The job numbers have been awful. Unemployment is growing and more layoffs are coming. 

There are many reasons to become a franchisee. Nat and Pete think a major one is to achieve career security and income security. They have learned that a fantastic option is franchise ownership.

Many business owners are tired after this year and are looking to sell their locations. It is a sellable asset.

It's goal-setting time! Nat and Pete like to take time at the end of each year to set goals for themselves and their businesses. Over the years they have tried many different methods and have refined their style. But they are also still learning!

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. 

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.

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.

 

When researching a franchise to invest your hard-earned money into, there are many things to consider.

You can choose a new and exciting franchise with a lot of potential or select a franchisor with more experience. There are advantages and drawbacks to each option.