Everyone wants to make money and not have to do too much work. However, it usually doesn’t work out that way. The saying goes “if it seems too good to be true, it probably is” plays are part here. Most people who have a successful business or who are successful in their job usually work very hard and make many sacrifices to make the money that they do.
Anything that you expect to be successful at will most likely require a great deal of effort and work. So, keep this in mind if you are considering becoming a franchisee. It is possible to be very successful at a franchise; however it usually requires effort and hard work on the franchisees part. There are many opportunities for franchising now, be sure to choose carefully and avoid potential franchise opportunity scams.
If a franchisor is telling you that you will make a large amount of money, in a short time and with little effort on your part, this is probably a scam and you should run like the wind. These can be very appealing to all of us, however if you fall prey to them, usually they will require that you pay up front and then they will most likely not deliver on all the promises they have made. Since they have your money they will not care. So, be careful to avoid offers like these.
Avoid offers like these that are advertised in daily and weekly classified sections of the newspaper or online. They may also have infomercials and ads on the TV. This is not the way that reputable franchisors advertise.
You can also avoid these potential scams by doing your homework before making any decisions on buying a franchise business! If they claim that you will make a certain amount of money, get that in writing. A verbal agreement doesn’t really mean anything. Research whether the company has had any lawsuits or other legal action taken against it. This can show you what the company has really been up to. You many also interview others who have already purchased into the company to see if it is a scam or not. These other purchasers can be a great information source. Check with the better business bureau to see if they have any unresolved complaints. However many times these scam businesses can change names or more to conceal any problems they have encountered. Make sure that you find out as much as you can about this business and the opportunity they say they can provide before making any decision.
You should also consult with an attorney or business advisor to review the prospective offer from the company before signing a contract or giving them any of your money. They may even be trying to trick you in the contract as well as run away with your money. It is better to be on the safe side!
As with any major decision, take your time! Most likely a non legitimate franchisor will try to pressure you into buying right away, saying it is a limited time offer, or if you buy now they will throw in a little extra. A legitimate franchisor will expect you to take your time.
Beware of potential franchising scams and report them if you do come into contact with one!