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JamesMillar, post: 260132, member: 5318 wrote:
There are some great points you have listed Paul and no doubt they would add some extra protection. At the same time (and before we make new law) we must remember that no one is forcing these franchisees into investing and signing up to the prescriptive rules within a franchise group. Your due diligence items listed above are the type of questions (and many more) that must be answered before someone invests.

Exactly, why is it every time that someone gets into trouble the expectation is that the Government has to step in and protect them. Take your own responsibility

JamesMillar, post: 260132, member: 5318 wrote:
So the question is….Why are so many people signing up to these systems and handing over significant amounts of money before they have all of the answers? I think its because they don’t know what questions to ask in the first place. Why don’t they know which questions to ask? Because they don’t get good advice and many (most) lack the capacity to undertake their own due diligence. Who’s fault is that? Caveat emptor

I agree but also add a few more reasons why people are ”stupid”(I can say that now)

* They want to live the dream of being their own boss, by doing the home work they will quickly realise this is not possible for everyone, so if I don’t investigate the dream will become a reality.

* Forums and sites like this, where everyone is spruiking the dream and saying how easy the dream is. Where the people actually providing solid advise to say that the dream may not be possible for everyone are quickly shutdown, or told how they should write their responses. I can sight many example on this forum alone where FS encourages people to think the dream is simple, whereas in reality they should be spruiking that the dream is possible but there are many pitfalls and it is not for everyone.