Ed recently downloaded a copy of my 2015 Best-seller, Franchise Warnings from www.franchisewarnings.com
He wrote me an e-mail saying that he was looking at franchises and enjoyed the book. He thought that the central theme of the book was ‘do your homework.’
It’s not. The book’s purpose was to dispel the myth that buying a franchise is less risky than starting a business from scratch. Watch the video here: https://youtu.be/JUItDU5cn-E
Ed also asks what I would look for if I were buying a new franchise. Interesting question.
My first idea is that I would want a fee based franchise over a royalty based one. It allows you to grow the business and keep more of the gravy for yourself.
Secondly, I would need to ensure that the business systems were actually provided and worked well. I know of a two franchises who provide no operating manual and one where the systems are very poor. (I’m sure they’re not alone.)
For my third item, watch the video ;)
To learn more about buying a business, visit
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Thanks and I’ll see you next time.