Franchise Euphoria What Makes a Good Franchisee and Franchisor with Tom Portesy
Tom Portesy has been president of MFV Expositions for more than 18 years, and added CEO to his title in 2009. With more than 25 years of global sales and executive management experience, Tom oversees the team that produces the three leading franchise events in the U.S., and is active in many International franchise events operated by MFV Expositions or strategic partners. Working closely with the International Franchise Association and many franchise associations around the world, Tom has participated as a panelist and moderator in countless educational seminars and symposia. Previously, Tom owned an advertising and PR firm and was a founder and Group VP of an instant printing franchise. He has been married for over 33 years and has 4 children.
Key Takeaways:
[0:27] Today’s episode is brought to you by Franchise 5! The key to long-term success is through smart, strategic growth. To learn more about this program, head over to FranchiseEuphoria.com/Franchise5.
[0:58] Our episode today features Tom Portesy, president and CEO of MFV Expositions. Tom leads his team in producing the premier franchise events in the U.S.
[4:44] Before he was in expositions, Tom was involved with a printing franchise, a business that sold instant printing and advertising specialties. They quickly learned it was a duplicatable model and within a few years had 150 units in the U.S.
[6:56] MFV is a trade show company based in New Jersey that produces four U.S. shows a year and numerous other shows internationally.
[9:45] Expos are not just about shaking hands and making connections. They also showcase various speakers and host seminars with a variety of topics that cover all aspects of franchising.
[11:25] The biggest misnomer that people think about franchising is that it’s all about food and becoming a millionaire. People would be shocked to know franchising touches every industry.
[13:00] Just because something is considered the “hottest” franchise, it doesn’t necessarily mean that’s what you should want to buy into.
[13:55] Becoming a franchisee is not necessarily for everybody. A franchisee is a certain type of entrepreneur who is ready to work hard but they want the proven system.
[16:00] Franchisees can still have creative liberties, but you have to prove yourself to the franchisor before your ideas will be heard.
[16:50] Not every business makes for a good franchise. A good franchise system offers a good product/service that can be delivered by nearly anyone.
[20:45] A good franchisor will make working capital part of your investment. If they don’t – run.
[22:10] The International Franchise Expo is coming up in New York this summer (May 31 – June 2). If you want to attend as a guest or have a booth, go to www.ifeinfo.com.
[23:39] Additionally, IFE is conducting a contest where you could win up to $25,000 to start your own franchise, plus a free trip for two to attend the expo. To learn more, head over to www.ifeinfo.com/franchiseme.
[24:38] Thanks again for listening, and please, reach out to Josh anytime through email at josh@indyfranchiselaw.com. If you enjoyed this interview, please leave us a review on iTunes.
Mentioned in This Episode:
www.franchiseeuphoria.com/franchise5
https://r1.events-registration.com/IFE2018/)