Never Been Promoted

Quick Tips for First-Time Franchise Owners with Gregory Mohr

September 07, 2024 Thomas Helfrich Season 1 Episode 103

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Never Been Promoted Podcast with Thomas Helfrich

Gregory Mohr, franchising expert and Wall Street Journal bestselling author, joins Thomas Helfrich to discuss the world of franchising, sharing his journey from fast food management to franchise consulting. Greg sheds light on the ins and outs of franchising, helping aspiring entrepreneurs understand how to make informed decisions when choosing the right franchise for their goals.

About Gregory Mohr:

Gregory Mohr is the founder of Franchise Maven, a consultancy dedicated to guiding individuals through the franchise selection process. With over 10 years of experience, Greg has helped numerous clients achieve success by finding the perfect franchise opportunities tailored to their needs. Greg’s extensive background in various industries, including fast food management, real estate, and microelectronics, gives him a unique perspective on business ownership.

In this episode, Thomas and Greg discuss:

  • Greg’s Path to Franchising: Greg shares his journey, which began in the late 1970s when he worked at Taco Bell. He eventually moved up to managing several locations before transitioning into real estate and investing in various businesses. His turning point came after reading Rich Dad Poor Dad, leading him to franchising and eventually becoming a franchise consultant.
  • What Makes a Good Franchisee: Greg emphasizes that franchising isn’t for everyone. He explains that coachability is a key trait for success in franchising, as franchise systems provide proven models that require adherence while still allowing room for creativity. 
  • Common Franchising Mistakes: Greg discusses the most common mistakes people make when entering the franchise world, such as underestimating capital needs, failing to validate the franchise's business model, and having unrealistic expectations of instant riches. 
  • Greg’s Success Stories: One of Greg's proudest moments was helping a couple get into a semi-absentee electrical services franchise. The wife, initially behind the scenes, took full control of the business and became rookie of the year within the franchise system. 


Key Takeaways:

  • Franchising Isn’t a Get-Rich-Quick Scheme
    Greg highlights that franchising takes time, effort, and commitment. Success comes from following the established system and being patient, not from expecting immediate financial returns.
  • Research and Validation Are Crucial
    Before committing to a franchise, potential franchisees should research the business model, talk to existing franchisees, and fully understand the industry. It’s important to go into the process with realistic expectations and sufficient knowledge.
  • Coachability Is Key
    One of the most important traits for a successful franchisee is being coachable. Greg emphasizes that franchise systems are designed to guide owners to success, but they must be willing to follow the model and learn from the franchisor.


"Franchising isn’t about instant success. It’s about following a proven system, being coachable, and giving it time to grow." — Gregory Mohr

CONNECT WITH GREGORY MOHR:


Website:
https://www.franchisemaven.com/LinkedIn:https://www.linkedin.com/in/gregorykmohr/


