Failure? In a franchise system? Cmon……
Yes it really is possible to fail in the franchise business.
The common reasons are:
1. Not following the system. You are buying a system. Use it.
2. Mismatch. You choose a Subway because you know the “name” and you feel
that you cannot fail. You can. Especially if you have never been in the
food service industry. Subway is a great system for the right person.
3. You did not realize that you won’t be drawing a salary right away, and
did not stash 6-12 months of business and living expenses.
4. You did all your searching and research alone. There are plenty of
franchise advisers out there. Maybe you should have used an expert to
help you.
5. You bought a “hot franchise.”
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And lessons.
One more thing; did you know that John Wiley & Sons is publishing my first hardcover book?
It’s called, Become a Franchise Owner!
It’s due out Fall 2011. Check it out
About The Franchise King®
