You want to be in business on your own. Either because you have no choice. You are out of work and cannot find a job. Or because you are tired of working for a boss. You are tired of knowing that any minute you can be fired and lose your job. You are tired of being told what to and when to do it. You are not a professional and your only options to your mind is either menial labor or starting your own business.
Check out franchise complaints.
Realizing that there are many risks in starting a new business and besides you can’t really decide which business to start, you opt for a franchise. You have a problem and you imagine that owning a franchise business is the solution. Did you ever consider franchise complaints? Are you so blinded by the prospect of owning a franchise that you totally forgot and ignored one of the most fundamental principals of beginning a new venture. How are others who own a franchise doing? Are they happy and financially secure. Are there any franchise complaints? How many franchise complaints are there? How were the franchise complaints resolved? Were they resolved in an amicable way for all involved?
You are so needy of owning a business and franchise is the solution, that you don’t want to look into any franchise complaints. You told yourself that anyone who has franchise complaints must either be too lazy to work the business or does not know how to run a franchise business. But you will we better. You won’t have franchise complaints because you will do a good job.
You will spend hours of investigation before you spend money on buying a new suit or a new appliance. Yet you are willing and ready to spend anywhere between $20,000.00 and $220,000.00 for a franchise without doing all you can for due diligence. The very first step in due diligence before signing the franchise contract is to investigate if there are franchise complaints.
Investigation of franchise complaints.
Franchise complaints should be investigated on two levels. First, view complaints about all and any franchise. Second, view complaints about this particular franchise which you are interested in. If your particular company of interest has proportionately much more complaints than the average franchise company then there you have a burning red flag and be careful or better yet walk away. If there are complaints and the franchisees are not happy with the results be careful don’t close your eyes and jump. Better to walk away now before you spend your life savings than to walk away two years down the track and having lost your life savings.
More about franchise complaints?
For a start remember this. Franchise companies will continue to make money whether or not you are successful with your franchise. First they make money when you purchase the franchise. Then they take their share of the gross sales whether or not you are making a net profit. The franchise company will not show you any sympathy just because after paying all the bills you are running at a loss. They will still take their share of the gross profits.
Some Jani King and Jan Pro franchisees complained about not being given worthwhile contracts. So although the company promised to give them a certain amount of contracts, they end up giving them contracts that have been quoted so low that you are not able to make a profit from the job. If you refuse to accept the job they are free from their obligation to provide you with jobs that they promised you. Because, they gave you the jobs and you refused to accept them.
For some Jani King franchisees things got even worse. After accepting a job they end up losing the contract. This is done when the area manager comes around to inspect his work and invariably will find small things wrong and tell you that since you are not serving the customer properly you cannot keep this customer. So sometimes even when you have a client you can lose the client in no time. The security that you wanted to have by joining the franchise is not there.
Franchise complaints about pulling out of a franchise ownership.
The worst part of buying a franchise is that it can be very painful and costly to back out of your commitments to a franchise. Some franchises that need to rent space to run their franchise may end up renting expensive shops with long leases that they cannot possibly afford to keep up the payments. When they stop making the rent payments they are in breach of the franchise agreement and the franchise company will buy back your business for a tiny amount of its real worth. All the contract will value for its buy back plan is the value of used machinery and product. No value will be given to the goodwill of the business. You may have been in a franchise business for 20 years or more. For sure there is goodwill value in your business. Yet, the contract calls for buy back based on the very little value of the machinery and goods.
Franchise complaints:
These are only some of the issues to think about.
Therefore:
(1) Do not feel pressured by anyone to rush into buying a franchise.
(2) Make certain that you know exactly what the escape plan for non performing franchise is.
(3) Do not trust the promises made by the company. Carefully read everything that you are told or promised.
(4) Be an informed consumer do a few Google searches for franchise complaints in general and a few Google searches for your franchise complaints specifically.
(5) Act with your brains not with your heart. Try to make inquiries from existing franchisees and use your intuition. If you feel this ain’t gonna work don’t do it.
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Buying a franchise is a very important decision. One way to insure that you are not about to make the biggest mistake in your life is to Google search for franchise complaints. The very least you will be aware of the nature of the franchise complaints and will know what to watch out for.