Experience with Franchises?

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August 22, 2022

by a searcher from Brigham Young University in Boise, ID, USA

Curious to hear anyone's experiences with purchasing/operating a franchise. Pros and cons?

I have recently begun looking at opportunities to purchase or start a business with a couple partners. We have been doing a few exploratory calls with franchises. Some seem too good to be true, which I'm sure they are.

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Reply by a searcher
from University of Colorado at Boulder in Georgetown, CO 80444, USA
I think I have 20 different franchise owners in my family, and I owned about 200 Domino's Pizza's for several years... Many concepts will give you access to investors if you work through territory leaders, etc. Also, certain banks will stack up on a specific concept they like, which makes access to capital a bit easier. Lastly, growth plans can unlock lower royalties and make paybacks faster... Happy to connect.
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Reply by a searcher
in Illinois, USA
There are quite a few posts in this forum addressing the question. This post from Jim is pretty , addresses the questions comprehensively. https://jimsteinsharpe.com/searching/buying-a-franchise/. I own an in-home care agency , I started with an acquisition in mind but settled with buying a new one , as I thought for my risk appetite it would be better to start a new one. It lot depends on the franchise, their staff , brand and most important - the network/ community of existing franchisees. First figure out your style and personality, some franchisor will vet that and they like to ensure you are right fit for running a franchise. Having done it, I would rather go for resale and be very selective.
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