One-Hour CNBC-TV Franchise Business Special
Like hundreds, if not thousands of other franchise industry folks, I sat back in my easy chair recently, and watched the CNBC TV special on the franchise industry. I felt that it was done pretty well.
I reached out to Darren Rovell (the reporter ) about a week before it aired, and he offered to send me some information to review, which I did.
I’m glad that a couple of franchisors who’ve had some “issues“ were mentioned in this TV special. Cold Stone Creamery, and Camp Bow-Wow were featured. As much as the producers of the special, (and in the case of Camp Bow-Wow, the CEO) tried to come up with explanations for high failure rates and still unopened franchise locations, the real reason for those two problems was missed;
Both franchise systems grew too fast. Simple. Done.
My rating for CNBC’s special (using a 1-10 scale, with 10 being the highest) is a 7.
Good job, Darren! Now, go see my video review, in which I bring something up that’s really important for prospective franchise buyers to know…
My video review;
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
Here’s a snippet of my favorite part of the CNBC special-Five Guys Burgers And Fries!