{"id":28650,"date":"2018-08-27T16:26:38","date_gmt":"2018-08-27T16:26:38","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=28650"},"modified":"2022-04-28T20:49:00","modified_gmt":"2022-04-29T00:49:00","slug":"sleepless-nights-buying-a-franchise-is","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/sleepless-nights-buying-a-franchise-is","title":{"rendered":"The #1 Cause Of Sleepless Nights When Buying A Franchise Is&#8230;"},"content":{"rendered":"<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/sleepless-nights.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-28656\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/sleepless-nights-620x413.jpg\" alt=\"the #1 cause of sleepless nights when buying a franchise is\" width=\"650\" height=\"413\"><\/a><\/p>\n<p>There&#8217;s something you need to know about buying a franchise, and it has to do with sleep.<\/p>\n<p>It&#8217;s this:&nbsp;you&#8217;re going to have a lot of sleepless nights.<\/p>\n<p>That&#8217;s because buying a franchise is a big step. It&#8217;s something you&#8217;ve never done.<\/p>\n<p>And once you&#8217;ve done it-and you <a title=\"joel libava books\" href=\"https:\/\/www.thefranchiseking.com\/become-a-franchise-owner\">become a franchise owner<\/a>, your life will never be the same. In a good way.<\/p>\n<p>For one thing-if you do it right, <a title=\"franchise advantages\" href=\"https:\/\/www.thefranchiseking.com\/this-business-model-can-dominate-your-market\">being your own boss with a franchise<\/a> can make quite a splash in your local area.<\/p>\n<p>&nbsp;<\/p>\n<h2>Sleepless Nights Should Be Expected<\/h2>\n<p>Buying a franchise is not an easy thing to do. <a title=\"courage needed to buy a franchise\" href=\"https:\/\/www.thefranchiseking.com\/franchise-stories-terry\">It takes courage<\/a>. Business ownership isn&#8217;t for everyone.<\/p>\n<p>To be sure, you <em>are<\/em> going to have sleepless nights. It&#8217;s totally normal. Ask anyone who&#8217;s bought a franchise.<\/p>\n<p>So what is <strong>the #1 cause of sleepless nights when buying a franchise<\/strong>?<\/p>\n<p><em>It&#8217;s the fear that you bought the wrong franchise<\/em>.<\/p>\n<p>It&#8217;s those &#8220;<em>what if&#8217;s<\/em>?&#8221;<\/p>\n<p>&nbsp;<\/p>\n<h2>What If ???<\/h2>\n<p>Here are some of the thoughts that will be going through your head:<\/p>\n<ul>\n<li>What if <a title=\"franchises\" href=\"https:\/\/www.qsrmagazine.com\/franchising\" target=\"_blank\" rel=\"noopener noreferrer\">the franchise<\/a> I buy is not the right kind of business for me?<\/li>\n<li>What if it&#8217;s not right for my local area?<\/li>\n<li>What if it turns out that their products\/services aren&#8217;t very good after all?<\/li>\n<li>What if the franchise salesperson or the <a title=\"franchise brokers\" href=\"https:\/\/www.thefranchiseking.com\/what-everybody-ought-to-know-about-franchise-consultants\">franchise broker<\/a> lied to me about certain things?<\/li>\n<li>What if their &#8220;<em>support<\/em>&#8221; sucks?<\/li>\n<\/ul>\n<p>Etc.<\/p>\n<p>&nbsp;<\/p>\n<h2>It&#8217;s Totally Normal<\/h2>\n<p>Again, it&#8217;s totally normal to have fear-and a lot of it, when you&#8217;re buying a franchise.<\/p>\n<p>But, there are different levels of <a title=\"fearful\" href=\"https:\/\/www.thefranchiseking.com\/he-said-no-she-wanted-to-do-it-anyway\">fear<\/a>, as well as different causes of fear.<\/p>\n<p>For instance, most of the causes of fear have to do with loss. In this case, a fear of losing money.<\/p>\n<p>As for <em>levels<\/em> of fear, I&#8217;d put <em>not being able to sleep at night<\/em> pretty darn close to the top of the range.<\/p>\n<p><strong>It doesn&#8217;t have to be that way.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<h2>How To Remove Most Of The Fear So You Can Sleep Better At Night<\/h2>\n<p>If you want to sleep better at night when you&#8217;re buying a franchise, do these 3 things.<\/p>\n<p><strong>1.