Nikonomics - The Economics of Small Business 184 - How to Decide If Franchising is the Right Business Path for You with Connor Groce
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Jun 9, 2025 Connor Groce, a franchise consultant with experience in fitness franchises and launching Smash My Trash, discusses the ins and outs of franchising. He clarifies common myths, emphasizing that franchising is a serious business pathway, not just for novices. Connor dives deep into the importance of the Franchise Disclosure Document (FDD) and encourages potential franchisees to speak with existing owners for unaffiliated insights. He also outlines different franchise models and the varying investment costs, helping listeners align opportunities with their personal strengths and goals.
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Most Franchises Are Poor Choices
- Over 90% of U.S. franchises are not good investments, so you must be very selective when choosing one.
- This high failure ratio requires a prudent approach to franchising, just like choosing a small business to own.
Connor's Franchise Journey
- Connor started franchising by partnering with owners in a boutique fitness franchise and later acquired a mobile trash compaction franchise.
- He now runs multiple locations and works as a franchise consultant helping others through the franchise process.
Franchising's Unique Position
- Franchising is a middle ground between starting a business from scratch and buying an existing business.
- Franchises provide a predefined framework and a network of others to help navigate operational challenges.