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Franchise Rising is uniquely dedicated to empowering women along the journey to franchise ownership and investment. We offer honest perspectives from the women rocking it in franchising, those who exited, data, expert insights, and simple tips to help someone in this position make a sound decision.
Episodes
Tuesday Jun 19, 2018
Tuesday Jun 19, 2018
Do you ever feel like your plate is too full, and wonder if you can manage franchise ownership on top of everything you already have going on? Meet Emily Palmer, European Wax Center Franchisee, owner of a mortgage brokerage business, and mother to two young boys.
This week, Emily shares her experience as a first-time franchisee with Erin, going into the good, the bad, and everything in between. Listen to hear the lessons she’s learned about the franchise world and the valuable tips she has for other women considering franchise ownership.
What We Cover
* Introducing Emily Palmer, European Wax Center franchisee
* Challenges of running a franchise as someone with a true entrepreneurial spirit
* Things Emily would do differently if she could start over
* Questions all prospective franchisees should ask before making a buying decision
* How she runs her business day-to-day
* The value of your franchise’s built-in support system of other franchisees
* Special offers from Emily’s European Wax Center location
* Business advice for women considering franchise ownership
Resources We Mention
* European Wax Center Solana Beach
* European Wax Center Corporate
Get Inspired by Emily
* “I have my other company I’m working with, and I also have two young boys, and outside of that have the third responsibility of the wax center. I kind of liked the fact I didn’t have to recreate the wheel.”
* “I found a lot of help from other franchisees, telling them my story, meeting them, asking what they recommend. I got a lot of coaching from them.”
* “Know what you’re looking for. If it is a business or a franchise, do you believe in that product? Why are you opening a store? What’s your personal goal? Research what you’re buying into.”
* “Talk with as many people as you can and get the good, bad, and the ugly stories. You want to hear all of it, and you’ll probably go through all of it.”
What Do You Think?
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Sunday Jun 17, 2018
Sunday Jun 17, 2018
Lisane Basquiat is the owner of Hera Hub Carlsbad, founder of Shaping Freedom, and the co-founder of Transition Haven. While running three businesses may make her sound like a serial entrepreneur, Lisane’s background is actually in corporate - she worked for Fortune 500 companies for 23 years before deciding it was time to take control of her destiny and work for herself.
Listen to hear what it was like for her to transition from corporate to entrepreneurial life, the difference business ownership has made in her life, and advice for women looking to make the shift into business ownership.
What We Cover
* Introducing Lisane Basquiat
* The qualities that attracted her to the Hera Hub Carlsbad ownership opportunity
* Reasons she chose to buy a licensed concept instead of starting from scratch
* The power of surrounding yourself with other entrepreneurs
* The importance of confidence in business ownership
* Initial expectations of business ownership vs. reality
* A comparison of her life today vs. what it was like working in corporate
* Business goals for Hera Hub Carlsbad
* Erin’s three questions
Resources We Mention
Get Inspired by Lisane
* “When you make the decision to become an entrepreneur, it is really important that you also build community around you.”
* “You want to set yourself up for success, and one of the very first and fundamental ways to do that is to get yourself around other people doing similar work, whether they’re entrepreneurs owning their own business, whether they’ve bought a franchise, whether they’re licensing something. Get yourself around other entrepreneurs.”
* “When I have those moments when I’m frustrated or feeling a little overwhelmed, I remember working for other people and I remember what that felt like… and this is so much more fun, and lighter, and impactful than any of the work I did in 23 years [in corporate] combined.”
* “If you’re at a place in your career where you really want to do something for yourself and you really want to be tied into and dialed into true pay for performance, then a license model or a franchise model is an absolutely wonderful way to be able to do that while also giving you a head start of building a complete business.”
* “ Don’t go at it alone. Surround yourself with like-minded people who are going to encourage you, who understand what it’s like to be in business for yourself, who will celebrate your wins, and help you overcome the obstacles that come your way.”
* “Get rid of any belief you have that you could never do as well as you’re doing in corporate.”
* “Trust yourself and have courage. Believe in yourself. Believe you can generate at least the revenue you were making through working for someone else, yourself.”
What Do You Think?
