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Franchise Startup Myths

So you’ve got the bug to start your own business, but you are hesitant to start from scratch. Purchasing a franchise may be a good move for you, but beware that you do not fall victim to the “Top 8 Franchise Startup Myths” that catch many entrepreneurs off guard.

A franchise, just like an independent small business, can fail. Success depends not on the franchise name and size but on the business savvy of the franchisee. So, to help you decide if becoming a franchisee is the right decision, let’s dispel the following eight myths about purchasing a franchise.

Myth 1) Getting a Loan Won’t Be a Problem

Myth 2) Competition Is Bad

Myth 3) Bigger Always Means Better

Myth 4) Never Be the First Franchisee in a System

Myth 5) I Don’t Need to Hire an Attorney or Accountant

Myth 6) A Popular Product or Model Always Guarantees Success

Myth 7) Managing People Will Come Naturally

Myth 8) A Franchise is a Guaranteed Success

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