{"id":28026,"date":"2018-05-05T19:44:03","date_gmt":"2018-05-05T19:44:03","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=28026"},"modified":"2021-05-18T13:59:43","modified_gmt":"2021-05-18T17:59:43","slug":"on-owning-a-franchise","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/on-owning-a-franchise","title":{"rendered":"On Owning A Franchise"},"content":{"rendered":"

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

What’s the deal with owning a franchise<\/strong>?<\/p>\n

What is it about franchising that’s so interesting?<\/p>\n

To put it another way, what’s the attraction?<\/p>\n

Keep reading to find out.<\/p>\n

Franchising<\/h2>\n

Part of the attraction is that the franchise<\/a> model is a good one. It’s been used time and time again to make money for the franchisor and<\/em> the franchisee. (AKA a win-win<\/em>) And this gentleman<\/a> made it work for his business 150 years ago.<\/p>\n

In fact, a business system as\u00a0consequential as the franchise system comes around<\/p>\n

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

I’m being serious.<\/p>\n

Do you realize how powerful franchising is?\u00a0<\/strong>How a franchise business can dominate<\/a> a local market?<\/strong><\/p>\n

Do you know how many people have been able to become their own bosses-without having to reinvent the wheel?<\/p>\n

Thousands.<\/p>\n

As in filling up entire stadiums-thousands.<\/p>\n

And the number of jobs created?<\/p>\n

Millions.<\/p>\n

All in all, franchising has made quite an impact-and not only in the U.S.<\/p>\n

That’s right; franchising has become a global<\/a> thing.<\/p>\n

(I experienced this phenomena first-hand, when last year, a businessperson from Saudi Arabia called to personally invite me to the Saudi Franchise Expo<\/a><\/em>.)<\/p>\n

The bottom line:<\/strong> franchising, and the idea of owning<\/a> a franchise, is big, and it’s only getting bigger.<\/p>\n

Heck, even robots are joining in on the action<\/a>.<\/p>\n

Why Owning A Franchise Is A Thing<\/h2>\n

Because pain<\/strong><\/span>.<\/p>\n

As in, career<\/em> pain. Like:<\/p>\n

    \n
  • Working for a mean<\/a> and\/or kooky boss<\/a><\/li>\n
  • Working at a seriously dysfunctional company<\/li>\n
  • Job hatred<\/a><\/li>\n
  • Getting downsized<\/li>\n<\/ul>\n

    Feel me?<\/p>\n

    Conversely, a small number of today’s prospective franchise owners look into owning<\/a>
    \na franchise business because they want to accomplish something.<\/p>\n

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

      \n
    • They weren’t<\/em> downsized.<\/li>\n
    • They weren’t necessarily experiencing career pain.<\/li>\n
    • They were just ready.<\/li>\n<\/ul>\n

      Ready to own what they do<\/em>.<\/p>\n

      They were ready to be their own boss<\/a>.<\/p>\n

      Which person are you?<\/p>\n

      On Owning A Franchise<\/h2>\n

      As a rule, most of the articles I write are geared towards the following:<\/p>\n

        \n
      • The right way to search for the right franchise<\/li>\n
      • How to choose a winning, profitable franchise to own<\/li>\n
      • How to do the best franchise research<\/li>\n
      • Getting a loan for your franchise business<\/li>\n
      • Writing a great franchise business plan<\/li>\n
      • Legalities and lawyers<\/li>\n
      • Franchise pros and cons<\/li>\n<\/ul>\n

        FYI:<\/strong> You can find my articles on those topics-and more at the newly created:<\/p>\n

        Royal Franchise Library<\/strong><\/a><\/p>\n

        To be sure, “how to<\/em>” articles are useful. And needed.<\/p>\n

        But when it comes to owning a franchise, I feel that it’s important for me to provide information on well…”owning a franchise<\/em>.”<\/p>\n

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

        What Is It Like To Own A Franchise?<\/h2>\n

        If you’re going to “do it<\/em>,” in other words, if you’re going to go ahead and buy a franchise, it’s crucial for you to know what it going to be like to own<\/em> a franchise.<\/i><\/p>\n

        One way you can do that is by what I call, spending “a day in the life<\/em>” of a franchise owner. And it’s fairly easy to do…if you use my franchise research* methods.<\/p>\n

        *I share a good deal of my franchise research methods and techniques for free. As a matter of fact, I’ve written dozens of articles on how to do great franchise research.<\/p>\n

        For example, there’s one on how to arrange a one-day visit<\/a> to a franchise owner’s place of business (So you actually can<\/strong> spend a day in the life of a franchise owner<\/em>).<\/p>\n

        This article<\/a> has to do with researching a brand-new franchise opportunity.<\/p>\n

        Or this one<\/a>, which I wrote for Franchise Direct, on questions you need to ask your franchise salesperson.<\/p>\n

        But in order to get a good feel for what the franchise business ownership experience is going to be like, a word or two from an “owner<\/em>” is needed.<\/p>\n

        Life As A Franchise Owner<\/h2>\n

        Chuck Flagg, who owns a Cruise Planners franchise in Atlanta, was kind enough to answer a few questions I posed to him-on being a franchise owner. Here<\/a><\/p>\n

        And here are a few “day in the life of a franchisee<\/em>” videos to watch, so you can get a better idea of what to expect if you become the owner of a franchise.<\/p>\n

        A Meineke Franchisee<\/strong><\/p>\n