Franchising is not for everyone, and unfortunately many franchisees don't know that until they sign the franchise agreement, pay their money, and find themselves struggling for survival.
Whether the struggle is their fault or the franchisor's fault is a moot point. The fact is, they were the wrong fit for franchising, or possibly the right fit for franchising, but wrong for the brand they bought. Now they're stuck, and they want to tell everyone about their misery.
Does anyone care? Not really.
Too many wrong franchisees . .
However, franchisors should be cautious about signing agreements with the wrong franchisees because too many wrong franchisees will make it difficult to sell more franchises.
Too often, franchisors are eager to make a sale (they need the money to meet the payroll, for example), and too often, prospective franchisees are eager to sign a franchise agreement (they need to replace a job, for example). And that level of impatience can lead to poor decisions.
Be curious to know if you are right or wrong
As a prospective franchisee, you should be curious to know what the franchisor is doing to separate the "wrong" from the "right" prospects. You should also ask where you fall in the mix and, either way, how did the franchisor come to its conclusion about you?
In my opinion, franchisors error by not using a personality profile that specifically matches prospective franchisees to opportunities. And prospective franchisees error by not demanding that the franchisor administer such profiles.
Free ebook download
In 12 Amazing Franchise Opportunities for 2015 I've written about two free franchise personality profiles with links to access them. You can get a free download of this e-book by clicking here.
