The more I look into the Franchise Industry, the more it is apparent that most Information is geared around selling franchises. The Business Franchise is exactly that - big business.
If you do a search on Google on 'franchise' or 'franchise information' then you are likely to be presented with thousands of pages of franchise advertisers, franchise consultants, franchise marketplace websites and possible a franchise association.
I have been seriously researching the industry for a number of years now and the number of good information sources I have found are few and far between. There are a number of good books on Franchising on amazon and I strongly suggest that if you are seriously examining buying a franchise then you read as many as you can. You can never do enough research.
I have just come off the back of two days solid of research on google on franchises and I have yet to find any information sites that are not in some way 'sponsored' or funded by franchises or consultants.
Why is this? Do you know any?
The franchise Industry is big business and the opportunities to get impartial, informative advice and information are few and far between.
If you are considering buying a franchise then the biggest piece of advice I can offer is to consider the motivation of any article, web site and 'guru' that you come across. Do your due diligence and ask what their motivation is for providing that information.
To begin that process, let me give my honest answer:
I am writing a blog to give impartial advice from some one who has been a franchisee. I have seen the good and the bad of the franchise industry and have lost a lot of money.
I have spent the last three years, and more, fully researching the franchise industry and have been struck by the lack of impartial advice and information. I have a small vested interest as I am writing a manual on my experiences and how you can avoid them and will be launching it soon. Apart from that, however, I have no other interest in providing you information other than making sure you make the right decision for the rest of your future.
Learning about the franchise industry from honest people can give you every chance of success when researching and buying a franchise. Using the Internet to it's full potential as a tool for your research is a must and at the end of the day with the right knowledge in hand you can come away with a fantastic business for life which can support your and your family in the way that you want to live. Without doing the proper research it is likely you will buy into the wrong type of franchise for you or one which may well collapse in the near future, leaving a gaping hole in your pocket and with little no no resources left to set up fresh.
To your future business success.
Matthew Anderson is a franchise consultant and founder of The Franchise Shop, a UK business franchise directory featuring Franchise Information and Franchise Blog
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