Are you ready to expand your franchise portfolio? In this episode, Erik Van Horn and Bobby Brennan discuss the risks, challenges, and key considerations of diversifying into a second or third brand. With candid insights and actionable advice, they explore why self-awareness, due diligence, and understanding franchisor decision-making are crucial before taking the plunge.
Discover the common pitfalls franchisees make when branching out, why culture and cooperation matter, and how to assess if a new brand aligns with your goals. Erik and Bobby also share personal stories of lessons learned, including the underestimated value of validation and the hidden insights founders can offer.
Whether you're a franchisee looking to diversify or an entrepreneur starting fresh, this episode is packed with essential tips to ensure your next move is the right one.
Tune in now and learn to expand wiselyโwithout risking it all!
"Just because my franchise over here did it that way doesn't mean this franchise is gonna do it that way. And just know that there's gonna be some learnings. You may be right. Maybe you're gonna be wrong as well. But just know that when you join a franchise, you're joining a hundred percent." ~ Bobby Brennan
In This Episode:
- The worst thing you can do when buying a second brand
- The "five C's" for evaluating franchise fit
- Adapting to new systems vs. applying old playbooks
- How to handle the challenges of expansion
- Validation: a must for joining new franchises
- Self-awareness: the key to smart franchise expansion
- Why founder decisions shape emerging brand success
Resources:
๐ Consult with Erik - https://form.jotform.com/222685728939070
๐ Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
๐ Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
๐ Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses - https://scalablefranchise.com/
๐ How goGLOW Built a Franchise Employees Love and Customers Trust With Tori Johnston - https://www.youtube.com/watch?v=9hWHheuG0p4
๐ Attract Loyal Customers and Earn 5-Star Reviews With goGLOW's Tori Johnston - https://www.youtube.com/watch?v=9d7NykLrrUs
Connect with Bobby Brennan:
๐ Website - https://www.frontstreetep.com/
๐ผ LinkedIn - https://www.linkedin.com/in/bobby-brennan-37b46ab/
Connect with Erik Van Horn:
๐ Website - https://franchisesecrets.com/
๐ท Instagram - https://www.instagram.com/erikvanhorn/
๐ Facebook - https://www.facebook.com/erik.v.horn/
๐ผ LinkedIn - https://www.linkedin.com/in/evanhorn/
