{"id":23694,"date":"2017-06-05T13:09:06","date_gmt":"2017-06-05T13:09:06","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=23694"},"modified":"2020-07-07T18:58:01","modified_gmt":"2020-07-07T22:58:01","slug":"three-pieces-of-unimpeachable-franchise-advice","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/three-pieces-of-unimpeachable-franchise-advice","title":{"rendered":"3 Pieces Of Unimpeachable Franchise Advice You Can Take To The Bank"},"content":{"rendered":"<p><a title=\"By No machine-readable author provided. Billy Hathorn assumed (based on copyright claims). [Public domain], via Wikimedia Commons\" href=\"https:\/\/commons.wikimedia.org\/wiki\/File%3AFirst_Bank_of_Hope%2C_AR_IMG_6453.jpg\"><img decoding=\"async\" width=\"612\" alt=\"First Bank of Hope, AR IMG 6453\" src=\"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/7\/76\/First_Bank_of_Hope%2C_AR_IMG_6453.jpg\/512px-First_Bank_of_Hope%2C_AR_IMG_6453.jpg\"><\/a><\/p>\n<p>All of us, at some time in our lives, need advice.<\/p>\n<p>But we have to get it from the right source.<\/p>\n<p>Because not all sources are created equal. Some sources are good; some are not. <em>Obviously<\/em>.<\/p>\n<p>Another key point you need to realize: Your source may have an <em>agenda<\/em>, and that agenda <em>may<\/em> involve money.<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/agendas-can-be-painful.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-23696\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/agendas-can-be-painful-620x310.png\" alt=\"3 pieces of unimpeachable franchise advice to prevent pain\" width=\"620\" height=\"310\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/agendas-can-be-painful-620x310.png 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/agendas-can-be-painful-320x160.png 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/agendas-can-be-painful.png 640w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/a><\/p>\n<p>That&#8217;s not always bad. It just depends on the ethics and <b>the transparency<\/b> of your source. And the true value of the advice. Does that make sense?<br \/>\n&nbsp;<\/p>\n<h2>My Agenda<\/h2>\n<p>Admittedly, I have an agenda. And it&#8217;s a two-parter. (<em>Oh no!<\/em>)<\/p>\n<p>1. The first and most important reason that I freely give franchise advice is <strong>to help would-be franchise owners prevent serious financial pain<\/strong>.<\/p>\n<p>In particular, I offer proven ways for people (<em>who are interested in becoming their own boss through franchise ownership<\/em>) to significantly lower their financial risk&#8230;<strong>to not lose their money in a franchise business. <\/strong><\/p>\n<p>(<em>Which, in turn, increases their chances of success as a franchise owner<\/em>.)<\/p>\n<p>2. The second part of my agenda <em>does<\/em> have to do with money-since I myself am a small business owner.<\/p>\n<p>That&#8217;s right; money.<\/p>\n<p>My hope is that some of the people who <a title=\"top franchise tips and more\" href=\"https:\/\/www.thefranchiseking.com\/ten_tips\">read my articles<\/a>\/watch my <a title=\"top franchise videos\" href=\"https:\/\/www.youtube.com\/user\/JoelLibava\/videos\" target=\"_blank\" rel=\"noopener noreferrer\">franchise videos<\/a> find so much value from the information I share, they&#8217;ll end up doing one or more of the following:<\/p>\n<ul>\n<li>Buy my books<\/li>\n<li>Take my online franchise ownership courses<\/li>\n<li>Invest in my <a href=\"https:\/\/www.thefranchiseking.com\/franchise-success-sessions-franchise-king\" target=\"_blank\" rel=\"noopener noreferrer\">Franchise Success Sessions<\/a><\/li>\n<li>Invest in <a href=\"https:\/\/www.thefranchiseking.com\/thefranchisesuccesskit\" target=\"_blank\" rel=\"noopener noreferrer\">The Franchise Success Kit<\/a><\/li>\n<li>Do business with my advertisers and affiliate partners<\/li>\n<\/ul>\n<p>Are you good with that?<\/p>\n<p>If so, please check out the free advice I&#8217;m offering below.<\/p>\n<p>If <em>not<\/em>, please check out the free advice I&#8217;m offering below.<\/p>\n<p>&nbsp;<\/p>\n<h2>3 Pieces Of Unimpeachable Franchise Advice<\/h2>\n<p>The advice I&#8217;m sharing today comes from the things I&#8217;ve learned and experienced personally in my 20+ years in franchising.