Listen to gossip before buying a franchise!

Once upon a time you'd have a very good idea about the performance and reputation of the franchise you were buying before taking the plunge.

Pre-internet, the majority of franchises were out there on the high street for all to see. These days there are countless franchise opportunities advertised online, many of which are ebusinesses and ecommerce sites with no physical presence in the 'real' world.

Demand is growing and, in order to cash in fast, too many franchises are launched without proper market testing, with no idea about how they'll actually perform in the short term, never mind medium to long term.

If you're going to buy a franchise, you need to take more care than ever to make sure you're making a sensible investment. Which is why listening to gossip is a good idea!

Here's a short list of places to go online where you might find useful information, feedback, gossip, complaints etcetera about franchises. Do your research thoroughly and make sure you have a clear picture before you make a decision:

• google it and see what falls out


• search social networks like twitter and facebook


• explore local and national newspaper websites


• check franchisee forums and franchisee communities


• check companies house

Last but never least, contact existing franchisees to find out their experiences. If there aren't any existing franchisees, ask yourself why!