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“Money can’t buy happiness.” As much as this is a commonly held belief, there is still a misconception in franchising that “as long as franchisees are making money, they’re happy.” As a former franchisee and Area Developer (and now researcher), I disagree with this notion.
If a franchisee is concerned about the ongoing, long-term viability of their franchise’s concept (such as competition from an onslaught of “hot” franchises which provide a similar product or service), or they lose faith that senior management has their best interest at heart, it’s difficult to feel confident in (let alone happy about) the future (and consequently, the present). Conversely, if a franchisee believes that their franchise’s model is a good one, and that their ‘zor is supporting them, they are far more likely to “ride out” the financial rough weather caused by new competition and economic downturns.