Franchise Euphoria

Scott Alan Turner is a financial rockstar who went from a “money moron,” at age 22, to a self-made millionaire just 13 years later. Scott is an early retiree who spends his time helping people get out of debt faster, save more money, and retire rich. He is the radio and podcast host of The Scott Alan Turner Show, and the bestselling author of a great book called The 99 Minute Millionaire. In that book, he goes through the process and steps of how you can get out of debt, make more money, and make it last. I’m really excited to welcome Scott on as our guest today, and I’m confident that you’ll learn a lot from our conversation.

Key Takeaways:

[2:07] Like most people, Scott came out of college with very little financial knowledge.

[3:16] Scott has owned eight companies over the past 15 years.

[5:45] Scott used to work evenings and weekends on his “side-hustle.”

[7:08] Scott finds it very rewarding to help others find financial freedom.

[8:05] People kept asking Scott how to get started investing, so he wrote a book and started a podcast to teach about compound interest.

[9:04] How did Scott decide on the title of his book?

[9:49] Have at least six months worth of savings.

[12:11] The number one reason that small businesses fail is lack of capital.

[12:45] A lot of business owners make financial mistakes when they decide to grow.

[14:00] There is a healthy balance to be struck between limiting risk and leveraging debt.

[17:40] Scott takes questions via email, and answers them on his podcast.

[20:06] Decide on your long term goals, and work backward from there.

[21:10] Thanks again for listening, and please, reach out to Josh anytime through email at [email protected]. If you enjoyed this interview, please leave us a review on iTunes.

Mentioned in This Episode:

[email protected]

Scott’s Special Link for Franchise Euphoria Listeners

The Scott Alan Turner Show

Scott Alan Turner on Twitter

Today I’m excited to interview Kathy Knowles. Kathy is a speaker, trainer and consultant who teaches people about a seven-step system for creating more purpose, profit, and possibilities. She works with business owners to gain more dedicated and loyal employees and customers, and ultimately, her clients are able to make the leap onto a much bigger playing field. I hope you enjoy our interview as much as I did.

Key Takeaways:

[1:28] Kathy has a background in Human Resources, but eventually decided to dedicate her time to her passion, which is helping business owners get the right people on their team.

[2:51] Through firsthand experience, Kathy has developed a formula to hire right the first time.

[3:45] Seek out the best employees, instead of waiting for them to come to you.

[4:49] You can always work on someone’s skillset if they have the right attitude.

[5:58] Right off the bat, you should weed out applicants who don’t pay attention to detail.

[8:14] Do a “trial run” in the interview.

[10:03] Sometimes employees are doomed to fail by their superiors and a lack of leadership.

[12:33] What can business owners do to create a good work environment for Millennials?

[14:44] Many business owners have the wrong idea about how to get customers.

[16:22] What does Kathy’s seven-step process for entrepreneurs entail?

[18:48] Kathy typically works with businesses with three to fifty employees, but she even works with solo entrepreneurs.

[19:46] Many people think they need to hire an assistant before they actually do.

[23:53] Business owners must set standards of accountability for their teams.

[25:37] Connect with Kathy on her website, and please enjoy the free gift of her ebook, Find and Fill:The Ultimate Playbook for Creating Your Dream Team.

[27:44] Thanks again for listening, and please, reach out to Josh anytime through email at [email protected]. If you enjoyed this interview, please leave us a review on iTunes.

Mentioned in This Episode:

Find and Fill:The Ultimate Playbook for Creating Your Dream Team, by Kathy Knowles

Kathy Knowles’ Intuitive Strategies on Facebook

Kathy Knowles on LinkedIn

[email protected]

You’ve built a successful business, and think you’re ready to franchise it. But how can you be sure? Today our host, franchise expert and attorney Josh Brown, shares six things to consider before taking that leap, and some of them might surprise you.

Key Takeaways:

[:42] Josh is frequently asked by people if they should franchise their business.

[1:35] It’s a good idea to have two operating locations before you franchise.

[2:55] The current success of your business is a big indicator of whether or not you should franchise.

[3:25] You must understand the numbers.

[4:04] Most businesses start out very simple and aren’t based on a solid strategy.

[5:33] You should have a proven system that you can explain.

[5:50] Your system should be simple.

[6:44] Keep your eye on the focus of the business.

[7:00] You must have an operations manual.

[8:24] Josh has created an operations manual template. If you are interested in using it, email him at [email protected].

