a s p ir e s t u d y g u id e

Discover Why 85% of Franchises Succeed

While 95% of Businesses Fail
st ep 4
By Michael Force

Rarely do people ever consider what?s involved in actually starting a business. That?s why
stats show less than 20% of new businesses survive. Without a proven system you?re working
in your business and not on it. It?s just like a job but with much more risk. The secret then is to
find an existing, proven system to leverage their success.
When you invest into a f ranchise, everything is syst ematized and scalable. It ?s Step 1, do t his. Step 2, do that and so on.
It ?s already proven to work and ot her people have done it successf ully. Think of it t his way, banks would not lend money
t o someone who doesn?t have a system because it ?s f ar t oo risky and t he odds are against t hem. They will happily lend
money f or a proven system like a f ranchise though. Learn t he dif f erence bet ween just a product and a proven syst em.

Thanks to the internet and the rapid growth in the digit al inf ormat ion sect or where people are act ually paying f or
inf ormation courses . The good thing about Digit al Altitude is t hat you?re set t o capit alize on t his t rend and leverage t his
opportunity with litt le risk because the cost to entry is minimal with massive upside. You get t he best of bot h worlds.

Question #1: Why do 95% of businesses fail?

Question #2 What are franchises so successful?

Question #3: What are the Top 3 things to look for in a franchise?

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 a s p ir e s t u d y g u id e

Discover Why 85% of Franchises Succeed

While 95% of Businesses Fail
st ep 4
By Michael Force

Take a walk down the st reet to a local business (like a cof f ee shop or mechanic) and observe t he enviornment caref ully.
Ask yourself how does a local business run dif f erent ly t han a f ranchise model with a proven syst em (e.g. McDonald's,
Subway)?
In t he space below record your observations of t he dif f erences you see and t hink about t he f ollowing cat egories:
marketing, operations, customer services, branding, account ing, f inance and so on. Feel f ree t o add your own personal
observations and af t er you f inish the exercise, see which model gives you t he highest likelihood f or success.

Local Business Franchise

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 a s p ir e s t u d y g u id e

Discover Why 85% of Franchises Succeed

While 95% of Businesses Fail
st ep 4
By Michael Force

- Local Business Exercise Continued -

Question #4: How many hours do you think the local owner works?

Question #5: Is the owner free to travel and live the life they want or chained to the business?

Question #6: How efficient are the daily processes?

Question #7: How many locals that tried to start their own business are still in business?

Question #8: Do you see value in having a proven system?