Joe Caruso
speaker
4,639 appearances
52 recordings
1 series
first heard May 2010
last heard Oct 2012
Joe Caruso’s voice in public audio — every appearance, attributed to the second.
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Appearances
So that's how I came up with the 3.0.
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Ron, do you
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Well, you know, Ron brings up an interesting point about common sense and franchisors, and there is no test for a franchisor to go out and take before they create a franchise disclosure document in a franchise agreement and begin to sell.
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There are some states that have some requirements, but it's mostly financial.
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And I think that there is an unknown number...
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of franchisors that begin franchising, sell one or two or sell none, and fail.
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I think there are a number of franchisors out there that I would put in the category of zombie franchisors.
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They've got an FTC document.
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Maybe they're not registered in registration states.
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They're franchising, but they're not really franchising.
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And they may have a few franchisees, and I don't know if I'd want to be one of the franchisees
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zombie franchise system.
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But it is very curious, and there are many paths to becoming an ill-fated franchisor, getting the wrong advice on the front end, going to a document mill with somebody that says, I can put you a non-lawyer that will put you into franchising, and they'll do your franchise disclosure document, they'll do your franchise agreement.
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and charge you a fee something less than the attorney's fee, and you think you've saved a lot of money, but it turns out to be a false economy.
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Common sense, I think it's obvious, but in terms of how some of these franchisors get into the business, it's ill-fated from the start.
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In terms of franchise performance representations, item 19s, I'm with Ron on this one.
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I don't think there's a good reason not to have one.
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And I think if you're going to become a franchisor, you ought to have proof of concept at the get-go.
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You ought to know that it can work from a unit economics standpoint for franchisees, because if it doesn't, you're going to either fail as a franchisor or you're going to become a zombie franchisor.
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The ones that make the
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Showing 1321–1340 of 4,639 · page 67 of 232
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