Many people dream of owning a business and being in control of their destiny. However, knowing where to start can be difficult if you've never run a business. Fortunately, working with advisors and being good in sales can be your key to success. Today's guest shares his experience starting and growing his brand.   Join Over 5,500 Franchisees and Franchisors in our FREE Private Facebook Community HERE   Rich Moyer is the Founder and CEO of Hoppin' Brands. He started his career in the golf industry, becoming a PGA Professional at 22. He later realized he was on the wrong side of the counter, so he got into sales, leading him to start his first business in 2014. Rich grew this business quickly and sold it in February of 2017. In the summer of 2016, he opened a homemade ice cream shop with two of his best friends, and they have expanded to 5+ locations and are continuing to grow. After selling his first company, Rich used some of the proceeds to open Hoppin'. The first location opened in December 2017. He then opened the second concept, Pinhouse, in August 2019 and the third location, Hoppin', in March 2020. After the pandemic, Rich and his team began the franchise process for Hoppin' and launched fully in September 2022.    Hoppin' brings a different way to franchise a bar/restaurant, and Rich expects rapid growth across the country.   Join Erik and Rich as they discuss the different things you need to start and grow your business, the power of having advisors, building your brand, deciding whether or not to franchise your business, and a whole host of cool things about franchising and entrepreneurship.    “If you can sell, you can do anything.” - Rich Moyer   In This Episode: - How Rich got into entrepreneurship - What was it with Rich that made his mentor take a chance on him? - What came next for Rich after crushing his first sales job? - Life in the construction industry - What do you do with a large sum of money from selling your business? - Why did Rich start an ice cream business? - Let's talk about Hoppin' - Are you thinking about franchising your business? Here's some advice from Rich - Rich shares more advice for franchise owners  - What does Erik look for when vetting brands for Front Street? - What is it about Hoppin' that makes it franchisable? - Thoughts on branding and how Rich came up with the name for Hoppin' - Changing the tagline for Hoppin'  - What's next for Rich and the Hoppin' Brands? - Rich's biggest fears that keep him up at night   Resources:  🌐 Consult with Erik: https://form.jotform.com/222685728939070 🌐 Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617    🌐 Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  🌐 Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses https://scalablefranchise.com/ 🌐 Front Street Equity Partners - https://www.frontstreetep.com/ Connect with Rich Moyer: 🌐 Website  💼 LinkedIn  🎥 YouTube    Connect with Erik Van Horn: 🌐 Website  📷 Instagram  👍 Facebook  👥 Facebook Group  💼 LinkedIn 🎥 YouTube Ⓜ️ Medium

If there's a way for you to get a competitive edge in franchising, wouldn't you take it? In this episode, we delve into the pivotal role of data-driven research from FRANdata.    Join Over 5,500 Franchisees and Franchisors in our FREE Private Facebook Community HERE FRANdata works with clients on their most challenging performance issues, investing significant time and effort in developing and renewing a knowledge base that offers unique perspectives and insights and creates long-term strategic direction for their clients. Edith Wiseman, a 24-year veteran of FRANdata, shares valuable insights into how FRANdata empowers franchisees and franchisors to make informed decisions. She has played a pivotal leadership role in the strategic growth of FRANdata’s Capital Access and Franchise Business Intelligence suite of solutions. As President of FRANdata, Edith is responsible for sales, product development, and market strategy.   Erik and Edith explore how FRANdata's extensive research and market analysis provide a competitive edge in the complex world of franchising. From identifying lucrative opportunities to optimizing existing operations, the data-driven approach proves to be a game-changer.   Discover how leveraging FRANdata can be your strategic advantage, helping you navigate the franchise landscape, minimize risks, and maximize success. Don't miss this enlightening discussion on the power of data in achieving your franchise goals.   “The success of the franchisors is a different conversation than the success of franchisees. The success of franchisees is 100% dependent upon the system. We have franchise systems where there's a 100% success rate, and I've looked at franchise systems where there's a 20% success rate.” - Edith Wiseman   In This Episode: - A brief background on Edith Wiseman - What goes into the creation of the IFA Report? - What does the data say about raising your prices? - Takeaways from the Franchise Springboard event - How does a brand grow fast and smart and retain trust? - How do data collectors get access to information? - How does FRANdata help franchise buyers in making decisions? - What to look for when buying a brand - How franchisees and franchisors can take advantage of FRANdata - How inflation impacts the franchise industry (another takeaway from the Franchise Springboard) - The cost of initial investment (Item 7 in the FDD) - What the data says about points of failure  Resources:  🌐 Consult with Erik: https://form.jotform.com/222685728939070 🌐Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617    🌐Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  🌐Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses https://scalablefranchise.com/ 🌐2023 Franchising Economic Outlook: https://www.franchise.org/franchise-information/franchise-business-outlook/2023-franchising-economic-outlook 🌐IFA/FRANdata Franchise Inflation Study: https://www.frandata.com/ifa-frandata-franchise-inflation-study/?return=8020&source=IFA%2FFRANdata%20Franchise%20Inflation%20Study Connect with Edith Wiseman: 🌐 Website  💼 LinkedIn   Connect with Erik Van Horn: 🌐 Website  📷 Instagram  👍 Facebook  👥 Facebook Group  💼 LinkedIn 🎥 YouTube Ⓜ️ Medium

