87: The Benefits of Franchising vs. Starting a Business from Scratch with Jon Ostenson
BiggerPockets Business Podcast
Shownotes Transcript
You hear the word “franchising”, what’s the first thing you think of? For many people, they think of selling hamburgers, sandwiches, or opening up convenient stores. To franchise matchmaker and consultant Jon Ostenson, that’s just the surface level. There is a whole world of franchising that many entrepreneurs and business professionals don’t know about.
Jon started out working in consulting for Fortune 1000 companies and was slowly introduced to the concept of franchising. Jon found franchising incredibly interesting, as a cross between new business ownership and existing systems/infrastructure. The business model purely made sense.
Now as the CEO of Franbridge Capital), he works with entrepreneurs and franchise owners as a matchmaker, seeing who would work best with which franchise, and vice versa.
Jon walks through some of the key benefits of franchising that other business models don’t have, and some of the dangers for interested entrepreneurs. He also goes through the different franchise business models and some franchise examples that you may have never thought of.
How much risk is in franchising? Does franchising produce better ROI) than other businesses (even real estate)? What are the opportunities in 2021 for franchising?
Hearing Jon’s answers may present a whole new world you never knew about, and might even get the ball rolling for you to become a partner in a franchise yourself!
In This Episode We Cover:
The different** types of franchising** businesses
The **key benefits **of running a franchise
The **dangers **of franchising that entrepreneurs should know
What type of **profit margins **you can make with franchising
How **territories **work when buying into a franchise
Taking over an existing franchise or starting a new one yourself
How to fund franchises (even with retirement accounts!)
The industries where franchises could be taking off in 2021
And So Much More!
Links from the Show
Check the full show notes here: https://www.biggerpockets.com/bizshow87
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