Beware of the Franchise FranBogies!
July 29, 2009 by Sean Kelly
Filed under Business
Beware of the Franchise FranBogies!
What’s a FranBogie? FranBogies are bogus franchise statistics that a certain element of my beloved franchise 
industry has been feeding, nurturing and breeding for more than 20 years.
They are, in short, shared lies that some irreputable franchisors, franchise sales brokers, con-sultants and lazy and/or apathetic franchise writers perpetuate in order to convince prospective franchisees that buying a franchise – any franchise – is practically a risk-free investment.
According to these bogus statistics, usually attributed to the SBA or US Department of Commerce, starting an independent business leads to financial ruination while buying a franchise is a one-way ticket to health, wealth and happiness.
According to today’s post on Unhappy Franchisee (CHAMPION CLEAN Using Bogus Franchise Statistics), FranBogies are alive and well on franchise sales websites.
The article displays a real live FranBogey in its natural environment, and expounds upon the damage these pesky little buggers wreak upon unsuspecting franchise newbies and the economy. You know it’s a fine piece of reporting by the highly credible sources it draws from (like Sean Kelly’s epic Lies, Damn Lies & Franchise Statistics).
Check it out here:
CHAMPION CLEAN Using Bogus Franchise Statistics
CHAMPION CLEAN: Is This Franchise a Rip-Off?
Lies, Damn Lies & Franchise Statistics
FRANCHISE BS AWARDS: Mini Maid
WHAT DO YOU THINK? SHARE A COMMENT BELOW, WHY DON’T YA?
Graphics: FranBest Franchise Information, UnhappyFranchisee.com
Franchisors are required to provide accurate information about their franchise’s operation and financial status through the FDD, however this is not provided early on in the franchisee recruitment process, and is not freely available to the public.
The latest comprehensive report on the franchise industry (according to the IFA website) is by PricewaterhouseCoopers and dates back to 2004! Surely the industry needs a more up to date report, especially considering recent changes to the economy.
Sean,
Sean,
Your post is bogus.
I mean bogie.
I mean boogered.
Heck, it’s good.
The Franchise King
Joel Libava
Franchise Direct: I agree. Unfortunately, the news probably won’t be good and no one in franchising is willing to fund bad news gathering.
Joel: Thanks, I think. Always good to hear from the King, even when a booger reference is involved.