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CATEGORIES: Business, Franchising
Are you thinking about starting your own business? Consider buying a franchise if you don't want to build a business from scratch. Franchising is the best business model for many reasons. But, just like any business, it also comes with challenges, especially when you're not getting the proper support from the franchisor.
Now if you're the franchisor, remember that it's your responsibility to support your franchise owners because that can make a big difference in their chances of success. But what if you're unsure how to help them become better business owners? Brad Sugars offers excellent insights and sound advice for both franchisors and franchisees.
Brad is one of the most influential entrepreneurs and a top-notch business coach. He is also a bestselling author, keynote speaker, and host of The Big Success Podcast. As a husband and father of five, Brad is equally passionate about his family as he is about business. That's why he is a strong advocate for building a company that works without you–so you can spend more time doing what really matters to you.
Throughout his 30-year career as an entrepreneur, Brad has become the CEO of several companies and owns the multi-million dollar franchise ActionCOACH®. He created 90 Days To Revolutionize Your Life, a program where you spend 30 minutes a day for 90 days with Brad teaching you his 30 years of experience in investing, business, and life.
In this episode, Erik and Brad talk about a lot of fun stuff about franchising, like why the investor franchisee is better than the owner-operator franchisee, what the top franchisees do and how to become a top franchisee, and why franchisors want him to talk to their franchisees. They also discuss wealth-building and Brad's proven formula for success. There's so much value here that you won't find anywhere else, so stay tuned!
“This is one of the greatest things about franchising–your best franchise partners will teach you what you need. You've got to be listening to your top 20%. They are breaking new ground for you. They're the ones that are going to help you grow the business massively.” - Brad Sugars
In This Episode:
- Why Brad says that “hustle and grind is the new stupid” and his new definition of business
- What can you learn from conversations with your top 20% franchise partners?
- How franchisors should evolve with changing market conditions
- What support should franchisors provide their franchisees, and what solution exists when franchisors are not doing what they should?
- How can you help franchisees become better business owners?
- The best offline conferences and retreats for franchisors and franchisees
- Brad shares amazing stories of some guest speakers - people who succeeded despite the odds
- How does Brad help franchisors, and what is the advantage of being in the right community?
- What is the advantage of having a podcast for franchisors?
- Brad’s thoughts on AI and the possibility of brands becoming irrelevant as time goes on
- Discover Brad’s formula for success
- Why franchising is the best business model and how to stay on top of the game
- Brad talks about his journey wearing many hats in different businesses
- What's the best response you want to hear from someone when you ask, “Why should I invest in you”?
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
- Raise Your Hand Marketing by Brad Sugars & Joshua Bardsley - https://www.amazon.com/Raise-Your-Marketing-Joshua-Bardsley/dp/1915787084?source=ps-sl-shoppingads-lpcontext&ref_=fplfs&psc=1&smid=ATVPDKIKX0DER
Connect with Brad Sugars:
- Website - https://bradsugars.com/products/30x-business/
- LinkedIn - https://www.linkedin.com/in/bradsugars/
- Facebook - https://web.facebook.com/BradleySugars/
- Instagram - https://www.instagram.com/bradleysugars/
- Podcast - https://bradsugars.com/the-big-success-podcast/
Connect with Erik Van Horn:
- Website
- YouTube
- Medium
Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.
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