Sunday, September 11, 2016

Ed asks: What would David look for in a new franchise opportunity? How to Buy a Business - How to buy a franchise

Ed recently downloaded a copy of my 2015 Best-seller, Franchise Warnings from

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:

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

If you’d like to learn how to create high returns by making local private lending and lease deals, check out The Local Investing Academy starts at the end of September.  For a quick introduction, read Invest Local.  It’s available from Amazon stores worldwide or as a .pdf here:

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Do you live in Toronto or the Maritimes?  I’ve got workshops coming up for Toronto in September on buying and selling businesses and in October-December in the Maritimes.  Book now

Thanks and I’ll see you next time. 

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