Franchise Ownership: The Path to Freedom and Success
Hey fellow entrepreneurs!
I just finished listening to this incredible podcast episode about franchise ownership, and let me tell you, it’s got me seriously considering my options. The hosts, John Golden and Eddie Rodriguez dive deep into the world of franchising and shed light on why it might just be the golden ticket to financial independence and wealth.
One of the most eye-opening takeaways for me was the fact that franchises exist in various industries beyond just food. Eddie highlights industries like construction, wellness, CBD, pet care, and even travel. It’s mind-blowing to realize that there are already established and validated businesses waiting for us to jump in and make our mark. And here’s the kicker – over 80% of franchises opened today are still around 8 to 10 years later. Talk about a solid investment!
Technology to Marketing to Support
But what really struck a chord with me was the tremendous support that comes with franchising. From technology to marketing to operating support, franchises have got your back. It’s like having a safety net while you navigate the world of business ownership. And the best part? Franchises can cater to all kinds of goals, whether you’re looking to build a small business in your hometown or create a massive empire with multiple centers.
Now, I know what you’re thinking – does franchising mean giving up my creative freedom and being confined to a set system? Not necessarily. Eddie advises potential franchisees to embrace the idea of following a system and protocol established by the franchise company. It’s about finding a franchise that aligns with your goals and personality and creating a positive and collaborative relationship with the franchisor. It’s like a partnership or marriage, where both parties work together towards success.
But here’s a word of caution – success in franchising isn’t handed to you on a silver platter. Eddie emphasizes the need for hard work, realistic expectations, and smart decision-making. Having a clear vision of what you want out of life and your business is important. And don’t forget to closely work with the franchisor and utilize the franchise disclosure document to set realistic earnings expectations.
Now, more than ever, with the pandemic reshaping the business landscape, franchise opportunities have emerged in unexpected sectors. Eddie mentions some truly unique franchises, like a construction service business that turns garbage into dust and a physical therapy franchise specializing in balance issues. It’s all about finding your passion and aligning it.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.