CONNECT WITH TH

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Welcome to the Never Been Promoted podcast. Hi. I'm Thomas Helfrich, your host. And we have a mission, a mission to help our brilliant entrepreneurs get better at entrepreneurship. And we're doing this stories and journeys and lessons of other entrepreneurs. It's called micro mentoring. And if you can learn more from today's show and one thing about what, you know, our guest is doing, you've taken a step towards getting better at entrepreneurship. Listen. If this is your first time here, thank you so much for coming. I hope it's the first of many if you've been here before. I truly appreciate you, coming back and listening and and contributing in your own way. If, if you if you haven't yet, please this is so important. If you like the podcast, it's so important to the community and really it's so important to the guest as well to bring more attention to what they're doing. Please 5 star this thing on Apple, on, Spotify, or Amazon Music, and, give the YouTube channel a follow if you can on youtube.com at never been promoted. You know, join the other million or so, subscribers that have jumped in. Enough shameless promotion here. Let's let's actually dive in with our guest. Greg Mohr? Am I saying that right? Moore? Moore? Yes, sir. Yes, sir. Moore. Mhmm. M o h r. See how I did that? That's a marketing technique that draw attention that's more, but there's a unique spelling. So Greg Mohr, and they're gonna be like, oh, m o h r. You're a you're the you're the franchising, like, maven. You're like a Wall Street Journal bestseller on the topic. You, you seem to know what you're doing here. So, thank you by the way for coming on the show. Thank you for having me, Thomas. It's an honor. It's, it's it's traditional here that we're gonna start with an icebreaker question. And I was looking at if you're not if you're listening, he has a background, unique thing back there. But he's got this thing that looks like a like a like a wrestling belt. So here's my question to you. If you were a professional wrestler, what would your theme song be?
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Oh, I kinda like that Rocky theme theme song on that one. You remember the last tagger? Yeah. Yeah. I like that one. People. Yeah. I don't know what's got me going.
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It's a good one. It's a like an old old school I like that. That's not like you know? Accepted. It's totally accepted. Okay. You wanna take a minute? Do your origin story, the backstory, and how you kinda got into this whole franchising game?
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Yeah. Absolutely. So, again, I'll I'll keep it short. I I could talk for a long, long time, but we'll we'll keep it down there. To get started, we'll have to go back into the way back machine. So back when I was in high school, back in the late seventies, most of us folks back then, we got jobs at fast food places. Mine just happened to be Taco Bell. Maybe they were hiring at the time. No idea. I just got into that one. Moved up in the Taco Bell world, and I come to find out I was actually working for a master franchiser. And I started helping her with her restaurants throughout the Sacramento, California area, building those up. Really enjoyed the experience. They're really just wonderful. Great team of people to work with, easy to do. Fast forward after 15 years of being a restaurant manager, 15 years of being a microelectronic circuit engineer on that, I went now I got my degree in electrical, bachelor's degree electrical engineering and physics, went on to get a master's degree in business. I read Robert Kiyosaki's book, Rich Dad Poor Dad. That one just about ruined my corporate career for me, or actually did ruin my corporate career for me. I started getting into other businesses, real estate investment. I got into, rental properties. Me and an engineering friend bought a dry cleaners, privately owned dry cleaners, storage units. Did that for a while. I eventually, after getting my master's degree, got out of the corporate world completely. Sold off my shares of the privately owned businesses to my buddy who was an engineer who also got out of the corporate world at the same time. And I said, I've got to get into my own business. That privately owned business was a bit of a challenge for me. Didn't know anything about dry cleaning at all, so we had to learn it all ourselves. But we did, a little bit of a challenge. I thought that franchising thing was really cool. I wanna get into that. Again, so I went out there, started clicking on all sorts of franchises, finally found a franchise consultant who knew they existed, really streamlined the process, made it very simple and easy, a lot less confusing. And together, he put me into a great franchise system, ran that for a couple of years, and I thought, you know, I like what that franchise consultant person was doing. He gets to help people all over the world realize their goals and their dreams of business ownership. So I went back to him and said, teach me what you do, and that was just over 10 years ago, and I haven't looked back since.
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That's I mean, it's and it's a it's a interesting one because there's, people want to become their own business for financial freedom, for, just second revenue, just change a life. I mean, there's a number of reasons we get into. But but the thing is you could put your money in the ring spot and create a horrible situation. Right? You could be like, oh my god. I bought another job. Something I'm doing. I something I wanted, like, action that is actually this is having that I IUP is so because it's you're guiding them with who they you know, their financial statements, also what they're trying to. Right? And your your role is and so I love this feature. And there's there there are different variants. So, there are guys who really care about their solutions and the good guys who really care about their customers. That's an easy question, Gloria. Which do you care about?
