In a previous post of mine concerning Hot Franchises, and my recommendation to stay away from them, one particular franchise was mentioned as a possible "avoider." BusinessWeek Online just seconded my opinion…
The online version of the popular magazine, BusinessWeek, is telling a story of two business partners in Georgia, who obviously got caught up in the 2004-06 EBay madness, and purchased an iSold It franchise. Here are a couple of folks who could not turn a profit, no matter how hard they tried. The story.
They also mentioned two great Franchise Blogs that are pretty influential, and you should check them out:
BlueMauMau.org {A great blog focused on franchisees..one of the top franchise blogs in the world!}
FranchisePick.com {Focused on updates in franchising, and some awesome writing by Idea Farm‘s President, Sean Kelly}
Find Out Why Franchise Salespeople And Franchise Consultants DON'T Want You To Read This Powerful Franchise Research Guide!
The iSold franchise was number one on my "Don’t Buy Hot Franchises" hit list, as you can see in my post.
When I do Franchise Seminars around town, I always get asked this question;
"Joel, what is the Hottest Franchise"?
If I was an interested party, I would probably ask the same question. My reply is:
"Let’s start with you. I want to learn all I can about your background, your personality traits, your goals, and your investment comfort level. Then, I can guide you through a process that will include some nice choices that could be a great fit for you. This is what I do.
Remember..What is Hot now, usually gets cold.
