I often give seminars in my local community. One question that I am asked at every single seminar is “What are some of the most common “warning signs” about a particular franchise system?” My reply is something like: buying a franchise is usually the biggest business decision most entrepreneurs will make, so one has to use a great deal of care. There are many good franchise systems AND bad ones as well.
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Many who end up buying franchises do so because they believe the franchisor has a proven track record. If they fail they generally blame the franchisor’s business plan or methods. Sometimes they say that the franchisor somehow misrepresented the business during the sale, so they can sue and get their money back, even if the fault is that of the franchisee and their business acumen.
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Why Do Some Franchisees Fail If The Franchisors Business Plans Are Proven To Work?
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