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Tuesday Jun 05, 2018
Tuesday Jun 05, 2018
Erin and Angela Coté chat again this week, this time discussing “The DNA of a Franchisee”. In her years in the franchise space as a franchisor, franchisee, and now franchisor consultant, she’s noticed there are 10 qualities that every successful franchisee shares, not matter the brand.
Listen to hear the qualities Angela has found the most successful franchisees have in common, and the ways those qualities can shape their business outcomes.
What We Cover
* The importance of being financially prepared
* Why you a franchisee must be systems oriented
* The flip-side: you’ll also need a touch of entrepreneurialism
* The power of loyalty for the brand
* Why you need to be patient as a franchisee
* The role of leadership skills
* The importance of being team-oriented
* Why a franchisee must be sales-oriented
* Ways being community-oriented can boost your business
* The power of true grit
Resources We Mention
Get Inspired by Angela
* “The most successful franchisees are the ones that are community-oriented, sales-oriented, and team-oriented.”
* “I’m trying to bust the myth that franchising is turnkey.”
* “At the end of the day, you’re a business owner and you’re the one responsible for whatever happens in that business. It takes hard work.”
* “When you’re a business owner, you’ve got to have grit and the endurance to work hard.”
* “You have to be hard working or else you’re leaving money on the table.“
What Do You Think?
We’d love to hear from you! Share your thoughts on Facebook or Twitter, or leave a review on iTunes. Your honest reviews help others discover the series and start their franchise journeys.
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Tuesday May 22, 2018
Tuesday May 22, 2018
Jane Stein is a franchise consultant whose company, “Your Franchise is Waiting”, provides support and services for women looking to buy a franchise. Franchise ownership can take many forms, so this week Erin and Jane discuss different models of franchise ownership:
- Owner-operator of a single unit
- Multi-unit ownership
- Semi-absentee ownership
- Buying an existing franchise
- Area developer
- Master Franchise
As you listen, think about which model looks most like the pathway you envision for yourself.
What We Cover
* Introducing Jane Stein
* Owner-operator vs. semi-absentee franchise ownership
* Building an empire through multi-unit franchise ownership
* Low-risk business opportunities good for first-time franchise owners
* Weighing the pros and cons of investing in a trendy business model
* How to buy a pre-established franchise location
* How to determine whether a brand is franchisee-friendly
* Area developer opportunities and ideal candidates for those roles
* Master franchise opportunities
Resources We Mention
* Zoracle Psychometric Assessment
Get Inspired by Jane
* “My idea was to differentiate. I was going to get into this business and raise the bar. I’m going to provide an entirely new level of services that people aren’t getting elsewhere.”
* “Underlying most people’s fascination with and desire to own their own business is a very emotional decision.”
* “The difference [of owning your own business]? You love it and it’s yours. It’s exciting. You’re building something and it’s important to you. It just feels different.”
* “Once you get up over 3 locations of a brand, that’s when the magic happens in terms of higher margins, you can manage your staffing more easily, you can move your inventory where it needs to be.”
What Do You Think?
We’d love to hear from you! Share your thoughts on Facebook or Twitter, or leave a review on iTunes. Your honest reviews help others discover the series and start their franchise journeys.
Let’s Stay Connected
Subscribe to the show to hear more episodes like this!
Tuesday May 15, 2018
Tuesday May 15, 2018
Deb Evans is the founder of Deb Evans Consulting, where she specializes in training franchise industry leaders in marketing, specifically focusing on ways they can use social media to grow their brands. She’s also the co-host of Social Geek Radio, a podcast that covers the latest trends in technology and digital marketing.
This week, Deb and Erin discuss the power of social media - what brands should be doing to promote themselves on social, and ways prospective franchisees can use social media to research potential opportunities.
What We Cover
* Introducing Deb Evans
* Reasons why businesses need a social media presence
* Ways franchise candidates can use social media throughout their research and buying processes
* How franchisees can use social media to improve their brand appeal
* Ways brands can engage with influencers and brand ambassadors
* Questions to ask about social media before buying a franchise
* Erin’s three questions
Resources We Mention
* Woops
Get Inspired by Deb
* “You have to have social in your marketing strategy. You have to have it!”
