now that startups are so hot what about franchise lovers?
TRANSCRIPT
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What you should know to succeed in your franchise
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Startups are hot right now. Everybody wants to be an entrepreneur. But startups are hard. @luketucker A franchise is easier right?
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Let’s start with your dream
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Do you want to be your own boss and set your own work goals?
Goals 1. Start late 2. Finish early
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Do you fantasize about an income that allows you to have a designer wardrobe or fly first class?
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Do you hate getting up in the morning to face your dead-end job? Want to put your energy into something that motivates, challenges and drives you to dreamed of luxuries?
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Have you been made redundant and want to turn that money and the next ten or twenty years of your life into something productive?
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You think buying a franchise may be the answer to your dreams because there are plenty of success stories from burger chains to real estate to retail and cafés.
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You’ve heard that franchises have anywhere from 80% to 95% better success rates than independent startup businesses.
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This is the #1 myth about franchises. Objective studies have concluded that independent and franchised businesses fail at similar rates.
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Don’t rely on a false sense of security about the risks you are taking when you invest your tens or hundreds of thousands of dollars into a franchise.
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Remember a franchise does provide a proven framework which makes getting into business easier than a startup. But is a franchise right for you?
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First, do a thorough appraisal of your own qualities. Successful franchisees share five essential qualities.
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Franchisees are: 1. Motivated and enjoy hard work. 2. Welcome challenges. 3. Self-reliant team players. 4. Cool in a crisis. 5. ‘People-oriented’ with high levels of energy and positivity.
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Second, become familiar with the six most likely causes of franchise failure.
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Third, discover the seven major pitfalls to beware of when becoming a franchisee.
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Fourth, learn the eight key advantages franchisees have over going into business for themselves.
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While many people dream of having their own business only a few actually take action to make it happen.
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There can be no success without action. Are you ready to take action? Then you are ready to succeed.
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Find the right questions to ask to be ready to succeed in my new book:
Available from:
� Amazon US � Amazon UK � Amazon
Australia � Nook � Apple
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Elleby Harper loves the possibility that there may be a kernel of information or inspiration in her writing that connects with a reader.
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