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When considering any business or Franchise, Unless the Franchise is Proven (75% of Franchisors are successful), consider the following:
You will likely fail, and lose a lot of money (your franchise development fee, your sunk costs, and finally, your landlord will make you pay the rent for the Entire Lease term !!!)
Best advice: Buy a business or Franchise ONLY if you have some key Unfair Advantage that can make you resiliant even if adverse business conditions arise, for example
– your Customers are less Price sensitive (so if your Labor Costs increase, they can absorb price increases)
– your location gives you an almost monopoly (for example next alternative is a few miles away, making Customers value Convenience over price)
– your Location gives you native visibility (so you don’t have to spend on awareness, mktg sales)
– long/prior History with Customer Base (so no need to spend on marketing)