The most charming stories are the ones where someone has started as like a cook or something at a franchise, right? And then grew to management. A lot of franchises love to identify people who are thriving inside of their system and then help them become franchisees. So we've got this guy. His name is Sergio Aguirre, A-G-U-I-R-R-E. He spent years working in hotels and had actually thought about leaving hotels to open up his own restaurant. But when he went to Mexico to visit some friends,. And he saw this brand that is, uh, started in Spain. It's in 2000 locations globally, but it's actually not in
By popular request, Entrepreneur editor-in-chief Jason Feifer returns for a follow-up episode devoted to the fundamentals of starting and building franchises, a pillar of the Entrepreneur ecosystem.
Starting from the very basics, James peppers Jason with the critical few questions necessary to understanding how franchises operate, which types of business are suited to part-time operators, and what kind of financial returns a franchisee might expect based on their business.
Additional Topics Include:
- Jason: "What is the minimum amount of me a job requires so that I can figure out how to expand myself in other directions?" (03:28)
- James: "You only learn something by doing that something" (04:55)
- James: "80% of the learning is doing what you have to do"
- Jason: "It is only to your benefit that people do things outside of what you're asking them to do." (07:36)
- Entrepreneur's evolution from within the franchise space to brand independence (09:49)
- How do you build wealth from a franchise? (27:38)
- Franchise Disclosure Documents (34:32)
- Franchise fees and revenue shares (39:14)
- What type of profit can a franchisee expect (42:57)
- What franchising success stories has Jason seen (47:25)
- Has Jason ever considered franchising? (52:41)
Editor’s note: Topic times don’t account for sponsor ads and may appear a few minutes later in the episode on your podcast player)
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