Thinking about buying a franchise?

 

In his weekly podcast, Dr. John P. Hayes offers honest advice about how to evaluate and purchase a franchise that makes sense for you.

 

Listen to the podcasts that appeal to your interests. Be sure to subscribe on iTunes, Stitcher Radio, or iHeartRADIO  so you’ll be notified when there are new topics.

 

 

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CMIT Solutions: “If it beeps or blinks, we handle it.”

Jeff Connally, president and CEO of CMIT Solutions, a franchise that provides IT services to small and mid-sized businesses, is this week’s guest on the How To Buy A Franchise Show. CMIT Solutions supports more than 130 franchisees in almost 170 locations in the U.S. and Canada. Connally describes the business as “low cost, high margin” and prospective franchisees are not required to have any technology experience whatsoever.

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New franchise teaches children how to program and code using robots

RoboThink is based on the STEM curriculum, training students in the areas of science, technology, engineering and mathematics. Targeting kindergarten through 6th graders, the RoboThink curriculum is specifically designed to be intuitive for children. Instead of just seeing their work on an iPad or computer screen, RoboThink provides robotics that children can program.

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Over the top franchising: Specialty cake decorating supplies and classes

Kevin Johnson, CEO of Over the Top Cake Supplies, is our guest this week on the How To Buy A Franchise Show. This franchise is unique not only for the products it sells and the services it supplies, but for the fact that it doesn’t neatly fit into one category or industry. First, it’s a specialty cake decorating supply store. Second, it’s a party store! Over the Top Cake Supplies locations host parties for a variety of ages: birthday parties for young children, beginner decorating lessons for home-bakers, and more advanced courses where celebrity decorators teach the classes.

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Shoney’s: Name’s the same, but that’s about it

“This isn’t your grandma’s Shoney’s,” jokes Terri Harof, Director of Development for Shoney’s, now in its 70th year. The entire look of the restaurant has changed: they added a patio for outdoor eating, contemporized the décor and added a full bar. Years ago, 90 percent of customers chose Shoney’s buffet; now, Harof estimates it’s about a 50/50 split with customers ordering entrees from the menu. Shoney’s is nostalgic for many Americans and the company’s emphasis for franchise operations is on maintaining that feeling and continuing to create lasting memories.

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Travel agencies aren’t extinct…they just work from home now

CruiseOne Dream Vacations (formerly CruiseOne) is a unique franchise in many ways. First off, total upfront costs are just under $10,000, you can work from home, and the only requirements are a dedicated computer and phone line. Royalty fees are 3%, capped at an annual $22,500, and monthly support fees are no more than $150.

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Orthodontist turned pizza franchisor: Firo Fire Kissed Pizza

In addition to real estate development, Matt Jones has owned and operated a successful orthodontics office in Lawton, Oklahoma. However, after a friend piqued his interest, he discovered his true passion involves artisan pizza. In a crowded franchise pizza market, Jones believes there is always room for exceptional food. Firo Pizza doesn’t compete with the industry leaders, Pizza Hut and the others; instead, it is a family-friendly environment which after two years has been ranked first out of 149 restaurants in Lawton.

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Multi-concept franchisor teaches small businesses how to franchise

UFG helps small businesses franchise their concepts. Jason Anderson, president of UFG-owned Accurate Franchising, fluently explains the process of becoming a franchisor. While many think hiring a lawyer to draft a Franchise Disclosure Document is all it takes, Anderson explains the FDD is just the beginning. New franchisors “underestimate the sales nature of the franchise sales process,” he explains.

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Fastest Labs franchise opportunity lives up to its name by increasing efficiency in a niche market

Former franchisee Dave Claflin cold-called a client who influenced him to examine the drug-screening industry. By eliminating the medical portion and specializing in drug-screening, Claflin developed Fastest Labs to compete against the existing providers, such as Quest Diagnostics and LabCorp. By eliminating the industry standard wait-time and collecting the sample and reporting to the employer within 10 minutes, Fastest Labs is able to outperform competitors.

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Finance a franchise with Business Finance Depot

This week on the How to Buy a Franchise Show, Dr. Hayes interviews finance specialist Paul Bosley of Business Finance Depot. Because Bosley is the preferred lender for United Franchise Group, the “hot” retail franchise, Experimac, is used as an example of how the financing process works. It costs approximately $300,000 to open an Experimac, but you can finance the majority of that cost with the help of Business Finance Depot.

