Beyond 8 Figures Diversify Your Portfolio with Franchise Opportunities with Jon Ostenson, FranBridge Consulting
If you want to diversify your revenue streams and get into business ownership without starting a new company from scratch, investing in a franchise might be a good option for you. But how do you find the right franchise opportunities? In today’s episode, Jon Ostenson and A.J. explore franchise opportunities to help you grow your entrepreneurial journey. They also dive into the smartest tactics for matching your long-term goals to your franchise investment, how to prepare to break into franchising, and why investing in a franchise is a wise choice.
About Jon Ostenson:
Jon Ostenson is a Certified Franchise Consultant and a top 1% consultant/broker nationally specializing in non-food franchising. As the Founder and CEO of FranBridge Consulting, he has helped thousands of entrepreneurs and investors understand all aspects of non-food franchising and explore different business ownership opportunities. You’ll find his insightful contributions in well-known publications like Forbes, Inc., The Franchise Journal, and Franchise Connect, where he writes about franchising and franchise investments.
Drawing on his experience as a multi-brand franchisee and his background as an Inc. 500 franchisor, Jon authored the book called “Non-Food Franchising: The Better Path to Business Ownership.” Addressing key topics such as strategic opportunity selection, semi-passive business models, and financial potential, this book is an essential resource for aspiring entrepreneurs, underscoring why non-food franchising is the optimal route to successful business ownership.
For a comprehensive book review, check out this page.
Episode highlights:
- Fast food businesses are not the only franchise opportunities you can explore. Non-food franchising could be a much better path to business ownership as they’re often necessities that people can’t go without, like dumpsters, children's apparel, or pet stores, which makes them more lucrative and sustainable. (03:43)
- Franchising is a great way to create multiple income streams and diversify your investment portfolio, helping you build long-term wealth and secure revenue. It’s ultimately about not putting all your eggs in one basket but allocating your money across different investments. (05:49)
- Having a good manager for your franchise is a game changer. It takes the burden off you without sacrificing the quality of business operations. (07:59)
- Every entrepreneur is different. So, it’s important to identify your own business WHY to understand which direction you want to take next in your entrepreneurial path and then unlock a franchise opportunity that will fit those goals. (14:07)
- When you’re preparing to invest in a franchise business, it’s critical to first research and identify market gaps where the customers’ needs are not being met. Then, start thinking about how you could solve their pain points with the right business. Only once you’ve uncovered the right opportunity can you start working on the funding piece and the actual paperwork for owning your franchise. (18:13)
- Even though some businesses don’t seem that intriguing at first glance, what matters is that they’re necessities on the market. They have real franchise potential and are more likely to stand the test of time. (22:43)
Jon’s best advice for entrepreneurs:
“Where we see most of the attention being given today, again, it's these what I would call boring businesses, things like gutters and insulation and floor coatings and dumpsters. We have clients killing it with dumpsters. It's things that, like I mentioned, the senior care, we're still doing a lot of oil changes in most states, but it's pets, it's kids, it's businesses like that, that you don't think of oftentimes until they're in front of me and say, wow, there really is a market need.” (22:54)
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Resources Mentioned:
- Non-Food Franchising by Jon Ostenson
- Sign up for the monthly newsletter to receive a free copy of Jon's book and/or for a free franchise consultation at FranBridge Consulting
- Franchise Gator
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