"What's your opinion of Quiznos, Joel?" "Joel, do you think McDonald's is a good franchise?" "Joel, is a $60,000 franchise fee out of line?" "Should I invest in multi-units, Joel?" "Joel, do you think it's okay to buy a franchise right out of college?" I do have opinions on every question asked above. My Opinions I could have given my opinion about Quiznos here, but I didn't. On McDonald's, I've given my opinion-rather strongly, many times. $60,000 is pretty high
due diligence
You’ll Fail As A Franchise Owner If You Do What He Did
You will. You'll fail as the owner of a franchise business if you do what the person I'm about to introduce you to did. Ring Ring So, I'm noisily typing away at my keyboard when my Castle phone rings. It's a prospective franchise owner. Him: "Hello, I just found your website, The Franchise King.com, and wanted to know if you can help me. I'm almost ready to buy a franchise." Me: "Well, I'm glad you found me. How can I help?" Him: "My wife and I are looking at
Grab Your Luggage For Franchise Discovery Day
The day you travel to franchise headquarters - for a visit, is a big one. It's when the rubber will meet the road. It's when you'll experience a sense of excitement and at the same time, a sense of doom. Real fear will set in. Normal fear. So, are you ready to grab your luggage? Read on. Grab Your Luggage For Franchise Discovery Day You feel that your search for the right franchise is over. You've landed on an opportunity that feels like it's the
A Revolutionary New Way For New Franchise Owners To Relieve Their Stress
Are you thinking of becoming the owner of a franchise, someday? If so, this post contains a powerful tip that you can use as you pursue your dream. And, if you’re about to become a new franchise owner, you still have time to implement my idea before you open your doors. But, hurry. This is revolutionary. Why Will You Have Stress? You will experience high levels of stress, especially during the early stages of your new franchise business. I guarantee it! There are several
Investigating A Franchise: Act Like An Old College Friend To Get Real Answers
"Discoveries are often made by not following instructions, by going off the main road, by trying the untried." - Frank Tyge Sometimes, it’s important to approach things…important things, in a unique way. You should have an “angle.” I don’t mean that you should approach the franchisees that you’re calling and visiting as you do your research in a sinister way. I just want you to get creative so that you can really get to the heart of the matter. So you can get the answers you need to make
Franchise Ownership: Don’t Plan On Changing Anything
If you go into franchise ownership you really shouldn't plan on changing anything. It's the wrong mindset to have. Your frustration level will reach epic proportions in a short amount of time. In other words, don't buy a franchise if you see yourself as a turn-around artist. Think about it, if the franchise you purchased was in dire need of a consultant-type to come in and "turn things around," you probably would have never purchased it. Your goal should be to buy a franchise that's a
This Franchise Research Technique Could Land You In Jail
Start looking around for a bail bondsman. Once you find one, add their contact information to your Smartphone and set their 24-hour hotline number to speed dial #1. You’re going to want fast access to it so they can get you out of jail. It’s not like you’ll be able to get teleported out. Whatever It Takes Are you willing to do whatever it takes to insure that you have the best possible chance of success as a franchise owner? Are you sure? If so, keep
You Need To Find The Unhappy Franchisee
(A very unhappy franchisee) You need to find an unhappy franchisee. (More than one if possible) They’re the ones you need to talk to. I’m going to tell you why. Lowering Your Risk If you've been following along-reading and using my top 40 questions to ask current and former franchise owners, you should be proud of yourself. You’re obviously focused on increasing your chances of success as a franchise owner, and lowering your risk. Right? The next step in your
Are They Growing Their Franchises?
Most franchise owners want to. But, not all of them do. And, that’s okay. It’s True Just about everybody I've worked with over the years has told me that they've wanted to find a franchise that they can grow. Growing a franchise business can be done in a few different ways: Adding units-adding more locations Adding space Adding employees Adding territory Adding other franchise brands Franchise Growth In Theory In theory, and on paper, the idea of
Are Franchise Owners Making Enough Money?
You need answers. You have to have them before you take your checkbook out. You have to have them before you make what could be a 10-year commitment. You have to have them so you can be convinced that the franchise you’re really, really serious about is the right one for you. But, the answers you’re seeking…they won’t be found unless you know what questions to ask. What 40 questions to ask, actually. One more thing: You have to know how to ask them as well as when to ask
