Want to buy a business? If so, you’ll need franchises explained. At first, franchises seem like something only for fast food, gas stations, or hotel chains. But, in reality, a whole world of businesses are up for sale that have proven track records and could put profits into your pocket faster than starting your own business. But first, you’ll need to make sure you’re ready to own and run a franchise, as it’s not always the passive income stream investors believe it to be.
When done right, franchises offer an almost irresistible offer to young entrepreneurs or those trying to escape the corporate ladder. You can trade in your soul-sucking nine-to-five, receive top-tier support and training, and get paid a salary, all while your business grows in the background. But before you start window shopping for which hair salon, water restoration, or pool cleaning business you want to own, you’ll need to talk to someone like Greg Mohr, author of Real Freedom: Why Franchises Are Worth Considering and How They Can Be Used For Building Wealth.
Greg acts as a franchise consultant, helping match potential franchisees to a parent company that works best for their schedule, goals, and income-earning potential. You may think you know how a franchise works, what type you’d like to buy, and how much money you would make, but Greg’s in-depth, multiple-decade-long knowledge may tell you otherwise. So, if you want to run a business but don’t know where to start, Greg may be the perfect person to turn to.
00:00 Intro
01:18 The History of Franchises
07:49 Choosing the Franchise for You
16:32 The Cost of a Franchise Consultant
17:43 Types of Franchisees
21:37 Who Should Own a Franchise?
25:37 Buying, Selling, and Profiting from a Franchise
35:59 Biggest Mistakes Franchisees Make
44:41 Funding a Franchise
52:51 Connect with Greg!
53:16 Buy Your Business!
Show Notes at:
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The Benefits of Franchising vs. Starting a Business from Scratch:
www.biggerpockets.com/blog/bi...
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Buying and Growing a Small Business With Little to No Risk:
www.biggerpockets.com/blog/bi...
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The Cash-Flow Boosting Businesses that Savvy Real Estate Investors Own:
www.biggerpockets.com/blog/re...
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Connect with Greg:
Website: www.franchisemaven.com/
Book: www.amazon.com/Real-Freedom-F...
Email: Greg@franchisemaven.com
Phone: 361-772-6401
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Episode 372
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