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And you have to have an edge when you step into that world to be able to do this calfresh program loan to pay rent when have no income right. As Carol mentioned, we are going to skip the four part of the four more because you were with us on episode 20, and you gave us the answers to your four questions. I hope everybody will go back and listen to that, but I definitely want to give you the opportunity to address the more part of the four more. And for anybody that may want to start a David Greene team elsewhere in the country, where they can reach out to you to get more information. To get ahold of me, you can either message me on BiggerPockets.
You can also send me a direct message on either Facebook, messenger or Instagram. I like to try to channel everything through BiggerPockets, as much as I can because I love that community. Thank you for being our first guest of 2021 Happy New Year to you.
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Jon started out working in consulting for Fortune 1000 companies and was slowly introduced to the concept of franchising. 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. He also goes through the different franchise business models and some franchise examples that you may have never thought of. Does franchising produce better ROI than other businesses (even real estate)? What are the opportunities in 2021 for franchising? I am J Scott, your cohost for the BiggerPockets Business Podcast, here once again this week with my lovely cohost and wife, Mrs.
And speaking of thank you, thank you to all of you amazing listeners who are out there doing good for others right now.
That is truly one of my very, very favorite things about this time of year. So many of us as entrepreneurs, as small business owners are so dedicated and committed to giving back even more than we get, and realizing this year has been really tricky on people. He is the CEO of a company called FranBridge Consulting, and Jon is amazing. Basically his job is to help franchisers, the companies that create these big franchises, and franchisees, the people like you and me that want to buy franchises, he helps put them together. And basically he serves as a consultant to help get us into the perfect franchise.
And on this episode, we discuss everything that we need to know about picking a franchise. And then we jump into the question we all want to know the answer to, how much money can we make if we buy a franchise? And from there, we talk about the other big thing that a lot of us want to know, can you operate franchise passively? I know a lot of us are really interested in to buying into businesses that we can operate passively and we can do as a side hustle. And so, Jon is brutally honest with us about whether franchises can be operated passively or not, how do we scale franchises?
If we want to start a franchise outside of our area, something 1,000 miles away, can we take over a franchise far from home? If you want to learn more about Jon, if you want to learn more about FranBridge Consulting and what Jon does, if you want to learn about anything we discuss in this episode, please check out our show notes at biggerpockets.
Carol:Jon, welcome to the BiggerPockets Business Podcast. We are so looking forward to chatting with you today. So many of our audience members are so very interested in franchising and learning more about that and opportunities for them. So thank you so much in advance maryland next day loans for sharing all of your expertise and knowledge with us.
Jon:Absolutely excited to be here, Carol, appreciate you guys having me. I love the show and look forward to our discussion.
That parlayed into some other corporate opportunities that really provided a great run, but like so many, I had that itch to get out of that Fortune 1,000 world. And for me, I wanted to go with a smaller private company, I looked at a lot of different opportunities, ended up with ShelfGenie, which is a large national, really international franchise system fast easy online loans based here in Atlanta, custom plot, shelving for kitchen and pantry. So I had the opportunity to come in as president, run all the day-to-day operations. And really during that experience, fell in love with franchising. I found that it was such a better path to business ownership for so many would be entrepreneurs out there, and those that had an interest in that cash till payday loans near me open today financial freedom and that day-to-day freedom. So since then, I partnered with the founder of ShelfGenie. We spun off as our own entity, brought in another partner. We ourselves are franchisees now, so went from being a franchise org to a franchisee. So I represent about 300 franchise brands out of the universe of 4,000 brands. Taking people through the education process, we have a very streamlined way of going about it, and eventually playing matchmaker, bring them opportunities that could be a good fit for them for consideration. So would you please talk to us a little bit more, why should we consider franchising versus starting a whole new business from scratch? The cons would be, you do have to live within the lines, and some people may be too entrepreneurial and want to do something totally outlandish with their brand, and that may not fit for franchising.
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However, in my opinion, the benefits far outweigh the cons. Within that is an intimidating 200-page document, 23 different items or chapters. Two that we pay a lot of attention to, one would be your item seven, and the second one would be your item 19.
All things in item 19 is how has every other franchise in system performing? And so they have put together this proven model that has been vetted, proven out, and they are cheering for you, guiding you for you, innovating with real estate loan for vacation property new products and new ideas along the way. So again, your interests get cash till payday are aligned, the better you perform and eventually exit your business, the more theirs will be worth. However, there are weekend payday loans direct lenders some guard rails in place and for good reason. So as long as you have that mindset going in, then your odds of success are significantly higher versus a traditional startup. J:And that makes a lot of sense to me, I know starting a business from scratch requires a whole bunch of different areas of expertise. And I assume that when you go direct lender payday loans for bad credit with a franchise, a lot of that is given to weekend payday loans direct lenders you, a lot of those systems are given to you.
Where I saw a franchise owners fall down when I was on the franchiser side, and again, these were few and far between by and large franchise owners were doing very well, but the ones that did struggle were the ones that maybe came from a middle management, corporate America role and they never had the responsibility for hiring and firing,, and making those tough calls, and not hanging on to someone for a little bit too long and putting up with excuses. They can provide the supply chain management and tell you how to get inventory, they can online check advance tell you how short term lender to turn inventory into product. They can tell you how to deal with sales and cash registers and all the accounting stuff. Jon, I would love to know even more about this whole concept you mentioned earlier, that often when we think of franchises, we just automatically default to fast food. And what I found is those that I work with and those that I speak to and interact with, very much are aligned with that thinking.
Your simple retail, some of the characteristics there would be, like the fast food concepts. Complex retail, and that second quadrant would be very similar in a lot of ways, a lot of similar attributes. I would say the differentiator there is maybe your labor force has a little more skill coming in or a license or some background. Oftentimes, these are van based or home-based businesses where you can run remote thinking about the property services market.
And home senior care, the silver tsunami is happening. Typically, these businesses are less expensive to get into than your brick and mortar retail businesses.
Can I still make decent margins and a decent profit if I want to run a business, a franchise passively? And so that is a misnomer that I think some people have out there, and so I always want to clarify that it takes work. It is a semi absentee opportunity, which does exist with a lot of businesses.