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CATEGORIES: Business, Franchising
Buying a franchise can be an excellent move for an aspiring entrepreneur who doesn’t want to build a new business from scratch. In a perfect world, franchisees acquire a model that works on every level. However, it is not entirely a walk in the park. There are still a bunch of challenges that may come your way.
Today, Erik and Jeff continue their conversation about the lessons they learned from their many years in the franchise industry and talking to hundreds of brands. In this episode, they discuss what they would do differently if they had to start over as a franchisee. Erik and Jeff reflect on what it was like buying a franchise the first time and the learning that came as they ventured into more brands.
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If you want to get expert insights on franchising, Erik and Jeff have them ready for you.
“You just do one thing and do it better than anyone else.” - Jeff Herr
In This Episode:
- Throwback to when Erik and Jeff bought their first franchise 20 years ago
- Why do you need an advisor?
- Key people to hire as you start growing your business
- What brand would Erik and Jeff have bought, built, and scaled as a franchisee?
- How do you find a brand that might be primed for private equity?
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/
🌐 Tribe of Investors - https://tribeofinvestors.com/
Connect with Jeff Herr:
Connect with Erik Van Horn:
🌐 Website
Ⓜ️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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