Franchise Ownership Myths

Wal-Mart, Framingham MA
photo credit: NNECAPA

We hear all kinds of tales and stories regarding everything in life, and it is no different when it comes to owning a business or buying a franchise, you will hear all kinds of tales and myths regarding this issue. I have compiled a list of myths below related to owning a franchise.

  • You will only be successful if your doing something you madly love. While yes, this does help but it certaintly is not required in order for you to succeed.
  • You’ll automatically pick up on the exact opportunity for you the minute you see it. If your waiting for your business to fall out of the sky, you will be waiting a long time. You have to work at business, learn and adapt to it as you go along.
  • You have no control over what happens within that franchise, the corporate people decide everything. This is one of the biggest myths that deter people from buying a franchise. Corporate control’s the general system on how the franchise works, other than that you control everything and decide everything in your franchise.

Can franchises still fail? Sure they can. But the vast majority of the time this is due to the owner deviating from the system and cutting corners by using inferior materials or altering formulas. The key to making it as a franchisee is consistency, recently stated on

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