Dec 6, 2021
The Franchise Model – Acquiring a Proven Business Model vs Building a Startup w/ Jon Ostenson
- BRT S02 EP49 (96) 12-5-2021
5 Things We Learned This Week:
Guest: Jon Ostenson, w/ Franbridge Consulting
Jon Ostensen discusses the Franchise industry on multiple levels; from being a broker, to purchasing a franchise, to investing and also the operation side of running your own. He gives numerous examples of opportunities in franchising - How much does it cost, the buy in process, and realizing franchises are more than just food opps.
Jon is a consultant,
owner/investor, author (The Franchise Path), and international
speaker specializing in the area of non-food franchising. He draws
on his experience as both the president of an Inc. 500 franchise
system and as a multi-brand franchisee in serving his consulting
clients that are looking to explore business ownership
He serves as CEO of FranBridge Consulting where he helps clients in the process of introducing them to opportunities from the over 300 high growth brands that he represents. Additionally, Jon oversees FranBridge Capital where he and his partners own 18 territories across 5 property service franchises. Prior to FranBridge, Jon was the President of ShelfGenie, a national franchise system with 200 locations.
Franchises provide a revenue stream and future exit strategy, as a business owner builds an asset that can sell at a better multiple
Startup vs. acquiring an established business - startups have a high failure rate, and the established business has a track record, marketing model & team with plan and providers
Item 19 – Franchise Disclosure -reviews all relevant info about each opportunity and possible earnings
New franchisee must learn their Customer acquisition cost and have a strategy to work with people, keep talent and then build a community.
Franchises provide Social media and franchise groups to support groups.
John’s Tips for Picking an Opp:
People love their health, pets, home, car, and their kids
House Services – Jon likes Niche Service and Covid and Amazon resistant.
You do not need experience in a niche industry. The Franchise has a Playbook, you can follow.
Look for Businesses that are not sexy, but cash flow regularly, aka a boring business that just makes money.
Property Services , driveway repair business
Floor paving - business and garage
Pool cleaning, Home, Carpet, Plumbing, Insulation
Live and Be local, as in near your franchise territory
Flashback Clip from Jon’s 1st appearance in 11/2020
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