Many Entrepreneurs Are Not Cut Out For Franchising, Says Joel Libava
While many people evaluate buying a franchise when they’re looking to own a business, most people, in fact, are not cut out for franchising, according to Joel Libava, who is known online under the name The Franchise King. Joel is a franchise expert, and he’s passionate about franchising.
He loves helping people find a sense of freedom and control through franchising. But not everyone is going to succeed in franchising, he says, due to two primary factors:
1. There is financial risk involved. Yes, even with a franchise there are some risk. It’s true that franchising can help you piggyback on the success of an established brand. But buying a franchise from a well known brand doesn’t always guarantee success. You will have to be dedicated, work VERY hard and maybe still even have a bit of good luck on your side.