To franchise or not? I have had a number of clients ask me recently what my thoughts are on franchising. Instead of giving my personal opinion I suggested that they ask themselves a few questions and then listen to their gut. Why do you want to franchise? Is it because you haven’t been successful thus far and you think that the franchise will magically change everything? Does the franchise promise easy money with little to no effort on your part? How is the franchise structured? Who makes the most money upfront? You or corporate? I looked into a real estate franchise at one time and the franchise wanted $40,000 as a buy in. Are you willing to give up the art that you teach? No judgment here. It’s just a question What will your retention be like? Does the franchise curriculum tie into the long term benefits of the black belt lifestyle or is it just a mill? How do you feel about that? What happens if corporate changes the rules on you? What can you do about it? What happens if there is a corporate scandal that is all over the news and social media? How will that affect you? What if corporate decides to close the company down? What happens to your branding, marketing, apparel line, etc? Finally, we were all put on this earth for a reason. In your heart, do you feel that the franchise will help you carry out God’s will for your life? Hope this helps, Bill Storm
Posted on: Fri, 04 Apr 2014 19:07:02 +0000