Unpredicted Entrepreneur

“One of the other franchisees was amazing. He went through and introduced me to contacts in my territory that he’d been working with. Once you own a territory, it's your territory. He was really selfless. Everybody in the Donut Envy family has been incredibly selfless. We have a WhatsApp chat with all of the North DFW owners, and then we have a WhatsApp chat with all the Texas owners. We have a fa...

“One of my favorite topics to talk about is what I believe are the five common characteristics of all highly successful people. And the great thing is they're all learned skills. It isn't how you were born or what your parents were. They are:  a positive mental attitude goal-directed behavior  self-motivation  a sense of urgency  and never stop learning It is really about self-determination. I can...

“The technology we started using from the very beginning has evolved over time, but it’s really brought a lot of transparency to the families we work with. They can log in and see what caregiver is coming, what they did on their last shift, and what the care plan looks like. All of that information is available at their fingertips to help them keep track. We’ve worked with a lot of families where...

“One of the things the franchisor explained to us is, in bad economic times, you're not going to have this huge amount of people who are going to be interested in what you offer like in normal times. You have to double down on your marketing because those people don’t all go away, there’s just a smaller amount of them who are willing to and still have the financial abilities to buy what we offer....

“Don't fall in love with a business or industry, or whatever it is, early on. If you’re looking at franchises, make sure you take the time to talk to other franchisees in the system and talk to a lot of them. Ask the tough questions about worst-case scenarios as well as the positive aspects of the business. Make sure you think about your potential customer base and how that might be evolving becau...

“My networking group was very welcoming. I remember my first meeting where I had to stand up and introduce myself and I stumbled over my words. I knew what I wanted to say, but I just couldn't get it out. And slowly, I've mastered the art of explaining what I do, and they've embraced me. I'm comfortable now.” One of the things that comes up in every conversation we have with a client is their will...

“It's so fun and we've had many renewals. We have franchisees that have been with us for 10 years, and for them to ask for another five, it’s wonderful. I love that we’re also creating options for people. Listen, after 10 years, if you’ve got a thriving, booming business, you can sell it and we’ll be happy for you. Or, you can keep going and continue to build it and we’ll be happy to support you i...

“My advice is read the E-Myth by Michael Gerber. It's the first business book I ever read, and that set me on the path to franchising because that whole book is all about setting systems and processes in place. It recommends keeping the end in mind as if you're going to franchise your business, even if you never do, because that allows you to truly own a business rather than own a job. Let's face...

“Our business is in its infancy. We are truly just scratching the surface of what it is that we're doing. There is so much more growth potential here. Some of the offices across the country are well above 30 million in sales. This has set my eyes and goals towards thinking that we should be closer to 40 million at one point or another. That is extremely exciting.” Owning a franchise can offer limi...

“I hear that question a lot and I think my response is probably always the same. ‘Don’t have analysis paralysis. Don't overanalyze everything.’ If you take too much time to analyze every little detail, your opportunities may pass you by, especially in the franchising world. With these brands opening as quickly as they are, you could lose your territory and your opportunity. Ask the correct questio...

“All three of these buckets are very viable reasons to attend this conference.  The first one is you're already in a brand with multiple locations, you're not really interested in another brand, but you want to keep growing the locations you have either through organic growth or acquisitions, and you want to learn how to do that better with less stress, cheaper. This is a conference for you.  The...

“After attending that seminar, I learned the longest product offering was a two-week bathroom remodel. Every other business was windows, siding, roofing, and driveways, all quick in-and-out jobs where you could create a volume-based business. You can still make your customers happy, but you're in and out and you're onto the next project. I told myself my next business has to be a product where we'...

Cash flow and profit are not the same. Both times Jhony went into business were out of necessity because the two businesses he was working in were not properly managing their finances. The first one ran out of money and couldn’t meet payroll, and the second one was not profitable due to overspending. Starting out on the right foot with a solid business plan is key. Then, you have to go back and re...

Imagine getting involved in a concept 29 years ago when this idea emerged that chicken wings can one day be a center-of-the-plate opportunity. Wingstop now has over 1500 locations worldwide. They definitely proved the concept! And, now we have many chicken wing brands to choose from as consumers and investors. Every brand has to start somewhere. If you’re someone who wants to get in early and take...

Sharing our fall franchise convention industry updates.

I didn't even consider a resale when we first started talking. I just knew I wanted to get into my own business.

Brien and Lesli recognized a need for mobility products when they had a personal need. They felt the market was fragmented and wanted to be able to own a business that they felt helped others.

There are pros and cons to franchise brands in all stages of development. Some people are attracted to established brands and some are attracted to emerging brands like B Nutritious. Some of the advantages to joining an emerging brand are: having direct access and a relationship with the founder the opportunity to grow with the brand he potential to impact the brand with your creativity or knowled...

The systems and support of a franchise are what makes it an attractive opportunity. Many of us in franchising are not trying to, nor do we want to, reinvent the wheel. We’re looking to join something that already has forward momentum. Once there is momentum, the runway is much shorter. We don’t know what we don’t know, and if we’re trying to figure it out by ourselves it can be daunting. Even with...

This is the last business I thought I’d own

Health and wellness franchises are on the rise. We’re living longer as a society and want to live healthy, active lifestyles. In order to do that, we must take care of ourselves. Post-Covid, there is more awareness than ever about taking care of our bodies. Over the next few years, you’ll start to notice more and more wellness-focused businesses popping up in your local neighborhoods. The people b...

If you’re thinking about starting a business, it’s a good idea to begin thinking about what the business would need to do for you. What do you want and need out of that business? Everyone has a different “why”. Understanding your “why” will help you find a business that can give you what you’re looking for. The last thing you want to do with a business is buy yourself a job. Your business should f...

We have a saying about the Golden Rule - ’”the one with the gold makes the rules.” When you’re thinking about finding an investor, we encourage you to talk about all of the points mentioned in this podcast, and then some, up-front. Please meet with an attorney and work everything out on paper. This can save you a lot of heartache in the future should anything not go as expected. We cover many curr...

Sales can be uncomfortable for so many people. If you look at sales as an art and learn to do it well, it can be a tremendous benefit to your business and your personal life. Good, honest, ethical sales is all about asking good questions and listening well. It’s really all about diagnosing a situation and determining whether or not you can offer or suggest a solution. If you can offer a solution,...

So many of us are programmed this way. We never think about our talents outside of the workplace. Many times it doesn’t dawn on us until we’re in a situation where we’ve been outplaced and we’re having a hard time finding our next step. For many of us, we would never have considered starting a business had our hands not been forced. For the people that think about this early on, they are in a much...