Why Franchising? | The Fundamentals of Franchising
May 8, 2024 ·
47m 45s
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Description
In this episode Kelly Maxwell talks about the relationship between the franchisee and the franchisor and the differences of how they might see things. He talks about the legality of...
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In this episode Kelly Maxwell talks about the relationship between the franchisee and the franchisor and the differences of how they might see things. He talks about the legality of the franchise world and the history of the franchise world, explaining how it came about and what some of the brands were that made franchising famous all over the world with some of the most successful systems ever. Kelly gives 5 main points for this lesson, including 1) history and context on franchising, 2) the franchise experience through the eyes of the franchisee, 3) the experience of the franchisor, 4) the franchise relationship between the two and their financial and legal dynamic, and 5) legal and financial details of the franchising business.
“You’re responsible for your own success, whether you’re starting your own business, small business, or you’re starting a franchised business, or you’ve already been successful and you might be getting a little lazy, get your chops back. Your success could be gone tomorrow. Get back in the game, strap back up.” 39:43
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- History and context 3:25
- A brief history of franchising 9:20
- Barriers to entry are reducing dramatically 16:40
- Starting a franchising business 26:00
- Things you need 32:10
“You’re responsible for your own success, whether you’re starting your own business, small business, or you’re starting a franchised business, or you’ve already been successful and you might be getting a little lazy, get your chops back. Your success could be gone tomorrow. Get back in the game, strap back up.” 39:43
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