Episode description
Episode description
Welcome to a new episode of The Founder Podcast. Dreaming of business ownership, but franchising sounds more appealing than starting from scratch? Today’s episode is your golden ticket. Franchising guru Lance Gramlich, the "King of Franchising," shares his secrets to success. Learn why leadership beats passion in franchise selection, discover the power of asking the right questions, and uncover the financial potential of franchising (think 3-5 times cash flow on resale!). Highlights: "Forget about your passion. Use your skills, but leadership. Look at the leadership of the business you're getting into." "The validation stage or process is gold. When you ask the right questions..." "In franchising as a franchisee you're going to sell for three to five times cash flow typically." Timestamps: 00:00 - From Wall Street to Franchise King 01:41 - Finding Your Way into Franchising 03:56 - Taking the Gopher Role: Learning from the Ground Up 04:55 - Making Money Doing Anything: The Entrepreneurial Spirit 10:00 -The Importance of Intrapreneurship and Experience 13:32 -The Krispy Kreme Rollercoaster: Boom and Bust 15:00 - Beyond Food Franchises: Exploring Profitable Options 17:35 - Don't Follow Trends, Choose Longevity 20:00 - The Validation Process: Don't Get Married Too Quickly 25:00 - Franchising for the Hands-Off Investor: It's Possible! Looking to scale your business? Want to learn directly from the same team that helped me sell my last business for 9 figures? Click this link below to check out how you can work with us. https://nextlevelhomepros.com/grow-home-service-vsl Join my community - Founder Acceleration https://www.founderacceleration.com Apply for our next Mastermind:https://www.thefoundermastermind.com Golf with Chris https://www.golfwithchris.com Watch my latest Podcast Apple- https://podcasts.apple.com/us/podcast/the-founder-podcast/id1687030281S Spotify- https://open.spotify.com/show/1e0cL2vI1JAtQrojSOA7D2 YouTube - @thefounderspodcast