Insights on Franchise Investment | Why Buying In is Your Next Move
May 28, 2024 ·
38m 11s
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Description
On this episode of the Second Life Podcast, Kelly dives into all things franchising from both the corporate and the investor point of view. Franchises are extremely common and present...
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On this episode of the Second Life Podcast, Kelly dives into all things franchising from both the corporate and the investor point of view. Franchises are extremely common and present an excellent opportunity for entrepreneurs because they attract serious people who want to branch out into the industry. He talks about the entire franchise vetting process and how a good brand's process will be very detail oriented and should align with a potential purchaser on multiple fronts. Franchising allows everyday people to make great money, but that doesn't mean hard work isn't required, and Kelly shares what makes a great franchisee. Tune in to learn more about starting a franchise today!
“Buying a franchise is buying a modeled business that has been proven and has a proven financial track record. So it’s something that you know will work if you just follow the model. And you’ve both verified that by studying the franchise disclosure document, and the franchisor has vetted you and decided that in your area where you’ll be operating you can indeed be successful.” 15:45
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- What is a franchise? 2:30
- Acquiring a franchise 7:35
- The process 13:00
- Making sales and brand consistency 18:40
- Affiliate investment example 27:00
“Buying a franchise is buying a modeled business that has been proven and has a proven financial track record. So it’s something that you know will work if you just follow the model. And you’ve both verified that by studying the franchise disclosure document, and the franchisor has vetted you and decided that in your area where you’ll be operating you can indeed be successful.” 15:45
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