Joel LibavaIf you decide to become your own boss, and buy a franchise business, there's one thing you can do to increase your chances of franchise failure;
Buy emotionally. That's it. Instead of first learning what a franchise business really is, and taking a methodical, step by step approach to a major decision like this, just go ahead and buy a franchise because you like it. Hundreds of others have done just that. They're what's known as ex-franchise owners. They were high-risk franchise buyers.
Recently, I decided to develop a few online courses on franchising. I came up with what I think is a cutting-edge name of my little project;
Franchise Online University.com
But, I think I kind of blew it. The word "University" may be scaring people away.
Please make sure everyone you know who has lost their job, and is starting to say things like, "Maybe I should do my own thing," or "I think it's time for me to be the boss," or I'm going to look at some franchises," knows about Franchise Online University.com
You'll be helping them tremendously. There are ways to lower risk. Getting educated before jumping into something is about the strongest.
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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