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.
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