* “There are elements of social that [everybody] can find in their comfort zone to implement that strategy.”
* “If you’re a franchisor looking for franchisees, they’re searching for opportunities on the internet, so you’ve got to be present.”
What Do You Think?
We’d love to hear from you! Share your thoughts on Facebook or Twitter, or leave a review on iTunes. Your honest reviews help others discover the series and start their franchise journeys.
Let’s Stay Connected
Subscribe to the show to hear more episodes like this!
Tuesday May 08, 2018
Tuesday May 08, 2018
Dan Durney is the owner of FranMaster, an outsourced franchise development and coaching company for emerging franchisors. Best known for his involvement in the launch of franchise behemoth Massage Envy, Dan‘s brings unique insights into the world of franchising based on his 14+ years of experience.
This week, Dan and Erin take a deep dive into the four main steps in the process of buying or investing in a franchise:
- Qualification
- Disclosure
- Validation
- Discovery
What We Cover
* Introducing Dan Durney, owner of FranMaster
* Defining emerging franchises
* “Awarding” a franchise vs. “selling” a franchise
* How the franchise sales process begins
* Questions asked during qualification
* Defining the Franchise Disclosure Document and how you should approach and assess it
* Explaining the validation process
* What to expect at Discovery Day
* Franchise Development Consultants and others involved in the sales process
* Erin’s three questions
Resources We Mention
* OrthoNOW
Get Inspired by Dan
* “At the end of the day, the process is always the same. What is the person trying to achieve? Is this a match at a high level for what the franchisor is trying to accomplish and who they’re looking for? Is this person a match for that particular brand?”
* “The Best business advice I’ve ever heard is to listen more than you speak.”
What Do You Think?
We’d love to hear from you! Share your thoughts on Facebook or Twitter, or leave a review on iTunes. Your honest reviews help others discover the series and start their franchise journeys.
Let’s Stay Connected
Subscribe to the show to hear more episodes like this!
Tuesday May 01, 2018
Tuesday May 01, 2018
Katie Smith had been a stay at home mom for 11 years when she decided to take the plunge into entrepreneurship, opening a Cookie Cutters franchise in the Boise, Idaho area.
This week, Erin dives into her inspiring story, and Katie shares her fears before opening, the successes she’s experienced so far, and how she manages to run a business while being a mom to four daughters who are always on the go.
What We Cover
* Introducing Katie Smith, Cookie Cutters Franchisee
* The process of deciding she was ready to buy a franchise
* Financial questions and qualifications before buying the franchise
* Why Boise was the right market for Katie’s business
* Finding balance between motherhood and business ownership
* Leaving a legacy for her daughters
* Advice for prospective franchisees based on Katie’s own experiences
* Erin’s three questions
* Special Deals at Cookie Cutters - Meridian
Resources We Mention
* Cookie Cutters - Meridian Facebook
* Cookie Cutters - Franchise Opportunities
Get Inspired by Katie
* “Having all daughters, I really want to show them that this can be done.”
* “You can do this. You can have that dream of owning a business. You can be in charge.”
* “Don’t ever let anyone tell you you can’t do it, and don’t tell yourself you can’t follow your dream.”
* “Just because something is hard, doesn’t mean it can’t be done.”
What Do You Think?
We’d love to hear from you! Share your thoughts on Facebook or Twitter, or leave a review on iTunes. Your honest reviews help others discover the series and start their franchise journeys.
Let’s Stay Connected
Subscribe to the show to hear more episodes like this!
Tuesday Apr 24, 2018
Tuesday Apr 24, 2018
Aubree Coderre has spent about four years in the franchise space. While that makes her a relative newbie, her voracious appetite for education and networking has helped her learn the industry inside and out.
This week, Erin sits down with Aubree to cover a range of topics related to franchise investment and ownership, learning Aubree’s tips to help franchisees thrive.
What We Cover
Introducing Aubree Coderre, National Sales Manager at C Squared Social
What is a franchise’s “secret sauce”?
