One thing you need to understand upfront before you buy a franchise: Franchising never, ever comes with guarantees.
Do you know of any business methodologies that do?
Franchising is a method of distributing products and services. The method is defined and supported by a system. How well the franchise will perform depends first and foremost on the quality of the system.
The next most importance factor is the franchisee's desire, ability and willingness to follow the system. A quality system in the hands of a dedicated franchisee usually spells success.
However, there are other issues that could de-rail even a successfully operating franchise. And you can't control these issues. They include:
# The economy. Had we only known in 2006 what we'd face in 2008 and 2009 -- most franchisors and franchisees would have made different decisions about their businesses.
# The market. Interests and demands change. Suddenly, the thriving market that once existed for your products or services disappears.
# Changes at the corporate office. The new management team isn't nearly as good as the old management team. The new ownership isn't nearly as vested in the franchisees as was the founder. When changes occur at the corporate office, they may negatively impact your business, or at least your relationship with the franchisor.
Any one or a combination of these issues can turn a thriving, satisfying, profit-producing franchise (or business) into a disaster.
That's a risk you must be prepared to accept before you buy a franchise.
If you're not willing to accept the risk, then keep you job! Or, if you lost your job, get another one. A job may not be satisfying and it may not pay enough money -- but if you've got one, or can get one, it may last longer than a franchise.
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