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Oh, you know, the the, the clients. Because I gotta tell you, when I, when I talk to people, and I learn this pretty quick, it's all about education. So first off, franchising is a great route to go. Worked up, great for me. But franchising is not right for everybody. I'm not gonna try and convince you it's the greatest thing since sliced bread because for some people, it's just not. And I've we've talked through them and I've worked with people and educate them on franchising, find the right franchise form, and it's just not the right time. They're not ready to sign that check. They're not ready to take the time out of their date to do it. That's fine. I've had them come back 3 years later and say, okay, now is the right time on that. And so many of my people send me their friends and their family members when they're through with me. That that makes me real feel really good about that. And quite a few of them have gone on become workers of the year in their franchise system. So I love working with people. I educate them, but it's really about getting you into something that you like. So basically, you'll tell the world about me. I kinda love that.
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Well, no better part, right, than than the word of referral. What what's you deposit? It's not for everybody. So who is it for? Franchising.
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If you're not coachable, it's it's not for you. You got the main main one, thing that you gotta be is coachable on that. So you've got a franchise system. Now people think that they're gonna tell you, you know, exactly what you gotta do. Well, they're gonna show you exactly what you gotta do, but there's still some creativity in there, and that's how franchise systems grow. But you've got to be coachable from the start, and you've got to be ready to make that investment commitment and the time commitment, doesn't have to be full time, many semi absentee business out there 15 to 20 hours a week, but you've got to be at that point in time in your life when you've got desire to do something different, to be more successful and to realize those dreams and those goals.
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What do you think entrepreneurship? I mean, you speak to I mean, to you. But to me define like, what does entrepreneurship mean to you personally?
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Doing what I want when I want.
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Is that freedom, time, money, all of it? What's up? What's the mindset and maybe the set of skills that are behind that mindset that makes that happen?
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Really a desire. A desire to get to where you wanna be. You know, I remember a lot of people define it different ways, willpower or strength or what have you. I remember back when I weighed £230, and I wanted to lose that weight because it wasn't very healthy. And, you know, I went out with the engineers, we'd have lunch and I'd take half that lunch and throw it in to go box right away. Wouldn't drink my Cokes even if they were free because it was my desire to reach that goal that I wanted to get. And that's really what a good trait of being an entrepreneur is is you've got a goal that you want to reach, and you have that desire within you to reach that goal and do what it takes to get there.
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Yeah. It's funny. I'm a smoothie 5. Oh, I'm not gonna show feel that right now. And you I'm gonna have to drop the time to just fix it like that. Well, not for years. Alright. If you're, you're chasing gold. Right? And it's interesting. If I backed up 4 years ago when I first started my company, I would have been in such a terrible franchise pick because I would have been coachable, but I I had to do my 0 to 0. I had that in me. I wanted to start my own day. Now I'm 4 years in, and I look back on a with marketing and trying to think. I'm like, it would've been a whole hell of a franchise package. And because I would've had a blueprint, and I would've had, you know but but you mentioned the one thing. I don't know if I would've had the word of call to just listen and follow it and execute the plan. And I think there's there's those who are approachable, which I I'm sure the one who was maybe back then, but there's also been who who haven't quite gone through the 0 to hero, and they and they they don't know they're not hurtful yet. Does that does that make sense what I'm saying? Like, they're they they wanna do their own thing. And and so how do you work through that candidate?
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Yeah. Absolutely. So, entrepreneurs, people who are entrepreneurs already. So I work with aspiring entrepreneurs and seasoned entrepreneurs both. My younger ones, 25, 30 years old, those entrepreneurs that haven't done it a whole lot yet, they're a little bit more challenging because they've they've got the, you know, desire just to go out there and just to get it done and do it themselves or looking for different ways to do it. They're a little bit more of a challenge. My seasoned entrepreneurs, you know, I've come across people who have started 3 or 4 businesses. And I'm like, why are you coming to me? Why don't you just go out there, start a business yourself, and let's turn it into a franchise together? And they're like, no. I've been through all that before. I know what it takes to get that business up and going, and I do not want to go through that again. I just wanna own another business. Nice and simple, step right in, get it going right away. So that's that's a challenge, but we work through it. There's still plenty of creativity that you can do as a franchisee, but always get to know the systems first before you start getting too too creative. I've had people come in that got a little too creative too early, that don't always work out.
