{"id":6610,"date":"2012-06-11T14:14:32","date_gmt":"2012-06-11T14:14:32","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=6610"},"modified":"2013-07-26T19:07:25","modified_gmt":"2013-07-26T19:07:25","slug":"top-franchise-fears","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/top-franchise-fears","title":{"rendered":"What Are The Top Franchise Buying Fears?"},"content":{"rendered":"

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

If the prospect of becoming the owner of your own franchise business isn’t sending occasional shivers down your spine, you’re living in a state of denial. I’ve advised millionaires<\/em> who’ve wanted to dip their toes into franchise ownership, and they<\/em> get scared.<\/p>\n

I remember working with a gentleman who was looking at the top franchise<\/strong> around, (in the franchise sector he was looking into<\/em>) who literally lost sleep the weekend before he ended up signing the franchise contract<\/a>. He had been going back and forth in his own mind on whether or not he should buy the franchise that he was laser-focused on, and like anyone I’ve worked with, wanted to make the right decision for him and his family.<\/p>\n

In his case, he had been downsized from a major company, and was not a happy camper.<\/p>\n

Downsized-what an ugly word<\/a>.<\/p>\n

Now, most<\/em> people aren’t overjoyed when they find out that their services are no longer needed; it’s happened to me.<\/p>\n

An observation;<\/strong> I’ve found that the people who have the most success after a downsizing are the ones who can let go the fastest<\/em>. The ones that hold onto their anger-which is usually justified, too long, are the ones who seem to take the longest to recover from a job loss.<\/p>\n

I wrote that my\u00a0client\u00a0wasn’t, “a happy camper<\/em>.” \u00a0He wasn’t. He was angry. He did<\/em> have some resentments. He helped his former company become more profitable. His employees liked him. He did all the right things. He just happened to be the head of a division that wasn’t deemed to be an important part of the company’s long-term strategy. Losing his job wasn’t his fault<\/em>. \u00a0However, by the time he found the franchise that he eventually ended up purchasing, his resentments were<\/em> 95% gone.<\/p>\n

 <\/p>\n

Franchise Buying Fears<\/h2>\n

My client did<\/em> have some sleepless nights…before<\/em> he wrote his $30,000 check for the upfront franchise fee. He told me that it was<\/em> a difficult thing to do. That’s right; $30,000 is a lot of money-even for a millionaire. I remember him telling me that he said, “What the hell, it’s only money<\/em>” as he wrote the check out. I guess that it was his way of adding a little humor to what was for him, and what will be for you<\/em>, a serious moment.<\/p>\n

So, what are you afraid of?\u00a0<\/strong><\/p>\n

Here are the top franchise buying fears-see if you can relate to them;<\/p>\n

    \n
  1. Fear of losing money<\/strong>– this fear is the most obvious one, and it’s palpable. There are varying degrees of this fear. Some people are afraid of losing their up-front investment<\/em>, while others have a fear of, “Losing everything<\/em>.”<\/li>\n
  2. Fear of failure<\/strong>– this one is very personal. No one wants to fail, but most of us do. (At some things<\/em>) Owning a franchise business is pretty public, especially if it’s a retail franchise<\/a> or a food franchise. If you end up becoming an owner of one of those types of franchises, and 6 months into it, you go out of business…lots of people are going to know that you failed. Which leads to #3.<\/li>\n
  3. Fear of\u00a0embarrassment<\/strong>– I’ve found that lots of people won’t even look<\/em> at something that’s as big as business ownership because they want to avoid being\u00a0embarrassed\u00a0if things don’t work out. \u00a0Think about it; lots of us avoid things because we don’t want to be looked upon by others in a negative way. No one wants to be\u00a0embarrassed, and some people go to extreme\u00a0lengths\u00a0to avoid embarrassment.<\/li>\n
  4. Fear of choosing a lose<\/strong>r- there are 3,000+ different franchise opportunities registered in the US. That’s a lot of opportunities to learn about! There are<\/em> ways to lower your risk..avoiding the losers, but none of them-even the techniques that I teach, can\u00a0guarantee success. Things like this <\/a>can happen.<\/li>\n<\/ol>\n

    There are more-the list isn’t complete.<\/p>\n

    I’d like to know what your fears are<\/strong>. What would stop you<\/em> from becoming the owner of a franchise?<\/p>\n

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

    If the prospect of becoming the owner of your own franchise business isn’t sending occasional shivers down your spine, you’re living in a state of denial. I’ve advised millionaires who’ve wanted to dip their toes into franchise ownership, and they get scared. I remember working with a gentleman who was looking at the top franchise […]<\/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":[770,14,32],"tags":[915,916,914],"class_list":["post-6610","post","type-post","status-publish","format-standard","hentry","category-before-you-sign-it","category-downsized","category-franchise-purchasing","tag-getting-downsized","tag-millionaires","tag-top-franchise-fears"],"yoast_head":"\nWhat Are The Top Franchise Buying Fears? — The Franchise King\u00ae<\/title>\n<meta name=\"description\" content=\"What Are The Top Franchise Buying Fears?\" \/>\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\/top-franchise-fears\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Are The Top Franchise Buying Fears?\" \/>\n<meta property=\"og:description\" content=\"What Are The Top Franchise Buying Fears?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thefranchiseking.com\/top-franchise-fears\" \/>\n<meta property=\"og:site_name\" content=\"The Franchise King\u00ae\" \/>\n<meta property=\"article:published_time\" content=\"2012-06-11T14:14:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-07-26T19:07:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/farm4.staticflickr.com\/3040\/2987162065_62e161ea4f.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\\\/top-franchise-fears#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/top-franchise-fears\"},\"author\":{\"name\":\"Joel Libava\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/person\\\/b560fd324f6df9be52ac875e631beb66\"},\"headline\":\"What Are The Top Franchise Buying Fears?\",\"datePublished\":\"2012-06-11T14:14:32+00:00\",\"dateModified\":\"2013-07-26T19:07:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/top-franchise-fears\"},\"wordCount\":691,\"commentCount\":3,\"publisher\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/top-franchise-fears#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/farm4.staticflickr.com\\\/3040\\\/2987162065_62e161ea4f.jpg\",\"keywords\":[\"getting downsized\",\"millionaires\",\"top franchise fears\"],\"articleSection\":[\"before you sign it\",\"downsized\",\"Franchise Purchasing\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2012\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/top-franchise-fears\",\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/top-franchise-fears\",\"name\":\"What Are The Top Franchise Buying Fears? 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