Joel LibavaThere’s really only one way (legally) to get access to the super-secret system that a typical franchisor has invested hundreds of thousands of dollars and numerous hours into.
One way;
Pay The Franchise Fee.
It’s interesting; just about every time I start discussing “The Franchise Fee” in one of my franchise presentations, my specially-tuned ears pick up someone doing some serious muttering under their breath…
The Muttering;
“That’s where those franchise companies make all of their money. It’s crazy. Paying $30,000 to a franchise company….” Blah Blah Blah.
Actually, there’s normally not a lot of profit made from the franchise fees. It’s just one of the many myths that plague franchising.
My friend, Charles Internicola, a franchise attorney in New York, just wrote a post that explains exactly what the Franchise Fee covers. As a prospective franchise owner, it’s crucial for you to know what you’re paying for, and in the case of the Franchise fee, where your money is going.
About the Author
The Franchise King®, Joel Libava, is a leading franchise expert, author of "Become a Franchise Owner!" and "The Definitive Guide to Franchise Research." Featured in outlets like The New York Times, CNBC, and Franchise Direct, Joel’s no-nonsense approach as a trusted Franchise Ownership Advisor helps aspiring franchisees make smart, informed decisions in their journey to franchise ownership. He owns and operates this franchise blog.
Note: When you buy through links on this website, we may earn an affiliate commission.