When you’re about to purchase a home, one of your primary considerations is location. The same consideration applies when you’re looking to buy a franchise. Whether opening a physical store or operating the franchise from within your home, your overall location can play a big part in your success. If you're looking for a new site or about to sign a lease, this episode provides valuable information you may not find anywhere else.   Join Over 5,500 Franchisees and Franchisors in our FREE Private Facebook Community HERE   So join Erik and Jonathan as they talk about retail site selection, why master brokers may or may not be the best thing for franchisees and franchisors, the underwriting and approval process, how to present your brand to the real estate community, lease agreements, and LOIs, how technology comes to play during site selection, and a whole lot more.   Jonathan Hill co-founded Morrow Hill, a company that offers premier corporate and franchise real estate strategies worldwide. He represents companies and brands of all sizes and oversees over eight million square feet of real estate Morrow Hill leases and acquires annually. He is an active board member of the Titus Center for Franchising at Palm Beach Atlantic University and mentors students in the Rinker Business School who focus on franchising.    Additionally, Jonathan is a dedicated advocate for the franchising world and meets with members of the House and Senate to protect and promote the franchise model. He enjoys coaching the local youth hockey team and spending time with his three children in his free time.   “If you are a franchisee or buying into a brand, some of the things that I'd be asking and look at, you know, “What does the real estate process look like? What kind of help do I have? How do you evaluate locations?” Obviously, you're asking the question on what locations have failed and not failed.” - Jonathan Hill   In This Episode: - Who is Jonathan Hill, and what does he do? - Where do franchisors and franchisees start with the site selection process?  - What is the benefit of the master broker model? - How does Jonathan's model differ from the other models? - What should buyers think about when it comes to real estate? - Common mistakes franchisors and franchisees make in the site selection process - What are some ways to get off a personal guarantee, and how much does it matter? - Should the landlord provide tenant improvement allowance or do the build-out themselves and increase the rent? - How can franchisors and franchisees present the brand to the real estate community? What areas should they focus on? - How does Jonathan utilize technology to find real estate opportunities that are not yet in the market? - How robust should LOIs (letter of intent) be? - Let's talk about lease assignments - Jonathan provides insights on what technology can help those involved in the franchising world - Are there brands too small to work with Jonathan's company? Resources:  🌐 Consult with Erik: https://form.jotform.com/222685728939070 🌐 Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617    🌐 Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  🌐 Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses https://scalablefranchise.com/   Connect with Jonathan Hill: 🌐 Website  💼 LinkedIn  📷 Instagram    Connect with Erik Van Horn: 🌐 Website  📷 Instagram  👍 Facebook  👥 Facebook Group  💼 LinkedIn 🎥 YouTube Ⓜ️ Medium

Learn the importance of asking the right questions in sales to focus on the customer's needs. Discover insights from best-selling author Phil M Jones on creating success by asking better questions. Explore the impact of AI in sales and the psychology of franchise sales.

