"Profitable Franchising Without The Pain"
Here's a little bit about myself.
Like many who've thought of going out on their own and starting a business, I chose the franchise route for all the best reasons.
Having committed to the franchise, I soon discovered that not all of the above was available to me. Worse than that after a full years trading I was nowhere near where I should have been according to the figures supplied by the franchisor. Clearly I needed more support and training, but I wasn't the only franchisee in this situation.
Despite my disappointment with the business so far, I wasn't inclined to give up so quickly and committed myself to a further years trading that required more of my cash being put into the business. Sadly, the business still failed to perform and by the end of the second year I was faced with the terrible dilemma of what to do. I now had a business that had been trading for two years, but was still losing money. Could I sell the business, or would I have to close it down and walk away leaving the franchisor with the opportunity to sell the franchise on to another franchisee?
In the end I decided that I couldn't afford to continue to cash flow the business into the third year, in some vague hope that I might find a buyer or that the business would finally turn the corner and move into profit. There was no choice but to close the business down and walk away.
This was a bitter pill to swallow, as I'd invested a lot of my time, energy and money into a business that I believed would give me the future I wanted. A job I would enjoy, a business I could be proud of and income that would provide the lifestyle I sought. All of these hopes were destroyed and I found myself heading for my fiftieth birthday with no job, income and my dreams shattered.
Was I angry? You bet I was...and that's the motivation for this site. I realised on reflection that I'd made some horrendous mistakes when selecting the franchise and undertaking the necessary due diligence. I'd learnt a lot in that painful process and I was determined to share my knowledge with others in the hope that they could avoid what I'd been through.
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