Have you ever entered a place like Panera or another bustling cafe or coffee shop, and seen loads of people, hanging out working on their laptops, sipping away and thought to yourself, â€œGee, Iâ€™d like to own one of these. They seem really cool and I bet they do well.â€
But then the next thought that pops up is, â€œHmm . . . wonder what one of these costs?â€
With questions like that rolling around in your head, itâ€™s a good thing that Joel Libava has written an ebook titled, â€œEssential Steps To Research A Franchise Opportunity.â€
The ebook starts with an objective overview of the benefits â€” and possible downsides â€” of franchising, listing 7 pros and 7 cons of buying a franchise. This is not a fast pitch type of book trying to convince you that you MUST plunk down a lot of money on a franchise RIGHT NOW. Rather, Joel calmly presents you with objective facts so that you can decide what is right for YOU.
For instance, did you know that if you buy a franchise opportunity and then one day want to sell it, the franchisor gets the right to approve or disapprove your buyer? If you are an entrepreneur who is fiercely independent and hates being told what to do, itâ€™s best to come face-to-face with these kinds of restrictions up front.
In Joelâ€™s very realistic and practical down-to-earth approach he asks, â€œAre you full of fear?â€ Because you should be. Itâ€™s a lot of money, a lot of time and itâ€™s your future. So being a bit fearful is a completely natural part of the process.
In my opinion, Joel has done a wonderful job of thinking things through â€” right on down to â€œD-Dayâ€ â€” the final decision day. The book guides you through the uncertainty to put you in a place of knowledge and confidence.
Image from Franchise Research Steps.