Buying a franchise – Buyer Beware!
I wrote in my previous post about Aussie entrepreneurship. This leads me as to why first time business owners go into franchising. If I were advising people today about going into a franchise I would say be very very careful and then say don’t do it. Whilst you may be buying a business, once you get into your franchise you are essentially working for the franchisor. You get all the pain, not much control over how your business should be run, and long hours that go along with it whilst the franchisor picks up profits from product sold and monthly royalty fees. I should know as I had a previous franchise which I saw as an investment opportunity. I wished I had stuck to property and shares! A good lesson learnt and one I wanted to pass onto you.