Rich Habits Podcast

Q&A: Starting a Franchise, Balance Transfer Credit Cards, & What NOT To Do In Real Estate

Aug 28, 2025
In a lively Q&A, the hosts tackle pressing listener inquiries about personal finance and investing strategies. They dissect the complexities of franchise investments, emphasizing due diligence and the risks of using debt. Exploring home equity, they warn about the volatility of certain assets while offering advice on liquidity for young investors. Personal anecdotes and practical insights on navigating financial landscapes are shared, ensuring a rich discussion of sound investment principles and the necessity of a solid financial foundation.
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ADVICE

Vet Franchises Thoroughly

  • Do deep due diligence before buying a franchise and verify success and closure rates of franchisees.
  • Use conservative financing like an SBA loan if you qualify and avoid putting up too much personal capital upfront.
ANECDOTE

Mixed Results From Pizza Franchises

  • Robert Croak shared that some pizza franchise stores he was involved with were highly profitable while partner stores lost money.
  • This illustrates that franchise outcomes vary widely and depend on operator skill and local market fit.
ADVICE

Don't Rush Into Franchising After Layoff

  • Prioritize returning to a high-paying W-2 role before making a career 180 into franchising.
  • Treat franchising as an encore or supplemental income once you have stable employment and savings.
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