Franchise: Freedom Or Fantasy?: How To Know If A Franchise Is Right For You After Your Corporate Career Paperback – June 24, 2009

STOP!! Absolutely DO NOT purchase a franchise until you have read this book!! I'm not sure if the author reads these reviews, but I hope he does so I can extend an enormous "THANK YOU." This book is extremely well written and literally packed with amazing and invaluable information on every single page. There is ZERO fluff or filler. I absolutely identified with Rena, the fictional character in the book who bought a franchise for all the wrong reasons. I realized that I was running *from* a problem rather than *toward* a goal. Mitch helped me see that with utmost clarity. After much reflection, I realized that I don't currently have what it takes to run my own franchise. I don't have the time, the know how, the negotiation skills, and most importantly the capital. I thought that I did, but after reading Mitch's sage advice, I realize now that I was kidding myself. Just because you meet a franchisor's net worth requirements does NOT necessarily mean you have the financial wherewithal to realistically start a business. This book forced me to reevaluate my strengths, weaknesses and goals. I've done that and come up energized with a true plan that I will follow on my pathway to success and financial independence. A month ago, I would have jumped into a franchise opportunity unprepared and potentially lost my life savings. But now I feel empowered to make intelligent decisions going forward. Don't let the relatively short length of this book fool you. It is *LOADED* with information, and if you approach it with a growth mindset, you will get much more than your money's worth. Again, thank you Mitch, for helping me avoid what could have been a devastating decision and instead navigating toward my true goals with patience and wisdom. All the best from Virginia

Perfect for anyone becoming interested in a jump to the franchisee world. It gets right at the needed mindset and lifestyle of the prospective franchisee and addresses the critical issues crisply and compactly, on many if not all key fronts. Mitch uses simple exercises to make certain points and totally eliminates "book lethargia" for me. Initially it may seem short, but when you are done, you have had a "stiff drink" of franchise reality, and likely some good action items should you want to continue the pursuit!

I needed to know both sides of franchising from someone who is skeptical of franchising. Franchisors are good at selling you their business. They make everything sound so easy. The author admits that some people will push on regardless of his warnings. He is right. He didn't scare me off.

Not a bad little self-published booklet. It is full of white space (including a number of blank pages), and only comes to 115 pages if you include the author's special offer for a free evaluation regarding your readiness for entrepreneurship. It is clearly a marketing tool for the author that helps him promote his coaching business geared toward helping current or former corporate executives consider or make the transition from W-2 life to self-employed life.This booklet was better than OK in my humble opinion, and as a result I cannot give it a 3-star rating (although I would like to since it is so short). The title lead me to believe it was going to cover the ins and outs of becoming a franchisee. But the coverage included is less specific than that and applies to people who want to start a small business from scratch or buy into a franchise. The expanded coverage is another reason I wanted to see more than a mere 115 pages.The book is fairly priced for what you get. Maybe it should have been a dollar or two cheaper, but it's chump change either way. There is some good content included. And for the most part it goes hand in hand with the advice I provide my SCORE-dot-org clients whether they want their own startup or to buy into a franchise.The only problem I had with this booklet was Chapter 4 entitled: The Critical Skills You Need to Succeed. The authors says these are the skills:>>High risk tolerance>>Excellent salesmanship>>An independent temperament>>Great negotiating ability>>Getting the best from people>>Displaying the right behaviors at the right timeIt is my understanding that entrepreneurs don't have to take risks. In fact, good entrepreneurs are masters at minimizing risks. So I disagree that the first skill cited above is appropriate. Small business owners can hire salesmen. So I disagree that the second skill cited above is appropriate. And is an "independent temperament" critical? I think not. And is getting the best from people critical? I think not (but it is a subset of leadership skills). Arguably the last skill cited above is critical (it is a subset of leadership skills).The critical skills I tell my clients that are necessary to start and run a business are: (1) leadership skills, including good interpersonal skills, & good communication skills, (2) financial management skills, & (3) a tolerance for lack of guarantees. Don't confuse this last skill I cite as being the same thing as having a tolerance for risk.All in all, this booklet is definitely one to read if you are seriously considering a move from corporate life to self-employment. It won't answer all your questions, but it covers some good topics and makes some good points. Another book I highly recommend you take a look at is one I read and reviewed a few years back. See Smart Women and Small Business: How to Make the Leap from Corporate Careers to the Right Small Enterprise. 4 stars!