Shownotes Transcript
With proven success developing 26 franchise brands across multiple industries, Joe Malmuth brings over 15 years of experience, progressive thinking, motivation, and enthusiasm to the world of franchising. Known for his unique ability to seamlessly blend the art and science behind a revenue building franchise development program, Malmuth has been instrumental in the accelerated success of many world-class and innovative brands. Joe’s expertise in starting new franchises and developing growth in established brands is unmatched. In our conversation today, Joe explains the benefits of a tight niche with a wide net, unique advantages to franchising, and the key to creating successful systems within a business.
** ** Key Takeaways: [2:22] - Joe shares his background and how he started in franchising. [3:52] - Over his career, he has worked with franchises that are just starting and some are established brands. [5:01] - Batteries Plus has been around since 1986 and started out as a local battery shop. [7:00] - All Batteries Plus locations are in retail spaces and is a niche with an unusual model and wide net. [8:48] - There are things about this niche that give Batteries Plus a unique advantage. [10:22] - The tight niche makes for a stable business. [12:18] - Single unit franchisees are great and continue to be brought on with Batteries Plus. But the model is really successful for multi-unit franchisees. [14:58] - Joe describes some of the services and programs for helping franchisees to scale their business and operate at a high level. [17:19] - The retail part of the business is reliable, but the commercial side of things is where the growth is. [18:46] - There’s no real ideal market. There are Batteries Plus locations in all types of cities. [20:47] - Joe shares recent growth in Batteries Plus franchises and goals for the future. [22:16] - What type of franchisee is a good fit for Batteries Plus? [24:43] - Franchising is growing and isn’t going anywhere. It’s a successful business model. [25:56] - The key to success in franchising is grit.
** ** Mentioned in This Episode: Batteries Plus Website) Batteries Plus Franchising Site)