The importance of values alignment between franchisee and franchisor
Networking, education, and mentorship opportunities
The lifestyle shift from employee to business owner
Erin’s three questions
Resources We Mention
* International Franchise Association
* Multi-Unit Franchising Conference
* Franchise Update Media Group
* Jenna Lamb, Nothing Bundt Cakes
* Mary Ann O’Connell, Fran Wise
* Rebecca Monet, Zoracle Profiles
* Deb Evans, Deb Evans Consulting
Get Inspired by Aubree
* “Just because a system is a system doesn’t mean it will work for everybody.”
* “Your values, what motivates you, what drives you, is really important for you to be successful long term.”
* “Always be authentic and always be honest. Commit to who you are and owning that is the best thing you can do for yourself.”
* “Show up. Be present. Get involved. Be engaged.”
What Do You Think?
We’d love to hear from you! Share your thoughts on Facebook or Twitter, or leave a review on iTunes. Your honest reviews help others discover the series and start their franchise journeys.
Let’s Stay Connected
Subscribe to the show to hear more episodes like this!
Tuesday Apr 17, 2018
Tuesday Apr 17, 2018
Erin connected with Angela Coté last Fall at during the FranTech conference, where they immediately connected over their passion for innovation and supporting women. Angela is an expert in the franchise space in every sense of the word - her family owned a major Canadian franchise, she’s a multi-unit franchisee, and she now consults franchisors to help them achieve exponential growth.
In this episode, Angela shares her Five “Rockstar” Questions every prospective franchisee should ask before making her buying decision:
- Do you have a passion for the brand?
- What are the company’s core values and purpose?
- What support systems does the franchisor have set up for franchisees?
- How many transfers and/or closures has the franchise experienced and why?
- What technology does the company have in place to create efficiencies (and ultimately profitability) for franchisees?
Learn the answers you’ll want to hear to know you’re making a sound, informed franchise buying decision.
What We Cover
- Introducing Angela Coté, franchise expert
- The role of passion in your franchise buying decision
- Why brands need a purpose and core values
- Typical support systems for franchisees
- The why behind franchise transfers and closures
- Recommended technologies to help franchisees thrive
- Erin’s three questions
Resources We Mention
- Angela Coté’s Website
- Angela’s YouTube Channel
- Angela’s Facebook Page
- Angela’s LinkedIn Page
- Angela’s Instagram Page
- M&M Food Market
- Nurse Next Door
- Tutor Doctor
- Just Between Friends
- FranTech Franchise Innovation Conference
Get Inspired by Angela
- “Do you really love the business? When you’re heart’s not in it, it’s harder to make it profitable.”
- “It’s a common misconception that the brand will sell itself. You have to be excited and out there driving business.”
- “Don’t get stuck in the world of thinking. Take action, try it out, and then you’ll know if it works.”
What Do You Think?
We’d love to hear from you! Share your thoughts on Facebook or Twitter, or leave a review on iTunes. Your honest reviews help others discover the series and start their franchise journeys.
Let’s Stay Connected
- Franchise Rising Website
- Franchise Rising Facebook
- Franchise Rising Instagram
- Franchise Rising Twitter
- Franchise Rising YouTube
Subscribe to the show to hear more episodes like this!
Tuesday Apr 10, 2018
Tuesday Apr 10, 2018
Ever considered turning your business into a franchise? Thought about buying or investing in an already existing franchise? You’ll need to know exactly what a franchise is before doing either of these things.
In this episode, Erin chats with Carmen Chavez de Hesse, owner of Echo Growth Strategies, about the three factors that make a franchise a franchise vs. a licensed business:
- National trademark registration
- Systems and support
- Ongoing fees in exchange for the trademark, systems, and support
Listen to get into the nitty-gritty details of franchising.
What We Cover
- Defining a franchise
- Licensing vs. franchising
- Mandated timeline for buying a franchise
- Questions to ask when doing due diligence on a brand
- Corporate locations vs. franchise locations
What Do You Think?
We’d love to hear from you! Share your thoughts on Facebook or Twitter, or leave a review on iTunes. Your honest reviews help others discover the series and start their franchise journeys.
Let’s Stay Connected
- Franchise Rising Website
- Franchise Rising Facebook
- Franchise Rising Instagram
- Franchise Rising Twitter
- Franchise Rising YouTube
Subscribe to the show to hear more episodes like this!