David Barnett is an author and speaker on the topic of franchising. A franchisee himself, he operated a brokerage and sold more than 36 businesses, over half of which were franchised.
Buy David’s book here: Franchise Warnings: What you really need to know before you buy
David’s story about a franchisee who struggled is a cautionary tale about a franchisee who became ill and wasn’t able to spend time in the store, which resulted in a violation of her franchisee agreement. This mean the franchisor could seize the business, and she lost her investment.
David’s number one piece of advice was familiar to listeners: before you buy into a franchise, speak to established franchisees and find out the promise and pitfalls of setting up that franchise.
Get in touch with David on Twitter at @dbarnettmoncton.