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Keith Levenson from Client Tether talking about What Startups Need to Do Before Franchising

Franchising Capital and Support Requirements

Keith and Mary discuss the significant capital requirements and support systems needed to successfully franchise a business. Keith emphasizes that a minimum of $250,000 is required to start franchising, with more capital being better. He explains that substantial resources are needed to provide ongoing support to franchisees, such as real estate assistance, operational systems, and accounting guidance. Mary notes that even service-based franchises require detailed manuals and procedures. Keith stresses the importance of protecting the brand's intellectual property and highlights humility and openness to learning as key attributes for a successful franchisor during the challenging transition from operator to franchisor.

Franchising Discussion and Resource Sharing

In the meeting, Mary and Keith discussed franchising, with Keith sharing his experiences and insights. Keith expressed his enjoyment in talking about franchising and his hope for new and exciting brands to emerge.