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Yeah. Well, good point. I love creativity in how you do service or targeting them or higher or whatever it's gonna be. It doesn't that, and I think that's exactly you haven't when you have this need to have your you still feel like you and I think that was the new drawback. You have to answer franchise, like, the the guys like, I'm not sure. So, are there certain franchises that allow you to not have that corporate boss feel and and feel truly free to own, or they they all kinda have some level of accountability out that you're you can't escape?
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Well, they're all gonna have accountability on on that, Thomas. Each and every one of them is going to wanna make sure because they don't want that territory to sit there and do nothing. So they, you know, you've the only franchisee that can come into that territory. So they want that territory producing. So they're gonna be out there. They're gonna have some PNDCs for you on that to help you produce. But it's not like they're breathing down your neck. Now, different ones are gonna are going to be a little bit different. If you get into a franchise system that's got, you know, 3 or 4000 franchisees in it, they don't want people going out outside the box too often. They wanna keep control of everything, you know, like a McDonald's. They don't want you to be too too go out there and get too crazy because when you and I go into McDonald's, Thomas, we want the exact same thing every single time. Yeah. We don't necessarily want to go into one that's gotten real creative and all of a sudden it's got all these, you know, they're smoking a, you know, a pig back there or something like that. We've got other restaurants for that. So if you want to be a little more creative, if you want to be able to shape that franchise a little bit more, then you probably wanna look at something like an emerging franchise system that only has 5 or 10 franchisees yet and are just starting out. Now they got more room because they haven't quite defined themselves completely yet on that one. So you've got more room to grow with them. You've got some room that you can start working with that franchisor who actually built that system and start building it into something different. Hey, it just depends on, you know, how much, you want input into it versus how much you just wanna step into a proven model that has reproduced itself 100 different times, 100 different cities and different states, and where you're at in life as far as, which which direction you wanna go. What's
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with your book with that a little bit. You wrote a book about this. It's a it's a Wall Street, you're not gonna sell over time. Tell me what you're covering in the book and, you know, you know, who reads? When or which got that? Probably a better question.
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So I, published that just about 2 years ago. And the reason I published it after doing this for around 10 years is that I get a lot of the same questions over and over again. So I thought, with all these questions that I get over and over again, I thought, why not just put it all down into a book so people can have an idea of what franchising is all about? So what it is, it's a step by step process of what I will take you through, where you and I, Thomas, will sit down together to go through as far as looking at where have you been, where are you at now, where do you wanna be, and then how to investigate that franchise system. I've got real world examples of people that I work with in there on that, but it's a really good place for people to get started who are not really too sure just yet whether or not they wanna get into franchising because it's gonna it'll walk you through the whole process on their step by step. Do what to look for, the franchise disclosure documents, franchise attorneys, funding, and my last chapter in the book actually has one on becoming a franchise if you are a business and you wanna turn your business into a franchise.
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You you well, that's a whole different. That's a whole different. Right? You need poke me with 2 people. In your own what would Paul Mark, you know, the proudest moment, the the career shaping success story?
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Proudest moment I had was back when, probably, I had a guy call me up 3 years after he had, I got him into a franchise. And I usually try and keep track of my people for a while and, and see how they're doing. But they get busy and, you know, know, we don't always get together. He called me up 3 years later and left to Metro. I need to talk to you, Greg. And I'm like, uh-oh. What's that all about? He goes, he finally got a hold of me. He goes, Greg, this has been a great franchise system. I really love it. And I'm like, okay. He says, I built it up to where it is now. You know, I made rookie of my year, my 1st year. I'm 3 years into it. It's making a lot of money. Let's sell it. I I thought it was a good adventure. Let's go get into another adventure now. I'm like, wow. So those are the things that I like and I just I got a hold of another lady who when I first started, just over 10 years ago, and she's still doing the same franchise 10 years later on that one. And those, that sort of thing, you know, I I've got lots of stores like