As with any business venture, you can not always rely on information passed casually between holes at the golf course. While 95 percent of all franchises are successful, there are several common myths that may set some franchisees up for failure. This happens when an entrepreneur enters the franchise model with high expectations only to be let down by the realities that come with any business. Its important to be realistic and deliberate in your approach to launching any new company, whether its an established brand or built from the ground up. As you weigh the pros and cons of operating a business franchise, do preliminary research and dont accept what everyone else seems to tell you, even some of the franchisors.
Myth: Franchises are a guarantee route to success in the business world.
Fact: The main reason franchises are so successful is because of their rigorous requirements. For instance, most of them require large capital investments. Many of these investments are so substantial that only serious entrepreneurs would even consider signing on. Of those who purchase one of these businesses, not all of them have the assets allowing them to wait for a return on...
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