Are you a rule follower or a rule maker? This is one of the questions Joel Libava, known as The Franchise King, and author of How to Carefully Select a Franchise to Buy, asks in one of his recent videos. The best franchise owners are often rule followers; they prefer the systems and organization that franchises offer. He has decades of experience helping people purchase a franchise. This research guide (in digital form) is written for the person considering a franchise as a way to start a company. It is not about how to turn a business into a franchise structure.
Picking a franchise takes a lot of research, a lot of serious thinking and decision-making. If I was going to choose a franchise, I would not want to do it alone and this is what Joel is focused on: reducing anxiety for the would-be franchise owner.
* How To Properly Research a Franchise
* All About The 5 Best Reasons To Invest In One
* How To Negotiate a Lease For Your Franchise
Joel Libava has filled the eBook with ideas, links, interviews, and resources to help you figure out how to buy a franchise. Here is a sample video from his research guide.
What I liked:
Joel takes you through many of the basic, but often overlooked questions, that potential franchisees ask, or want to ask. With his advice, you’ll be ready to make the call to a franchise owner, but more important you’ll be able to ask the right questions so you don’t waste a lot of time trying to figure out if its right for you. In fact, you won’t call any franchisor until you’re pretty sure that it could be the right opportunity for you, if you follow Joel’s advice.
Full disclosure: Joel is an active and engaged member of Small Business Trends and regularly participates and contributes here. Part of what makes this guide stand out is the extra special service that Joel showers on his clients and allies. The guidebook comes with some free consulting time from Joel making it well worth the purchase price.
What could be better:
The research guide feels a little light at first pass, but once you actually spend time doing the exercises and considering Joel’s questions and advice you feel it is money well spent. Other eBooks go heavier on charts and graphs, but even still these are not run of the mill eBooks; Joel does a fine job of keeping you really engaged with his liberal use of audio podcasts, videos, and even live links to very popular and informative franchise articles.
Who it is for:
It is for would-be business owners who want to follow a system, a tested and vetted business opportunity rather than start something from scratch. Researching a franchise business is not something that you would want to move through quickly, anyway. Too many mistakes can be made, and Joel really helps you avoid them.
Learn more about Selecting a Franchise to Buy.