Question: I am 55 years old and have been downsized at my job. Wondering what to do in my ‘new life,’ I was thinking of buying into a franchise. What are your thoughts? - F.B., via e-mail
Answer: Franchising has a lot to recommend it and a lot to be considered before one writes a check. On the plus side, you are working with people who know their industry, assuming you choose an established franchise. They’ve made the mistakes, and they can help you avoid those mistakes. However, franchises are all about conformity. No matter how good an innovation may seem, you will not be permitted to make that change unless the franchisor approves. Look well and choose well. If you are a corporate type who can deal with conformity and don’t mind having a partner for life, a franchise may be just the ticket.
nmartin on March 18th, 2008 at 12:18 pm
I saw your posting and thought you would be interested in some advice from my client, Wireless Toyz if you are thinking about starting a business or purchasing a franchise. “Make sure you select a business about which and about whose products you are truly passionate. Like any business you choose to run, it is a marriage. You’ll be living, breathing, nurturing and growing it for a long time and nothing is worse than a marriage without love,” advises Richard Simtob, president of finance and franchise development at Wireless Toyz. Simtob has been managing the expansion of its franchise network through the opening of 66 new stores in 2006 to a total of 180 locations. Learn more about how to choose a franchise or determine whether a franchise business is right for you by contacting Richard Simtob at 866-2FRANCHISE or email him at franchise@wirelesstoyz.com. You may also visit www.wirelesstoyz.com/franchise for more information.