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| Franchise Question. |
Question:
I'm looking into buying a franchise
but the only information I can find
comes from the franchiser and it is
hard to find information from the
franchisee's point of view. Does anyone
know of a resource where I might get
some information about how well a
certain franchises' franchisees do?
Also, is there a resource that might
help me size up the corporate entity
that is offering the franchise. Any
help would be greatly appreciated.
Answer:
Franchising is regulated by the FTC
(I'm presuming that you're in the
US). Start here for an outline of
their rules:
Franchisees are independent of the
franchiser. There's nothing stopping
you from calling some of them for
their opinion of the franchiser.
There are two things that folks have
suggested to me regarding franchises:
1) go work in one for a few months
to see if it is something that you
really want to do. You will
really get the low-down on the business
by actually working at one and seeing
it in action.
2) go talk with folks who run franchises
in other parts of the country (someone
near to you will see you as competition,
and likely not want to talk with you).
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