"Franchise ownership isn't for everyone...as a matter of fact, it's not for most people," Libava says. He gives two reasons for that statement.
The franchise industry is one that tends to be filled with hype. It's way too easy for would-be franchise owners to get sucked into what The Franchise King®, Joel Libava calls, "Franchising's Black Hole."
For years, franchise marketing mavens have peppered franchise brochures-and more recently, franchise business opportunity websites, with terms like, "turnkey opportunity," and "abusiness in a box."
Franchise businesses are neither, and part of Joel Libava's mission in life is to make sure that today's potential franchise owners understand that. Maybe that's why the editors of Entrepreneur® magazine, (the #1 selling business magazine on newsstands, with a circulation of around 600,000 according to their most recent media kit) chose to feature Joel Libava in their August 2012 magazine.
Libava, author of the book, "Become A Franchise Owner! The Start-Up Guide To Lowering Risk, Making Money, And Owning What You Do," (John Wiley & Sons, Publisher) says that potential franchise buyers need to take a couple of steps back before they start investigating franchises.
"Franchise ownership isn't for everyone...as a matter of fact, it's not for most people," Libava says. He gives two reasons for that statement. They are;
1. Most people don't have the courage to write a check for a $35,000 franchise fee, and then drive down the street to their local bank to secure another $150,000 or so for the balance of their investment.
2. Lots of people don't like the idea of having to follow rules, and franchise systems have pages and pages of them.
Libava goes on to say that,"for the right person, who has enough money to invest, and who chooses the right franchise concept, the decision to become a franchise owner can end up being a winning one."
In his role as a franchise ownership advisor, (a term he coined) Joel Libava works one on one with people who are interested in exploring franchise ownership. He teaches them how to carefully choose and properly research franchises, so they can make an intelligent decision, and sleep well at night after they do so.
Joel's mission statement says it all;
"I'm focused on making franchising more transparent by aggressively informing all who wish to become franchise owners that there's definitely risk involved, and then teaching them how to lower it through articles, eBooks, published hardcover books, podcasts and my one-on-one advisory services. I'm out to create a brand-new generation of super-successful franchisees! At the same time, I'm gently (sometimes) encouraging franchisors to only choose the best of the best franchise candidates, thereby increasing their chances of mutual success, which in turn, will lower the failure rates in franchising. "
Libava encourages all potential franchise owners to not go online to search for that perfect franchise business opportunity. Well, not until they make sure that they're cut out for franchise ownership.
From Joel Libava's Entrepreneur® magazine interview: "The first thing you (potential franchise owners) need to consider is whether you are Ok with rules. In other words, how has that 'rule' thing worked out for you in the past? For example, have you been a rule-follower in your previous positions? Were you able to abide by your company's line of thinking? Were you OK with the parameters they set?"
Good food for thought. And that's one thing about The Franchise King®; he gets you thinking.
For more information on The Franchise King®, Joel Libava, including his franchise ownership advisory services and his availability to speak to your group-your chamber of commerce et., contact him at 216-831-2610, or via email at Joel@thefranchiseking.com