How To Change The (Franchise) World; Please Stop Buying Franchises!

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Now he’s done it, you’re saying; he’s finally thrown himself right over the edge.

King smiling

Maybe my Crown is a little tight


Maybe.

If you’re thinking about buying a franchise, this post is for you. If you know someone who’s mentioned that they’ve “been looking for a franchise to buy,” please bookmark this post, and send it to them. They’ll thank you, someday.

Now, I’m not saying that folks should just stop buying franchises and grind the franchise industry to a halt. It’s a great industry, and the business model of franchising rocks. It’s even relatively safe, if the person buying into the franchise concept take the steps necessary to protect themselves.

I just want people to stop buying franchises that

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Filed Under: Hot Franchise Topics

The Franchise King's® Version of The FDD; If You're Buying a Franchise…

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Istock_000005815511xsmall_2

Please read about this brand new option available, just for you.

Over the last 10+ years, I’ve provided one-on-one guidance to hundreds of prospective franchise owners. Until recently, I did it as a franchise consultant. (A franchise broker.) I presented specific franchises to would-be franchise owners that I felt were a fit based on some pretty specific criteria. My stable of franchise business concepts numbered about 100 or so, and those were the only ones I talked about with my “candidates.”

A candidate is a lot different than a client. My clients were the 100 franchisors that were paying me a generous “finder’s fee,” if I found them someone who bought their particular franchise. The franchise broker model is just like the executive recruiter’s model. The recruiter is paid a finder’s fee from the company doing the hiring. The company is the recruiter’s client; the job-seeker is the candidate.

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Filed Under: Franchise Advisor, Franchise News

The Franchise King's® Version of The FDD; If You're Buying a Franchise…

By

Istock_000005815511xsmall_2

Please read about this brand new option available, just for you.

Over the last 10+ years, I’ve provided one-on-one guidance to hundreds of prospective franchise owners. Until recently, I did it as a franchise consultant. (A franchise broker.) I presented specific franchises to would-be franchise owners that I felt were a fit based on some pretty specific criteria. My stable of franchise business concepts numbered about 100 or so, and those were the only ones I talked about with my “candidates.”

A candidate is a lot different than a client. My clients were the 100 franchisors that were paying me a generous “finder’s fee,” if I found them someone who bought their particular franchise. The franchise broker model is just like the executive recruiter’s model. The recruiter is paid a finder’s fee from the company doing the hiring. The company is the recruiter’s client; the job-seeker is the candidate.

[Read more...]

Filed Under: Franchise Advisor, Franchise News

Why Do People Buy Franchises?

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There’s certainly no shortage of franchise opportunities to look at. It comes down to choosing the right franchise business for you.

If you are someone who thinks that most people are buying franchises to become rich, you’re wrong. (Well, you’re only partially wrong.) Believe it or not, it’s not the most popular reason for buying a franchise. There are others.




I’ve indentified several “Popular Reasons For Buying a Franchise,” and these reasons are based on my personal involvement as a franchise advisor who’s worked with hundreds of potential franchise owners.

If you’re thinking about becoming a franchise owner, read this franchise series in it’s entirety; see if you can relate or identify with the reasons given for buying a franchise.

Or, maybe you have some “other” reasons. Go with them. They are after all, your reasons…


Popular Reasons For Buying a Franchise


Part 1

Part 2

Part 3

Part 4

Part 5

Part 6

Part 7

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Did you enjoy the posts? Did you learn a few things?


Would you like to work with me?



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Filed Under: Franchise Advisor

Popular Reasons For Buying a Franchise (Part 7)

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In this franchise business article series, I've explored several popular reasons that people buy franchises.

Most folks that buy franchises want to make a pretty big change in their lives, bring in a nice income, (at least in step with what they're used to making) and build some equity.

In Part 6 of this series, I discussed (via video) a reason that lots of people have, but one that isn't top of mind-at first; building a legacy.

In the final part of this franchise business series on "Popular Reasons For Buying a Franchise," I'm going to share a popular reason that a smaller percentage of folks buy franchises. This reason has to do with the demographic of the folks that are considering franchise ownership.

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Filed Under: Small Business

Popular Reasons For Buying a Franchise (Part 6)

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In Part 5 of this series on popular reasons for buying a franchise, I brought up something that’s invisible at first, but starts to appear, as your franchise business starts to grow; equity. Read Part 5.

While a good portion of folks that I’ve advised over the years have stated that “building equity” is really important to them, there’s another popular reason that usually comes up in conversation. Once you hear what it is, it just may become one of your reasons to become a franchise owner, too.

You may even get a little mushy when you hear what it is…

Here’s Part 7


Do you have any burning questions on any aspect of franchising?

www.AskTheFranchiseKing.com

Free Answers!

Filed Under: Small Business

Popular Reasons For Buying a Franchise (Part 5)

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In Part 4 of this series on "Popular Reasons For Buying a Franchise," I discusssed the money part of the equation, and how money wasn't as important as some people thought. In case you are just joining in, here's Part 4.

Now, I'm going to bring up a reason that's not only a popular one, but one that's a close cousin to money. It's one that you may be thinking about, if you're in the market for a franchise of you're own, but it may not be top of mind…

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Filed Under: Small Business

Popular Reasons For Buying a Franchise (Part 3)

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In Part 2 of this franchise series, I wrote that "freedom" was a very popular reason for buying a franchise. I received a couple of great comments, and they reminded me that freedom doesn't come without a sacrifice. You have to earn the right to be able to have some freedom to come and go as a franchise owner, or whatever else it is that you define freedom with.

In case you missed it, here's Part 2.

So, what is another popular reason people that people decide to move away from a "job," and move towards small business ownership?

It's actually a close cousin to "freedom." It's

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Filed Under: Small Business

Popular Reasons For Buying a Franchise (Part 2)

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In Part 1 of this franchise series, I wrote that “travel burnout” was one pretty popular reason that folks tell me they wanted to move away from a corporate job, and move towards becoming their own boss.

Here’s Part 1, in case you missed it. It’s a quick read.

Now I’m going to share another popular reason for buying a franchise, and this one won’t be a surprise. At all.

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Filed Under: Franchise Purchasing

Popular Reasons For Buying a Franchise (Part 1)

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business traveler

People make the decision to buy a franchise business for many different reasons. Making the decision to become a franchise owner, (or any type of business owner) is a major one. It involves risk, of course, but it involves so much more.

If you're about to take the leap, and become your own boss, I commend you. You're a courageous soul.

Over the years, I've heard many different reasons from folks, who've been interested in exploring the great business model of franchising. Would you like to know why folks decide to buy a franchise?

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Filed Under: Business Travel, Franchise Purchasing, Hot Franchise Topics
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