It’s Buyer Beware For Franchisees Too
The benefits of owning a franchise are made clear in “Buying into a franchise can take uncertainty out of getting started’’ (Business, Oct. 11). But, based on our experience at Mediation Works Inc. with franchises, potential hazards inherent in these businesses should also be addressed.
A clear picture should be portrayed so that prospective franchisees can accurately assess the investment.
First, while franchise owners “own’’ their business, they answer to the franchisor, who can demand changes, such as renovations or new fees, without input from franchisees.Some franchisors have more franchisee-friendly terms than others. For example, how are major changes handled? Are the terms fair to both parties? Read on…
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- If A Franchisor Declares Bankruptcy, What Happens To The Franchisees? Entrepreneur.com: Question asked by Sally Waller: I’m considering purchasing...
- The Biggest Mistakes Franchisees Make NuWire Investor: The 5 biggest mistakes potential franchisees make...
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