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Posts made in June, 2012
Over the past few months, I’ve been commenting on an article from allBusiness.com about the 10 Signs of a Great Franchise Opportunity. So far, I’ve been going in order (#1–#4, so far), but in this posting, I’m going to jump down to #9: Honesty. The writer of this article encourages prospective franchisees to ask a lot of questions and then take note of whether the franchisor responds quickly and straightforwardly.
Honesty is certainly a sign of a good franchise business, and I would add something more: transparency....
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I came across this headline last week: Five Signs You May Get Laid Off (article is linked below).
It’s a scary thought—getting laid off, having to look for another job and competing with the hundreds of job applicants who are in the exact same situation you are. And, yet, this is exactly the kind of situation that often motivates people to consider buying a franchise. They are tired of the uncertainty and are resolved to owning their own business so they can be in control of their future.
But there’s an important timing...
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I talk to a lot of prospective franchisees in my work. They come from all parts of the country and professional backgrounds, and their reasons for considering a haircare franchise business are just as varied.
But there’s one thing that is pretty universal: Whenever they ask about small-business financing, the look on their face changes. I can see their concern, maybe even anxiety. It’s completely understandable—investing in a franchise can be a big leap both professionally and financially.
The good...
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