There are a lot of statistics out there on how successful franchises are, how financially stable, how happy owners are, and if they would recommend that system to others.  I’ve been reading a lot of these statistics and they can be very contradictory. One survey says one thing while the other says the opposite. So what is the reality of the situation? Listen in to hear my thoughts.

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Social Media and Franchising

Whether you are buying a franchise or turning your business into a franchise or just engaged in an entrepreneurial venture social media is an important part of that. Social media touches upon so many aspects of any business. It is imperative that you understand how it works and how it can benefit your business.

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Whether or not you are looking to purchase a franchise or turn your business into a franchise I find that people want to move fast. There is anxiety involved with purchasing a franchise or expansion of your own business. This anxiety can push you to move fast. Let me caution you on this. Don’t flame out. Slow and steady wins the race.

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Aaron Walker from View From the Top joins me today to discuss how to find success in business and significance in life. Aaron has inspired many through his leadership, mentorship, and consistent pursuit of excellence. We discuss maintaining a feeling of balance, what success actually is, and how happiness is a choice.  Awesome interview with some amazing and impactful points. Don’t miss out!

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Does the franchise system need to be reformed? Before answering that question how much do you know about franchising. Listen in as I go over some very interesting statistics from Jeff Lefler at Franchise Grade.

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A very important consideration when you buy a franchise that virtually nobody thinks of is what happens if you are too successful. Most people that approach a business come at it from a perspective of what if I fail. Very few think about the implications of being too successful. 

I've spoken on the importance of due diligence more than once but you really cannot short change it. It can really come back to bite you.

Tune in to learn the $40,000 franchise lesson that you can hopefully avoid & a list of “must ask” questions before you buy a franchise!

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I’ve had more and more people reaching out to me that all fall into one category. They are all in a rush. They think they have found the perfect franchise and want to rush things ahead so that they won't miss out. If a franchisor can’t wait an extra week or two for your decision then it is the wrong franchise for you. A lot of thought and research must go into this decision to ensure it is the right one for you.

Don’t be in a rush to make a bad franchise decision!

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Recently I was contacted by Oregon Legislator Shemia Fagan. Ms. Fagan is currently working with several of her constituents that are franchisees. They are working on a Franchisee Bill of Rights for the state of Oregon. This would be a first of its kind bill across the country. Currently many areas have statutes and there are Federal laws that oversee that cut there are no state Franchisee Bill of Rights out there. I happily reviewed the legislation and agreed to testify before the Oregon Legislature. The information in this testimony is highly instructive and touches on some very hot topics in franchising today so I want to share it with you. Enjoy!

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Today I am sharing the best piece of business advice that I have ever received.

 Start with the end game in mind.

What that does actually mean? What does that mean for you and your franchise? Or the franchise that you are considering to purchase? Listen in to find out!

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