Franchises: WYNTK

Filed in archive Trends on May 19, 2009

We talked recently about how well franchises do during a recession. To balance that I thought I'd point out this piece by Jeff Elgin on buying a franchise. Elgin looks at some things you should know about a franchise contract.

One of the things he points out is that strong franchises usually have a take-it-or-leave-it approach. Their terms are non-negotiatable.

Strong franchise companies have learned that the easiest way to administer their system with maximum benefit is to have each franchisee on the same program; this begins with a uniform contract. Don't be surprised if you're told the franchise agreement "is what it is," and that you have to sign the same contract as every other franchisee if you want to become one yourself.

He offers a number of other things to consider. You can read them here.


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