In this episode, we review the 2022 Franchise Business Update, discuss common franchise myths, and evaluate if a franchise is right for you. Additionally, we’ll share the highlights from Henry’s current franchise business search, the latest hot trends in franchising, and several free resources for you!
Giuseppe Grammatico is a Franchise Coach, Consultant, Speaker, Author, and trusted partner of The How of Business.
He is the author of “Franchise Freedom – A New Manifesto for Your Financial and Time Freedom”, and the host of The Franchise Freedom Podcast.
Giuseppe was previously my guest on episode 365. On that episode of The How of Business podcast, he shared his journey to business ownership and his insights and experiences with franchises.
2022 Small Business Franchise Update with Giuseppe Grammatico – Topics and questions about franchise business we address in this episode include:
- Common Franchise Myths:
- Only Fast Food and Retail.
- Franchises are expensive and require a large investment.
- I need industry experience or prior business experience.
- I don’t have to conduct my own research and financial projections.
- A Franchise is guaranteed to be successful.
- Is a franchise for me?
- The Entrepreneur spectrum. You should be honest in assessing where you fall on this spectrum, and whether will you be comfortable with having to adhere to the rules of the franchise.
- What are franchisors looking for from potential franchisees?
- Can I get funding for my franchise business?
- Full-time versus semi-absentee owner?
- The 4-Step Franchise Freedom Process (Giuseppe provides consultation to help his clients progress through four critical steps to help them select the right franchise business):
- Schedule a Right-Fit call where we can get to know each other and decide if we’re a fit for each other.
- Identify YOUR personal goals & the characteristics you are looking for in a business.
- Get matched with 2-3 franchise companies (out of the 4000+ franchises in the U.S.) that fit your goals and the type of business you want to own.
- Navigate the franchise investment process (if you decide franchising’s a fit).
- Henry’s Franchise Evaluation Experience:
- Entrepreneur spectrum. Why a franchise?
- Market research.
- Financial Projections.
- Speaking with other franchisees. The value of the Network!
- Hot Trends
- What industries or segments do you think are poised for growth in franchising over the next couple of years?
- A new business segments or ideas that have emerged recently?
- Any other trends in franchising?
- It’s all about educating yourself before you make the investment in a franchise business…
- Free Consultation with Giuseppe.
- Free Consultation with Henry.
- Free Download: Top 4 Franchise Benefits:
- Other episodes on Franchises
- Workshop Recording
Episode Host: Henry Lopez is a serial entrepreneur, small business coach, and the host of this episode of The How of Business podcast show – dedicated to helping you start, run and grow your small business.
More About Giuseppe Grammatico:
Giuseppe is a franchise veteran, including having owned a franchise business, who simplifies the process of franchise businesses and focuses on guiding his clients to the franchise business model that best suits them. His greatest joy is helping people realize the American dream and sharing the freedom that comes from franchise businesses. Franchising has allowed Giuseppe to enjoy the freedom so many hope for. Giuseppe lives in New York City.