Franchise Secrets Podcast

Are you wondering how to navigate the complex world of franchising in these uncertain times? With the looming recession, bank collapses, and tighter government regulations, it's natural to feel concerned about your future. But there's good news. 

In this week's episode of the Franchise Secrets Podcast, host Erik Van Horn chats with the "Franchise Economist" Darrell Johnson, CEO of FRANdata, a leading research and consulting firm specializing in analyzing the franchise industry. Together, they discuss the current state of the economy, banking, and how federal regulations impact franchising. They also explore how franchising can be resilient during financial uncertainty with the help of FRANdata.

Darrell has over 30 years of experience in the franchise industry and is a nationally recognized franchising authority. Under Darrell's leadership, FRANdata has evolved from a data/FDD database company to a world-class franchise-focused advisory firm. Through his work at FRANdata, Darrell has helped to promote transparency and accountability in the franchise industry, making it easier for entrepreneurs to make informed decisions about investing in a franchise.

During the podcast, Darrell provides valuable insights and tips for franchisees and franchisors on navigating complex issues that affect franchising and using reliable data to make informed decisions. So be sure to tune in to this enlightening and informative episode. 

“The franchising business model is very resilient and very flexible. What it would require is that franchisors pay close attention to what the implications are of how the banking system is changing and to take actions on them.” - Darrell Johnson

In This Episode:

- What is FRANdata and how does it help those involved in the franchising industry make informed decisions?

- The Feds' unintended consequences impacting franchising

- Will franchising survive the financial crisis?

- How the bank credit report changed the game

- How VC, PE are going to value brands (forward earnings and cost of capital)

- What do MU owners really want in a new brand (it's not what your think)

- When should franchisors be in learning mode vs leader mode?

- What does good, better and best look like?

- Take a look at the IFA 2023 Franchising Economic Report - https://www.franchise.org/sites/default/files/2023-03/2023-Franchising-Economic-Report.pdf

And more!

Resources: 

- Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com 

- Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com 

- Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com 

- Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617 

- Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617 

- The IFA 2023 Franchising Economic Report - https://www.franchise.org/sites/default/files/2023-03/2023-Franchising-Economic-Report.pdf

Connect with Darrell Johnson:

- Website - https://www.frandata.com/

- LinkedIn - https://www.linkedin.com/in/darrell-johnson-cfe

Connect with Erik Van Horn:

• Website 

• Instagram 

• Facebook 

• Facebook Group 

• LinkedIn

• YouTube

• Medium

Have you ever wondered what it takes to become a successful franchise owner? While financial acumen is undoubtedly a valuable asset, there are other crucial qualities that make a franchise owner stand out, such as building strong relationships with customers and employees. 

In this week's episode of the Franchise Secrets Podcast, Erik sits down with Salem Najjar, a visionary entrepreneur and CEO of SERVE Hospitality Group, which owns one of the largest franchise portfolios of Tropical Smoothie Cafe. With an impressive 21 franchises in Wisconsin, Illinois, and Michigan, Salem shares his secrets to success with Erik.

Salem's background as a CPA is the foundation of his financial expertise, which has helped propel his ventures to new heights. However, there's much more to Salem's success than his financial acumen. 

He discusses his franchising journey and explains why he partnered with Tropical Smoothie Cafe. Salem also reveals the key ingredients that have enabled his restaurants to flourish, leaving listeners with invaluable insights into what it takes to thrive in the competitive world of franchise ownership.

Tune in now to discover the secrets of Salem's success!

“We know if we take care of our employees, they'll take care of the customers.”  - Salem Najjar

In This Episode:

- The three criteria Salem uses when evaluating brands

- Salem reveals his leadership team breakdown

- Can you be money-driven and people-driven at the same time?

- How to let go and stop having your hands on everything

- What things can break down when scaling?

