Words From The Franchise King

The second person that came up to me after my seminar told me that he and his wife purchased a meal prep franchise, and just had opened their store a few months ago. This person also told me that ” In the time I have owned this franchise, I know of one franchise that closed it’s doors.” This person then shared that they wanted to try to sell their store. {After 4 months in business!}This could be a problem…. This person also said that “I wish my wife and I had met with you, first.” The meal prep industry is in trouble, and I shared my concerns with this non-well-thought-out model, before.

Do I detect a pattern?

Then this one…”I just was downsized, and I was contacted by a lady that does a similar thing that you do, Joel. She presented a couple of opportunities, and they were just ok. I called some franchise owners, but I really need to make some money quickly.” The first thing  I asked this person was this: “Was the person that you worked with to help you find a franchise, local?” This person said it was all done via phone, and he never met her. That is the first problem. This lady has no skin in the game. She lives out of state, has no idea of how the NEO market works, what franchises are needed, what type of franchises are not needed, and most importantly, never even met this person face to face! I told this person rather strongly that I would have never even invited him to my office, for an in-person consultation. He needed income immediately, and that is just not realistic during the start-up phase of a new business.

These situations illustrate to me how difficult it really is to find opportunities that are not:

A. Fads
B. The Wrong Fit
C. Just Plain Wrong

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