Why Losing Money Was Good for Our Business – Four Lessons for New Franchisees

I have a confession – which will either positively or negatively impact my credibility. You decide. My confession is that within the first six months of operating our franchised business, we lost money. Sales were actually up a little, but profits were down (even below those of the previous franchise owner, as we had purchased a franchise already in operation). That frightened me…because the previous owner got out of the business due to not making the amount of money he had planned. Continue reading