What does it take to succeed in multiple business ventures? How do you become massively successful in all areas of your life?   Join Over 5,000 Franchisees and Franchisors in our FREE Private Facebook Community  HERE.   Let's find out from Keaton Hoskins. You may recognize him as ‘The Muscle’ from the hit TV show Diesel Brothers. But who is the man behind The Muscle?   Keaton lost his dad at age 21, which flipped a switch that led him to launch 35 successful businesses, including a cookie company, a dental office, a plastic surgery, an apparel company, a sports supplements store, a marketing agency, and sports training facilities.   His unstoppable mental mindset has outsold every event he has ever run. His events attract legendary speakers. His biggest pride and joy is his Limitless Society club, which has grown to over a thousand members in less than a year and produced eight millionaires (one worth $35 million).   Keaton's success story isn't just limited to financial prosperity. He has incorporated his principles of success into every aspect of his life, finding true happiness and fulfillment by being a great father, husband, friend, and citizen of society. His understanding of human nature and infectious energy makes him one of the most sought-after speakers and mentors today.   Join Erik and Keaton as they talk about becoming limitless and building your dreams as an entrepreneur. They also discuss the importance of influence and networking. So tune in and take advantage of the insights in today's episode of Franchise Secrets! “I truly believe that everybody's limitless, and the only limit that we put on ourselves are the ones in our mind, and they're not real.” - Keaton Hoskins   In This Episode: - Who is Keaton Hoskins, and what is his story? - The importance of building your brand and influence to grow your business - Does the “giveaway model” still work today? What's the best way to spread the word about it? - How did Keaton get involved with Dirty Dough? - Why Keaton believes that having the least number of people is the best way to run a business  - Where does Keaton invest his money? Does he invest passively? - What does Keaton think about hard money?  - How does Keaton manage his multiple businesses? Where does he spend the majority of his time? - What does Keaton do for fun? - What is it like being a part of amazing circles and spending time with people who play the game at a high level? - How do you intentionally give value, and what result does it bring? - What is it like to attend an event hosted by Keaton? - How does Keaton keep his A-level game? - Keaton shares his best advice for anyone wanting to build a successful business And more!   Resources:  - Consult with Erik: https://form.jotform.com/222685728939070  - Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617   - Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617   - Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses https://scalablefranchise.com/  - Dirty Dough Franchising - https://dirtydoughcookies.com/franchising/ - The Money Mondays Podcast by Dan Fleyshman - https://podcasts.apple.com/us/podcast/the-money-mondays/id1664983297   Connect with Keaton Hoskins: 🌐 Website  💼 LinkedIn    Connect with Erik Van Horn: 🌐 Website  📷 Instagram  👍Facebook  👥Facebook Group  💼LinkedIn 🎥 YouTube Ⓜ️ Medium

Are you ready to tap into the wealth of knowledge and support that comes with being part of a franchise system? When you become a part of a franchise, you're not just opening a business. You're becoming a member of a close-knit community of experienced entrepreneurs.   In this tight-knit network, you can access a treasure trove of franchise advice and unwavering support. Plus, you unlock the keys to marketing and operational systems that can propel your local business to new heights.   Join Erik and his guest, Alex Klaus, as they explore the incredible benefits of franchise associations and advisory boards and how they can supercharge your franchise journey! Alex was an analyst for small & micro-cap publicly traded companies, an investment fund manager, a Regional Developer with The Joint Chiropractic, and a multi-unit franchisee with Massage Envy. Today, Alex is a multi-unit, multi-state franchisee with a health & wellness brand and a professional coach since 2017. Most recently, Alex embarked on a new role that is a rare rabbit hole in franchising. He co-founded an independent franchisee association and became the first President of the fast-growing Aligned Franchisee Association. Get ready to discover the immense benefits of franchise associations and advisory boards. This is an episode you won't want to miss!   “If you become a little bit better in five different areas of your life, it becomes exponential over time.” - Alex Klaus   In This Episode: - How Alex started in franchising and ended up doing what he's doing now - When do franchisees need to start a franchise association? What's the difference between a group formed by franchisees vs. a group started by franchisors? - What does a conversation look like with someone who wants to start a franchise association? Why would someone want to volunteer for that job? - What is the benefit of having a franchise association? - What are the steps to forming a franchise association? What are the documents required? When must you inform the franchisor that you have established a franchise association?  - How do you communicate that you have formed a franchise association? What kind of response has Alex experienced from franchisors? - What are the benefits of having a Franchise Advisory Board for franchisors? - What kind of people would you want to see running the franchise association and Franchise Advisory Board? - What should be the priority of a franchise association after its formation? - How franchise associations and councils empower both franchisors and franchisees and help them nurture a good relationship - Valuable advice from Alex for people who want to dive into entrepreneurship and investing And more!   Resources:  - Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com  - Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com  - Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com  - Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - Franchise Secrets FB Group - https://web.facebook.com/groups/franchisesecretsfb - Front Street Equity Partners - https://www.FrontStreetEP.com/ - Franchise Secrets Episode With Tom Wheelwright: Too Many Entrepreneurs Are Missing Out On These Tax-Effective Investing Strategies! - https://podcasts.apple.com/us/podcast/too-many-entrepreneurs-are-missing-out-on-these-tax/id1460276956?i=1000589294058   Connect with Alex Klaus: - LinkedIn  Connect with Erik Van Horn: - Website  - Instagram  - Facebook  - Facebook Group  - LinkedIn - YouTube - Medium

