The 6 Stages a Franchisee (and possibly new business owner) goes through
I work with several franchises. I'm an ex franchisor myself (I gave it away because it was just too hard) and my husband built a large franchise business which he on-sold a few years ago (because he too found it too hard). And nether of us are what you would call 'softies'
I've always loved Greg Nathan's 6 stages and decided to create some cartoon faces to describe each stage when I worked with this particular franchise. The poor franchisor has been going only a couple of years - has 4 franchises (they are very expensive to buy) - has ploughed over $1m NZ into the business AND HIS FRANCHISEES ARE NOT PAYING THE ROYALTIES!
A common stage if you check out the 6 stages
But he is majorly stressed; is facing financial challenges; doesn't want to start threatening 'breach of contract' and in such early stages doesn't want to start losing them either....
Read more Ecademy.com
Posted by Ann Andrews CSP, filed under Tool-box News and posted on 28/05/2010
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