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Posted by Matthew in Franchise on 27.11.2008 3:18:35 pm | 104 views
2 years is how long I have been working in this industry, not a long
time but enough time to form some opinions. We can break it down into
several main sectors:
Of these who really cares? The franchisee of course with the
franchisor coming in a close second. Everyone else is out to make money from
the franchisor/zee. There are of course no shortage of ethical people in
the industry, there are consultants that care and media agencies that
care but the bottom line is they are only there as a service to the
industry.
The franchisee is the one who cares the most because it is their
savings/house at stake. They are investing in a franchise which they
want to run for the foreseeable future at a profit and improve/maintain
their standard of living. So, when buying a franchise remember, it is
your money and this ain't no job interview. Do your due diligence and
never take no for an answer when researching what may be the business
you put everything you own into.
Matthew
I reckon you have hit the nail on the head, especially with your observation that when potential franchisees visit a franchisor or telephone to discuss their next steps, it is not a job interview - it is the opportunity for both parties to explore whether there is an opportunity for each to work together and especially for the franchisee to examine the support they will receive and the ROI they can realistically expect. If the franchisee feels intimidated or pressured then that should ring alarm bells. Similarly, if the franchisor could not exist without franchise sales, i.e. if the business model doesn't stand up, then that also be a warning sign.