The American Dream is NOT Out of Reach!
According to a CNN article published on June 4th, 2014, the American Dream is officially "out of reach." CNN fielded a poll which asked people whether the American Dream -- however the respondent chose to define it -- was attainable. 59% of people responded that it was, in fact, unachievable.
In the definition of the American Dream by James Truslow Adams in 1931, "life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement" regardless of social class or circumstances of birth.
The issue at hand is that Americans are looking in the wrong places for the dream. Too often in today's society, people expect that the dream is simply going to be set out in front of them. This has never been the way to get ahead, and for that reason "opportunity" seems further and further away.
There are many ways for a person to succeed. That being said, all the paths begin with the ability to look at oneself in the mirror and realize that the person looking back is the only one who can lead the charge toward the dream.
If you're part of the 41% who believes that the dream is attainable, thank you as you're likely to be one of the Americans that continues to lead this country toward economic prosperity. For the 59%, it's time to take a look in the mirror.
Before Buying a Franchise Identify Your TRUE Investment
Your approach as a potential franchise buyer is to identify the real investment dollars you’ll need to get the franchise to profitability. The initial source of this information is Item 7 in the FDD. Item 7 is a schedule that details the estimated investment in the franchise. This schedule includes the cost of various items, including: the initial franchise fee, training related expenses, rent, insurance, professional fees for legal and accounting services, supplies, equipment, licenses and permits and additional working capital. Depending upon the specific franchise, there may be added categories. When reviewing the Item 7 schedule it’s important to know that franchisors are not required to list every type of fee or expense that might be part of the investment in the franchise but rather the likely investment needed to start the franchise. As you work to establish your investment number keep in mind the words “estimated” and “typical.” Item 7 is a guide, and as such, you should use this information accordingly.
Franchise Law for Beginners Part 2: The Implied Covenant of Good Faith and Fair Dealing
A duty to be fair or to be reasonable hardly seems to be unfair or unreasonable, but many franchisors and their attorneys believe that the implied covenant is dangerous or ill-advised and should be abolished. Their concern is that, by its very nature, a duty to act in “good faith” or to “deal fairly” or “reasonably” is inherently unclear.
New Study – Why People Who Run Franchises Are Happier
For more and more people, Sunday no longer feels like the weekend.
