December 21, 2007, Newsletter Issue #95: Researching the Best Franchises

Tip of the Week

The best franchises aren't really the best unless the franchisors that operate them are up to par as well. The legal requirements necessary to become a franchisor don't at all prove that a particular business is ready and able to become a good franchisor.

Profitable franchises need to stem from a business that can be sensibly franchised. Equally as important however, is the need for skills to mentor franchises--not just run individual businesses. In other words, someone may be able to run a successful business, but not have what it takes to package that success on a larger scale and create a top franchise. A successful franchisor needs to have the resources, staff, and knowledge to support its franchises.

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