Re: Franchise - fancy it?
Originally Posted by
ben-varrey
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I've often wondered about online work as I could work from home but I've always been worried about the scams. As you say, you'd need to really be sure (and how do you know if the testimonials are authentic?).
It is not just scams you have to be aware of but under-capitalisation and bad market research.
Forty years ago a couple who were friends of a friend invested/borrowed in a Mcdonald's franchise in the western suburbs of Sydney. Because they thought it was an up and coming way to print money they skimped on market research. I have long forgotten all the reasons but basically because of a bad location and business planning they went broke within 6 months.
At the end of all this the young couple, in their mid/late twenties, had a debt of something like half a million dollars which 40 years ago was a massive sum. Not the ideal way to start off your business life is it?
Like others of you here I have thought about an on line business but frankly I am too comfortably off in my retirement to bother.