Two huge problems are often overlooked when buying a franchise.
These problems keep many would-be owners stuck in analysis paralysis for months or even years, wondering…
“What if I choose the wrong franchise?”
“What if I put my hard-earned savings into a business that’s just not the right fit for me?”
I made this mistake. In 2016, I bought into the wrong franchise, which cost me a ton of money and time.
I hope you can learn from my mistakes.
So what are these two big problems?
#1 Not All Franchises Are Created Equal
Did you know there are over 3,000 franchise brands in the US alone?
That’s a ton of options to sort through.
And here’s the unfortunate truth:
There’s a MASSIVE quality difference between these brands.
Some brands are absolute diamonds. They have great systems, strong franchisee support, and a track record of happy owners.
But some franchises, quite frankly, are complete duds. Weak training, junk fees, unhappy franchisees, and business models that look better on paper than in reality.
#2 The Costly Danger of a Mismatch
Everyone asks “what’s the hottest brand right now?”.
While I get the intent, this is not the right question. Following the hype of a hot brand is the worst thing you can do.
Owning a franchise means owning a business.
As a business owner, you need to find a model that matches your specific:
- Skills
- Goals
- Budget
- Market
People buy franchises for different reasons. Some just want to replace their income, while others want to build an empire. Some are going alone while others are building alongside their kids.
That “terrible” franchise I bought in 2016? The neighboring franchisee I sold to showed up to closing in a red Ferrari.
He had a killing in the same business that I struggled in.
The best franchise for your friend might be the worst franchise for you.
The good news is it doesn’t have to be this way.
Luckily, there’s a simple way to cut through the clutter of 3,000+ franchises.
I run a franchise coaching program that I’d like to invite you to join at no cost
I created it to help you go from Unhappy Employee to Successful Multi-Unit Franchisee.
Inside, you’ll get access to:
A comprehensive online course that walks you step-by-step of finding & buying a franchise. You’ll learn how to understand royalty structures. You’ll learn to perform due diligence. You’ll learn how to secure funding on the best terms.
Live weekly coaching calls where I dive deep into key strategies and host open Q&A sessions. Ask me anything – I’m an open book.
Pre-recorded franchise webinars. Get an inside look at their business model, competitive advantages, startup costs, and more.
Private community forum. Connect with other aspiring franchise owners. Learn from those ahead of you and build relationships with potential partners.
Personal Advisor – You’ll be connected with an experienced franchise advisor from my team who will help you through the entire process.
You’ll come away with clarity on your best-fit brands.
Here’s what Marcus had to say about my program:
Franchising changed my life and I want to change yours
If you’re remotely interested in learning more about franchise ownership I encourage you to join the coaching program.
Cheers,
Brian Beers