that. It just really makes me feel good. I had a couple that were looking at a, what are they looking? They're looking at a brewery. And, oh, thank God. That's great. They were in real estate investing. And And I was working with the husband. The wife was kind of in the background, but she had some good questions. And they wanted to get in they finally decided on we know we talked a lot. They got into an an electrical services franchise where that's what they wanted to get into, and they're gonna do it part time, semi absentee. So at the very last moment, the wife stood up and just said, you know what? We're not gonna run that semi absentee. I can do that. I'm gonna run that business. That's my business to run. And, here it is a year later and the and they're they're rookies of the year. She's rookie of the year on that one. And And those sort of things, it just, you know, just putting people into the right franchise and watching them succeed just just really feels good.
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Right. And what the 2 you you seem to achieve the lives in there. Found it bigger. See, I mean, successfully, you're be happier in the world. You know, have more sense of community. I I love them. Are there many challenging moments though that you, you know, you couldn't overcome or yours, you know, because you're just working through now?
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Well, some of the challenging moments was one person that I put into franchise franchising that, she wanted to be real creative. And as I said, you know, get to know the system first before you come too creative. So I was working with her on that. Usually, I don't work with them too much after. I get them into the franchise system, the franchise system takes over. The franchisor takes over to it, but I still try and stay with them to make certain that they're doing well, help them over from any hurdles that they're going through. And she was she was in Las Vegas Valley and she was in the hospitality industry, hotel, motels, gaming industry, and she was a vice president. And she picked up some, tutoring franchises. So a tutoring franchise, 3 territories. And she said, you guys aren't doing anything in the hotel motel industry. They're like, yeah, we've never, you know, tried that business model. This is our business model. This is what we do. Follow this and your chances are greater. She said, well, I'm gonna try getting up the hotels and motel. And they're like, that's cool. We never tried it, but, you know, if you want to do it, you go right ahead. It didn't work out too well, unfortunately. That was really a challenging start for her. And, you know, when you put people under there and they're and you're working with them, you wanna make certain they do good because, you know, they're spending a lot of money to do that, to get there in there and you don't want, you don't want the reputation of putting somebody into a franchise or they didn't work out. So that's why I really care about my people. So we worked through it, and she went back and started using their model and doing what they said to do. And, she's then she she shot back up there, and she's she's off to a a good start after that little blip in there. That was a challenging few moments or many, many moments for me back then.
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Yeah. I've heard that sometimes you you shouldn't pick a franchise that you have experience in because then you're kind of a closed company. You're not open to what it could be. And so if you're picking things you already know, you might know it too much to be able to run the franchise. How do how do you feel about that kind of idea?
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That, I don't know that it makes a huge difference if you don't know the industry. I put people in the industries that they don't know, but that's one of the seven mistakes that I have, listed that you don't you wanna watch out for is, you may not know the industry, but before you get involved in that industry, get to know that industry. What makes it work? What's the business model like? How do they make profit? How do they make profit? How do they get their ROI? What's the long term goals on that industry itself? So you don't necessarily have to have an overwhelming passion for it. You don't necessarily necessarily have to know it on that, but get to know it before you invest, in any franchise in a different industry that you, know things about.
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Yeah. Well, actually, it's a lovely what what are the mistakes?
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Oh, let's see. First of all, don't let what's in fashion cloud your judgment. Just because it's out there and you see a whole line of people there, it goes back to getting to know the industry and know that, know that industry well or well enough to know that you know where the profits are coming from on that one. So always get to know that. But if it's in, some of the times you can't get into things that are are fashionable or something like that if it looks like it's gonna be a long term play. But get to know where the money comes from, what's their long term solution. Make certain that you have enough capital with whatever you get into. Each franchise system is going to have certain requirements for your net worth and your liquid. Make sure you meet that. And then along the way, always make sure you talk to as many franchisees as possible, but you've got to talk to a lot of franchisees to validate all that information. Make certain there weren't any surprises, especially with the capital. Were there any expenditures that the franchise didn't tell you about, that you had to come up with? Learn those things to get to know them. You make a lot of friends along the way too. That