BusinessWeek Special Report on Franchising
NEW YORK (Blue MauMau) - Yesterday, BusinessWeek's online magazine came out with a Special Report on a variety of topics covering the "franchise industry." It reports on everything from Is It Time to Buy A Franchise? to Franchise Owners Go to Court, the latter including the tragic story of Bob Baber, franchisee of Quiznos, who took his own life on November 27, 2006, due to financial ruin.
The reporter, Douglas MacMillan, asks, "Think buying a franchise means you get the benefits of owning a business without the risk of business failure? Think again." He tells readers that without proper due diligence, franchisees can find themselves stuck in bad business models, chained to unfavorable contracts, or victims of fraud. He reports, "Although the industry's reputation has improved in recent years (BusinessWeek.com, 4/12/05), franchising isn't necessarily safer than starting a new business."
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