You’ll find an abundance of reasons for buying into a franchise being repeated here and there. Among these reasons of course is the alarmingly high rate of failure among small businesses, the freedom of working in franchising and the benefit of an established brand name and business plan. There’s also the added benefit of not having to start from absolutely nothing and having to claw your way to the top, as in small businesses. This all makes franchising sound like an extremely attractive prospect but not everything about it is as pleasant as you may think.
Let’s talk about the less attractive qualities of franchising, so you have the whole picture in front of you. Franchising includes contracts and agreements that may come across as being extremely restrictive, especially if you value your independence as an entrepreneur. You can only deal in products and services pre-approved by your franchiser. This is in accordance with the Confidential Operations Manual and the Uniform Franchise Offering Circular (UFOC). You are also required to manage your business according to the rules and standards set forth by the franchiser. You will also be sharing a good portion of your profits with your franchiser in the form of royalties. This may all make enough sense to some, while others maybe resentful.
Additionally, after setting up shop, the franchise company you’re involved in may have some of their staff pay you a surprise visit. This visit may result in you being all but ordered to change your store or modify your business practices, something that will surely burden you with more expenses. These are just a handful of the commonest complaints, so think carefully before you make your move.
Reasons to Avoid Buying a Franchise - To learn more about this author, visit Sebastien Page's Website.
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Anne Barr
Anne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations,
networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business
ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Sebastien Page
(Visit Sebastien's Website)
Sebas
tien Page is Director of Marketing for
Wo
rldFranchising.com, the most
comprehensive information resource for
potential franchise buyers. The company
also publishes franchise best sellers such
as Bond's Franchise Guide, and Top 100
Franchises Guide. Before joining
WorldFranchising.com, Page was Marketing
Manager for Franchise.com where he
successfully led the Marketing Department.
Sebastien Page is very active in the
franchise community and he often writes
about franchising, sales and marketing.
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