Episode 350 – Understanding the Franchise Business Model with Kevin Oldham

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Hey, Digital Marketers
Do you have the right personality type to own a franchise? In a post 'Get Rich Quick!' world, where it's getting harder and harder to believe the hype of an 'overnight success', owning a franchise is proving to be a successful long-term model for acquiring real wealth!

Of course, you need to be someone who is prepared to play by the rules and even start in the kitchen as you serve your time learning about the franchise you're buying into before you get to be your own boss.

Kevin Oldham is the host of "Franchise My Business Podcast" and CEO of Diffactory, providing actionable franchising strategies that make this business model seem increasingly attractive for entrepreneurs who don't want to get a real job.

If you'd like to read the show notes, they're posted on our blog!

Key Takeaways:
00:00 Intro
01:54 What is the current state of franchising? How Kevin got into it
04:00 What are the benefits of buying into a franchise?
06:20 How does franchising work?
10:24 How do you know which franchises are good?
14:05 How do you exit a franchise agreement?
16:38 Who is a good prospect for owning a franchise?
18:55 How do you set franchisee expectations?
23:30 How MBA graduates are being recommended to own franchises
27:14 Measuring the expectation that you're not going to cash in right out of the gates
29:14 Appreciating the community aspect of owning a franchise

Connect with Kevin Oldham:
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