There are several downsides to running a franchise,
Price Tag – franchises can be expensive! There is also a royalty fee and other startup expenses involved.
Rules and Regulations – you’ll be required to follow the rules, regulations, system operations, and directives of the franchise. Often you may not agree with these guidelines.
Royalty Fees – many new franchise owners don’t understand that you’ll also continue to owe your franchise royalty payments for using their name and system, and will have to contribute to marketing and advertising costs at their discretion.
Brand Reputation – any issues that a brand runs into affects your business outcomes. If a scandal rocks the national office, or another franchisee gets bad publicity, your business can be affected.
No Freedom: You don’t have the freedom to change the product line, the decoration of the store, or anything else in a franchise system. It is very restrictive and you need to follow certain rules to protect your franchise license.
Contracts – there are conditions and lists all the things you can and cannot do as a franchisee. Break one of those many requirements and you could lose your business altogether.
Here are the 3 Keys to New Online Wealth
1- Create a following (“tribe” as Seth Godin calls it). But you can do it without becoming a social media Influencer.
2- Create the content on your platform. Today this is more important than ever before. It must be a platform that you control (that eliminates YouTube, Facebook, and yes, even Instagram.
3- Create a payment button. Make sure that you are paid directly for the content that you provide.
Despite all of the social media hype, more sales transactions are still being done via email. This makes a Single Operated Newsletter the best vehicle for your online wealth creation.
A Single Operated Newsletter is cheap.
A Single Operated Newsletter is easy to track.
A Single Operated Newsletter lets you track your best customers and prospects, to focus on your marketing on them.
A Single Operated Newsletter can be set to run on auto-pilot giving you the ability to truly earn passive income.
Installing digital tools into your Single Operated Newsletter makes it a better resource for consumption and sales conversion.
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