Wealth is simply accumulated energy.
Energy needs to be stored to be used at the appropriate time by skilled, competent and experienced crisis management businesspeople.
- Every franchisee group should maintain a reserve of emergency funds.
- Do NOT buy into any franchise system fails to have this form of business risk insurance in place
Want to send a very strong signal to your franchisor?
- Do NOT immediately lawyer up or build wealth to blow it on legal work.
- Build up and keep a reserve of $250,000 minimum in a fully functioning, professionally run but franchisee-led group or network.
By collecting but not spending it, this will provide your business with its maximum preventative protection. It’ll also buy you time to a legal challenge by putting the aggressor in a “clinch” (no ear biting needed).
Predators tend to lull you into a false sense of security and then pounce when they feel you are at your weakest and brokest.
The group’s bylaws can even institutionalize this “stickiness”.
- Trust, yes.
- But Trust and verify
- And always have someone on the lookout to sound the alarm, when needed.
Call it a meerkat strategy, if you like.