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Before Purchasing a Franchise, Read These Tips on "How To Not Get Scammed"

Digital Marketing

Before Purchasing a Franchise, Read These Tips on "How To Not Get Scammed"

Eric Cook by Eric Cook

Chief Digital Strategist

Contact author Full biography

Full biography

Meet Eric Cook

Eric Cook is Chief Digital Strategist at WSI and a former community banker with more than 15 years of industry experience. Since building his first bank website in 1995, Eric has helped financial institutions navigate digital marketing, website strategy, online visibility, and emerging technology. He has led his WSI agency since 2007 and is passionate about helping banks stay relevant in a rapidly changing digital world, including the growing impact of AI. Eric holds degrees from Alma College and Western Michigan University and is a graduate of the Graduate School of Banking at the University of Wisconsin-Madison, where he now serves as faculty. He also teaches and speaks nationwide on digital strategy, innovation, and AI in banking, and is the founder of The LinkedBanker, a mentoring and mastermind community for banking professionals.

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Summary:

The Internet is an incredible space for sharing information, building brands and engaging with consumers.

The Internet is an incredible space for sharing information, building brands and engaging with consumers – unfortunately, it can be difficult to tell good information from bad, and quality franchises from scams.

At WSI, an award-winning digital marketing franchise, we care about empowering you, so our team is sharing their best tips and advice to help ensure that you don’t get scammed when you buy a franchise.

Eric and Francois Spending Time Together in Madrid
Top Gun WSI consultants Eric Cook and Francois Muscat caught a few moments together while at LinkedIn training sessions in Madrid, Spain (Francois was the instructor).

WSI’S TIPS AND TRICKS ON HOW TO NOT GET SCAMMED

  • Their promises are too good to be true: It’s an old but relevant adage that “If something sounds too good to be true, it usually is”, so be wary of any franchise opportunity offering to make you a millionaire for simply signing up. Making a franchise a success takes hard work and your partner should offer you plenty of information to set realistic expectations. Don’t trust franchisees who aren’t willing to share this data – instead, look for those that offer a proven system for franchise success.
  • They don’t offer support: A great quality franchise system is about supporting franchisees in a way that just isn’t available to other small business owners. With WSI, for example, we offer access to our powerful network of existing franchises to collaborate with, a knowledgeable support system, industry partners (including Google, HubSpot, and Adobe), and quality suppliers – and that’s just a start.
  • They don’t vet potential franchise owners: A successful franchise system is built by bringing in quality partners as franchisees – if you let disreputable people join, you risk the quality of your brand and franchise system and can compromise the reputation of quality franchisees. So, don’t trust a franchise that will let everyone sign up and buy-in without a background check, extensive evaluation, and training. This is also for your own financial security to ensure that the franchise is the right fit for you – after all, it is an investment and you want to ensure that you’re buying into a quality business. At WSI, we have a 7-step discovery process for making you a part of the family, from assessing the opportunities we have available, to speaking to franchisees, going through a formal application process, and even a training program to help you hit the ground running.

Francois and Eric Discuss the WSI Lifestyle

Don’t fall for franchise scams – Speak to WSI, one of the top-ranked franchise opportunities in the world

Investing in a franchise is a serious decision and it’s critical to choose a partner who has the experience, reputation, and industry credibility to help you succeed. To find out more about WSI franchises, the high-quality, proven franchising system we offer and what the world of digital marketing has to offer you, please contact us today.

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