How do you feel about a franchisor that promises you a "mutually beneficial relationship"?
Does it make you feel (choose only one):
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If you selected "C", I'm with you!
Franchise investments are expensive -- many require your life savings, plus your signature on a note for money that you will owe even if your franchise fails, and your legally binding commitment to pay the franchisor even if your franchise falters or fails -- so I'll pass on anything that's "mutually beneficial." In fact, does that even sound like it's "mutually beneficial"?
Instead, I want a franchisor who's going to do everything possible to make my franchise business successful. Even more, I want a franchisor who has proven time after time that he or she knows how to turn franchisees into success stories, even in the worst of circumstances.
I know a franchisor will not and should not promise to make me a success, but I want the franchisor's word for doing everything possible to help me. Beyond that, I want proof that the franchisor knows how to help me succeed.
I don't expect miracles -- I'll deliver on my end by meeting the franchisor's requirements -- but please, save the "mutually beneficial relationship" hype. That might attract neophyte franchise investors, but not me!
Am I asking for too much? You tell me.
The post Does A "Mutually Beneficial Relationship" Appeal To You When Buying A Franchise? appeared first on How To Buy a Franchise.
John -
Whether its "mutually beneficial relationship" or "be in business for yourself but not by yourself" people in franchising should avoid weak sales language.
Franchise investors need to discover how franchisors are going to deliver on support and training promises before they sign their deal.
And maybe the franchise adage should be "we're all in this together separately"?
Good point, Joe. Your suggested adage is accurate!
John -
Phrases you will never hear:
1. I have terrific and mutually beneficial relationship with Comcast Cable.
2. i just love my mutually beneficial relationship with State Farm Insurance.
3. Boy do I get a lot out of my mutually beneficial relationship with the IRS.