Franchising continues to be a popular business model in today's competitive market. Entrepreneurs can leverage the success of an established brand instead of building a business from the ground up. Today's guest has taken franchising to the next level by investing in different brands, resulting in immense growth and profitability.   Justin Sharbutt is a multi-brand franchisee passionate about expanding his footprint in the franchise industry. He owns 7 Dunkin'/ Baskin Robbins, 3 BurgerFi, and 54 Tide Cleaners, with 12 new stores under development. His wife owns 1 Blo Blow Dry Bar. Justin had his first taste of entrepreneurship when he and two of his best friends started a business raking leaves in their neighborhood.    Join Erik and Justin as they discuss what being a multi-unit and multi-brand franchisee is like. Get valuable insights in choosing a brand to work with, deal structures, business entity setup, and how to run multiple locations effectively.   If you’re looking for a franchise to start your dreams of becoming a business owner, look no further and let Justin show you the way.   “Volume cures all. The more sales you have, the margins are much better.” - Justin Sharbutt   In This Episode: - Justin takes us through his early experiences in entrepreneurship and how he got into franchising - Why would someone want to franchise a food business when it's known to be a low-margin industry and managing employees is a nightmare? - How important is the brand when it comes to franchising?  - What attracted Justin to franchise a QSR and laundry service? - Justin talks about what the deal structure was like with Tide, what worked, what didn't work, and other lessons along the way - What is the right way to set up a business entity? - Justin shares some numbers (EBITDA) - What is it like working with Procter & Gamble vs. working with Dunkin'?  - Neighborhood marketing tips from Justin - How do you run a laundry business, and how many employees do you need per location? How does Justin's day-to-day schedule look? - What is the biggest threat to the laundry business? - What's next for Justin? And more!   Resources:  - Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com  - Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com  - Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com  - Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - Franchise Secrets FB Group - https://web.facebook.com/groups/franchisesecretsfb - Front Street Equity Partners - https://www.FrontStreetEP.com/   Connect with Justin Sharbutt: - Website  - LinkedIn Connect with Erik Van Horn: - Website  - Instagram  - Facebook  - Facebook Group  - LinkedIn - YouTube - Medium

Are you thinking about buying or selling a franchise? If you are relatively new to the franchising process, you might want to work with a franchise consultant who can give you the most objective perspective possible.    But what exactly is a franchise consultant? If you are a franchise owner or planning to become one, is hiring a franchise consultant really worth it? Many people say that working with a franchising expert makes it easier for you to develop an effective franchise management plan. But if you are confident about making a franchising decision or a plan on your own, why involve someone else?    To help you better understand why you should or should not work with a franchise consultant, Erik has invited Trent Halvorson, the Vice President of Franchisor Relations at FranChoice, a premier network of franchisee referral consultants in the United States. Since 2000, FranChoice consultants have helped over 50,000 people identify and investigate the perfect franchise for them.    As the VP of Franchisor Relations, Trent oversees the company's evaluation process to select new franchisors to work with FranChoice. He also works with existing franchisors to improve their overall results with FranChoice.   Join Erik and Trent as they discuss the benefits of working with a consultant, where to find an excellent consultant, and why you might want to work with FranChoice. Trent also shares his insights on the state of the economy and its impact on franchise sales, among others.   “I describe consultants to my friends and family as having a smart friend (with you) as you go out and learn something new.” - Trent Halvorson    In This Episode: - How would you describe a consultant or consultant network? - Is there any difference between a consultant and a broker? - What criteria does Trent look at when evaluating a brand looking to work with FranChoice? What does he look for in a candidate's leadership team? - When should someone call Trent or FranChoice? - Why should franchise buyers use (or not use) consultants?  - How would you go about finding a good consultant? - Who pays for the consultants' fees - the franchisor or the franchisee? And why would they be willing to pay for it?  - The benefits of using a consultant - Trent shares his insight on where the economy and franchise sales are going - How have industries changed? Where are interest rates headed? - What makes a great franchise development person? - Are you skeptical about the motives of some franchisors? Do you think they're just out to sell themselves? - What are some of the biggest mistakes franchisors make? - Nuggets of wisdom from Jeff Elgin, the owner of FranChoice And more!   Resources:  - Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com  - Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com  - Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com  - Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - Franchise Secrets FB Group - https://web.facebook.com/groups/franchisesecretsfb - Front Street Equity Partners - https://www.FrontStreetEP.com/   Connect with Trent Halvorson: - Website - LinkedIn Connect with Erik Van Horn: - Website  - Instagram  - Facebook  - Facebook Group  - LinkedIn - YouTube - Medium

