Nothing like a good article on franchising to bring me out of a blogging hiatus that I anticipated would last at least another week. But thanks to the Small Business Trends site and franchise consultant Joel Libava, my rest is over.
One of my franchisee clients offered a very simple question that every prospective franchisee should ask of other franchisees when conducting due diligence:
What doesn’t the franchisor do well?
He says this evoked the best responses from franchisees when he conducted his due diligence. If you are considering a franchise be sure to talk to…
When searching my feed reader last night I ran into this distressful thread on BlueMauMau.org, a pro-franchisee Web site. In the comments below the initial post, franchise lawyer Richard Solomon says he is giving up on trying to help franchisees. Richard says,
I’m about ready to climb down off the due diligence cross and
If you are looking at a franchise opportunity perhaps you should beware if your prospective franchisor says the following:
- You don’t need a lawyer to review the agreement.
- I would prefer you don’t talk with the other franchisees. You should only talk with me.
- We won’t negotiate any terms.
- Trust us, we can’t (and won’t) change
As regular readers of this blog know, I am engaged in a never ending search for blogs that present franchise opportunities in a fair and objective manner. All too often franchise related sites are merely promotional pieces.
Upon my return from vacation I ran across a site called The Franchise Pundit. I have been looking a long time for Web sites that give balanced information on franchises rather than just reciting promotional materials. The Franchise Pundit appears to be such a site.
If you are conducting due diligence on a franchise you…