Franchising is on Fire - FAQs & Insights
Podcast: Franchising is on Fire – FAQs & Insights
[00:01 – 12:36] Addressing the Frequently Asked Questions about Franchising
- Kim Daley believes that franchising is a great way to achieve financial freedom and build a legacy.
- While franchising can be a great option for businesses with low fixed costs and predictable, scalable revenue, it is important to find a franchise that is a good fit for the individual owner’s skills and personality
- Some industries are better suited than others for franchise ownership, with sales being one key factor that leads to success. Have a strong franchisor behind it.
[12:37 – 43:12] Secrets to a Successful Franchise
- A good franchisor is competitive and coachable. Successful franchisors prioritize the people placed in the business and have a strong track record.
- Many people turn to franchises because they see the potential for high profits, but if the franchisor is not invested in the success of their franchisees, there is little chance for success.
- The franchising industry has become more sophisticated, allowing for vertical scalability.
[43:13 – 45:16] Closing Segment
- Interested in franchising? Kim is here to help! Connect with her through the links below.
Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/
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