Acquisitions Anonymous - #1 for business buying, selling and operating Would You Buy This Franchise? Inside Smash My Trash with Connor Groce
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Nov 6, 2024 Connor Groce, a franchisee of Smash My Trash, shares insights from the trash compaction industry. He discusses the surprising challenges of B2B sales and the importance of navigating relationships with haulers. Connor also highlights the nuances of the Franchise Disclosure Document (FDD) and the gaps it can have between reality and expectations. He reflects on his personal journey into franchising and whether acquiring an existing territory or expanding into new ones is a better approach. A revealing look into the unique world of franchise ownership!
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Franchise Acquisition Journey
- Connor Groce initially planned to buy a Smash My Trash franchise in Cincinnati.
- The deal fell through, but he later bought an existing franchise and other smaller businesses.
Franchise Acquisition Challenges
- Buying an existing franchise can be difficult due to internal resales within the franchise system.
- Connor Groce advises stretching financially to get in and creating value later.
FDD Evaluation and Due Diligence
- When evaluating a franchise, review the Franchise Disclosure Document (FDD) but don't solely rely on it.
- Talk to existing franchisees directly to get practical insights and understand real-world experiences.