In September of 2016 Josh wrote a blog post titled, “The Four Biggest Mistakes New Franchisors Make and How to Avoid Them.” In today’s episode, Josh goes in-depth about the number one mistake he sees people make as they try to franchise their businesses, which is simply not understanding what it means to turn a business into a franchise. Make sure that you are prepared to capitalize on the franchise model by listening and applying Josh’s advice to your own business.

 

Key Takeaways:

[3:03] You must have a clear understanding of the franchise business model before you can capitalize on it.

[4:16] You must understand the legal structure of a franchise.

[6:15] You must understand the corporate structure of your business.

[7:09] You must understand intellectual property considerations.

[8:20] You must understand the internal infrastructure of your business.

[10:26] You must understand how your own role will change as you become a franchisor.

[12:06] Thanks for joining us on the Franchise Euphoria podcast. If you enjoyed this episode, please leave us a review on iTunes.

 

Mentioned in This Episode:

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“The Four Biggest Mistakes New Franchisors Make and How to Avoid Them,” by Josh Brown