<\/strong> Only look at franchise opportunities that have a total investment amount that is under your budget.<\/p>\n<p>That means that if you decided on a maximum budget of $225,000, don&#8217;t look at $300,000 opportunities-no matter what.<\/p>\n<p>I encourage you to listen to a short radio interview I did, where I talk more about the &#8220;<em>sleepless nights<\/em>&#8221; you&#8217;re sure to have. Just click &#8220;<em>Listen Now<\/em>.&#8221;<br \/>\n&nbsp;<br \/>\n<script type=\"application\/javascript\" src=\"https:\/\/www.smallbusinessadvocate.com\/embed\/interview_widget.php?v=1&amp;f=20181001-A\"><\/script><noscript>Find interviews with Small Business experts on the <a href=\"https:\/\/www.smallbusinessadvocate.com\">Small Business Advocate<\/a> show<\/noscript><br \/>\n&nbsp;<br \/>\n<strong>2.<\/strong> Learn how to do powerful research.<\/p>\n<p><a title=\"books on franchising\" href=\"https:\/\/www.thefranchiseking.com\/definitive-guide-to-franchise-research\" target=\"_blank\" rel=\"noopener noreferrer\">Buy an eBook<\/a> that teaches specific, proven, and powerful franchise research techniques. And use them.<\/p>\n<p><strong>3.<\/strong> Use professionals along with proven business tools along the way.<\/p>\n<p>Remember; this may be the biggest investment decision you ever make. You need to be willing to pay for advice. <strong>Unbiased<\/strong> advice.<\/p>\n<p>With this in mind, if you end up needing help with your business plan, hire a local CPA who specializes in small business, or invest in the <a title=\"franchise business plans\" href=\"https:\/\/partners.liveplan.com\/the-franchise-king\" target=\"_blank\" rel=\"noopener noreferrer\">top-selling business plan software in the world<\/a>.<\/p>\n<p>You also need to make sure you <a title=\"use a franchise lawyer\" href=\"https:\/\/www.thefranchiseking.com\/top-franchise-attorneys\">hire a franchise attorney<\/a>. <strong>Not<\/strong> a business attorney-a <em>franchise<\/em> attorney.<\/p>\n<p>Finally, arrange an unbiased, <a title=\"consultations\" href=\"https:\/\/www.thefranchiseking.com\/franchise-consultations-the-franchise-king\">guaranteed franchise ownership consultation<\/a> with me. I&#8217;ll work with you to make sure you didn&#8217;t miss something in your research, so you can feel confident in your decision.<\/p>\n<p><b>So you can sleep well at night.&nbsp;<\/b><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There&rsquo;s something you need to know about buying a franchise, and it has to do with sleep. It&rsquo;s this:&nbsp;you&rsquo;re going to have a lot of sleepless nights. That&rsquo;s because buying a franchise is a big step. It&rsquo;s something you&rsquo;ve never done. And once you&rsquo;ve done it-and you become a franchise owner, your life will never [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28656,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[2123,32],"tags":[1924,1923],"class_list":["post-28650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-franchise-business","category-franchise-purchasing","tag-buy-a-franchise-with-confidence","tag-sleep-better-at-night"],"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>The #1 Cause Of Sleepless Nights When Buying A Franchise Is... &#8212; The Franchise King\u00ae<\/title>\n<meta name=\"description\" content=\"Before you buy a franchise, you have to read this from The Franchise King\u00ae. 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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\/28650","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=28650"}],"version-history":[{"count":0,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/28650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media\/28656"}],"wp:attachment":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media?parent=28650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/categories?post=28650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/tags?post=28650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}