Mike shares insider knowledge of what is involved in the path from initial franchise inquiry to becoming a signed franchise, including general timelines, and most importantly, what makes a good franchisee. Mike explores the due diligence that the prospect can be doing during this time.

Mike spends some time explaining the traps of turning a passion into a vocation, and getting very real with yourself. This introspection will help your success, and the success of the franchisor as well.

Today, David Stein is going to explore the question everybody wants to know..... Can I build wealth owning a franchise?

The Answer: Maybe.

It's tricky. Is it possible? Absolutely! Are there franchisees who build wealth owning a franchise? Absolutely!

How to do this... first... pick a winner. Pick an industry that is growing, and there are plenty of verticals to choose from. But most importantly, pick a franchisor who has differentiated themselves in their vertical.

On today's Franvesting podcast, David Stein discuss how to determine which franchise would be right for you.

This is an introspective process

1) What do you want out of the business?

2) Owning a business is not a hobby.

3) How much do I have to invest, really?

4) What's my exit strategy?

5) How much risk can I take on?

6) How involved do you want to be?

7) How much do you like to work?

8) What are you good at?

On today's Franvesting podcast, David Stein interviews Ardag Tachian - Franchising Insider. Our goal at Franvesting is to help you gather the right information to make the best decision for your business investment.

Ardag addresses the following:

1) What qualities and traits are important for a potential franchisee?

2) From a franchisor perspective, what kind of questions would you like to ask a potential franchisee?

3) As a franchise prospect, what kind of questions should I be asking?

On today's Franvesting podcast, David Stein will debunk some of the common myths about buying into a franchise including:

1) Franchising is just too expensive.

2) The corporate franchisor is going to control my franchise.

3) Owning a franchise me ans no creativity.

4) I'm absolutely going to succeed.

5) You need to be an expert in the field.

David covers the basics of what is involved in buying a franchise. David explains the difference between starting a business and buying a franchise. The advantages of both, and which would work for you depends on a variety of factors as you weigh the two options.

Today, David Stein explores the internal questions a potential franchisee needs to walk through before choosing a specific franchise to invest into. Let's see what the inputs are to create your own initial self business plan.

Welcome to the Franvesting Podcast! Each week, David Stein will explore the complex world of franchising. Show guests include some of the world’s biggest brand franchisors, financing experts, franchisees and others who work day to day in the franchising world. This show is intended to help a potential franchisee figure out:

1) Is franchising for me or should I open my own small business?

2) What should I know before I choose a franchise?

3) Can I afford this and still build wealth?