Tough love on buying a franchise

At a time of high unemployment, it’s natural for there to be increased interest in starting a small business. And one of the classic options is to look into buying a franchise because many thinks they’re like a business-in-a-box. 

Another thing that is part-and-parcel with these start-up scenarios is desperation, which leads to poor decision-making and way too many business failures.  Recently on my radio program, The Small Business Advocate Show, Nick Bibby delivered some tough love that every prospective franchisee should experience before signing on a franchise dotted line. 

In addition to being a member of my Brain Trust, Nick is principal of the Bibby Group, an international consulting firm focused on the development of franchise systems, as well as due diligence services for prospective franchisees and independent entrepreneurs. Take a few minutes to listen to this interview and, as always, leave your thoughts and experiences on franchising. Listen Live! Download, Too!

One Response to “Tough love on buying a franchise”

  1. 1
    Joel Libava Says:

    Hi Jim,

    I totally agree with you on this. For the most part, I agree with Nick, also.

    One should NEVER buy a franchise because one is not able to land a job. Wrong reason.

    The Franchise King®
    Joel Libava

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