I'm sure many of you have heard of a fantastic book titled Teh E-Myth Revisited by Michael E. Gerber. This is a must read for anyone thinking about going into business for themselves. Following are some interesting points he makes about the franchise prototype in his book:

  • Franchises have a 95% success rate over the course of one year
  • Where 80% of all businesses fail in the first five years, 75% of all Business Format Franchises SUCCEED!
  • The Franchise Prototype is the model of a business that works.  The balanced model that will satisfy the Entrepreneur, the Manager, and the Technician all at once
  • It's been there in the form of a Proprietary Operating System at the heart of every extraordinary business around you, franchised or not