Joel Libava
Some people feel that I’m a bit negative with regards to franchising. I’m fine with that, as they’re typically not the ones that I’m trying to protect. Maybe if the franchise industry wasn’t so fluffy all the time…
(Courtesy of the Free Merriam-Webster Dictionary)
While some of the fluffiness has gone by the wayside, some of it most certainly has not. Words like, “Turnkey,” are still used quite too often in franchise marketing literature. And, once in awhile, some of the newbies in franchising quote very old, and totally unproven franchise success rates. Lame.
Someone Has To Do It
I don’t like spin. As a matter of fact, Spin Sucks.
I prefer reality. (I didn’t used to, but that’s another story.)
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In franchising, the reality is this; new franchise units need to get sold, and sometimes they’re sold to the wrong people.
The flip side of the equation has to do with who’s buying the franchises. Not everyone that’s looking for franchises to own right now—as you’re reading this blog post–should be looking at franchise ownership as a path to success in the first place.
In a perfect world, only people that have the right personality for franchise business ownership should be buying them. And, only the best people–the most qualified, (not only financially) should be sold a particular franchise. But, that’s not happening all that much. Which is why I do what I do.
My Mission;
To make franchising more transparent by aggressively informing all who wish to become franchise owners that there’s definitely risk involved, and then teaching them how to lower it through articles, ebooks, published books, podcasts and my top-notch advisory services. I’m out to create a brand-new generation of super-successful franchisees!
At the same time, I’m gently (sometimes) encouraging franchisors to only choose the best of the best franchise candidates, thereby increasing their chances of mutual success, which in turn, will lower the failure rates in franchising.
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I love preventing mistakes. For example, I get calls from people that seemingly have their minds made up on specific franchises, all the time. I love getting those calls. I’m able to offer ideas and tips that can help them sleep better at night, once they’ve made their decision. Sometimes, the people that call me for advice are doing a great job with their searches and their research. I tell them as much, and wish them luck.
More times than not, however, the people that are getting really close to signing their franchise agreements…their franchise contracts, (which are usually 10-years in length) are missing several steps in the franchise buying process, and are about to set themselves up for failure…or at least, very tough times.
I can usually fix that, if they call me in time.
Stay tuned, because very soon, I’ll be offering a way for any US franchise buyer to contact me before they do anything. Before they sign anything.
Soon.
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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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