[8:51] Not all operations manuals are created equal.

[9:30] Know your market size.

[10:24] Dominate within a 100-mile radius, and then expand from there.

[12:22] What ongoing value can you as a franchisor add to your franchisees?

[15:53] Thanks again for listening, and please, reach out to Josh anytime through email at [email protected].

Mentioned in This Episode:

[email protected]

Operations manuals. We’ve talked about them before, and we’ll be diving deeper into how to implement good systems in the next several episodes. Also in this episode, Josh reminds us of why systems and processes are crucial to a successful business, and thanks his faithful listeners for tuning in after his recent break from podcasting.

Key Takeaways:

[:36] Josh is excited to be back after taking a long break from podcasting.

[2:13] A journalist recently contacted Josh to write an article about the Franchise Euphoria podcast and how it has affected his own business.

[3:26] Thank you to all of the listeners that have reached out to Josh to tell him how Franchise Euphoria has impacted their own businesses.

[4:27] If you’re interested in learning more about franchising, Josh would love to hear from you.

[5:39] Having an operations manual is crucial.

[8:27] For the next several episodes Josh will be focusing on the operations side of business.

[9:07] You have to start somewhere.

[9:28] It’s important to know your own strengths and weaknesses.

[10:14] We’re going to be talking about how specific steps to help you implement better operations in your own business.

[10:45] Thanks again for listening, and please, reach out to Josh anytime through email at [email protected].

Mentioned in This Episode:

[email protected]

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:

[email protected]

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

In this first episode of the year, Franchise Euphoria host and attorney-preneur Josh Brown, along with his daughter Sophia, teach business owners, and those hoping to start their own businesses, how they can make sure that 2017 is their best year, yet.

Key Takeaways:

[1:35] 2016 was a crazy year, and a new year is a great opportunity to set professional goals.

[3:01] How can you start 2017 off right?

[3:10] Choose the right business opportunity for you.

[5:15] Put what isn’t profitable aside.

[5:51] Make a plan.

[7:16] Keep innovating.

[9:14] Create a business that is long-lasting.

[10:30] Thanks for listening. If you enjoyed this episode, please leave us a review on iTunes.

Mentioned in This Episode:

Email Josh at: [email protected]

In this week’s episode, I’m discussing the mobile franchise business model. There seems to be a lot of interest surrounding mobile franchises right now, so I’m doing a two-part series on that topic! I sincerely believe that this business model is one that is here to stay and this podcast episode is going to explain why that is. Be sure to tune-in to learn more!

If you are interested in the mobile franchise concept, don’t forget to check out our next episode where I discuss important things you need to know before you decide to invest in this business model.

Feedback:

Have any suggestions for future shows? Have questions or a topic you would like to us to do an episode on? If so, please leave a comment.

In this week's episode, Josh is talking about taxes with Craig Cody. Craig is a Certified Tax Coach, Certified Public Accountant, Business Owner and Former New York City Police Officer with 17 years of experience on the Force. In addition to being a Certified Public Accountant for the past 15 years, he is also a Certified Tax Coach. As a Certified Tax Coach, Craig belongs to a select group of tax practitioners throughout the country who undergo extensive training and continued education on various tax planning techniques and strategies to become, as well as remain, certified. With this organization, Craig has co-authored an Amazon best seller book, Secrets of a Tax-Free Life.

Want to Get in Touch with Craig?

Website: craigcodyandcompany.com
Twitter: craigc2742
Facebook: craigcodyandcompany

Feedback:

Have any suggestions for future shows? Have questions or a topic you would like to us to do an episode on? If so, please leave a comment.

If you are a restaurant owner, you probably already know that there are a couple of different models for business growth. In the restaurant space, franchising tends to be one of the more popular models. From fast food joints to fine dining experiences, a lot of our favorite restaurants utilize the franchise model. Tune-in this week to hear Josh discuss the three things you need to know before you decide to franchise your restaurant.

In this episode, I’m discussing technology in the franchise space. It seems like hardly a day goes by where I don’t hear about some sort of new technological development. From self-driving cars, to medical breakthroughs, to augmented reality cell phone apps, technology is becoming more and more interwoven in our everyday lives. But, for most franchise systems, technology can be both a blessing and a curse. Tune in this week to hear me discuss the ways technology can both help and hurt your franchise system.

Feedback:  

Have any suggestions for future shows? Have questions or a topic you would like to us to do an episode on? If so, please leave a comment.  

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