Overcoming the Fear of Buying a Franchise : If you are looking for the safest way to expand or diversify your business, this is the franchise.
Well, if that’s true, why are so many people afraid of franchising?
Since its inception in the late 1800s, and with post-World War II expansion primarily in the United States, the franchise has developed one of the greatest business success stories of all time. Main Street America is populated by franchise outlets. From restaurants to specialty food stores, bookstores to clothing stores, beauty stores to postal centers, and a plethora of service providers, including carpet cleaners, auto shops, and home remodelers, franchises are everywhere. Franchise businesses take up 40 percent of all retail sales in the United States.
There are approximately 2,000+ franchise companies that support more than 900,000 franchised outlets in America. Countless people have become rich through franchising, and there are no financial or educational barriers to prevent anyone from using this concept successfully. Governments around the world, and especially in the United States, have allowed the average person to investigate franchises and predict returns on franchise investments. University studies, government statistics, and even a poll by the Gallop Organization support the success of the franchise.
So what’s there to be afraid of franchising?
Critics say there’s a lot to scare you from the concept. Listen to the critics – some of whom failed in the franchise and therefore believe they have the “credentials” to be critics – and they will tell you all the horror stories about the franchise. Of course, there are horror stories about any type of business, but only a misinformed person would say that owning a business is bad. Anyone willing to trust franchise critics, without doing their own homework, is probably better off fearing franchises. They … Read moreFranchising