{"id":11904,"date":"2013-12-09T16:33:14","date_gmt":"2013-12-09T16:33:14","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=11904"},"modified":"2016-09-14T19:53:41","modified_gmt":"2016-09-14T19:53:41","slug":"4-letter-word-for-prospective-franchisees","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/4-letter-word-for-prospective-franchisees","title":{"rendered":"A 4-Letter Word For Prospective Franchisees"},"content":{"rendered":"<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/4-letter-words.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-11908\" alt=\"the word is...\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/4-letter-words.png\" width=\"309\" height=\"180\" \/><\/a><\/p>\n<p>When most people think of this 4-letter word, they usually think about how the word can affect <i>them<\/i>. It\u2019s completely normal.<\/p>\n<p>But, the word I\u2019m about to share with you (<i>when there\u2019s an action associated with it<\/i>) can affect more than just the person who has decided to fully embrace it\u2026fully experience it. <strong>It&#8217;s a 4-letter word for prospective franchisees<\/strong>. It&#8217;s a word they need to learn about.<\/p>\n<p>The word I\u2019m referring to was also embraced by another person-it\u2019s really the reason that you\u2019re where you\u2019re at now\u2026or soon will be.<br \/>\n&nbsp;<br \/>\nI\u2019ll explain.<br \/>\n&nbsp;<br \/>\n&nbsp;<\/p>\n<h2>A 4-Letter Word For Prospective Franchisees<\/h2>\n<p>When someone contacts me for <a title=\"franchise advice before you buy one\" href=\"https:\/\/www.thefranchiseking.com\/before-you-buy-a-franchise-get-information-advice\">franchise advice<\/a>, I can usually sense some apprehension on their part. They\u2019re concerned about what they may be about to do. I don\u2019t blame them. But there\u2019s a reason they\u2019re coming to me.<\/p>\n<p>People come to me for advice and guidance because they\u2019re trying to lower their <b>risk<\/b>.<\/p>\n<p><em>That\u2019s<\/em> the 4-letter word I\u2019m referring to.<\/p>\n<p>And, I\u2019m good at helping people get more comfortable with it.<\/p>\n<p>But, it\u2019s not like it\u2019s a dirty word. It\u2019s just a scary one.<\/p>\n<p>&nbsp;<\/p>\n<h2>Ways To Lower Franchise Ownership Risk<\/h2>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/featured-listings.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8573\" alt=\"free\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/featured-listings.png\" width=\"288\" height=\"288\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/featured-listings.png 288w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/featured-listings-150x150.png 150w\" sizes=\"auto, (max-width: 288px) 100vw, 288px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Choose wisely<\/li>\n<li>Do <a title=\"researching a franchise\" href=\"https:\/\/www.thefranchiseking.com\/store\/the-essential-steps-to-researching-a-franchise\/\">great franchise research<\/a><\/li>\n<li>Have enough money to last you through the first year<\/li>\n<li>Create <a title=\"writing business plans for a franchise\" href=\"https:\/\/www.thefranchiseking.com\/are-you-writing-your-business-plan\">a business plan<\/a><\/li>\n<li>Use a franchise attorney<\/li>\n<\/ul>\n<p>Becoming the owner of a business-any type of business, <i>is<\/i> risky. Don\u2019t let anyone tell you otherwise. You just need to get comfortable with the idea of risk. Not 100% comfortable. <i>Just more<\/i> comfortable. \u00a0Just don\u2019t fall for some of the spin that\u2019s out there concerning franchise risk.<\/p>\n<p><b>Fact:<\/b> It is <i>not<\/i> less risky to start a franchise as opposed to starting an independent business. Don\u2019t believe <em>everything<\/em> you read about <a title=\"franchise failure and success rates\" href=\"https:\/\/www.thefranchiseking.com\/shocking-franchise-success-failure-statistics-revealed\">franchises being less risky<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h2>There\u2019s Risk On The Other Side Too<\/h2>\n<p>There\u2019s also risk involved in turning an independent business into a franchise business. It&#8217;s real risky. One reason that it&#8217;s risky to franchise a business is that there&#8217;s no guarantee of success.<\/p>\n<p>Another reason that it can be risky to franchise a business has to do with the person or the firm that&#8217;s actually doing the necessary work needed to put an entire franchise package together. <a title=\"franchise development firms\" href=\"https:\/\/www.thefranchiseking.com\/do-you-really-want-to-franchise-your-business\">Some franchise development firms aren\u2019t that good.