franchisor is gonna help you grow, but all those people, those franchisees you talk, they're gonna help you grow as well. You will not be rich in a year or 2 more than likely. So don't expect to be rich in a year or 2. This will take time. It's not quite that simple to just walk right in and make a lot of money unless you just got real lucky. But, as I indicated, my people have done quite well, but don't make that don't have that expectation upfront. Funding. Funding's a good thing. Don't dismiss the funding. There are different ways to do it. Use your own money. You can use other people's money. It just depends on personal preferences on there. But check into funding to see if it's worthwhile. A lot of my investors love using other people's money on that one. And make use of free experts. So free experts out there, local school chapter, as a matter of fact, is who I use. If people aren't familiar with that, s c o r e, those are business people that have done business in your area for quite a number of years, generally retired, great people to talk to. I ran by few of my different franchises by the local score chapter when I was doing that. But as you're talking to the funding people, ask them about it. My funding people will say which ones are doing well, which ones aren't, on that because they'll know which ones are defaulting on their loans. So those are good free people. Chamber of Commerce, always use free experts whenever possible.
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Yeah. Free free and tell them experts. There's a lot of free experts, but sometimes they're not eligible. Yeah. What, what's maybe the biggest lesson learned in building your own business?
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For me, my lesson learned in building my business was that, I wanted to do a business where, pretty much I was doing it myself on that. So when you're used to, going to a job, you're used to going to a job site, you got your day planned out for you pretty much. You're getting the emails all day long, you've got the whole list of things to do. When you're an entrepreneur, it's you. Whether it be a franchise, whether it be your own privately owned businesses, it's all up to you at that point in time. Now, that franchise is gonna give you a whole list of things to do. If you got your own business, you'll have a list of things to do. My biggest challenge was getting that list together, putting those priorities in order, and not letting life get in the way. So I was working from home. After, you know, 30 years in the corporate world, I had never been home all day long, for an extended length of time on that when we were off on vacation. You know, days off from work, we were off on vacation somewhere else. So what I had to do was put together a list of things to do, and I broke mine down into like an hour by hour and sometimes half hour by hour steps along the way. What I needed to do, who I needed to call, appointments needed made, research this, do some marketing on that. With a franchise system, it's gonna help you because they're you're never gonna be wondering or guessing what to do next. If you're doing it for your own private business, like we did with the, dry cleaning business, you've got to come up with a lot of those things yourself. So the main thing that I had to overcome was making certain that I had my day planned out, what I was gonna do, when I was gonna do it, so that I wasn't getting distracted by life.
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Well, I think that's interesting. I talk about this a lot in my and all of your, your time, you know, time lost, you know, we found. Right? If you're most valuable asset, you have to manage it. You have to say no to lots of things, and and maybe a little things you might like to, like, say no to Conan shorts, you know, except for our channel. Say no to, you know, Netflix at night. Read a book on on entrepreneurship instead. Like, say, you know, say no to the extra piece of cake and go for a walk instead. Like, these little things, micro little seconds, they add up. And, you know, and I I just now I could go I've done shows on that. I'm telling you. The time you used to use right, have it set, have a goal, and cut all the crap that doesn't matter. What kinda keeps you up at night though? Like, you know, what what do you worry about from a entrepreneurial standpoint?
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What what I used to worry about, Thomas, was getting in front of enough people and getting enough people educated about franchising so I have a good flow of people in there. I no longer worry about that after getting my book done and being on wonderful shows like your installments, and then having all the people that I work with over 10 years, I don't. The one thing that does keep me up at night all the time, that I always worry about is making certain that I put my people into the right franchise system where they'll succeed. So every night when I go in for a walk, I pray that I there are no failures on my shift, that everybody that I put into franchising is successful. So that is the one thing that I'm always concerned about, that I always worry about. So I always try and, as your point was, in my spare time, get to know these different franchises. So I'm not doing that. I always want people to I never wanna put somebody into a franchise that isn't a good fit for them. So that's my worries. I used to be that, you know, just getting people and just getting in front of people was my worries on that so that I could, you know, have enough people coming in to where I could help them. But now it's, really just worrying about my individual
