{"id":108,"date":"2007-07-26T07:44:51","date_gmt":"2007-07-26T07:44:51","guid":{"rendered":"https:\/\/expandsmtest.com\/franchiseking\/dont-buy-hot-fr-2\/"},"modified":"2013-07-27T03:04:53","modified_gmt":"2013-07-27T03:04:53","slug":"dont-buy-hot-franchises","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises","title":{"rendered":"Don’t Buy Hot Franchises"},"content":{"rendered":"

One of the most popular questions that I am asked when I give seminars or workshops on investing in a franchise is this one:<\/p>\n

 
\n“What is the hottest franchise right now<\/em>?”<\/p>\n

 <\/p>\n

When I give the answer, the audience is usually surprised….<\/p>\n

<\/p>\n

My answer is:<\/p>\n

 <\/p>\n

“The one that is the best fit for you<\/span> based on your skill set, personality traits, investment comfort level, and exit strategy.” After giving that answer, the disappointment in my audience’s eyes can be overwhelming, but I can handle it!<\/p>\n

Seriously though, wanting to invest in the latest “hot” thing does seem to make sense on an emotional level. Usually, by the time one hears that something is “hot”, it is too late. Think about a stock tip. You are hanging around the water cooler at work {or at your<\/strong> place of business}, and someone starts talking about a great technology company that has been doing very well. This person mentions the name of it, and suggests buying the stock, because “this company is hot”! You can guess how the story ends…you but this “hot” stock, and it goes into the tank, because you bought it when it was on it’s upswing. You were<\/em> too late.<\/em><\/p>\n

Buying the latest “hot” franchise can be a similar experience, except the financial aspect is not just a few shares of a stock. Stories of “hot’ franchises becoming cold are rampant.<\/a>
\nThe ‘hot” franchises that have become rather cold<\/span> of recent memory:<\/p>\n

 <\/p>\n

1. iSold It<\/strong>– an E-Bay drop off franchise\/fad<\/p>\n

2. Quizno’s<\/a><\/strong>– Legal headaches, stores not opening as promised<\/p>\n

3. Curves<\/strong>– Infrastructure issues because of super fast growth<\/p>\n

 <\/p>\n

When I work with people that are interested in exploring opportunities in the world of franchise ownership, I tend to talk about what I call the “steady eddies<\/em>.”
\nThe “steady eddies” are franchise opportunities that are simple service and product oriented businesses, that a nice percentage of the population can buy and use.
\nThere are also some interesting niche businesses that target specific growing segments in our area like health care and technology, for instance. Or how about businesses that target specific growing demographics, like the baby boomer’s that are retiring, or the time starved dual income couples.<\/p>\n

 <\/p>\n

In summation, please be careful what you decide to invest in, when it comes to franchise ownership.<\/p>\n

 <\/p>\n

There are over 3,500 different concepts to choose from. Check out some “steady eddies<\/em>.”<\/p>\n

