The myth that owning a franchise guarantees to lower your cost of doing business due to the synergies of group purchasing that will benefit the entire franchise network is, quite sadly, the most recent addition to the Franchising Hall of Shame.
SACRAMENTO—The National Federation of Independent Business announced on Friday that it is supporting California's Senate Bill 610, a fair franchising amendment to California's existing Franchise Relations Act.
Let's play a little game. Review Blue MauMau's alphabetized directory of franchises. HERE is the link. Take a few minutes to browse and then ask yourself how many companies you recognize. When you're done, come back to this article.
Many franchisees consider themselves to be business owners. A franchisee might hire and manage employees, sign the lease on a store or restaurant, handle customers, keep the books and take home profits at the end of each month.
Many prospective franchise owners are attracted to the concept of buying a franchise because they believe it combines the freedom of owning a business with the safety of a benevolent guiding hand. Franchisors cultivate this concept. The catch phrase of the International Franchise Association is “In business for yourself, but not by yourself!”