<\/p>\n<p><strong>And this advice is unimpeachable.<\/strong><\/p>\n<p><a href=\"https:\/\/www.merriam-webster.com\/dictionary\/unimpeachable\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23702\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/unimpeachable-620x138.png\" alt=\"unimpeachable definition\" width=\"562\" height=\"200\"><\/a><br \/>\n(<em>Definition of &#8220;Unimpeachable&#8221; courtesy of Merriam-Webster Dictionary<\/em>)<\/p>\n<p>Let&#8217;s begin.<\/p>\n<p>&nbsp;<\/p>\n<h2>Franchise Business Ownership Isn&#8217;t For Everyone<\/h2>\n<p>Not only is <em>franchise<\/em> business ownership not for everyone, business ownership <em>in general<\/em> isn&#8217;t for everyone.<\/p>\n<p>In the case of franchise ownership, there are lots of rules to follow. (<em>Because of the way franchising is structured.<\/em>)<\/p>\n<p>In a nutshell, a franchise business is a business built on a system. A system that&#8217;s easy for others to duplicate. And it&#8217;s <a title=\"franchising is a powerful business system\" href=\"https:\/\/www.thefranchiseking.com\/this-business-model-can-dominate-your-market\">very powerful<\/a>.<\/p>\n<p>If you&#8217;re willing (<em>and able<\/em>) to follow someone else&#8217;s business system, franchise ownership is something you need to explore. If you&#8217;re not going to follow the rules-I have some advice for you.<\/p>\n<p><strong>My Advice:<\/strong> If you&#8217;ve never been much of a rule-follower, don&#8217;t mess around with franchise business ownership. You&#8217;ll choke.<br \/>\n&nbsp;<\/p>\n<h3>Important: Read The Next Sentence Twice<\/h3>\n<p>&nbsp;<br \/>\n<strong>Fact:<\/strong> It&#8217;s improbable that you&#8217;ll be able to go through an entire personality transformation-suddenly becoming a person who&#8217;s going to follow all the rules.<\/p>\n<h3>One More Thing: The Sacrifices You&#8217;ll Have To Make<\/h3>\n<p>There are several sacrifices you&#8217;ll have to make when you become the owner of a business.<\/p>\n<p>For example, long-hours, I&#8217;m talking 12-14 hours a day, are very common when you&#8217;re a franchise owner. Make sure you&#8217;re ready for them. And working long hours are only a small part of the things you&#8217;ll have to do as a franchisee.<\/p>\n<ul>\n<li>You won&#8217;t be home very much<\/li>\n<li>You won&#8217;t be making money for awhile<\/li>\n<li>You&#8217;ll be in debt from day one<\/li>\n<li>You&#8217;ll have to worry about things like payroll and rent.<\/li>\n<\/ul>\n<p>And more.<\/p>\n<p>Are you in? Are you ready to make the sacrifices needed to reach your goals?<\/p>\n<p>Suggested Reading- <a href=\"https:\/\/www.thefranchiseking.com\/what-everybody-ought-to-know-about-franchise-consultants\" target=\"_blank\" rel=\"noopener noreferrer\">Why Do Franchise Consultants Offer Free Consultations<\/a>?<\/p>\n<p>&nbsp;<\/p>\n<h2>Hobbies And Interests<\/h2>\n<p>Let&#8217;s say you&#8217;re a dog-lover.<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/puppy-2298832_640.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-23707\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/doggie.jpg\" alt=\"image of a cute dog\" width=\"620\" height=\"413\"><\/a><\/p>\n<p>Let&#8217;s also say that you&#8217;ve been thinking of opening a business.<\/p>\n<p>And since you have a serious love of dogs, you feel that it would make perfect sense to find <a title=\"pet businesses\" href=\"https:\/\/www.franchisedirect.com\/petfranchises\/18\" target=\"_blank\" rel=\"noopener noreferrer\">a business opportunity that&#8217;s related to dogs<\/a>&#8230;or pets.<\/p>\n<p>Consequently, you start looking around at pet-related franchises-and you end up finding one or two that seem to be right up your alley. So you end up narrowing your choices down to one-a retail pet store franchise. And you buy it.<\/p>\n<p>&nbsp;<\/p>\n<h2>12 Months Later&#8230;<\/h2>\n<p>You&#8217;re now the owner of a 15,000 square foot retail pet store.<\/p>\n<p>Your store sells thousands of different products.<\/p>\n<p>In addition-and this is what really attracted you to the franchise, you get to offer dog training.