What’s a PT franchise? Compare it to PT licenses and PT affiliates

– So, “What exactly is a franchise?” and “Why is it such a good
way of doing business?” is a pretty common type
of question that we actually get at lot of the time. A lot of people don’t quite really know what franchises are, even
though we’re the most franchised country in the world, and we’re always seeing
things in the media like franchises are a more successful way of doing business. Statistically it’s proven
that small businesses are more successful if
they’re part of a franchise. So whether it be your
big-name, massive franchises or your smaller ones,
the big things franchise have in common is they all fall under the franchise code and
they all have very strict franchise agreements
and disclosure documents to show everything out
there, good and bad, about the franchise. A lot of the stuff is
there for your protection, not ours. Basically it means that we can’t over-promise and under-deliver. We have to give you what
we’re saying we’re giving you, and we’re not, basically,
allowed to lie about it. So a disclosure document, for instance, has everything in it that’s
good and bad about us, from how many franchises we’ve
got, how many we’ve lost, any legal proceedings against
us, even the phone numbers of every franchisee, good
and bad, that we’ve ever had. We’re more than happy to put
that information out there because we don’t have anything bad in it. Naturally, as some of
the bigger franchises, with hundreds or thousands
of franchises out there, they might have some
not-so-great things in there, but legal acts do have
them put it in there. So, for you, knowing what
you’re actually buying, it’s a big security thing
for you versus, say, paying rent to the gym, where
you got absolutely no idea how many disgruntled former franchisees or should we say rent
payers are out there. Really, they can say what they want, but they don’t have to
provide any evidence to prove that what they’re saying is true, and they can promise the
world, deliver an atlas, and there’s really not that
much accountablity to it because they’re not coming
under the franchise code. So with us, we’re very accountable to it, that’s the way we do business anyway, but it’s nice to know
that there are the laws behind that to actually protect you and look out for you and your business so you can grow it as big as you like.

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