Ep. 38 - How Franchises Can Be Used For Building Wealth
The Unconventional Investor · Michelle Moses | Certified Financial Planner + Founder of Me Financial
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Show Notes
Think you can't afford a franchise? This episode shows us how $50,000 can open the door to business ownership.
Greg Mohr, a franchising expert and Wall Street Journal best-selling author joins us to share the details of buying or starting your own franchise.
I think you'll be surprised by how easy it is to get into franchising and the support you’ll receive throughout the process.
From discovering which industry is right for you, to funding, marketing and even scheduling clients - there are systems to help you succeed in a new or existing franchise. All you have to do is pick up the phone and experts are there to support and guide you.
Key takeaways from our conversation:
- Rapid Expansion Potential - Franchising can significantly speed up business growth, as it allows for leveraging other people's investments and efforts across multiple locations.
- Franchise Setup Process - Setting up a franchise typically involves an investment of around $50,000 and takes approximately three months. This includes legal documentation, training, and alignment with franchising best practices.
- Semi-Absentee Ownership - An option for those with less time but interest in franchising. This model allows owners to hire a manager to handle daily operations while overseeing the business for about 10-15 hours a week.
Listen to the full episode for little known facts about franchising and discover how easy it is to get started.
Buy Greg’s Book - https://amzn.to/4cqb02q
Follow Michelle on Instagram: @michelle.e.moses
Visit Me Financial Website: www.mefinancial.net
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Disclaimer: The information provided in this podcast is for general informational purposes only and should not be construed as professional financial advice. Always consult with a qualified financial advisor or professional before making any financial decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.