- Ensuring sustainable cash flow while growing enterprise value

- How to grow with the current economic climate

- Culture framework simplified

Books Mentioned:

- Traction by Gino Wickman - https://www.amazon.com/Traction-Get-Grip-Your-Business/dp/1936661837

- Your Next Five Moves by Patrick Bet-David - https://www.amazon.com/Your-Next-Five-Moves-Business/dp/1982154802

Resources: 

- Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com 

- Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com 

- Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com 

- Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617 

- Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617

Connect with Salem Najjar:

- Website - https://servehg.com/

Connect with Erik Van Horn:

- Website 

- Instagram

- Facebook 

- Facebook Group 

- LinkedIn

- YouTube

- Medium

When investing in a franchise or a passive income deal, you always have to follow specific criteria. 

Surprisingly, looking for fast cash flow or a substantial ROI are not the only factors to consider. 

Connections, education, and tax strategies are even more important than cash flow. And today’s guest explains why. 

Ryan Casey is a successful franchisee of Orangetheory Fitness. One of his studios is in the top twenty locations in the country, and another is number four. He’s living proof that with the right systems in place, you can create entirely passive income, thanks to franchising. 

Together with Ryan, Erik shares different takeaways on semi-absentee ownership and how to start passive investing on the right foot. 

Listen in for a list of the criteria to follow when trying to acquire a new franchise and extra skills you need to develop to make your franchise successful. 

“Franchisees should have criteria for brands they are getting into.” - Erik Van Horn

In This Episode:

- Keys to semi-absentee ownership and passive investing

- Why you should choose well-known brands rather than emerging ones

- Importance of hiring the right director of operations for your franchise

- Why cash flow ROI is not the most crucial factor when choosing a franchise

- How to ask appropriate questions and conduct due diligence when looking for deals 

- Skills needed to be a franchise owner 

Resources: 

- Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com 

- Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com 

- Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com 

- Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617 

- Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617 

Connect with Ryan Casey:

- LinkedIn - https://www.linkedin.com/in/ryan-casey-a80802a0

Connect with Erik Van Horn:

- Website - https://franchisesecrets.com/   

- Instagram - https://www.instagram.com/erikvanhorn/  

- Facebook - https://www.facebook.com/erik.v.horn/  

- Facebook Group - https://www.facebook.com/groups/franchisesecretsfb 

- LinkedIn - https://www.linkedin.com/in/evanhorn/ 

- YouTube - https://www.youtube.com/channel/UCGL_DGqEd54pcu_zgOICdSA 

- Medium - https://medium.com/@erikvanhorn 

Today, Erik is joined by entrepreneur, David Leoncavallo. David is an expert in recruiting top talent in today's market.

David breaks down how LinkedIn Sales Navigator can help franchisees and franchisors gain access to detailed profiles of potential candidates that provide insights into their work history, education and professional connections.

It also helps business owners gain valuable intel on who else has been viewing good matches for positions like CEO or CFO as well as what interests them - helping you make smart decisions about hiring execs for your organization quicker.

Franchisees and Franchisors, If you're interested in taking your executive recruitment process to the next level, then Sales Navigator is a must-have!

Did you know you can listen to the Franchise Secrets Podcast on your favorite platforms?

Spotify: https://open.spotify.com/show/4BpskQS...

Apple Podcasts: https://podcasts.apple.com/us/podcast...

Learn more about my franchisee mastermind here:

www.franchisetribe.com ⬅

Learn more about my franchisor mastermind here:

www.franchisortribe.com ⬅

Learn more about my passive investing mastermind here:

www.tribeofinvestors.com ⬅

Want to buy a franchise? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Want to franchise your business? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Don't forget to subscribe to the Franchise Secrets Youtube channel so you don't miss out on any content!

http://www.youtube.com/channel/UCGL_D....

Add Erik as a friend on Facebook:

https://www.facebook.com/erik.v.horn/

Follow Erik on Instagram:

https://www.instagram.com/erikvanhorn/

Connect with Erik on Linkedin:

https://www.linkedin.com/in/evanhorn/

Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.

If you're an entrepreneur, chances are at some point in your career, you may find yourself feeling comfortable with the status quo.

But if we want to reach our full potential and take our business to new heights, it's essential that we break out of this comfort zone mentality!

In today's episode, I am joined by author and entrepreneur, Allan Young, as he documents how a hang gliding accident that almost ended his mobility shifted his mindset and helped him bounce back to experience limitless growth in his business and walk again!

Pick up a copy of Allan's book here: https://allanyoung.com/book/

This episode is a must watch! Don't miss it!

