Joel LibavaIs 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?
I told you so. Look
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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?
In an article in the most recent Entrepreneur magazine, some good tips were given for investigating new franchise concepts. Read
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About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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