Most people start thinking about becoming the owner of a franchise because circumstances force them to. 80% of the people I work with are unemployed. Sometimes it makes sense to pursue franchise opportunities instead of a new job…but not always.
Most people don’t know if they are even suited for a franchise business. As a matter of fact…
Most people actually aren’t a match for franchise ownership. Unfortunately, some of them find that out after they’ve written a ginormous check to a franchisor.
Most people expect franchise ownership to be a lower-risk proposition when compared to starting a business from scratch. That’s a false assumption.
Most of today’s franchise buyers do so because they’ve been seduced into thinking that they’re buying a “Turnkey” business or a “Business in a Box.” The marketing geniuses who came up with those words deserve kudos for their amazing copywriting skills. Unfortunately, none of them have ever owned a franchise business.
Most people start their search for franchise opportunities on Google or Bing. That’s the wrong way to do it, as you’ll see in this blog post.
Most people who look at franchise opportunities think that they should focus on ones that are closely related to their interests and hobbies. I disagree. When hobbies become work, they aren’t hobbies anymore.
Most people listen to their friends and colleagues way too much when they’re investigating franchise opportunities. I’ve found that 10 times out of 10, these “advisers” have never actually owned a franchise.
Most people don’t spend time studying franchise trends. If they did, they’d have a better chance of spotting opportunities before they become “hot.”
Most people confuse franchise ownership with entrepreneurship. While it’s true that there are some activities that franchisees do that is entrepreneurial in nature, the real entrepreneur is the person that created the franchise concept. Not everyone agrees as you’ll see in this article on American Express Open Forum.
Most people don’t understand why franchise brokers/consultants offer “Free franchise consultations and advice.” I’m thinking that it may have to do with the fact that their average commission (from the franchisors that they’re contracted with and that they’ll be encouraging you to get contacted by) is around $20,000.
Most people think that it’s a lot easier to get a small business loan for a franchise than it is for an independent start-up business. Years ago that was true, but it’s not anymore. But, there are ways to increase your chances of getting a loan approved.
Most people think that franchise agreements (contracts) are not negotiable, so they don’t consult with a franchise attorney. Today’s franchise attorneys can sometimes convince franchisors to change an item or two for their clients. It makes good business sense to invest some money with an attorney who’s well-versed in franchise law. You’ll sleep better at night if you do.
Most people will invest $200,000 or more in a franchise that they feel it would be almost impossible to fail in, but won’t invest a few hundred dollars to talk to a franchise industry insider to make sure that they haven’t missed anything in their research.
Most people believe that a low-cost home-based business is low-risk. Wrong. There’s risk.
Don’t be like most people.
Spend some time with me. There’s simply no substitute for straightforward, unbiased one-on-one advice.
I’m so confident that you’ll come away with valuable tips and advice that are specific to your unique situation-I offer you a 100% money-back guarantee:
If during the first 15 minutes of our one-hour phone or Skype call, you don’t feel that you’ll benefit tremendously from our time together, I’ll refund your money on-the-spot…while we’re on the phone.
“I was fortunate to find this website early in my process, and have read over 100 blog posts here. I also purchased Joel Libava’s one-hour franchise ownership advisory session. It was money well spent, and I now have a lot more wisdom and knowledge than most other prospective franchisees will ever have.”
Matt from Chicago
(Last name withheld by request-Matt’s still employed)
Don’t go on wondering if you did everything you could to lower your risk.
And, don’t be like most people.
“I want to thank you again for our conference call this evening. I appreciate your time, insight, and discussion about these franchise opportunities. It was just the thing I needed and I think my wife was relieved to know that you weren’t going to try to ‘sell’ us into a franchise. I tried to explain to her that you were an assistant to this process and you are there to help look at franchising in a different and practical way. I look forward to more discussions in the future about this franchising idea, should I find I’m able to get something off the ground.”
– Mark Cochran, New Haven, Connecticut
“We first met Joel after I left the corporate world over 10 years ago. We knew from the start that Joel was genuinely interested in helping us find an endeavor that would support the lifestyle we were looking for. We liked his process, and he was supportive and very professional. We are very happy with the success of our growing business, and often think back to those early, important discussions with Joel.”
– Margie Toombs, owner of Maid Brigade
“Joel not only knows his stuff — but far more important — he knows how to communicate what he knows to the people he coaches, teaches and works with.
A man with his depth of knowledge is a valuable thing but a man of his character and passion is even rarer. Joel genuinely wants others to be successful and achieve their dreams and if he can help them get there — he will.
If you have the good fortune to work with Joel, you’ll not only learn from his wide range and depth of experience but from his work ethic, his commitment to excellence and his ethical outlook on business and life.”
– Drew McLellan, Top Dog, McLellan Marketing Group