Joel Libava
( Me, in 2001 )
The small business world has evolved, and I’ve had to evolve with it. When I started out in 2001 (After becoming a victim of downsizing after being fired) my only role was matching prospective franchise owners with the right franchise business opportunities for them.
My late father, Jerry Libava, pressed me to join him in his franchise consulting firm. (International Franchise Development) After I deliberated for a couple of months, I came aboard. I had to put some of my own money in, and I learned a lot from him.
At the time, he was a member of one of the first nationwide franchise brokerages. Franchise matchmaking was a new business model when he started his firm in 1990. He was one of the early pioneers, and may have been the first person to do it in the Cleveland, Ohio area.
He felt at the time, that being part of a “group,” would offer him a few added benefits.
***************************************************************************
When I joined him, I became a member of the same group. The group had about 70 or so offices around the country. We had to pay for training, marketing, (a monthly fee) and we also paid a % of our finder’s fees to the president of the group. (Franchise companies pay folks like us a “finder’s fee” for the successful placement of a franchise candidate that we introduced them to)
Man, that sure sounds like a franchise, doesn’t it? According to my Dad, it was.
(It was never formally called a franchise, but right before I left, they converted to one. If they didn’t, they would have been in big trouble.)
Well like any franchise company, there were some problems, and some infighting. I could go on and on about them, but suffice to say, I was not happy about the way they were doing a lot of things, especially their marketing. (And I had no problem vocalizing my concerns!)
A couple of the franchisees ended up purchasing this franchise brokerage franchise in what I felt was an underhanded way, from the original owner, and that’s when I chose to go out on my own.
That turned out to be the best business decision I’ve ever made. (Yet)
Next, I describe the different things I do now, that I never thought I would do, when I started in 2001…
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.
