Review: every entrepreneur or business-minded person must read this book
Rating: 5 out of 5
Date: 09 5, 2013
I used to think getting into the franchising business is a sure-fire way to make money--after all, brand names or businesses would not be franchises if they're not successful right? I couldn't be more wrong: like all other forms of business, franchising also has its own risks, and anyone sinking their arm in it without doing the requisite homework is setting up themselves for failure.Now I wish I already have John Hayes's `Buy "Hot" Franchises Without Getting Burned' when one of my friends franchised a food stall business selling "Chinese food on wheels", because then I would have warned him, or at least, educated him on the many pitfalls of franchising. For starters, it helps you start with the basics: what really is it you really love doing, how much money do you have, and how much time are you willing to put in? At the very least, you'll learn what to do once you've chosen a prospective company to franchise from--how you'd go about investigating it, especially its marketing and financial data, and who are the people you should speak with to weigh the pros and cons and help you make that final decision.As with other books written by Hayes (I've recently read his book on Mooney, Dover, Ohio's master carver), the writing is easy to understand, even "folksy", and very entertaining--you never feel as if you're being "preached to" by someone who knows a lot of stuff. Hayes's friendly, intimate approach in his writing is one of the qualities of this book that sets it apart from all other business books.And most importantly, Hayes's book will help you frame all the RIGHT QUESTIONS whose answers lead you to actionable information on any specific brand name or product you intend to franchise.Overall, Hayes's book is not only a life-saver, it is also an empowering, enlightening book that opens your eyes to the deeper layers of opportunity inherent in the franchising system. Read this book or gift it to any friend who may be struggling over the decision of whether or not to engage in franchising--who knows, you might be able to spare someone from a lot of heartache, or help them finally succeed. Five stars, no less.