Joel Libava

    It Needs To Be Multiple Choice

    5843577306 06fd6132f7 n It Needs To Be Multiple Choice
    (Courtesy of albertogp123, on Flickr)

    You need to have choices. All of us do.

    If you’re looking around for a franchise to buy, don’t make the mistake of only focusing on one.

    Here’s why:

    The franchise concept you’ve been obsessing over for months now may turn out to be a

    33654171 eab9a4c2f7 n It Needs To Be Multiple Choice
    (Courtesy of Boccaccio1, on Flickr)

    Think about it.

    All the hours you’ve spent checking out their franchise website…all the time you’ve been spending in your car-driving around to scout out possible locations for your new business…

    And, all of those great daydreams you’ve been having about how your future franchise empire is going to look someday.

    May turn out to have been a waste of time.

    In other words, what if the franchise you’ve been thinking of buying turns out to be nothing even close to what you imagined it would be?

    What if your role as The Owner involves a few things that you aren’t very good at?

    Or, what if you find out-after doing great research, that it’s going to take a lot longer to make money than you originally thought?

     

    Have Other Franchise Choices

    If you only look at one franchise opportunity, you have nothing to fall back on if things don’t work out as you hoped they would. Plus, you will have nothing to compare it to.

    You need some choices.

    I talk about this topic more during my interview on The Small Business Advocate radio program that is now available for you to listen to at your leisure.

    I also discuss my franchise outlook for the next 4 years.

    Listen Now 

     

    Search Franchises Here 

     

     

    Veterans Franchise Reviews From FBR

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    (Courtesy of vox Efx, Flickr.com)
     
    Franchise Business Review, (FBR) has been in business for several years, and has amassed a large amount of franchise data.

    About FBR:

    “Franchise Business Review is the leading market research company in the franchise industry, assisting prospective franchise buyers through the examination process of today’s leading franchise systems. Before you invest in any franchise opportunity, get the facts from Franchise Business Review. Our independent franchisee satisfaction reports measure the health of any franchise system, based exclusively on the feedback of today’s franchise owners… the real franchise experts! ” – From the Franchise Business Review website

     

    Veteran Data

    The franchise industry has been aggressively targeting our military veterans the past couple of years.

    The reasons have to do with fit, and the fact that so many of them are returning and jobless.

    FBR just released an interesting report on veterans who have purchased franchises.

    According to information I found on the FBR website, the data compiled for this report, (which recognizes the top vet-friendly brands based on overall veteran franchisee satisfaction) comes from their surveys. FBR surveyed nearly 3,500 military-trained franchisees, representing 265 brands. And, FBR also interviewed franchise executives.

    FBR seems to have done a very thorough job on this important report.

    However…

    Not every franchisee who’s a military veteran in every franchise in the US was surveyed.

    So, while the report is very comprehensive, it doesn’t reflect the experiences of every veteran franchise owner.

    I like what FBR does, and I trust their data.

    So, if you’re a military veteran, and you’re thinking of franchise ownership as one of your career options, grab this franchise report.

    You’ll learn a lot.
     
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    How Good Are They Online?

    franchise online marketing 300x208 How Good Are They Online?

    Here’s something to add to your list of things to do before you sign a franchise agreement;

    Take a look at the franchise’s online expertise.

    In other words, are the things they’re doing online first-class?

     

    Your Online Experience

    Can you remember what your initial thoughts were when you first arrived at their website?

    Did you like it? Was it professional? Or, was it kind of cheesy?

    And, do you remember how easy their franchise website was to find?

    Better yet, if you found their opportunity by yourself-online, can you remember what search term you used?

     

    Google It Now

    I have a little test that you can perform, right now.

    Do a search on Google or Bing of the category the franchise concept is in.

    For example, if the franchise you’re looking into is a food franchise that specializes in burgers, type “burger franchises.” See what comes up first. (Actually, see what comes up on the search engine’s first page.) Is “your” franchise listed?

    Another search engine that you may want to try is Dogpile.

    Dogpile is a metasearch site—that means that it searches multiple engines. I use it a lot; it’s pretty good.

    The goal here is to find out just how strong the online presence is of the franchise opportunity you’re thinking of investing in…becoming the owner of.

    I’ve provided a few more ways to do so in this franchise article at SBA.Gov.

     

    franchise direct 250x250 How Good Are They Online?