<\/a><\/p>\n<p>Plus, not every business is right for franchising.<\/p>\n<p>If someone wants to turn their business into a franchise business, the first thing they\u2019ll need to do is get comfortable with the risk involved in setting up a franchise. The next thing they\u2019ll need to get comfortable with is the money.<\/p>\n<p>When people call me for information on how they can franchise their business (<i>I don\u2019t do franchise development work-but I make referrals to people that do<\/i>) I tell them point blank that they should figure on spending around $100,000\u00a0<b>to do it right<\/b>. All the things they\u2019ll need to do\u2026and all the things they\u2019ll need to have in place can add up really fast.<\/p>\n<p>For example, they\u2019ll need to create operations manual. They\u2019ll need to purchase the right kind of <a title=\"business technology\" href=\"https:\/\/www.smallbiztechnology.com\/\" target=\"_blank\">technology<\/a>. They\u2019ll need to have <a title=\"lawyers for franchising\" href=\"https:\/\/www.thefranchiseking.com\/using-the-right\" target=\"_blank\">a franchise attorney<\/a> draw up all the legal documents. A training program will need to be designed for franchisees. Plus, they\u2019ll be lots of marketing expenses to launch the new franchise.<\/p>\n<p>There is definitely risk involved in setting up a franchise business.<\/p>\n<p>But, without risk, a lot of things we enjoy today wouldn&#8217;t be available to use.<\/p>\n<p><strong>Like<\/strong><\/p>\n<ul>\n<li>Electricity<\/li>\n<li>Fire<\/li>\n<li>Automobiles<\/li>\n<li>Computers<\/li>\n<li>The internet<\/li>\n<li>Solar power<\/li>\n<\/ul>\n<p>A lot of people before us took risks.<\/p>\n<p>Now it&#8217;s your turn. You\u2019re the one that has to decide when (<i>and if<\/i>) you\u2019re ready to take one.<\/p>\n<p>Just know that there are many ways to lower your risk these days.<\/p>\n<p>If you\u2019re looking to become your own boss, and feel that a franchise business could be the way to go, <a title=\"talk to me\" href=\"https:\/\/www.thefranchiseking.com\/potential-franchise-owners-learn-how-to-buy-a-franchise\">let\u2019s talk<\/a>. I have dozens of ways for you to lower your risk if you decide to become a franchise owner.<\/p>\n<p>Don\u2019t fear risk. Learn how to get more comfortable with it.<\/p>\n<p>Be at one with risk. So you can move forward.<\/p>\n<p>Contact me if you want to learn how I can help you lower your risk.<\/p>\n<p>&nbsp;<\/p>\n<div id=\"wufoo-x1pl8mm119tnc49\">Fill out my online form.<\/div>\n<p><script type=\"text\/javascript\">\/\/ <![CDATA[\nvar x1pl8mm119tnc49;(function(d, t) { var s = d.createElement(t), options = { 'userName':'franpro',  'formHash':'x1pl8mm119tnc49',  'autoResize':true, 'height':'420', 'async':true, 'host':'wufoo.com', 'header':'show',  'ssl':true}; s.src = ('https:' == d.location.protocol ? 'https:\/\/' : 'https:\/\/') + 'wufoo.com\/scripts\/embed\/form.js'; s.onload = s.onreadystatechange = function() { var rs = this.readyState; if (rs) if (rs != 'complete') if (rs != 'loaded') return; try { x1pl8mm119tnc49 = new WufooForm();x1pl8mm119tnc49.initialize(options);x1pl8mm119tnc49.display(); } catch (e) {}}; var scr = d.getElementsByTagName(t)[0], par = scr.parentNode; par.insertBefore(s, scr); })(document, 'script');\n\/\/ ]]><\/script><br \/>\n&nbsp;<br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When most people think of this 4-letter word, they usually think about how the word can affect them. It&rsquo;s completely normal. But, the word I&rsquo;m about to share with you (when there&rsquo;s an action associated with it) can affect more than just the person who has decided to fully embrace it&hellip;fully experience it. It&rsquo;s a [&hellip;]<\/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":[564,32],"tags":[1388,1387],"class_list":["post-11904","post","type-post","status-publish","format-standard","hentry","category-franchise-ownership","category-franchise-purchasing","tag-4-letter-words","tag-franchise-risk"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>A 4-Letter Word For Prospective Franchisees<\/title>\n<meta name=\"description\" content=\"There&#039;s a 4-letter word for prospective franchisees to know about. 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