&nbsp;Better yet, your dog training classes are really filling up. But&#8230;<\/p>\n<p><strong>You can&#8217;t do the training.<\/strong><\/p>\n<p>Because you&#8217;re:<\/p>\n<ul>\n<li>Managing the inventory<\/li>\n<li>Hiring and training employees<\/li>\n<li>Dealing with payroll<\/li>\n<li>Working on your local marketing<\/li>\n<\/ul>\n<p>Along with several other time-consuming franchise owner duties.<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/aggravated-franchise-owner1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23714\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/aggravated-franchise-owner1.jpg\" alt=\"frustrated being a retail franchise business owner\" width=\"427\" height=\"640\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/aggravated-franchise-owner1.jpg 427w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/aggravated-franchise-owner1-200x300.jpg 200w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/aggravated-franchise-owner1-380x570.jpg 380w\" sizes=\"auto, (max-width: 427px) 100vw, 427px\" \/><\/a><\/p>\n<p>Consequently, you&#8217;re starting to get frustrated. Really. Frustrated.<\/p>\n<p><em>Because you&#8217;re not hanging with the dogs<\/em>. You&#8217;re not* able to do the training you planned on doing because of all the other &#8220;<em>duties<\/em>&#8221; you have as an Owner.<\/p>\n<p>So much for investing in the business of your dreams. A business where you could focus on and enjoy your interests-in this case, dogs and dog-training.<\/p>\n<p><b>Sad!<\/b><\/p>\n<p>*The scenario I just described happens more than you think. Would-be franchise owners decide to only look at franchises that align with their hobbies and\/or interests. Reality sets in, and they find themselves doing the less-exciting (<em>but necessary)<\/em> back-office work that must get done when you&#8217;re the Owner. And they-along with their franchise businesses, fizzle out.<\/p>\n<p><strong>My advice:<\/strong> Look at franchise opportunities that are in alignment with your top talents. Then, when your franchise business becomes successful, make it your goal to hire a manager who can do most of the work you do. That way you can step away from your business and spend time doing the things you enjoy.<\/p>\n<p>&nbsp;<\/p>\n<h2>Spend A &#8220;Day In The Life&#8221;<\/h2>\n<p>If you find a franchise opportunity that you&#8217;re interested in possibly buying, you need to schedule an in-person visit to one of the franchisees. Here&#8217;s how.<\/p>\n<p>Make it a point (<em>as you&#8217;re calling franchisees as a part of your research<\/em>), to put a * next to the names of the ones you feel are the most sincere-and most helpful.<\/p>\n<p><b>Tip:<\/b> Read  <a href=\"https:\/\/www.cnbc.com\/id\/46115353\" target=\"_blank\" rel=\"noopener noreferrer\">this article I wrote for <b>CNBC<\/b><\/a> about calling franchisees-including what to ask them.<\/p>\n<p>Once you&#8217;re done calling franchisees (<em>call at least 12-15 of them<\/em>), reach out to the ones you put asterisks next to, and see if one of them will allow you to visit their franchise business in-person. But, don&#8217;t stop there.<\/p>\n<p>Tell them that you&#8217;d like to spend one full day in their business, because you&#8217;d like to experience what a day in the life of a franchisee is really like.<\/p>\n<p><b>Important!<\/b> I don&#8217;t care if you have to spend $1,000+ to travel to the franchise location. This is your chance to see, hear and feel what a franchise operation is like. What <em>yours<\/em> will be like.<\/p>\n<p><strong>My advice:<\/strong> Spend a full day with a franchisee before you sign anything. It&#8217;s a low-risk way to find out if you can &#8220;<em>see<\/em>&#8221; yourself doing this&#8230;for the next several years.<\/p>\n<p>&nbsp;<\/p>\n<h2>Bonus Advice<\/h2>\n<p>Here&#8217;s one more piece of advice you can take to the bank.<\/p>\n<p>Before you get <em>too<\/em> far down the franchise road, invest in things that can:<\/p>\n<p>Help you <strong>lower your financial risk<\/strong>, so you can sleep better at night<\/p>\n<p>Increase your chances of finding <strong>a money-making franchise<\/strong> so you can reach your dreams<\/p>\n<p>There&#8217;s no reason for you to attempt to do something as big as this all by yourself.