Did you know you can listen to the Franchise Secrets Podcast on your favorite platforms?

Spotify: https://open.spotify.com/show/4BpskQS...

Apple Podcasts: https://podcasts.apple.com/us/podcast...

Learn more about my franchisee mastermind here:

www.franchisetribe.com ⬅

Learn more about my franchisor mastermind here:

www.franchisortribe.com ⬅

Learn more about my passive investing mastermind here:

www.tribeofinvestors.com ⬅

Want to buy a franchise? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Want to franchise your business? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Don't forget to subscribe to the Franchise Secrets Youtube channel so you don't miss out on any content!

http://www.youtube.com/channel/UCGL_D....

Add Erik as a friend on Facebook:

https://www.facebook.com/erik.v.horn/

Follow Erik on Instagram:

https://www.instagram.com/erikvanhorn/

Connect with Erik on Linkedin:

https://www.linkedin.com/in/evanhorn/

Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.

Have you ever wondered how to supercharge your business growth?

Operating partners can be one answer.

In this episode, Erik is joined by Nick & Molly Pastermack to explore how having a good operating partner onboard is like hitting turbo mode on your success journey.

Nick and Molly share their experience in what they look for in a solid operating partner as well as give practical advice on how you can find just the right fit for a business partner.

Want some proof it works in real life? Don't worry; there are plenty of examples in this episode!

Enjoy!

Did you know you can listen to the Franchise Secrets Podcast on your favorite platforms?

Spotify: https://open.spotify.com/show/4BpskQS...

Apple Podcasts: https://podcasts.apple.com/us/podcast...

Learn more about my franchisee mastermind here:

www.franchisetribe.com ⬅

Learn more about my franchisor mastermind here:

www.franchisortribe.com ⬅

Learn more about my passive investing mastermind here:

www.tribeofinvestors.com ⬅

Want to buy a franchise? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Want to franchise your business? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Don't forget to subscribe to the Franchise Secrets Youtube channel so you don't miss out on any content!

http://www.youtube.com/channel/UCGL_D....

Add Erik as a friend on Facebook:

https://www.facebook.com/erik.v.horn/

Follow Erik on Instagram:

https://www.instagram.com/erikvanhorn/

Connect with Erik on Linkedin:

https://www.linkedin.com/in/evanhorn/

Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.

Ready to take your business operations up a notch?

In this episode, Erik is joined by Kasim Aslam. The pair talk about why Kasim has begun hiring for key roles from global talent pools.

Kasim talks about potential cost savings that come with outsourcing certain tasks and why international workers are some of the most loyal and desirable — this video has got it all!

We'll show you exactly how offshore hiring could help transform your company's workflows into something special; don't miss out on these invaluable insights!

Enjoy the episode!

Did you know you can listen to the Franchise Secrets Podcast on your favorite platforms?

Spotify: https://open.spotify.com/show/4BpskQS...

Apple Podcasts: https://podcasts.apple.com/us/podcast...

Learn more about my franchisee mastermind here:

www.franchisetribe.com ⬅

Learn more about my franchisor mastermind here:

www.franchisortribe.com ⬅

Learn more about my passive investing mastermind here:

www.tribeofinvestors.com ⬅

Want to buy a franchise? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Want to franchise your business? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Don't forget to subscribe to the Franchise Secrets Youtube channel so you don't miss out on any content!

http://www.youtube.com/channel/UCGL_D....

Add Erik as a friend on Facebook:

https://www.facebook.com/erik.v.horn/

Follow Erik on Instagram:

https://www.instagram.com/erikvanhorn/

Connect with Erik on Linkedin:

https://www.linkedin.com/in/evanhorn/

Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.

Today, Erik is joined by friend and business partner, Jeff Herr, to talk about their company, Front Street Equity Partners, preps brands for successful launches.

Front Street Is The First And Only Pure Play Strategic Advisory & Private Equity Firm Solely Dedicated To Exponentially Growing Enterprise Brand Value In A Compressed Timeframe In The Franchise Industry.

Erik and Jeff discuss everything from the common things they notice as they advice brands, learning management systems, customer acquisition, first hires for marketing, and much more!

