Monday, August 6, 2007

Franchising - reading around

Today, I found a new franchising resource: I have not examined the site in any depth but it seems fairly sober in its approach. The site also has a blog here.

Frannet says it is the franchise connection. This appears to be a for-profit site, so take that into consideration.

Entrepreneur magazine has its site here. It has free tools but you need to sign up for them. So so if you are interested in franchising and/or starting your own business.

I cannot emphasize enough that there are dangers to franchising. Franchise circulars may meet the legal criteria and still not tell the whole story. Get all the information you can before even looking at the franchise circular.

I had trouble a few weeks ago with Blue MauMau. Today everything seems to be fine and I am glad. The MauMau site may not be sober and its bloggers may not either but I find it has not sacrificed seriousness for its lack of a sober front. No reason business needs to be dull. Take a look at this example Some Franchise Agreements Make Debt Recovery Tough:

In a continuation of the opportunity to look at the financial frustrations of a failing or failed franchisee, I’m learning that all birds of a feather do in fact have different frailties. Yes, some franchise agreements are so very tough that the appearance of recovery of anything is dim. But wait. Having served tens of thousands of businesses, those franchisees served always had personal pressing obligations. Most had lease obligations, personally guaranteed. Many owed money to their ZOR. The majority had loan obligations to banks, family, or credit card debt. Vendors, other than ZOR were almost always owed some money. These liabilities appeared overwhelming, which they were.

Here’s a true story: Though I can’t use names.