Franchising? Learn From Our Mistakes.
Comments (0) In 2005, my husband and I bought a food cart franchise for 200,000 pesos and paid 150,000 for a space in a mall for nine months. We shelled out some more for additional equipment and supplies, increasing our total investment to almost 400,000.
Our franchise lasted for only two years, and we never recovered our investment. It’s painful going back to where we lost a lot of money, but I hope this can help others, and heal some of my hurt as well.
Some of our mistakes were:
1. We chose a franchise that was only 11 months old. We were also blinded by the fact that the franchise had attracted almost 50 franchises in just a few months, including some celebrities. Today, I no longer see the ones in the malls and the ones along my way to work.