Launching a successful franchise or any type of business requires making the right decision about several things. Site selection is among the most important of all the decisions you’ll need to make. Even if a franchise is in a growing market with a great marketing strategy, selecting the wrong site can prevent it from succeeding. In fact, choosing the wrong location is one of the top reasons franchises fail.    If you're a franchisor or a franchisee, consider partnering with someone who knows exactly what ideal location and business concept would work well. Today's guest is an equity investor in the franchisee. He buys the real estate, invests in the franchisee, and makes a lot of money in real estate and at the franchisee level.    David Lawver is a mortgage lending expert, real estate investor, and entrepreneur. He has acquired over $75,000,000 in real estate projects since 2014. The projects have ranged from single-family dwellings, retail, residential apartments, and a $4 million portfolio consisting of 19 single-family residences in Oakland. The private equity raised is over $20,000,000. Some of the development company holdings are businesses in finance, construction, property development, health and fitness (big box gyms), and Airbnb management. David has a well-established network of investors that allows him to raise enough capital to purchase deals up to $10,000,000 and beyond.    If you're into real estate investing and franchising and want to know more about choosing suitable operators, brands, and sound financial practices, this episode with Erik and David will give you much value.    “If somebody could take that data and interface it with a strong AI, I bet you there'd be some really incredible revelations. And I bet we're not too far away from much more sophisticated site selection that would be helpful for these ventures and really any journey.” - David Lawver   In This Episode: - Who is David Lawver, and what does he do? - What does David look for in franchisees before doing business with them? - How does David get the deals he's currently interested in? - What tools and data does David look at when considering leasing a site and a concept to ensure it's the right fit? What makes one location better than another? - How can you stand out from the competition and avoid cannibalizing your own market? - Which is preferable: cash flow, building equity, enterprise value for an exit, etc., and why? - How does David manage his operators, team members, and everyone else involved in the business? - What does a typical week look like for David? - Why is it important to have regular weekly meetings about the numbers (P&L, expenses, enterprise value, asset valuation, projections, and other financial matters)? - How to structure a deal with an operator - Why franchisees love working with David - What's next for David? And more!   Resources:  - Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com  - Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com  - Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com  - Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - GeoStudies - https://geostudies.net/ - Experian Comprehensive Case Studies - https://www.experian.com/   Connect with David Lawver: - Website - LinkedIn - Instagram Connect with Erik Van Horn: - Website  - Instagram  - Facebook  - Facebook Group  - LinkedIn - YouTube - Medium

Much of our life experiences shape who we are and become filters to how we view the world and process new information. They help us understand ourselves and others better.   In this episode, Jeff Herr returns to chat with Erik about their big AHA moments, the challenges and adversities that helped shape them, their work ethics, and how everything translates into who they are today.    Erik and Jeff used to compete against each other while working in the tax business. Then, they became friends and business partners at Front Street Equity Partners.    They also discuss their mission, what attracts them to brands and founders, and two of the five pillars that guide their company. They cover the benefits of having a board of advisors, how it's different from your board of directors, and how important it is to build a dream team.    Whether you're a franchisor, franchisee, or looking into investing in a brand, you can gather many golden nuggets as you listen to today's episode of Franchise Secrets. “When you're building a business, there's going to be giant ups and downs. And that's a good thing. Every time you get down and build it back up, you just become so much stronger.” - Jeff Herr   In This Episode: - Erik and Jeff share some lightbulb moments–those powerful moments of inspiration that shaped their lives - What Erik and Jeff look for in founders and brands (pain, grit, and grind are among the top criteria) - What's the mission of Front Street Equity Partners? - Why would you want to have a board of advisors? How are they different from your board of directors? - How important is alignment when partnering with brands? And more!   Resources:  - Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com  - Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com  - Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com  - Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617  - Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617    Connect with Jeff Herr: - Website  - LinkedIn    Connect with Erik Van Horn: - Website  - Instagram  - Facebook  - Facebook Group  - LinkedIn - YouTube - Medium