S8 E5: Listener Mailbag: Your Hottest Franchising Questions Answered

The Wolf is breaking it down solo for this special Q&A session, where he’s answering your most burning questions about the world of franchising.  What are the different strategies and considerations involved in owning one to two locations versus four to five locations? Are home services and non-brick-and-mortar franchises the place to hedge your franchising bets?  From the costs of hiring a fast food general manager to the best value propositions for aspiring entrepreneurs, The Wolf provides his most valuable insights and advice from his years of experience. The Wolf also addresses the excitement around pet-related franchises in 2024 and the importance of speaking to franchisees to get an accurate picture of the business. Plus, find out his best thoughts about industry red flags and how to avoid “snake oil” franchises. 00:00:00 - Investing in Profitable Franchises for Returns 00:01:48 – The Hype Around Home Service Brands 00:05:18 - Top Franchise Choices for Investment 00:06:37 - Overhead Comparison for Owning Multiple Locations 00:07:57 - Outsourcing and Hiring for Growth 00:11:36 - American Fast Food Franchise Saturation Concerns 00:18:33 - Exciting Pet Franchises in 2024 00:23:51 - Key Attributes for Successful Franchise 00:25:10 - Franchising Red Flags Paylocity offers the only modern HR and payroll solution that makes real-time recommendations to drive better business outcomes. Paylocity is the modern, all-in-one platform that makes HR and payroll easier — so you can focus on your employees. We’ll make onboarding faster, recruiting smarter, and compliance simpler. To learn more visit paylocity.com/restaurants. Follow The Wolf:  Newsletter: https://workweek.com/brand/the-wolf-of-franchises/ YouTube: https://www.youtube.com/@thewolfoffranchises Twitter: https://twitter.com/franchisewolf Website: https://www.krokit.com And for exclusive insider content, don’t forget to check out my YouTube channel. Are you a future franchise entrepreneur? Find all of the tools you need to launch, operate, and expand your franchise empire with the platform created by The Wolf himself, Krokit.com. And if you’ve enjoyed listening to Franchise Empires, I’d be so grateful if you could drop me a 5-star review on Rate My Podcast. Thank you so much!

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Most startups are doomed to fail. But there’s an alternative route to financial freedom for hungry entrepreneurs. One that involves far less risk, far more work-life balance, and just as much profit. Franchises. Franchise Empires gives aspiring franchise owners the playbook to build a multi-unit franchise empire of their own. Every episode we hear from guests who are building their franchise empire: Franchisees who started with one unit and aren’t stopping until they get to dozens, hundreds, or even thousands more locations. Hosted by The Wolf, you’ll hear exactly how to turn your ambition into tangible actions and take your first steps up the franchise ladder. We’ll break down the steps you need to take open your first franchise, your second location and beyond, along with the many pitfalls to avoid. Wolf answers all your questions about owning and running your franchise, and interviews guests with first hand experience like Greg Flynn, the multi-billion dollar restaurant franchisee, Jamie Weeks, the largest OrangeTheory franchisee in the world who’s launching his own fitness franchise SweatHouz, and Jason McGowan, Co-founder and CEO of Crumbl cookies. Want to get started on your franchise owning journey? Tune in every Tuesday for a new episode. Make sure to subscribe wherever you get your podcasts. Interested in participating as a guest at Franchise Empires? Submit your request here!