1135
6 min 24 sec

Q&A: Should I buy an existing franchise?

This listener is looking to start something that’s proven and established. With a Subway sandwich shop on every corner, might it be good to consider buying an existing franchise?
Subscribe Download
Franchise Q&A

Subscribe Now For A Free Five Step Tutorial

What It's About

Is purchasing a franchise a safer investment than starting your own hustle?

Notes from Chris

Episode 1135
When I was 17 one of my entrepreneurial dreams was to open a MailBoxes Etc. franchise … I surveyed the owners using AOL email addresses I found online, and asked them all kinds of cheeky questions like “How much money did they make from their franchise?” (Funny how things come full circle…)

As a recall, about a third of them actually wrote me back.

Then I grew up and did other things, realizing first of all that I didn’t have the capital (aka money) to buy my own MBE license—more on that in a bit—but also I found something that was better.

Still, franchises are everywhere. Might there be a good reason to buy into one? As you’ll hear, there might be … but there are also some pretty good reasons not to.

I’m looking for something that is proven and established, I’m wondering if I should consider opening a franchise store. There’s a Subway sandwich shop on every corner, and a Cold Stone Creamery in every shopping center. This just feels safer than trying to start my own thing, but maybe I’m missing something. What are the advantages and disadvantages of going this route? 

Listen to today's episode to learn more...

 
  SEE ALSO:

Yours in the revolution,

cg-sig-newsletter

Download Episodes By Months:

Season 8 (2024): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 7 (2023): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 6 (2022): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 5 (2021): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 4 (2020): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 3 (2019): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 2 (2018): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 1 (2017): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Resources

GET $625 IN FREE TRAVEL

Earn 50,000 travel rewards points (enough for 2 round-trip plane tickets or $625 in travel credit). You'll also earn 2x points on all travel and dining spend, with zero foreign transaction fees.

I use this card every day all over the world! ✈️


Learn More

CREATE YOUR ONLINE STORE

Create your online store with Shopify using an exclusive discount for Side Hustle School listeners. For a limited time, get a free 21-day trial and a 10% discount for a whole year.

Many Side Hustle School listeners are building sites using Shopify's easy-to-learn platform. Try it free today!

Learn More

Sponsors & Gratitude

Learn More With Skillshare!

Supporting the sponsors keeps the show free. Today’s episode of Side Hustle School is brought to you by Skillshare. 📷

Skillshare is giving Side Hustle School listeners 2 months of unlimited access—for $0.99! Join the 2 million students learning everything from street photography to SEO on Skillshare today!


Get Started Here!

Like the Show? Leave a Rating!

Side Hustle School is for you! If you’re enjoying it, please take a quick moment to leave a rating or write a quick review. It's really easy and it makes a difference! ✅

It also makes a huge difference when you tell your friends about the show. Remember, it's 100% free and listener-supported.




Here's How

Keep in Touch

There’s a new story every single day on Side Hustle School. Episodes are produced to be short and to the point—I know you’re busy. Be sure you subscribe to get instant notification of the day’s broadcast!





To infinity and beyond,

Chris Guillebeau