WikiFranchise was created for the study franchise investments; to try to reduce failures through understanding. I jabber on about fleeting things here on FranchiseFool but WikiFranchise is what I’ve been up to this last decade or so.
Medicine advanced through the study of human and mammal physiology.
Pathology is a medical specialty which:
is the study and diagnosis of disease through examination of organs, tissues, bodily fluids, and whole bodies (autopsies).
Without studying many separate cases, very little independent information can be gathered to avoid future business failures. Patterns start to emerge and new discoveries can happen.
I worked in in both provincial psychiatric and acute care teaching hospitals in my career. I came to appreciate the value of classification, persistence and doing what you can to advance science in the service of people. I think the effect franchising has on families makes this work worthy. Not easy work, but necessary at least as a way of remembering.
As often happens in surveys, patterns emerged. I chose to categorize risky behavior (from an investor’s point of view) by describing them as best I could. John was a great help and remains as a good friend.
While some of the the stories are not very pretty and could be viewed as negative, I think it’s better to know the possible business risks you’re facing before you sign control of your life savings away as a mom-and-pop franchise investor.
Where WikiFranchise goes from here will depend on what others think.