Category View (Buying a Business)

On January 17, Trump University Professor Richard Parker wrote a post on this blog, entitled, “Seven Reasons Why Buying a New Franchise Business Is a Disastrous Mistake.” It triggered a strong response from Trump University Member 1711781, who offered arguments in support of franchise ownership. Professor Parker has now responded to member 1711781. The result is an exchange that contains a lot of valuable information for anyone contemplating business ownership. So much good information, we decided to publish it on this blog. The first installment has appeared on this blog. Today, we publish the second and final installment. Put on your thinking cap and more...

On January 17, Trump University Professor Richard Parker wrote a post on this blog, entitled Seven Reasons Why Buying a New Franchise Business Is a Disastrous Mistake. It triggered a strong response from Trump University Member 1711781, who offered arguments in support of franchise ownership. Professor Parker has now responded to member 1711781. The result is an exchange that contains a lot of valuable information for anyone contemplating business ownership. So much good information, we are publishing it today on this blog. Due to the length of this post, the post will appear in two installments: the first half today, and the second half more...

Jeff Elgin’s recent article in Entrepreneur, “Top 10 Reasons for Buying a Franchise,” takes my breath away.  Sure, there is logic behind some of the reasons he spells out for buying a franchise  - you’re also buying a recognized brand, he writes, plus receiving promises of training and advertising. But I have heard them all before and my experience tells me that buying a non-franchised business is a vastly wiser business decision every time. Further, reality dictates that not all franchisors come close to living up to the representations they make when “selling” you the concept. In fact, I put together a more...