If you’re considering buying a franchise, you should know that many of the franchise advice sites on the Internet are set up to make you believe that investing in a franchise is the best thing since sliced bread.
Check out the list of 10 reasons not to buy a franchise on forbes.com before making a decision. Forbes cites high start up costs, lack of legal recourse and limited independence as some of the reasons for thinking twice before starting a franchise.
If you still want to go it alone, but think you would feel more secure having a franchise, then setting up on your own, because you don’t have any business experience, consider taking a business course instead. Sure, some of them are expensive, but they’re usually a whole lot cheaper than paying a franchise licence fee.
So before you go tying yourself into a restrictive franchise agreement, consider whether your chosen business is something you could set up on your own – if you had the necessary training, and consider taking a business course instead.
danakeith on May 27th, 2008 at 12:07 am
I agree to this post, franchising cost you a lot of money, if I were to start up a business, I’d rather have it named after me than to franchise.