Timing is ripe for new candidates coming into the franchise world. Corporate America has displaced millions and over 10% of the workforce is now unemployed. The new word for those out of work is to “re-invent” yourself, because you have little to no chance of finding a job in the next six months. Many are consulting or changing careers, but a majority could very well end up buying a franchise. No chance of being out of work when you own your business, right? Well maybe, but no guaranty of making money either.
I am continually surprised by those individuals who call to advise they have just purchased this great franchise that nobody has ever heard of. Recently, I Googled the name of a company that a friend purchased a franchise from, I got the names of everyone on the corporate management team. As I Googled the President’s name I was surprised that this individual was being sued for a variety of reasons. Had my friend simply taken the time to search the net I think he may have changed his mind about the franchise.
Another great tool is the Google news alert feature. You can put in the companies name and you will get an email every time that it comes up in the news. I know many corporate presidents and CEO’s that utilize this feature for their competitors and key elements of their daily business. It is a way to pay attention to what goes on around you when your attention is focused somewhere else. It is a great idea when you are searching multiple franchise opportunities to use this feature.
There are many useful internet tools to assist you in your search, I find Google helpful, however, there are many other elements of the internet which could prove useful. Ripoff report is another useful internet tool that can give you any bad news on a concept or poor operation of it’s stores. Spend as much time on the internet searching for information on the concept as you do speaking with individuals from the corporate offices, you will be glad you did.