Enjoy this episode!

Did you know you can listen to the Franchise Secrets Podcast on your favorite platforms?

Spotify: https://open.spotify.com/show/4BpskQS...

Apple Podcasts: https://podcasts.apple.com/us/podcast...

Learn more about my franchisee mastermind here:

www.franchisetribe.com ⬅

Learn more about my franchisor mastermind here:

www.franchisortribe.com ⬅

Learn more about my passive investing mastermind here:

www.tribeofinvestors.com ⬅

Want to buy a franchise? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Want to franchise your business? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Don't forget to subscribe to the Franchise Secrets Youtube channel so you don't miss out on any content!

http://www.youtube.com/channel/UCGL_D....

Add Erik as a friend on Facebook:

https://www.facebook.com/erik.v.horn/

Follow Erik on Instagram:

https://www.instagram.com/erikvanhorn/

Connect with Erik on Linkedin:

https://www.linkedin.com/in/evanhorn/

Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.

Justin Donald is back!

Erik and Justin talk about everything from the importance of having coaches, why people think more money equals more freedom (and how to overcome that thinking), and much more!

The truth is, most people get into franchising to have freedom from what they had experienced in their 9-5. The sad reality is that most in franchising ended up purchasing themselves a job.

This episode will help you think at a higher level to assess what you need to do to be able to work ON your business rather than IN your business!

Enjoy the episode!

Did you know you can listen to the Franchise Secrets Podcast on your favorite platforms?

Spotify: https://open.spotify.com/show/4BpskQS...

Apple Podcasts: https://podcasts.apple.com/us/podcast...

Learn more about my franchisee mastermind here:

www.franchisetribe.com ⬅

Learn more about my franchisor mastermind here:

www.franchisortribe.com ⬅

Learn more about my passive investing mastermind here:

www.tribeofinvestors.com ⬅

Want to buy a franchise? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Want to franchise your business? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Don't forget to subscribe to the Franchise Secrets Youtube channel so you don't miss out on any content!

http://www.youtube.com/channel/UCGL_D....

Add Erik as a friend on Facebook:

https://www.facebook.com/erik.v.horn/

Follow Erik on Instagram:

https://www.instagram.com/erikvanhorn/

Connect with Erik on Linkedin:

https://www.linkedin.com/in/evanhorn/

Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.

We've all seen the explosion of AI in recent months.

There is lots of talk about how to use it, dos and don'ts, and all kinds people trying to figure out how to monetize it as quickly as possible.

How is AI being used in franchising?

That's where my friend @bennettmaxwell6367 comes in.

Many of you know that Bennett has been crushing it as the franchisor of @dirtydough cookies, but you may not know about the steps he is taking to implement AI tech into his process to put money back into the pockets of his franchisees.

In this episode, Bennett and Mike Norton join me to talk about the creative strategies they are using to put AI technology into Dirty Dough's processes to cut costs and ultimately foster a culture of happy franchisees.

If you're a franchisor looking to implement AI into your brand, this episode is sure to spark some great ideas!

If you're a franchisee wondering how AI could help your franchisor, this will be a great episode for you too!

Enjoy the show!

Did you know you can listen to the Franchise Secrets Podcast on your favorite platforms?

Spotify: https://open.spotify.com/show/4BpskQS...

Apple Podcasts: https://podcasts.apple.com/us/podcast...

Learn more about my franchisee mastermind here:

www.franchisetribe.com ⬅

Learn more about my franchisor mastermind here:

www.franchisortribe.com ⬅

Learn more about my passive investing mastermind here:

www.tribeofinvestors.com ⬅

Want to buy a franchise? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Want to franchise your business? Connect with me here:

https://forms.gle/n4JedEuU5p7asE617 ⬅

Don't forget to subscribe to the Franchise Secrets Youtube channel so you don't miss out on any content!

http://www.youtube.com/channel/UCGL_D....

Add Erik as a friend on Facebook:

https://www.facebook.com/erik.v.horn/

Follow Erik on Instagram:

https://www.instagram.com/erikvanhorn/

Connect with Erik on Linkedin:

https://www.linkedin.com/in/evanhorn/

Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.