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It’s all about unique French fries

Chris Covelli, founder of #getfried, is creating a network of food units that serve made-to-order topped French fries. Franchising for about a year at the time of this interview, Covelli has sold units in New York and Texas. His first Texas franchisee, based in San Antonio, acquired rights to the entire state!

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A business-to-business business providing payroll services

The “wellness industry” is valued at over one trillion dollars, surpassing pharmaceuticals. Popular businesses that exist in this industry include gyms, chiropractic centers, and massage parlors, but there’s only one franchise business that provides hypnosis, life coaching, skills building and mindful meditation training, and that’s Positive Changes. Laura Brunner is this week’s guest to tell us more about the company.

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Almost everyone seeks positive changes

The “wellness industry” is valued at over one trillion dollars, surpassing pharmaceuticals. Popular businesses that exist in this industry include gyms, chiropractic centers, and massage parlors, but there’s only one franchise business that provides hypnosis, life coaching, skills building and mindful meditation training, and that’s Positive Changes. Laura Brunner is this week’s guest to tell us more about the company.

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An entrepreneur with no clue about franchising finds My Elder Advocate

Many people who visit HowToBuyAFranchise.com are further along on the journey of becoming a franchisee than was franchisee Mark Brownstein a year ago. Nearing the age of 60, with a lifetime experience of running successful small businesses, Brownstein admits that he didn’t know much about franchising when he purchased a My Elder Advocate franchise. And what he did know, he discovered, wasn’t always true!

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The whole globe is going green: SuperGreen Solutions

Prospective franchisees across the world are discovering SuperGreen Solutions, the market leader in advising, supplying and installing domestic and commercial energy efficient solutions. The business has rapidly become the United Franchise Group’s (UFG) leading brand internationally. Tipton Shonkwiler, who oversees SuperGreen Solutions, as well as UFG’s international development, explains that the world is focused on energy efficiency, and thus SuperGreen now operates in 11 countries.

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Have you touched a sign lately?

No one, Jim Tatem explains, grew up saying they wanted to be a signmaker. But then people discover Signarama at a franchise expo and if they take time to learn about the opportunity, they’ll later drive away from the expo and all they’ll see are signs, because they’re everywhere! “You’ve been bitten by the bug when you start touching the signs,” says Tatem, who is Signarama’s brand leader.

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From auto sales to computer sales via franchising

While Jim Muir loved selling automobiles for 25 years, that career came to an abrupt end when the economy crashed in 2008 and took auto sales down with it. Since no one expected the economy or auto sales to bounce back any time soon, Muir decided he needed a new profession. Meanwhile, he went to “play” in his garage where his 20-year hobby provided a welcomed distraction. He collected, repaired, and sold Apple computers to customers who found him via eBay and Amazon. No one – including Muir – expected that he’d generate enough money to replace his full-time salary, but after one month of “playing” he had generated $8,000 in sales!

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From the rubble of 9/11 a master franchisee is born

Gregory Carafello and his wife owned a thriving multi-unit printing business, but after 9/11 they lost 70 percent of their contracts. One day, looking for ways to recover, he answered an advertisement in the Wall Street Journal soliciting prospective franchisees and master franchisees for a business called Cartridge World. He had never been a franchisee and he had no idea what was meant by “master franchisee.”

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Rare flat-fee royalty delights multi-concept owner

Meet Chad Hames, owner of two complementary franchises, Boulder Designs and Border Magic. Hames wakes up every morning loving his career! A decade ago, just shy of his 28th birthday, Hames became a multi-concept franchisee when he purchased a Boulder Designs franchise, and a Border Magic franchise.

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Camp Bow Wow seeks more absentee owners

There aren’t many franchise opportunities for people who want to keep their day job because most franchisors prefer full-time, on-site, hands-on franchisees. But Colorado-based Camp Bow Wow attracts mostly absentee franchise owners, and there’s room for many more. There are, however, some qualifiers that you won’t find with other franchise opportunities beginning with “you only need apply if you love dogs,” explains Renuka Salinger.

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Best practices for developing master franchisees

At the 2016 International Franchise Expo, Dr. John P. Hayes had the pleasure of interviewing Tony Foley, who for many years has sold master franchises for the United Franchise Group (UFG) globally. The focus of the interview was international development, but Foley, a veteran of franchise expos, shared a piece of advice that applied to all attendees, whether they were looking for a master license or a single unit franchise opportunity: “I hope they’re not here to buy a franchise,” he said. Rather, “I hope they’re here to gather info, collect data, and then do their own due diligence.”

