Is your business ready to scale through franchising? In this must-listen episode, Erik Van Horn and Jeff Herr discuss the remaining crucial questions every entrepreneur should ask before becoming a franchisor. Today, they dive deep into scalability, profitability, and what it takes to support franchisees effectively. Using examples from well-known brands like Chick-fil-A and Panera, they explore the critical considerations for building a successful franchise model.
Whether you're a current business owner wondering if franchising is the next step or an aspiring franchisee looking to assess opportunities, this episode provides actionable insights into franchising. Discover how to determine if your business is ready to grow as a franchise and what systems you need to ensure long-term success.
βDon't do it! Do not franchise your business if you think it is a quick way to wealth, that this is a get-rich-fast scheme, a quick way to build a company and have a fast exit. Don't do it!" ~ Erik Van Horn
In This Episode:
- Scalability: single-unit vs. multi-unit operators
- Challenges of supporting franchisees
- Evaluating potential franchisees
- Franchisee profitability and unit economics
- Reducing the time to cash flow for franchisees
- Importance of support and training systems
- Financial and legal considerations for franchisors
- Are you ready to lead a franchise brand?
- The reason you shouldn't franchise your business
Resources:
π Consult with Erik - https://form.jotform.com/222685728939070
π Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
π Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
π Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses - https://scalablefranchise.com/
π Franchise Springboard - https://franchisespringboard.com/attend/
Connect with Jeff Herr:
π Website - https://www.frontstreetep.com/
πΌ LinkedIn - https://www.linkedin.com/in/jeffrey-herr-606b74a/
Connect with Erik Van Horn:
π Website - https://franchisesecrets.com/
π· Instagram - https://www.instagram.com/erikvanhorn/
π Facebook - https://www.facebook.com/erik.v.horn/
πΌ LinkedIn - https://www.linkedin.com/in/evanhorn/
