You've asked the franchisor to help you. He's made a few visits(maybe), and given some suggestions but … you cannot get it right!
Your response is "I've been sold a lemon! I'm going to court!"
Whoa … That attitude is simply not going to help you!
Why? Because:
• Suing the franchisor is, in most cases, not a practical option.
If you go down the legal-action route, you had better have tons of money, time & fortitude to spare - you're in for a ride that you cannot imagine. And however "right" you may think you are, there is always the chance that you will lose. Legal action is a gamble!
• Selling a "dying" business means that you will take a serious financial hit. That assumes that it is in fact saleable (a huge assumption) and that the Franchisor will agree to your selling it.
Facts:
• Not every site that the franchisor selects/ approves for franchisees will be great. You may be the "lucky guy.
• Perhaps the franchised business that you purchased is NOT as great as you thought it would be - at this stage what you were told/ not told etc should not dictate all of your actions. You have a "situation" that must be dealt with. Constructively!
• The franchisor is not there to run your business for you. He may assist you deal with "run of the mill" stuff. But, unless he has available experienced management staff skilled in "fixing it", and you are paying him business-consulting fees, he simply will not have the resources to allocate to you. Very few franchisors have such resources available.
THE PROBLEM IS YOURS - YOU MUST ACT TO REMEDY A BAD SITUATION.
Moaning, praying, complaining or wishing it was different does not qualify as "acting".
Ask yourself:
• Do I have the skills & experience in order to fix my problems?
• Is my attitude positive and constructive? Problem solving is as much a "head game" as it is an ability & resources issue. The ability to "find a way" even in the worst circumstances is dependent on attitude.
• Can I afford NOT to get out of this mess?
You need to:
• Determine how you can "fix what's wrong" - Do things better!
• Determine where you can take opportunities to increase profitability, cash flow etc - Do things differently.
• Prioritise what needs to be done & when
• Consider carefully whether anything you are going to do is going to breach your franchise agreement, and the effects of such a breach
• Do it
Fixing your business may realistically be your only option. And it can often be done quite inexpensively!
The alternative may be unacceptable. It probably is, given that it probably means losing everything!
Every day that you sit on your hands will cost you more in lost dollars, eroded confidence and personal stress. TAKE ACTION. NOW.
Michael Marcus - Business and Franchise Help
Saving Franchisees. Assisting Independent Business. BEFORE it's too late!
The Franchisees Advocate Group - Australia
Business and Franchise Help - Australia
Your response is "I've been sold a lemon! I'm going to court!"
Whoa … That attitude is simply not going to help you!
Why? Because:
• Suing the franchisor is, in most cases, not a practical option.
If you go down the legal-action route, you had better have tons of money, time & fortitude to spare - you're in for a ride that you cannot imagine. And however "right" you may think you are, there is always the chance that you will lose. Legal action is a gamble!
• Selling a "dying" business means that you will take a serious financial hit. That assumes that it is in fact saleable (a huge assumption) and that the Franchisor will agree to your selling it.
Facts:
• Not every site that the franchisor selects/ approves for franchisees will be great. You may be the "lucky guy.
• Perhaps the franchised business that you purchased is NOT as great as you thought it would be - at this stage what you were told/ not told etc should not dictate all of your actions. You have a "situation" that must be dealt with. Constructively!
• The franchisor is not there to run your business for you. He may assist you deal with "run of the mill" stuff. But, unless he has available experienced management staff skilled in "fixing it", and you are paying him business-consulting fees, he simply will not have the resources to allocate to you. Very few franchisors have such resources available.
THE PROBLEM IS YOURS - YOU MUST ACT TO REMEDY A BAD SITUATION.
Moaning, praying, complaining or wishing it was different does not qualify as "acting".
Ask yourself:
• Do I have the skills & experience in order to fix my problems?
• Is my attitude positive and constructive? Problem solving is as much a "head game" as it is an ability & resources issue. The ability to "find a way" even in the worst circumstances is dependent on attitude.
• Can I afford NOT to get out of this mess?
You need to:
• Determine how you can "fix what's wrong" - Do things better!
• Determine where you can take opportunities to increase profitability, cash flow etc - Do things differently.
• Prioritise what needs to be done & when
• Consider carefully whether anything you are going to do is going to breach your franchise agreement, and the effects of such a breach
• Do it
Fixing your business may realistically be your only option. And it can often be done quite inexpensively!
The alternative may be unacceptable. It probably is, given that it probably means losing everything!
Every day that you sit on your hands will cost you more in lost dollars, eroded confidence and personal stress. TAKE ACTION. NOW.
Michael Marcus - Business and Franchise Help
Saving Franchisees. Assisting Independent Business. BEFORE it's too late!
The Franchisees Advocate Group - Australia
Business and Franchise Help - Australia