 <\/p>\n

Need help doing so? Here<\/a>\u00a0\u00a0<\/strong><\/p>\n

 <\/p>\n

<\/strong>
\n\"\"<\/a><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

One of the most popular questions that I am asked when I give seminars or workshops on investing in a franchise is this one:   “What is the hottest franchise right now?”   When I give the answer, the audience is usually surprised….<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[19,47],"tags":[],"class_list":["post-108","post","type-post","status-publish","format-standard","hentry","category-franchise-advisor","category-hot-franchise-topics"],"yoast_head":"\nDon't Buy Hot Franchises — The Franchise King\u00ae<\/title>\n<meta name=\"description\" content=\"Don't Buy Hot Franchises\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don't Buy Hot Franchises\" \/>\n<meta property=\"og:description\" content=\"Don't Buy Hot Franchises\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises\" \/>\n<meta property=\"og:site_name\" content=\"The Franchise King\u00ae\" \/>\n<meta property=\"article:published_time\" content=\"2007-07-26T07:44:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-07-27T03:04:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.shareasale.com\/image\/32163\/300x85_01.jpg\" \/>\n<meta name=\"author\" content=\"Joel Libava\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises\"},\"author\":{\"name\":\"Joel Libava\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/person\\\/b560fd324f6df9be52ac875e631beb66\"},\"headline\":\"Don’t Buy Hot Franchises\",\"datePublished\":\"2007-07-26T07:44:51+00:00\",\"dateModified\":\"2013-07-27T03:04:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises\"},\"wordCount\":421,\"commentCount\":5,\"publisher\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.shareasale.com\\\/image\\\/32163\\\/300x85_01.jpg\",\"articleSection\":[\"Franchise Advisor\",\"Hot Franchise Topics\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2007\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises\",\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises\",\"name\":\"Don't Buy Hot Franchises — The Franchise King\u00ae\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.shareasale.com\\\/image\\\/32163\\\/300x85_01.jpg\",\"datePublished\":\"2007-07-26T07:44:51+00:00\",\"dateModified\":\"2013-07-27T03:04:53+00:00\",\"description\":\"Don't Buy Hot Franchises\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises#primaryimage\",\"url\":\"https:\\\/\\\/www.shareasale.com\\\/image\\\/32163\\\/300x85_01.jpg\",\"contentUrl\":\"https:\\\/\\\/www.shareasale.com\\\/image\\\/32163\\\/300x85_01.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/dont-buy-hot-franchises#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.thefranchiseking.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Franchise Advisor\",\"item\":\"https:\\\/\\\/www.thefranchiseking.com\\\/category\\\/franchise-advisor\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Don’t Buy Hot Franchises\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#website\",\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/\",\"name\":\"The Franchise King\u00ae | Get Franchise Buying Advice\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.thefranchiseking.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\",\"name\":\"Franchise Selection Specialists Inc.\",\"alternateName\":\"The Franchise King\u00ae\",\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/wp-content\\\/uploads\\\/headshot-2023-the-franchise-king.jpg\",\"contentUrl\":\"https:\\\/\\\/www.thefranchiseking.com\\\/wp-content\\\/uploads\\\/headshot-2023-the-franchise-king.jpg\",\"width\":230,\"height\":319,\"caption\":\"Franchise Selection Specialists Inc.\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.instagram.com\\\/thefranchchiseking\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/in\\\/joellibava\",\"https:\\\/\\\/www.pinterest.com\\\/franchiseking\\\/\",\"https:\\\/\\\/www.youtube.com\\\/user\\\/JoelLibava\\\/videos\"],\"description\":\"Franchise Selection Specialists Inc. is owned and operated by The Franchise King, Joel Libava. Joel is the author of \\\"Become a Franchise Owner!\\\" (Wiley) and \\\"The Definitive Guide to Franchise Research\\\" (Self). Joel's blog, The Franchise King Blog, is the longest-running blog in franchising. Joel also owns and operates The Franchise Attorney Directory. Joel Libava works 1-on-1 as a Franchise Ownership Advisor, and is a prolific writer on all things franchising. Finally, he's been in franchising close to 25 years.\",\"email\":\"joel@thefranchiseking.com\",\"telephone\":\"2168312610\",\"legalName\":\"Franchise Selection Specialists Inc.\",\"foundingDate\":\"2002-01-20\",\"taxID\":\"20-1184045\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"1\",\"maxValue\":\"10\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/person\\\/b560fd324f6df9be52ac875e631beb66\",\"name\":\"Joel Libava\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg\",\"caption\":\"Joel Libava\"},\"description\":\"I\u2019m The Franchise King\u00ae, Joel Libava. I'm the author of two helpful books on researching and buying a franchise. In addition, I'm a Franchise Ownership Advisor with 20+ years of experience working 1-on-1 with people interested in buying a franchise, safely. Subscribe to my free VIP Franchise Newsletter.