A quick test for those thinking of buying a franchise.
Do you know the two major reasons for buying a franchise? Or what should be the reasons?
One is name recognition and the other; training that they are to give you.
How many franchisers give you true name recognition and training? You better get them because franchises are not cheap. You pay up front and the royalties thereafter will be a big cut of your bottom line. In fact, those royalties may equal half your bottom line, if you ever manage to get any.
In truth, I hardly ever recommend the purchase of a franchise because franchisees never really get true name recognition and the required training from the average franchiser.
Only a handful of franchises are worth buying. I have gone into this in my business publications.
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