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The Dark Side of Franchising
I just finished reading a book entitled “The Dark Side of Franchising: How to Avoid Being Swindled and Make an Educating Investing Decision”. The book is a real eye-opener. The author, Robert Edwards, runs a company named Franchise City. They basically advise, consult, and recommend franchises that match the buyer’s talents, goals, and exit plans to an appropriate franchisor.
His contention is that the franchise industry should be regulated like real estate agents, doctors, and lawyers. I was shocked to learn there is absolutely no regulation in franchise sales. According to the author, the opposite is more true than not. The industry is rife with somewhere between a used car salesman and a con man.
There’s too much government in our lives and we need less, not more, government. But on the topic of franchising, that should be regulated. Even a barber or anyone who drives a car needs to be licensed.
I’ve been recently looking into franchising myself. That’s what prompted me to come into contact with Robert Edwards of Franchise City. Everything that the author said in the book, I personally experienced. I purchase the book on my own with no prompting from the author. If anyone was to consider purchasing a franchise, I would highly recommend this book.
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