The Franchise King®

Would Nik Wallenda Be a Good Franchisee?

Did you watch…scratch that, did you attempt to watch Nik Wallenda #WalkTheWire ?

You do know what I’m referring to, right?

(This post may contain affiliate links. Please read my disclosure policy).

Well, just in case you were hanging out in your Glenn Beck designed underground bunker last weekend for a practice “End of The World “drill (and weren’t near a television), allow me to clue you in on what you missed….
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(Photo of Nik Wallenda courtesy of Dave Pape-Flickr)

 

You missed Nik Wallenda, (a member of the Flying Wallenda family franchise) walking across over Niagara Falls on a tightrope. Pretty amazing. Except for one little thing. Keep reading…

Look closely. Do you see it? Closer…closer…there you go. You found it.

Mr. Wallenda is tethered to a high-tech safety harness.

Would you like to know why?

So he won’t fall into The Falls and die. Allow me to share a Tweet that I typed out during this live pulse-pounding event;

live tweets nik wallenda niagara falls

Call me crazy, but I thought that the whole purpose of being a daredevil was to dare the devil.

Call me sick, but when my Mom called to tell me that some nut-job was attempting to walk across the entire length of Niagara Falls on a tightrope, I turned my television on hoping to see a splash. Didn’t you?

Call me a party pooper if you want, but as soon as I noticed-and zoomed in on the contraption that was quietly following old Nik during his daring walk, I looked over to my wife and yelled WTF!



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And then I turned the freak show off. I was really disappointed in Nik. There he was, walking ever so slowly across The Falls, sharing childhood memories with his Dad via a waterproof headset. Nik didn’t even look scared. As a matter of fact, Nik Wallenda seemed kind of laid back. Almost as if he wasn’t taking much risk.

 

Almost Like a Franchisee

I’ve worked with lots of potential franchise owners–franchisees, who reminded me of Nik Wallenda. They were willing to take a risk–to a point, but really wanted to make sure that they had some type of safety mechanism. They wanted needed to know that if they started to fall, something…or someone would be there to catch them. That’s why they were attracted to the business model of franchising in the first place. They didn’t want to start a business from scratch.

After all, franchising offers;

  • A business system
  • Formal training
  • Corporate support
  • Field support
  • Lower risk-Wait. Not true. Buying a franchise can be just as risky as buying a non-franchise business. Don’t fall for some of the franchise success and failure statistics that are still being bandied around.

 

Get Some Safety Gear

If you’re going to buy a franchise someday, be like Nik; lower your risk.

1.  Make sure that you are the right type of person for franchise ownership

2.  Only look at franchises that will allow you to use your  top skills

3.  Stay well within your budget

4.  Stash some of this

5.  Hire a lawyer

6. Find a franchisee that can mentor you

 

I’m willing to wager that Nik Wallenda would do those 6 things if he was looking into becoming the owner of a franchise business. The guy gets it.

I think that Nik Wallenda would make a great franchisee.

(Even though he thoroughly disappointed me. I kind of wanted to see a splash.)

Would you make a great franchisee? Why?

Would you like to work with me? I provide very useful advice. Let’s talk.

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franchise article written by joel libava
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joel libava

I'm The Franchise King®, Joel Libava. I help prospective franchise owners avoid bank account emptying mistakes.
For 23 years, I’ve been showing people how to make smart, informed decisions on franchises to buy, and I can help you, too!
P.S. I'm not a franchise consultant/broker.

Joel is Highly Principled
There are many people in the franchise business who claim to to be experts in the field. Unfortunately many of them lack both knowledge and integrity. Joel, however, is without question one of the most qualified and principled people I know, in or out of his industry."
- Greg Reynolds, Retired Outplacement Counselor
"Many receive advice, only the wise profit from it."
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