I’ve actually come around to the idea of franchises.
If you asked me 3 years ago,
I might have laughed at the idea.
I know, I know… it definitely has a certain connotation to us business owners,
I’m not saying that’s not valid—because I’ve definitely seen some horrible franchises.
Maybe we shouldn’t be so fast to write them off.
I believe that certain personality types will excel in a franchise model compared to a regular business.
And if you’re one of those people,
Why not give it a thought?
Now, to help you see where I’m coming from, I’ll give you some context on why I believe this.
My wife Bianca was a straight-A student, who got an accounting degree,
She does exceptionally well at following systems and works really well in areas that have structure and minimal grey areas.
Now, I think that she (or anyone like her) would do incredibly well in a franchise model.
I think that the part of her that dominates in being able to understand the system,
Like in accounting,
Will also be the part that helps her do well at being a franchise owner.
But on the other hand,
My story is completely different!
I started my early career as a plumber,
There was no manual and there were no systems to follow,
I was paid to complete a job, and fix an issue the client was having,
It didn’t matter how long I was there…
At the end of the day, I had to fix the problem.
So, over time my strengths developed in problem-solving.
Which today, helped me be an effective business owner.
If you are the type of person that leans into a structure who has been thinking about buying into a franchise or setting up your own within your business,
But you don’t know where to start…
You’re in luck!
In this week’s podcast episode, Grant and I are breaking down everything you need to know about being a franchise owner as well as franchising your own business.
We’ll be discussing:
– setting up a franchise
– the advantages of licensing
– our advice for those considering franchising and more!
Tune in now!
All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision
00:00 Welcome to Business and Investing
02:55 We considered buying a franchise, and here’s what we think
07:39 Personality types and franchising
12:10 Can a business owner be successful in franchising?
16:38 Successful franchises
20:52 Will Charley buy a franchise?
22:36 Setting up a franchise
29:24 The advantages of licensing
32:07 Tips and advice for people who are considering franchising
33:32 Will we start a franchise?
If you enjoyed this episode, be sure to subscribe, tune in, and share this podcast!
- Business and Investing website: https://www.businessandinvesting.com/
- Subscribe on Youtube: https://www.youtube.com/@businessandinvesting
- Subscribe on Apple Podcast: https://podcasts.apple.com/au/podcast/business-investing/id1607453342
Connect with Us:
- Join the Business and Investing Community: https://www.facebook.com/groups/440140397804480
- Follow us on Facebook: https://www.facebook.com/businessandinvestingcom
- Follow us on Instagram: https://www.instagram.com/businessandinvestingcom
- Follow us on TikTok: https://www.tiktok.com/@businessandinvestingcom
- Send your enquiries or drop by to say hello: firstname.lastname@example.org