rhythm. I don't.)

Franchise Online University.com is a web destination for would-be franchise owners to learn about what franchise ownership really entails. I've set it up so that after "students" take the Free "Introduction To Franchising" course, they'll really be able to decide if they should spend some of their valuable time selecting a few franchises to investigate.

Most folks think that selecting a franchise business or two to look into is an easy thing to do. The problem with that assumption is that there are over 3,000 different choices in the US.



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I can fix that

Then there's that darn franchise research. (Which almost nobody knows how to do)

I can fix that

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So, I told Nick about my "university." He thought that it was a good idea. He shared a discussion that he had with a rather outspoken franchise attorney who freely shares his distaste for franchisors on a franchise site that Nick and I used to comment and post on frequently.

This attorney told Nick that he's been trying to educate prospective franchisees for years, and that in general, they didn't want to get educated. They wanted to be sold. Sold.

I was super-surprised when I heard that. (Actually, I crawled into my little franchise corner, put my crown on, and smashed my head into the franchise wall for a couple of minutes.)

Crownwall1
Ouch.

After all, I just created what I thought was a masterpiece. I spent hours and hours designing three content-laden franchise courses for Franchise Online University.com. My courses were going to save lives! (Ok. They aren't going to save lives, but they may save folks some major future headaches $$.)

What should I do now? I was planning on using some of the proceeds from my courses for my daughter's education! (At a real university)

Can it be true? Is Nick's attorney friend right?

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joel libava

I'm The Franchise King®, Joel Libava. I help prospective franchise owners avoid bank account emptying mistakes.
For 23 years, I’ve been showing people how to make smart, informed decisions on franchises to buy, and I can help you, too!
P.S. I'm not a franchise consultant/broker.

Joel is Highly Principled
There are many people in the franchise business who claim to to be experts in the field. Unfortunately many of them lack both knowledge and integrity. Joel, however, is without question one of the most qualified and principled people I know, in or out of his industry."
- Greg Reynolds, Retired Outplacement Counselor
"Many receive advice, only the wise profit from it."
- Harper Lee