This week's franchise business advice is for would-be franchise owners;
Don't assume you know what being a franchise owner entails. Terms like "turn-key business," and "business in a box" have been used to describe a franchise business. For the right person, a franchise business can be a wonderful thing. Freedom from the bondage of corporate employment, and a real chance to build some real equity in something, top off the list.
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Finding out too late that you were way too entrepreneurial for the system-oriented business model of franchising , and losing your life savings, are two of the potential drawbacks of franchise business ownership.