Franchising is often viewed as a straightforward path to business expansion, where a successful model can be replicated across various locations. However, Mike Andes pointed out that the path to profitable franchising is far from straightforward. It demands meticulous planning, a deep understanding of the franchisor-franchisee relationship, and strong support systems to ensure mutual success.
In this episode, Brad and Mike talk about:
- Experiences in franchising, including challenges and strategies for success.
- How Mike implemented a P4P system to incentivize employees and improve efficiency.
- Importance of focusing on the right aspects of business at different growth stages.
- Insights into why many home service businesses struggle to reach $1 million in revenue.
Mentioned:
Website: https://www.mikeandes.com/
Youtube Channel: http://www.youtube.com/@MikeAndes/videosername
Facebook: http://www.facebook.com/themikeandes/ame
Instagram: http://www.instagram.com/themikeandes/name
TikTok: https://www.tiktok.com/@mikeandes?lang=enUsername
Links to Resources:
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