Joel Libava
When I say “I offend 100 would-be franchise owners each year,” it’s not because I’m a mean person. Or to get a rise out of someone.
The reason I do it is to prevent prospective franchise owners from losing hundreds of thousands of dollars on franchise opportunities they have no business buying.
As a matter of fact, the would-be franchisees I’m referring to have no business looking at franchises to begin with. In a moment, you’ll understand why.
Are You a Would-Be Franchise Owner?
If you are, if you’re thinking about becoming your own boss, and you want to go the franchise business route, I encourage you to look around. See what types of franchise opportunities are available these days.
Use These Franchise Opportunity Websites
But…and this is the most important part of this post, you need to make sure you are right for franchise business ownership.
For example, are you willing to hitch your wagon to someone else’s brand?To someone else’s “baby?”
I hope so. Because it is the franchisor’s brand.
And hitching your wagon also means that you must follow the franchisor’s rules. Meaning that you’ll use (and follow) the operating manual that all franchisees get. And you’ll pay royalties and local marketing fees if required.
Are you sure?
Are you sure you want to be a franchisee?
Warning! You May Be Offended
As I stated at the top of this post, I typically offend 100 would-be franchise owners each and every year. Here’s how.
Simply put, prospective franchise owners get offended when I give them a low score on the Free Franchise Quiz. A score of 39 or below.
The Free Franchise Quiz is something I developed in 2006, and since then, almost 7,000 prospective franchise owners have taken it.
The reason I created the quiz? To help would-be franchisees make sure they’re right for franchising. If they have the qualities and attitudes needed to own and operate a successful franchise business. Unfortunately, not everyone does. And it’s these folks whose feathers I tend to ruffle.
They get upset because in their minds I’ve killed their dream. Their dream of becoming a franchise owner.
But I haven’t.
In fact, I’ve saved them a lot of heartache. And legal bills. And maybe even their credit rating.
As well has their entire investment in a franchise that they had little chance of success with.
Because (according to the score I gave them) they were never right for a franchise to begin with.
Now, anyone who takes the quiz can choose to ignore the results and buy a franchise. We all have choices. And it is just a “quiz.”
What About You?
Are you right for franchising?
Are you a rule-follower?
If you score low on The Free Franchise Quiz, are you going to be offended?
Or grateful?
Like Donald Everly:
“Regarding your Free Franchise Quiz: You must have been listening in on my internal monologue. You nailed it by commenting that I am a person who would try to help them refine and polish ‘their system.’ That was totally my thought process. I would find a franchise that I found most fitting, get in, learn the system, then try to help them improve ‘their system’ (all the while thinking that by helping them I would be helping myself and all other franchisees of ‘their system’). You have helped open my eyes as I would likely have been seen by the franchisor as a trouble maker, some kind of agent for change and would likely not be well received though my intent would be completely honest, pure, and noble. Thank you sir for your advice. This will help me rethink my path forward.”