\",\"sameAs\":[\"https:\\\/\\\/www.thefranchiseking.com\",\"https:\\\/\\\/www.instagram.com\\\/thefranchchiseking1\",\"https:\\\/\\\/linkedin.com\\\/in\\\/joellibava\",\"https:\\\/\\\/in.pinterest.com\\\/franchiseking\\\/\",\"https:\\\/\\\/www.youtube.com\\\/JoelLibava\"],\"knowsAbout\":[\"Franchising\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Don't Buy Hot Franchises — The Franchise King\u00ae","description":"Don't Buy Hot Franchises","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises","og_locale":"en_US","og_type":"article","og_title":"Don't Buy Hot Franchises","og_description":"Don't Buy Hot Franchises","og_url":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises","og_site_name":"The Franchise King\u00ae","article_published_time":"2007-07-26T07:44:51+00:00","article_modified_time":"2013-07-27T03:04:53+00:00","og_image":[{"url":"https:\/\/www.shareasale.com\/image\/32163\/300x85_01.jpg","type":"","width":"","height":""}],"author":"Joel Libava","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises#article","isPartOf":{"@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises"},"author":{"name":"Joel Libava","@id":"https:\/\/www.thefranchiseking.com\/#\/schema\/person\/b560fd324f6df9be52ac875e631beb66"},"headline":"Don’t Buy Hot Franchises","datePublished":"2007-07-26T07:44:51+00:00","dateModified":"2013-07-27T03:04:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises"},"wordCount":421,"commentCount":5,"publisher":{"@id":"https:\/\/www.thefranchiseking.com\/#organization"},"image":{"@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises#primaryimage"},"thumbnailUrl":"https:\/\/www.shareasale.com\/image\/32163\/300x85_01.jpg","articleSection":["Franchise Advisor","Hot Franchise Topics"],"inLanguage":"en-US","copyrightYear":"2007","copyrightHolder":{"@id":"https:\/\/www.thefranchiseking.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises","url":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises","name":"Don't Buy Hot Franchises — The Franchise King\u00ae","isPartOf":{"@id":"https:\/\/www.thefranchiseking.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises#primaryimage"},"image":{"@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises#primaryimage"},"thumbnailUrl":"https:\/\/www.shareasale.com\/image\/32163\/300x85_01.jpg","datePublished":"2007-07-26T07:44:51+00:00","dateModified":"2013-07-27T03:04:53+00:00","description":"Don't Buy Hot Franchises","breadcrumb":{"@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises#primaryimage","url":"https:\/\/www.shareasale.com\/image\/32163\/300x85_01.jpg","contentUrl":"https:\/\/www.shareasale.com\/image\/32163\/300x85_01.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.thefranchiseking.com\/dont-buy-hot-franchises#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.thefranchiseking.com\/"},{"@type":"ListItem","position":2,"name":"Franchise Advisor","item":"https:\/\/www.thefranchiseking.com\/category\/franchise-advisor"},{"@type":"ListItem","position":3,"name":"Don’t Buy Hot Franchises"}]},{"@type":"WebSite","@id":"https:\/\/www.thefranchiseking.com\/#website","url":"https:\/\/www.thefranchiseking.com\/","name":"The Franchise King\u00ae | Get Franchise Buying Advice","description":"","publisher":{"@id":"https:\/\/www.thefranchiseking.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.thefranchiseking.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.thefranchiseking.com\/#organization","name":"Franchise Selection Specialists Inc.","alternateName":"The Franchise King\u00ae","url":"https:\/\/www.thefranchiseking.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.thefranchiseking.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/headshot-2023-the-franchise-king.jpg","contentUrl":"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/headshot-2023-the-franchise-king.jpg","width":230,"height":319,"caption":"Franchise Selection Specialists Inc."},"image":{"@id":"https:\/\/www.thefranchiseking.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.instagram.com\/thefranchchiseking\/","https:\/\/www.linkedin.com\/in\/joellibava","https:\/\/www.pinterest.com\/franchiseking\/","https:\/\/www.youtube.com\/user\/JoelLibava\/videos"],"description":"Franchise Selection Specialists Inc. is owned and operated by The Franchise King, Joel Libava. Joel is the author of \"Become a Franchise Owner!\" (Wiley) and \"The Definitive Guide to Franchise Research\" (Self). Joel's blog, The Franchise King Blog, is the longest-running blog in franchising. Joel also owns and operates The Franchise Attorney Directory. Joel Libava works 1-on-1 as a Franchise Ownership Advisor, and is a prolific writer on all things franchising. Finally, he's been in franchising close to 25 years.","email":"joel@thefranchiseking.com","telephone":"2168312610","legalName":"Franchise Selection Specialists Inc.","foundingDate":"2002-01-20","taxID":"20-1184045","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"1","maxValue":"10"}},{"@type":"Person","@id":"https:\/\/www.thefranchiseking.com\/#\/schema\/person\/b560fd324f6df9be52ac875e631beb66","name":"Joel Libava","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","url":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","caption":"Joel Libava"},"description":"I\u2019m The Franchise King\u00ae, Joel Libava. I'm the author of two helpful books on researching and buying a franchise. In addition, I'm a Franchise Ownership Advisor with 20+ years of experience working 1-on-1 with people interested in buying a franchise, safely. Subscribe to my free VIP Franchise Newsletter.","sameAs":["https:\/\/www.thefranchiseking.com","https:\/\/www.instagram.com\/thefranchchiseking1","https:\/\/linkedin.com\/in\/joellibava","https:\/\/in.pinterest.com\/franchiseking\/","https:\/\/www.youtube.com\/JoelLibava"],"knowsAbout":["Franchising"]}]}},"_links":{"self":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/comments?post=108"}],"version-history":[{"count":0,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/108\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media?parent=108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/categories?post=108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/tags?post=108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}