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A sandwich shop with an Item 19!

Roasting whole turkeys and beef on a daily basis gives a Capriotti’s sandwich a taste profile that customers can’t find elsewhere, and while that’s a tempting reason to consider buying a Capriotti’s franchise, the Item 19 in Capriotti’s disclosure document is even more enticing! Listen to Bruce Evans explain why.

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Here’s how to prove that franchisees make money

One of the advantages of buying a FASTSIGNS franchise is that franchise prospects get the opportunity to prove in advance of buying a franchise that existing franchisees make money. As CEO Catherine Monson explains, FASTSIGNS is one of less than 5% of franchisors that files a financial performance representation, or Item 19, in the federally-mandated disclosure document.

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How do you feel about “putting fruit in baskets”?

“Putting fruit in baskets” is a unique aspect of the $12-billion gifting industry, and because it’s new and different, it gets lots of interest from prospective franchisees because they can easily see themselves operating the business. That’s the first step in a franchise sale, says Tariq Farid, CEO of Edible Arrangements. The prospect has to feel he or she can operate the business.

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How franchisors vet franchise prospects

Franchise prospects aren’t the only people doing due diligence before a franchise sale is consummated. Good franchisors are also doing their due diligence by spending critically important time to vet their franchise prospects. With 30 years of experience developing franchise brands, Ray Titus, CEO of United Franchise Group, has a ton of experience vetting franchise prospects. The company includes eight brands with more than 1,400 franchisees in 80 countries.

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Franchise resales may offer your best opportunity to become a successful franchisee overnight

Existing franchises for sale by their owners. What’s wrong with that? In the United Kingdom, reports Johnny Sellyn, a founder of FranchiseResales.com, a third of all franchise sales are resales. In the United States, however, franchise resales account for merely a small fraction of total franchise sales. Why? Sellyn says that American franchise buyers seem to think there’s something wrong with an existing franchise business if it’s for sale.

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Do you have the “right stuff” to buy a franchise?

Craig Slavin has devoted a career to developing the Franchise Navigator and using it as a resource to help people determine if they should buy a franchise, and if so, which franchise to buy. Everyone is “wired” differently, explains Slavin, and each person has a different value system. If you understand why you do what you do, this information could be extremely important when you decide to buy a franchise. And it may save you from buying the wrong franchise!

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Finding a franchise that matches your lifestyle

Curiosity about franchising led Christy Wilson Delk to a 15-year career as a franchisee of an early childhood education business. After losing a corporate job (more than once, she points out), she decided she wanted to do something for herself. At the time, she didn’t know anything about franchising, but when a friend mentioned the concept to her, she decided to explore options and opportunities. As the mother of a young child, it was important to her to find a job that matched her lifestyle requirements.

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Business loans in 60 days for people that qualify

Most people who buy a franchise do not write a check from their savings to pay for the business. They get business loans. Franchises that cost under $50,000 may, in fact, be paid for out of savings, but most franchise investments exceed $150,000, and most people who make those investments will require some help from a bank, a leasing company, another lender, or a combination of lenders, Jeff Sherry of 44 Business Capital explains.

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Find franchise info year-round

At the end of the 2016 International Franchise Expo (IFE), Dr. John Hayes interviewed Tom Portesy, president and CEO of MFV Exhibitions, producer of the IFE. MFV also owns FranchiseExpo.com, a portal that includes many franchise opportunities and a variety of resources for people who want to buy a franchise.

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Discover the goldmine that leads you to success as a franchisee

Franchising may likely be your best hope for building a successful business and creating your own financial independence, but it won’t happen in the wrong franchise, or if you’re a misfit for franchising. So listen to this week’s podcast to explore your options and learn how you can buy a franchise successfully. You’ll discover who to call, when and how to contact them, and this will help you explore your options in franchising.

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“Be. Do. Have.”

Franchising is an amazing methodology for building a successful business, but it’s only a methodology. Your success in franchising greatly depends on what you bring to the business. Unfortunately for many franchisees and franchisors, they’re not bringing enough. Learn how to develop your success in franchising. Learn how to implement the “Be Do Have” philosophy.

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How to package a loan to buy a franchise

Most people who buy franchises do not use their own money. They use a bank’s money. Or they use money guaranteed by the Small Business Administration. This podcast tells you how to package your loan request to buy a franchise. It also explains how you can get assistance from a professional to help you package your loan.

