Franchising 101

Tim is an expert on franchising, and it’s obvious! I love how he is down to earth, and how he interacts with the guests.

I’m giving three stars because I think Tim is a good guy and means well. And You can learn a lot about the franchise “process” via these podcasts. That said, if you engage with him and his company to assist you with finding a franchise, you should also know that he is very very well paid. There is a reason his service is “free”. A huge chuck of your initial franchise fee that you pay to the franchisor (assuming you sign up with one) will go to Tim as a finder’s fee for him bringing you to them. He’s doing well for himself, believe that. As part of Tim’s process he will try to help you narrow down what type of franchise industry is a good fit for you (such as “home services”). Ultimately, he will give you 3 or 4 franchises that he thinks are a “fit”. He will set up calls and meetings with these people on your behalf. Folks, do not under any circumstance feel pressured into choosing any franchise he presents. If you don’t love or don’t feel “It” with any of them, do not move forward with more conversation. You are not under contract with Tim. Tim is nice and friendly and puts you at ease. But Please don’t let that make you feel pressured or obligated to him in any way. If you have any doubt or question on the options presented, you must listen to it, and stop the process. Frankly, take your sweet time and do your own deep research. Do not rush this. Understand that in signing up with a franchise, you are making a huge commitment that can affect you for many many many years to come. Frankly if it doesn’t work out, could destroy your future and financial well being. If you make it to a “discovery day” listen to your gut and intuition. If your feelings about the franchise (and its people) is anything less than head over heels in love, do not sign up or move forward. If you absolutely must sign up with a franchise, make sure they have a secret sauce that nobody else can duplicate or duplicate well. Also, do not sign up with any franchise brand that has not been operating at least 5 years. And I’m not talking about test market. I’m talking about operating actual franchise locations for minimum of 5 years. Unproven brands are dangerous. Don’t get sucked in by the shiny object. I hope this review helps someone from making a decision they regret. I’ll be regretting mine for years to come.

Went through the process of opening a franchise through Francoach and the Brokers representing the Franchise OfficeMart to be sold a bankrupt pipe dream that cost $55k. Which I will not be getting back despite fraud being committed because they have no money and no assets. Everyone I spoke to simply said “sorry, tough luck.” Good luck.

Lots of great info in this podcast. I had toyed around with the idea of franchise ownership but never took the time to do a lot of research and ask questions. This goes through a ton of major and important topics. I ended up listening to all of them from beginning to end! I am now working with FranCoach looking into options for myself to own a franchise and it’s been a great experience. Highly recommend if you are interested in exploring franchise ownership deeper after listening!