With regret I must return to issues confronting people who find themselves professionally displaced and near panic.
Do not go out and buy a franchise!
Like locust plagues, franchise scams cloud the small business investment sky right now.
As difficult as you may think it is to believe this, anyone with nothing at all that is investment worthy can tell you the following on glossy, professional looking paperwork.
We have a proven system.
Our industry has grown by 8 % average over the last five years.
We save you from having to reinvent the wheel and give you a head start.
We will save you $ 20,000 in your first year versus starting up by yourself as an independent business.
Our training will give you the expertise and confidence you need to hit the ground at full speed.
You will get the benefit of group buying power.
All these statements will be absolutely false!
The other side of the franchise investment scam is over the hill franchises masquerading as real fresh opportunities, claiming the positive history of an established name and business network.
Killer franchise investment due diligence is not something you can afford to skip. The business issues must be vetted even more than the legal issues. Anyone can “read” a contract. All the contracts in franchising say the same things. Between draconian contract language and false claims about the business realities, thousands are losing their entire investments every month right now.
Don’t do this to yourself!