Buying A Franchise Business? Think twice..
If you are thinking of buying a franchise business, as I once did I’d like to suggest an alternative idea for you to consider. I’m concentrating on an online business here as I honestly believe that anyone considering going into business these day should seriously think about making it an online business rather than a bricks and mortar one.
If you have a business type already in mind then at the end of the day that will obviously determine if its going to be online or offline. If you are just researching ideas for a business however and seeing what might be a good fit for you then I hope this will be of use to you – especially if you are focused on buying a franchise business.
Franchise businesses come in all shapes and sizes. You can find franchises in every niche imaginable and can choose to go either online or offline. From my own experience buying a franchise business did not work out well and if I were able to turn back time I would have saved time and money by doing what I do now instead.
Buying A Franchise Business – Online of Offline?
An online franchise business is probably going to be along the lines of a web based e-commerce store. You’ll get a website with limited customisable elements and products to sell. You’ll usually also get some training and support on how to use the back office of your new venture, how to use the provided marketing materials and sell the products.
This all sounds great – the cost, compared to say, opening a shop is very low and it all sounds easy. In my experience it isn’t. When I first looked at buying a franchise business this is the kind of online business that I decided was for me. It makes sense to promote ready made products after all because – well – they’re already there !
What I found however was that despite having a great looking website filled with fabulous shiny products (wine in my case) it was very difficult to attract any traffic with the methods that the franchisor recommended and trained me on. Far worse than that, Google takes a pretty dim view of these types of site. In their opinion they don’t offer value to their customers that they can’t get elsewhere.
What I would recommend instead of buying a franchise business is to instead look at affiliate marketing – as an independent. This is effectively what you would be doing with an online franchise anyway but instead of being tied to a parent company, certain products and limited control of your business, you would be in complete complete control.
A Far Better Option To Buying A Franchise Business
To do that you would need to invest in training. You would need to learn how to build websites, how to drive traffic , how to leverage automated technology, use social media and a load of other things. That probably sounds a bit daunting if you were thinking that by buying a franchise business that would all be done for you.
You’d be right but here’s the absolute ideal alternative: A training platform that gives you a suite of the internet business tools that the professionals use; in depth, up to date video training on how to set up everything you need; A turnkey, high-commission business selling in-demand digital marketing training (the same training you are using) The ability to create and monetize multiple websites; The help and support, not only of the business owners and employees but of an incredible group of your peers.
This is the franchise-like Six Figure Mentors and Digital Experts Academy platform. There is nothing like it that I’m aware of and as I said I wish I had found them when I was looking at buying a franchise business online.
There are many differences here to a traditional franchise but possibly the main one is that you are not tied to promoting the product or products that a franchise is based on.
The aim is to create independent online entrepreneurs who are capable of researching any niche they like and building profitable online businesses around them. Affiliating with SFM themselves is an option – a very smart option – but is by no means the whole picture here.
If you are thinking of buying a franchise business hold off briefly and do two things: Think Online rather than traditional. Look into SFM and DEA by clicking on the link below and signing up for their free video series.