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people. Yeah. And it takes time too. So there's a there's a there's an investment making in writing a book and time and questions, But you can't really unless you really know the space. So I think you're, you know, people listening, go check out the book. I think it's a great place to start for you and you get an insight how to work with you at some point as well. So, smart mark, meaning 5 points for that. Good 5 dead points. You can keep those where you like. What's your topic for anybody looking to get entrepreneurship? Like, where where what do you think top thing you would tell them to do? Franchising. Just I I wanna become my own boss. That's the statement. Right? What do you what what's the tip you give them?
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Go on to Thomas's, YouTube page and to his YouTube video. They've got a lot of great information. So that was for Thomas. So for entrepreneurs out there, learn about entrepreneur. Get some books on it. There's many different books. My book is good. My book's gonna be centered around franchising, not necessarily just entrepreneurship, but franchising specifically. Go find some books out there. As Thomas said, when you're going, you know, at night, instead of watching that movie, pick up a book on entrepreneurship, different ones where people have done it. Those that's probably the best way is to educate yourself and learn what other people have done,
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good and bad. Yeah. Educate yourself. I think it'd be go go through a secret. Go do a network. Go go learn. And and I don't mean to extend your your tip, but you're you're saying educate yourself in a way that actually enriches you beyond just pure entertainment. And and the more hours you put out of entertainment, you'll be entertained by learning the the craft to get that bigger goal, that drive that you talked about. And I think a big success factor in the people, you know, I I've talked to 100 of entrepreneurs, and the ones that I can see that I know are gonna make it are the ones that are are talking with this hunger, this drug, everything possible. And that's the problem. You know, they're gonna get someone that's gonna be great. And they get the other ones who they're not as focused. They may be successful, but they won't reach their full potential because they're just, you know and and it's okay. Life balance is where if you really wanna get where you think when it goes, you're gonna have to continually learn and grow, and I think that's fantastic. So thank you. Alright. So you can fast forward a year. We're a year ahead now, and you're looking back on your year. What are you most
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my people that make rookies of the year, I love them. When I hear about them, that their first year was just great, and when they come back to me and they wanna sell their franchise because they've made enough money to where they're good and they're moving on, those are the things that that I like to hear and that I wanna hear.
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I think about so, you know, would you work in a city too? Franchise up. And then do you go either franchise? Is that a model? They love they're what I'm asking. You know, I could see myself in this I do the hard work. It's got revenue coming. I just wanna sell the assets that I'm more of it. Is that what you do? Yeah. Quite, quite often,
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probably 5050. A lot of them like to build up a legacy where they turn it over to their kids on that, and they really want their kids involved. I get quite a few people that say, I want my kids involved in this eventually. So we look for franchises where, where the that can happen. Sometimes they'll keep that one. They'll just and again, you can get semi absentee franchises where manager can run it for you. You generally want whatever business you want to. You don't want that business to evolve around you because then you can't do whatever you want when you want. So yeah. Yeah.
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I own a couple right now. It's called never get promoted in. There you go, Thomas. Yeah. You're required there. So He whatever. He's speaking to true people. If you get her in your personal brand, you're gonna hope you will get fit for a weekend. And if you have a podcast and you throw people a little rusty, you're screwed. Alright. Keep going, Tarshish. Yeah. Yeah. So entrepreneurs,
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whatever business is, franchise, even if it's your own business, make sure it doesn't revolve around you. But quite a few of my people will build it up, and they'll wanna sell it. Selling franchises is easy. Selling businesses are making money is easy too. I got lots of people to look for businesses that are making money, on that, and that's what they want. They want a business to have 1, make money. 2, doesn't revolve around the owner on that one. So great way to go. Wonderful. Just make sure business doesn't revolve around you, and there's many different ways you can go. You know, just annuity, if you got it turned over to a manager, you got an annuity coming in on a regular basis.
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Great. The last question I'm gonna ask you is how to get a hold of you. Who should we do? So so don't burn me. If there's question about, what was it?
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One question is that the one question I get from most people that they're not sure about is that when you and I are driving around Thomas, when we think of franchising, the first thing we think of is McDonald's, Taco Bell, Meineke, Mako. We don't realize that there are many different franchises in many different industries. You don't have to have a $1,000,000. You don't have to work at full time. There are service industries that are around a $100,150,000 make just as much or more than a brick and mortar that'll cost you 4, 500,000 or more on that. So just keep in mind, industry is senior care, tutoring, home improvement, office cleaning, you know, anything that you can think of, restoration services. Think of Mike Rowe on Dirty Jobs. Any one of those jobs for businesses that he talks about, there's probably a franchise in there.