<\/p>\n<p>Here&#8217;s to your<strong><a title=\"be a success\" href=\"https:\/\/www.thefranchiseking.com\/thefranchisesuccesskit\"> success<\/a>!<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>All of us, at some time in our lives, need advice. But we have to get it from the right source. Because not all sources are created equal. Some sources are good; some are not. Obviously. Another key point you need to realize: Your source may have an agenda, and that agenda may involve money. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":23753,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[1827,32],"tags":[737,1830],"class_list":["post-23694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-franchise-advice","category-franchise-purchasing","tag-ethics-and-transparency","tag-must-have-franchise-advice"],"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>3 Pieces Of Unimpeachable Franchise Advice You Can Take To The Bank &#8212; The Franchise King\u00ae<\/title>\n<meta name=\"description\" content=\"What follows are 3 pieces of unimpeachable franchise advice you can take to the bank. Check out these royal gems of advice.\" \/>\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\/three-pieces-of-unimpeachable-franchise-advice\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Pieces Of Unimpeachable Franchise Advice You Can Take To The Bank\" \/>\n<meta property=\"og:description\" content=\"What follows are 3 pieces of unimpeachable franchise advice you can take to the bank. Check out these royal gems of advice.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thefranchiseking.com\/three-pieces-of-unimpeachable-franchise-advice\" \/>\n<meta property=\"og:site_name\" content=\"The Franchise King\u00ae\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-05T13:09:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-07T22:58:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/you-can-take-the-franchise-kings-advice-to-the-bank.png\" \/>\n\t<meta property=\"og:image:width\" content=\"609\" \/>\n\t<meta property=\"og:image:height\" content=\"464\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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\\\/three-pieces-of-unimpeachable-franchise-advice#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/three-pieces-of-unimpeachable-franchise-advice\"},\"author\":{\"name\":\"Joel Libava\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/person\\\/b560fd324f6df9be52ac875e631beb66\"},\"headline\":\"3 Pieces Of Unimpeachable Franchise Advice You Can Take To The Bank\",\"datePublished\":\"2017-06-05T13:09:06+00:00\",\"dateModified\":\"2020-07-07T22:58:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/three-pieces-of-unimpeachable-franchise-advice\"},\"wordCount\":1297,\"commentCount\":5,\"publisher\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/three-pieces-of-unimpeachable-franchise-advice#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.thefranchiseking.com\\\/wp-content\\\/uploads\\\/you-can-take-the-franchise-kings-advice-to-the-bank.png\",\"keywords\":[\"ethics and transparency\",\"must-have franchise advice\"],\"articleSection\":[\"franchise advice\",\"Franchise Purchasing\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2017\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/three-pieces-of-unimpeachable-franchise-advice\",\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/three-pieces-of-unimpeachable-franchise-advice\",\"name\":\"3 Pieces Of Unimpeachable Franchise Advice You Can Take To The Bank &#8212; The Franchise King\u00ae\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/three-pieces-of-unimpeachable-franchise-advice#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/three-pieces-of-unimpeachable-franchise-advice#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.thefranchiseking.com\\\/wp-content\\\/uploads\\\/you-can-take-the-franchise-kings-advice-to-the-bank.png\",\"datePublished\":\"2017-06-05T13:09:06+00:00\",\"dateModified\":\"2020-07-07T22:58:01+00:00\",\"description\":\"What follows are 3 pieces of unimpeachable franchise advice you can take to the bank. 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