Podcast Episode 89: To Franchise or Not To Franchise?

Should you take the time to cash in on an already built brand or move forward with your own brand?

I was recently on a phone call with a dynamic woman who was concerned about investing in a franchise or move out on her own.

It’s a scary topic – I know that because I’ve actually been part of a franchise and I’ve run my own businesses. I’ve seen both sides of this coin and there are pros and cons to each one.

From her aspect, her fear was, “Am I going to get left behind by a brand that’s going to be so big and so strong that I won’t be able to compete?”

We all want to be the competition killers in our markets.

It led me to say what are the pros and cons – if I were to go back and do it all over again, would I go the franchise route or move out on my own?

What are the questions I need to answer? What nuances must I know regarding franchises?

I share my own experiences as well as some really good to know facts about franchising that I wish someone had told me before I got into it.

So listen into Episode 089 and you’ll learn:

  • The difference between a product-based franchise and a people-based franchise
  • When having a franchise what will make or break your business?
  • More liberal franchises versus turnkey franchises…
  • The specifics on marketing, lead generation and sales processes for franchises
  • The importance of having qualified support staff
  • What are your monthly franchise fees and are they affordable?
  • What is the typical failure rate for a franchise?
  • All about the build-out and what questions you need to ask
  • How does a protected territory radius affect me?

Join my Ready Aim Empire tribe to find incredible insights from other entrepreneurs and share your own takeaways!

With grit + gratitude,

Xo Lisé

Recommended Episodes

  • Looking ahead to 2024: Coach Peter with guest Janine Francke – Finding great staff, assets and liabilities around trainers & competition. A perspective from France and Germany.

    Y'all, In every challenge lies an opportunity. And nobody knows that better than Janine Franke. In EPISODE 597, Janine opens up about her journey from globe-trotting expat to pioneering yoga in Strasbourg, France.  Here’s what we’re getting into: Janine's approach?  Viewing every hurdle not just as an obstacle, but as an opportunity to grow and…

    Listen Now

  • Looking ahead to 2024:  The United Kingdom

    Y’all, Just when we thought we'd seen it all…2024 rolls in with its bag of surprises. From the lingering effects of COVID to the brave new world of AI, this year is shaping up to be a rollercoaster of innovation, adaptation, and, yes, a little bit of hustle. In our latest chat – Episode 596…

    Listen Now

  • Looking ahead to 2024:  Strategies for Success in Canada

    Y’all, Big News from the North! And who better to deliver it than the brightest minds in the Canadian fitness industry, Hannah and Emily? In Episode 595, they're not holding back.  They're sharing the full scoop on what's hot, what's new, and what's revolutionizing the fitness landscape in Canada. (Our Canadian friends are in for…

    Listen Now

  • Looking ahead to 2024: Marketing Edition

    Y’all, 2024 is here, and guess what?  It's time to shake things up.  Traditional tactics? They're taking a backseat.  It’s time to embrace the future. In EPISODE 594, we're diving headfirst into the marketing trends that are totally reshaping the fitness world.  Let’s dive in:  Why should you care about all this? Because these aren’t…

    Listen Now