Aug 16, 2018
Joe White is a seasoned franchise professional who years ago identified a personal passion for helping people find the right business to fuel their dreams and goals. He is a 30 year veteran of senior positions within the franchising and oil industries and has seen most of what business can offer. This includes 9 years working as a franchise consultant and serving as Vice President of Sales and building the world’s largest internet franchise. Joe is a stake holder in a franchise company and is an active board member.
One of the unique characteristics that Joe brings to the franchise investigation process is that he is a Certified Master Business Coach. This enables him to thoughtfully work through the hard decisions that confront anyone acquiring a business. Joe has lectured at Universities and Colleges in the Business Departments of Entrepreneurialism within these institutions and has been a guest speaker at numerous franchise events. In his spare time he enjoys time with his family and assisting young entrepreneurs. He is a published author and a contributing writer to a financial publication.
In today’s conversation, we explore the various business models and franchise categories available, including advantages and characteristics of each. Joe also walks us through the process he uses to assist people in making the right choice about their business future, and emphasizes how important it is to ensure a right fit for both the individual and the franchisor.
For Joe, it is all about the people – the right people doing the right thing. He brings a passion and enthusiasm to what he does and an unmatched commitment to his candidate’s success. Joe believes the journey to ownership should be fun, introspective and a little bit scary. He knows that buying a business is a once in a lifetime event for many and making the right choice is critical and a life altering event.
Key Takeaways
- There are over 80 franchise categories – we discuss the 5 key categories and breakdown of each – retail, food, business to business, business home services, and automotive.
- If you’re going to play in the quick-serve food franchise category, play with the big ones or you’ll probably get run over.
- You want to look for a franchise that is (1) durable, (2) sustainable and (3) transferable.
- In evaluating new franchise systems, look at the management team – are they experienced franchisors? What have they been doing that will lead to success in building this system? How well funded is the business?
- A good franchisor will be asking you a lot of questions, to ensure you are a right fit for their model.
While innovation is important, the best answer you can get from a franchisor when asking if you can make changes to their system, is NO. That implies that they have a proven system in place and do not want franchisees tampering with it.
Episode Show Notes: https://leadersoftransformation.com/podcast/business/204-joe-white-finding-the-right-franchise
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