| It often amazes me that franchise buyers want to | | | | Let me explain it to you this way, my dad was a |
| get in on the ground floor of the next latest trend. | | | | fighter pilot in the United States Navy, and he told |
| They see some new, cool, and fad business that has | | | | me he felt he never wanted to fly any military |
| lines out the door, and all the sudden they decide | | | | aircraft in combat that was the first 200 of that |
| they must have one, because they see nothing but | | | | type built. In other words, he wanted to fly |
| dollar signs. After all, they think with that many | | | | something that was proven, battle ready, and |
| customers constantly in line buying the products or | | | | Murphy proof. Of course, things get much more |
| services it must be a great business. However, I | | | | serious when they are shooting live ammunition at |
| should warn you not to attempt to buy the coolest | | | | you, and heat seeking missiles, but I think you get |
| and latest trendy franchise offering. Why you ask? | | | | the point. |
| It's simple really. You see, most franchise agreements | | | | It is unwise to buy a franchise of something that is in |
| are for 10 years. That means if you buy the | | | | vogue today, but might be out of favor or flavor |
| franchisors perfect business model that supports this | | | | tomorrow. Interestingly enough, you don't have to |
| latest trend, then you are stuck with it for a decade. | | | | look very hard in the history of franchising to see all |
| You need to ask yourself in 10 years will this still be | | | | the failed franchising systems which have come and |
| the kind of business where people will be lined up at | | | | gone. In fact, you can barely pick up a franchise |
| the door buying the product and even if they will, | | | | directory of businesses for sale from any of the last |
| there will be other market entrants and competitors | | | | five years without noting that half of those |
| that you'll have to deal with, and they will definitely | | | | franchising companies no longer exist. See the point? |
| cut into your cash flow. | | | | Please consider it. |