You all have nothing better to do?

OK, so 10 months in between rants is a bit much. But imagine my surprise when I dug this carcass up and found folks have been reading and commenting on it. Oh Myyyyyyy.

I’d like to talk to you today about Franchises. Now, know it or not you (yes YOU) patronize franchises on an almost daily basis. You know of the obvious ones; any fast food or chain restaurant. Most cell phone stores. All insurance agencies. But what about the hidden ones? Watch a major league sporting event? Have your carpets cleaned by Stanly Steemer? Purchased product from Next Day Blinds? Guess what! You’ve patronized a franchise.

A franchise is simple – for a fee you become the “local owner” of a nationally recognized organization with all of the benefits and perks assigned there to. The fee is usually a hefty up front chunk of cash (Mc Donald’s fees are $500,000 and up) and a portion of each sale. In the case of almost all franchises (especially food based ones) you are required to follow their formulas and recipes. In other cases there may be no constraints at all. You get training, “trade secrets” and participate in advertising. You should also get support from a business development manager and other folks in the home office.

Sounds good, right?

Word to the wise – there is no, and I mean NO franchise operation that you cannot start, on your own and keep 100% of your profits (after taxes). If you have enough cash to purchase a franchise – you have enough to start out independently. Before you decide to buy, do three days of research.

Yes, experience is a great teacher.