When it comes to entrepreneurialism, buying a franchise may seem like one of the safest bets around. The business is already popular and established, and the franchisor holds your hand through the whole process so you’re never in business alone. Not so, says Mark Leonard, franchise expert and former Subway franchise owner. In fact, Mark says buying a franchise is no safer than starting your own business or buying an independent one – and in many ways, it may actually be a lot riskier.
So in this audio, you’ll hear what you need to do before you jump into buying a franchise. You’ll hear the only kind of due diligence that makes a difference, the 3 biggest pitfalls you need to look out for, what kind of help you can typically expect from a franchisor, and the best ways to finance your transaction.
You’ll Also Hear…
• Real-life insight into whether or not anyone is actually getting rich being a franchise owner –and if so, how?
• A quick “idiot’s guide” to all the hoops the franchisor will likely make you jump through (along with the standard restrictions you’ll probably have to be ready to comply with)
• The biggest (and most important) piece of advice Mark tells anyone even thinking about buying a franchise
• The chilling story of how Mark lost 60K his first year owning a Subway business – and what he says he’d do differently today that would’ve made all the difference
• A realistic look at how much you can expect to make with a franchise every year
• Exploding the myth that it’s easy to sell a franchise when the time comes – and the scary story of how the franchisor was able to block Mark from selling his business at a decent price – just because the franchisor didn’t like Mark’s buyer!
• The only best way to finance a franchise when you buy it – but why you’ll never, ever want to go this route if you’re the seller
According to Mark, you need to be very careful before you invest in a franchise. Many people make a good living owning a franchise, but many people also lose their shirts. So in this audio, you’ll hear the truth behind the franchise illusion, and the right way to make it all work for you.
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