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You know, I I look for dirty jobs. I always ask this question. If my guy doesn't show up, am I gonna wanna do Ben? And the answer is no. I'm not paying enough for anything. But it's so it's something to consider. Right? And and there's a lot of factors that's still labor versus this and and licensed labor. So if you buy an electric services thing and somebody doesn't show up, you probably can't show up and go through it. You're gonna have to go contract. So that's a network of other, you know, people. But but I think it's a big consideration of you're there cleaning, you know, carpets from, you know, a murder scene and that's what you do. And if you show up, you're the one cleaning the carpet that day. You better be prepared. We gotta be judged for the night as well. Yes. I agree. 100%. I've looked at it. I mean, I've always got my question. I was like, nope. I'm not gonna be doing that one. K. No one in my family's gonna jump in and help me either. Yeah. So that's another one. That one is killed. Yeah. Yeah. Did you see what I did there? Alright. Plan works. How, who should get ahold of you,
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and why should they get ahold of you, and how should they get ahold of you? So, anybody that's thinking about getting into franchise, I'm all about education. Again, I'm not gonna try and convince you it's greatest thing since sliced bread because for some people, it's just not. But we'll get to that point. So anybody interested in looking into franchising and learning more about it, don't hesitate to give me a call. Thomas told me I had to keep these, my answers to, like, 2 minutes or less. So I've been doing a short, but I can tell you, you know, I'll talk as much as you want to on that. Get a hold of me, franchisemaven.com. That's franchise, mav, as in Victor, e n.com. You can go out there. You can get my book. You can buy my book on Amazon if you want. I'd love you to buy my books on Amazon, but you don't have to. You can get a free copy off my web page. Just go there. Greg@franchisemaven.com, or just pick up the phone and give me a call at 361-772-6401.
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I love that. I always check my number too, and the truth is it's crazy when I do get a text and I reply to people like, oh, you actually I'm like, yeah. That's why I gave it out. I'm like, like, you know, I always love the companies that, like, you can never get a hold of CMO, and I get it. But the ones that do, and they actually, like, you know, someone from their office actually picks up, like, hey, hold on. Holy cow. Like, you talk about brand awareness. Thank you for sharing that, by the way, and and, it just, you know, I'd love the idea of brand values. It's it's a bit scary. All I know, I'm acknowledging that, you know, it's probably the most expensive thing you're buying outside of your house, and and this doesn't often mean equity. And and I think picking the right consultant, you know, it doesn't cost you to have a consultant. So because there's no that anybody out there, like, you know, he's not collecting money from you. And if you aren't gonna be paying somebody, you're you got the wrong consultant. You're scammed. Stop. But it's scope to have the right person to guide you on this trip because your your panel will be able to do that maybe could be useful for things, and your intentions are good. I mean, if you don't pick the right person who really cares about you and cares about you. Notice how I noticed I I'm caring about people being rookie of the year, which means you're thinking in the future about someone else's well-being and someone else's success. And you do that by 2 reasons. One, it sounds it sounds, you know, just giving away a little bit, you know, for camera. You're a good soul that actually cares. And 2, in your own business model, that's the that's the secret to success is that, oh, I use Greg and Greg helped us find the right franchise, my other friend who might be affluent. I'm gonna call it great. And and that's a smart business model. And if you're running your own franchise, by the way, that's the right idea. If I'm gonna serve this scooter, I'm gonna clean this carpet, I wanna cut this grass, or fix that electric box. I wanna do it in a way, and I want people to be in a way that those people talk about me a year from now. It's it's something that man, that thing was they were so easy to work with. And so, anyway, I'll get off my pedestal, but I think I think you're you're you're, it's the right way to be. So thank you so much for coming on today. I really appreciate it. Thank you for having me, Thomas. Very kind of you. And anybody who's waited to this point in the show, thank you. You know, this was your first time. I hope you learned something, and I hope you come back and learn more. And if you've been here before, you know, thank you as well. Like, you know, the the show is growing great, and I appreciate everyone's support to do this. If you'd like, you know, I always ask this, you know, it's so important for the 5 star reviews on our podcast and for you to give a follow on youtube.com@neverbeenpromoted. Get out there, do these things that helps the community, helps the guests, and helps us spread the mission to help a 1000000 entrepreneurs get better at entrepreneurship. Until we meet again, go out there and unleash your entrepreneur. Thanks for listening.




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