Become a Franchisee at a Huge Discount with Lucas Root
You know that somewhat sad Subway you pass by every day on your way to work? Well, that little gem could be yours at a lot less than you might think. Listen to Lucas Root describe how an aspiring entrepreneur could short-circuit the business ownership process by purchasing a Quick Service Restaurant at a steep discount.
Nuggets:
- Like the real estate market, there are franchise brokers to facilitate deals. But you can also do the legwork by approaching franchise owners yourself. In the midst of pandemic, many of them are likely onsite.
- A typical franchise cost is nominal (somewhere between $20,000 and $50,000). But many franchises, like McDonalds, will not sell to you unless you have a minimum of five years operating costs.
Action Steps:
- Research rent costs for commercial spaces with the best walkability in your area.
- Walk into a prospective franchise location and ask the owner about his or her experience within the franchise.
Follow through on these action steps and email us your results at update@runwithit.fm. You'll get exclusive access to a private Facebook group of action takers and one listener will earn a free mentorship call with our guest, and potentially, a business partnership.
Links:
Lucas Root is the founder of SGIC Consulting which helps clients build and implement a high-performance strategy to achieve the maximum growth potential possible.
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Run With It by Chris Justin and Eathan Janney is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.