On this episode, Nat and Pete discuss many ideas and share quite a few stories, including how Pete would repossess cars from the Minnesota Vikings and Nat proves his half-day theory of entrepreneurship.

Pete and Nat have worked with so many franchisees that they are starting to see some common mistakes newbies make when they start their business.

Allison Zorich from Guidant Financial joins Pete and Nat on the podcast today to discuss the changes to funding franchises in 2021. 

You are interested in becoming a franchisee? Awesome! You are about to take a huge step in owning your income instead of renting it. But, do you know where to start?

The Franchise Disclosure Document is a big step in the investigation process. When Nat invested in his first franchise, he skipped it (he's more of a ready, fire, aim guy sometimes). He doesn't suggest that approach. Both HYS consultants think you should spend the time to really read the FDD when you have narrowed down your choices.

We have helped many franchisees own a franchise in our years as consultants. We have also seen the same mistakes repeatedly (we even made a few as franchisees). And while none of these mistakes will spell the outright failure for a franchisee, making any of them will make running your business harder... and less profitable.

The end of one year is upon us. As the holidays kick-off and work tends to slow down, now is the time when many people start to set goals. How many people actually take time to set goals that stick past January 15th, however? Very few.

Becoming a franchisee is a big step. It requires an investment of time, effort, and capital to get a new business off the ground. As a new franchisee or a franchisee candidate, there is a crucial step that is often overlooked: the franchise exit strategy.

As we approach a new year, HIRE YOURSELF is learning from 2020. This year was certainly a turbulent year. If you have heard an episode of the HYS Podcast, you know that we love to call this year a Black Swan event. But, even though this year was irregular, it does not mean there is nothing to learn. Franchising trends in 2021 will be profoundly affected by 2020.