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Yes, franchisors will negotiate when you buy a franchise

You may have been told that franchisors will not negotiate with you when you buy a franchise, but I’€™m about to tell you that’€™s not true. It’€™s not easy to negotiate with a franchisor, and you can’€™t negotiate in every situation, but take it from me, franchisors negotiate when it makes sense to do so . . . in this podcast I’ll tell you when it makes sense and give you some ideas about the benefits you can gain by negotiating with a franchisor.

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You must do this before franchising your business

You think franchising your business is a good idea? It might be! And it might return financial rewards beyond your wildest imagination. But look, it’s a tricky business, franchising, and especially tricky to find a network of people who want to buy a franchise. It’s best if you know the initial steps to take to franchise your business, and that’s what you’re about to discover when you listen to this podcast.

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Talking franchising and personal growth on the Ziglar Show

Today I was interviewed on The Ziglar Show, one of the top five podcasts on iTunes and it’s also available on Stitcher Radio. The interview touched on numerous topics including the importance of operating a business by a system (that’s what franchises do best), personal development (that’s what Ziglar does best), and the International Franchise Expo, where I teach annually the A to Zs of Buying a Franchise in New York City. 2016 marked my 25th year of teaching people how to buy a franchise at the IFE.

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Everything you need to know about franchise Discovery Day

Everything you need to know about the franchise Discovery Day is in today’s podcast! The Discovery Day is an opportunity for you to thoroughly investigate a franchise opportunity and meet members of the franchisor’s corporate team. It’s a great time to ask questions. But beware: The franchisor is evaluating you even while you’re evaluating the franchise opportunity.

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Should you buy a franchise?  Better think twice before you answer.

Think You Can Succeed As A Franchisee? You Better Think Twice because most people can’t. Want to know if you can? Here’s the show that tells you how to find out without investing as much as a penny.

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Easiest, quickest way for you to find the perfect franchise

This week’s podcast by Dr. Hayes shows you how to narrow down several hundred franchise opportunities to quickly zero in on the best opportunities for you, financially and operationally. And you can do it all in one weekend!

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Buyer beware! Don’t select a franchise that’s wrong for you

If you have followed the steps in the previous podcasts and decided that franchising is right for you, the next critical step is to find the type of franchise that is right for you. And buyer beware! Not just any franchise will be right for you. In this podcast, Dr. Hayes explains that selecting the wrong franchise can lead to disaster.

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Become a calculated risk taker

In this episode, Dr. Hayes explains exactly what it means to buy a franchise. Buying one comes with risk, but unlike purchasing a non-franchised business, with a franchise you become a calculated risk taker.

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How to buy the right franchise for you

In this episode, Dr. Hayes explains that starting a new business, whether it is a franchise or not, comes with a lot of risk. While opening a franchise is safer than starting a business from scratch, there is still no guarantee of success. That’s why it is important that you try to find a business that is a match for your skills, your personality and your values.

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Do you have the right personality to be a successful franchisee?

In this episode, Dr. Hayes asks listeners: “Do you have the right personality to be a successful franchisee?” After answering that, he also offers you an opportunity to take advantage of a free personality survey that will help you, and Dr. Hayes, determine together if you are a good fit for franchising.

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Importance of the Operating System

In this episode, Dr. Hayes explains the importance of a comprehensive franchise operating system that really works. Before you invest your money, it is critical to find a system that works for you. After you’ve paid you money, it’s too late.

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Franchising is not for everyone

In this episode Dr. Hayes explains why franchisors do not want to sell franchises to entrepreneurs. They want franchisees who are willing to follow the rules and that is not in the entrepreneur’s DNA.

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Are you a franchise prospect?

In this episode Dr. Hayes explains that franchising is not for everyone. Dr. Hayes tells you what you need to know to determine if you are a good prospect to succeed as a franchise owner.

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Buying a franchise isn’t right for everyone. Is it right for you?

In this episode, Dr. Hayes explains that the first step to researching, evaluating and purchasing a franchise business begins with an honest self-analysis.

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Your first step to financial independence

In this podcast, Dr. Hayes explains how owning the right franchise can be the first step on the way to financial independence.

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Should you buy a franchise? If so, which one?

Internationally recognized small business speaker, personal business coach and Amazon best-selling franchise author Dr. John Hayes offers an honest look at everything involved in researching, evaluating and purchasing a franchise business.

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