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.
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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
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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