Hard Conversations & The Value of Real Advice
Has shopping for a new franchise opportunity ever given you sticker shock? Especially for owners who are new to franchising - the upfront costs associated with the investment might seem high. After all, the fees are typically much higher than what you’d pay to start your own independent business.
My mother, Flo Francis, passed away last month in December 2021 after a long battle with ovarian cancer. She was a wonderful woman who did a lot with her life - and who experienced a tremendous amount of success in her 85 years.
I’m a lucky dad of two great daughters, who growing up, have had a front-row seat to much of my work in the franchise industry. As children do, they absorb a lot, so they really “got” some of the key concepts around franchising and business ownership and management early - we even turned some of it into a game!
What do you remember most about your first job?
It’s an important question for franchisees who are trying to grow a business. After all, knowing where you are going is how you plan and grow!
As a former franchisor and franchisee for multiple brands, I can tell you with certainty that franchising works - and can create great opportunities for success.
But success is never guaranteed - and there are mistakes that franchisees can make along the way that can hurt their business' growth.
In my latest FranchiseWire article, I discuss four of the most common franchisee mistakes - and how to avoid them. You can check it out here: https://franchisewire.com/
Are franchise fees and royalties giving you sticker shock?
I love what I do - helping people get franchising right! And I want to do more! Those of you who know me, know that I’ve been a “reluctant consultant” in franchising for years, I like my work in speaking, coaching, and serving on boards...It's time now for me to grow my work and I’m building a system to scale and be more available. I'm working to expand my reach and positive impact to more people and franchise brands. I am becoming somewhat “less reluctant”, and focusing to be more educational, practical, and valuable. I am NOT matching buyers with franchise opportunities, rather, I am “Helping franchisors and franchisees reduce risks and improve results with levelheaded expertise”, that’s my new elevator pitch - what do you think?
Just recently, I had the opportunity to be an “influencer” in franchising at the first ever FranConnect Influencer Discovery Day that took place back on December 18th and 19th. And I want to thank Keith Gerson, the President of FranConnect, for the invitation. This was my first time participating as an “influencer”, and I did not know what to expect - it was worthwhile, quite interesting, even educational and a lot of fun!
