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CATEGORIES: Business, Franchising
Many say franchising is easier than building a business from scratch, but it's not as simple as you think. While buying a franchise can be advantageous when starting a business, you'll typically need a significant upfront investment. You must pay an initial fee for the right to operate under a franchisor's established brand and business model.
Before starting, you should think carefully to ensure that buying a franchise is your best business decision. On the other hand, if you're a franchisor, you must do due diligence and choose the right people before awarding a franchise. Being a franchisee or a franchisor can be overwhelming if you don't have someone guiding you.
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If you've decided that opening a franchise is right for you, listening to people who know how to build a franchise empire is one of the best things you can do.
Today's episode features the guy with the best newsletter in franchising. You might know his real name depending on your ties to the franchising community. But for now, let's call him the “Wolf” because that's how he's known in the franchising world.
Join Erik and the Wolf to discover a tool you should use as a franchisor that will benefit you and your franchisees. You will also learn tips and tricks you probably haven't heard elsewhere.
So, catch this episode to pick up clandestine tactics and exclusive revelations from The Wolf of Franchises.
“You can never project future performance, but you can absolutely share past performance data. And if the data is accurate and it's true, and you didn't add a zero on purpose to the revenue and the EBITDA, or whatever, if it's legitimate data backed by actual financial statements, there's absolutely nothing illegal about that.” - Wolf of Franchises
In This Episode:
- A brief background on the Wolf's breakthrough in franchising
- Wolf's advice to franchisors who think about building a newsletter, podcast, or social media presence to grow their brand
- Are there people who hate what the Wolf is doing?
- How the Wolf's newsletter evolved and what you'll get out of it
- Why are certain brands not putting information under Item 19?
- No Item 19? Here's what you can do
- Is using your competitors' data an acceptable way of dealing with your lack of Item 19?
- How does a buyer know if a brand is good without Item 19?
- What a lot of people getting into franchising don't understand
- A tool to help franchisors and franchisees understand their financial model better
- Where is the Wolf focusing his energy next year?
- How to join the Wolf's newsletter and get access to Krokit
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/
🌐Financial Management and Data Solutions That Help Build and Grow Franchises - https://www.krokit.com/
Connect with The Wolf of Franchises:
🌐 Website
🎥 YouTube
✉️ Newsletter
🎙️The Franchise Empires 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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