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Franchise Development; Is Your Business Idea Really Franchise Material?


(This post may contain affiliate links. Please read my disclosure policy).

Is your independent business, or great business idea, ready for prime time?

Or, is it destined for re-runs, or as an also ran, or a has-been, like this franchise?

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I told you so. Look

It still amazes me. Just who does the market research for these new "concepts?"

Now, what if you're a prospective franchise owner, and you're looking for something that's hot? Most "Hot Franchises" happen to be pretty new.Which creates a conundrum for folks looking to research those Hot Franchise concepts;

Who can they validate the concept with? If there's only 4 franchisees in a new chain to call, and/or meet in person, is that enough of a sampling of owners to make a low-risk decision?

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In an article in the most recent Entrepreneur magazine, some good tips were given for investigating new franchise concepts. Read

Also, check out these online franchise courses, here. One's Free!

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I'm The Franchise King®, Joel Libava. I help prospective franchise owners avoid bank account emptying mistakes. For over 20 years, I’ve been helping people make smart, informed decisions on franchises to buy, and I can help you, too! #thefranchiseking
The fantastic thing about Joel is his neutrality. Because he is not getting an incentive fee, he will always give you the advice that you need (even if not what you necessarily want) and that's pretty unique these days. Thank you Joel!"
- Nic Church, France
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