How to Find Quality Information about Franchise Systems
In this seven minute video from Businessweek, the founder of Blue Mau Mau, Don Sniegowski, and frequent contributer Paul Steinberg, franchise attorney, are interviewed.
Don explains the origin of the name "Blue Mau Mau" as referring to a species of small fish which travels in large groups - a reference to small fish franchisee investors.
Paul correctly notes that many franchisees are bewildered after the purchase to learn of all the relevant and material information that they did not know about.
Don thinks that the new trade magazines will be more interactive. BMM has a combination of hard news and volunteer blogs.
So far, Don's dream of having prospective franchisees share and learn information seems just that. The comments on the site are still largely from disgruntled ex-franchisees who bitterly regret how they went about their due diligence.
Until large franchise systems start demanding evidence of franchisee due diligence, I fear we will never get anywhere.
