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?
Franchise Q&A

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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...

 
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Yours in the revolution,

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To infinity and beyond,

Chris Guillebeau