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Originally Posted by wedouglas
I am looking to buy a franchise. You guys are crazy. If you drop some coin on an established franchise, and no what you are doing, it is 10x more secure than internet money and pays great.
Easy 100K a year if you aren't retarded.
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Hmmm...talk to me after you have owned one.
Put it this way, I bought established stores (restaurants) of an established and stable franchisor. Six months after I closed on the deal, the franchisor sold to a new group. Said new group proceeded to drain the company (illegally) and the vast majority of franchisees (over 1200) were out of business in 18 months. The big risk in owning a franchise is that you are not in control of your destiny, someone else is. It is rather analogous to buying a job.
As a result of my experience, I was a leader in forming a franchisee association and leading a lawsuit. The class action lawsuit was started 4 years ago - that was almost 1.5 million US$ ago (in business losses) and the lawsuit is still trekking its way to trial.
I have since helped many franchisees of many different brands to help organize to fight similar situations.
I have met a few happy franchisees, but more often met people who lost money or have simply laid out considerable money in order to acquire a rather low paying job. Since a job is less risky, and more likely has more freedom, get a job if you are interested in buying a franchise is my advice.