Entrepreneurs Kick Ass® | The Internicola Law Firm

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Learn from experts in the franchise industry about how to win and grow your franchise system.

Charles Internicola


    • Aug 7, 2023 LATEST EPISODE
    • infrequent NEW EPISODES
    • 30m AVG DURATION
    • 54 EPISODES


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    Latest episodes from Entrepreneurs Kick Ass® | The Internicola Law Firm

    #54: From Hospitality to Entrepreneurship: How Vanity Fur Founder Took a Life-Changing Leap of Faith

    Play Episode Listen Later Aug 7, 2023 21:34


    Charles N. Internicola talks with Founder and CEO of Vanity Fur, Jean Arellano - a mobile pet grooming franchise - about how she started from working in hospitality, to feeling like there was just something more, and creating her own mobile pet grooming franchise. A true story of entrepreneurship and resilience, Vanity Fur is now franchising across the United States to like-minded franchisee owners. For more information about Vanity Fur franchise opportunities, visit: https://www.vanityfurs.com/franchising/ @VanityFurFranchising  https://www.instagram.com/vanityfurs/ Subscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment. SUBSCRIBE to our Channel CONTACT US JOIN Franchise Growth Mastermind Community LIKE us on Facebook FOLLOW us on Instagram CLAIM your Free FranX Profile

    #53: Snapology Founder: From Franchising Your Business to Selling Your Franchise System

    Play Episode Listen Later Aug 4, 2023 48:19


    Charles N. Internicola, Esq. interviews Laura Coe, co-founder of the Snapology franchise system about how she franchised her business and, eventually, sold it to private equity... and so much more! #snapology #franchising #franchiseyourbusiness Subscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment. SUBSCRIBE to our Channel CONTACT US JOIN Franchise Growth Mastermind Community LIKE us on Facebook FOLLOW us on Instagram CLAIM your Free FranX Profile

    #52: Preservan Founder Ty McBride | Life, Franchising, and Entrepreneurship

    Play Episode Listen Later Jun 23, 2023 24:01


    Charles N. Internicola talks with Ty McBride, founder of Preservan  @woodrotrepair  about how he started his business that turned into a thriving franchise system and how like-minded entrepreneurs can build their future. #preservan #franchising #franchise Subscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment. SUBSCRIBE to our Channel CONTACT US JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #51: AI WARS! Legal Impact of AI on Franchisors and Entrepreneurs

    Play Episode Listen Later Jun 23, 2023 21:53


    Artificial Intelligence (AI) is a powerful combination of computing power, linguistics, science, and software that replicates and replaces human learning and intelligence. In this video, Charles N. Internicola takes a deep dive into AI systems like Chat GPT that will undeniably transform entrepreneurship, franchising, and business including how businesses are created, how businesses operate, competitive advantages, training, automation, and customer engagement. Join the conversation by posting your comments below! Subscribe to our Channel, Join our Community, and reach out to our team at (800) 974-4904, fill out our Contact Form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment. SUBSCRIBE to our Channel CONTACT US JOIN Franchise Growth Mastermind Community LIKE us on Facebook FOLLOW us on Instagram CLAIM your Free FranX Profile

    #50: Success Principles for Franchisors and Entrepreneurs with Bob Burg

    Play Episode Listen Later Jun 22, 2023 31:03


    In this video Charles N. Internicola talks with Bob Burg, author of "The Go-Giver" and connected his "Five Laws of Stratospheric Success" to the world of franchising and how both established and aspiring franchisors and entrepreneurs can effectively utilize these principles. Learn more about The-Go Giver by Bob Burg: https://thegogiver.com/ Subscribe to our Channel, Join our Community, and reach out to our team at (800) 974-4904, fill out our Contact Form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment. SUBSCRIBE to our Channel CONTACT US JOIN Franchise Growth Mastermind Community LIKE us on Facebook FOLLOW us on Instagram CLAIM your Free FranX Profile

    #49: Outsider Coffee Founders on Franchising, Entrepreneurship, and What it Means to be an Outsider

    Play Episode Listen Later Jun 9, 2023 31:40


    Founders, C.J. and Lindsay McPhail, of Outsider Coffee talk about their story of entrepreneurship, their mission, how they franchised their business, and more with Charles N. Internicola of The Internicola Law Firm. Learn more about Outsider Coffee: https://www.outsider.coffee and https://www.outsiderfranchise.coffee  Subscribe to our Channel, Join our Community, and reach out to our team at (800) 974-4904, fill out our Contact Form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment.  ⁠SUBSCRIBE to our Channel⁠ ⁠ CONTACT US⁠  ⁠JOIN Franchise Growth Mastermind Community⁠  ⁠LIKE us on Facebook⁠  ⁠FOLLOW us on Instagram⁠ ⁠ CLAIM your Free FranX Profile⁠

    #48 - Successful Multi-Unit Franchisee Talks About What it Takes to Create a Thriving Franchise System (with Rylan Miller)

    Play Episode Listen Later May 18, 2023 2:04


    Rylan Miller, Multi-Unit Franchisee of Tropical Smoothie Cafe gives insights from a franchisee's perspective secrets to growing your franchise system. Subscribe to our Channel, Join our Community, and reach out to our team at (800) 974-4904, fill out our Contact Form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #47: Is Buying a Franchise Less Risky than Opening an Independent Business?

    Play Episode Listen Later Mar 8, 2023 10:40


    In this episode, Charles N. Internicola explores the topic of buying a franchise versus owning an independent business. Many entrepreneurs face the decision of whether to start a business from scratch or invest in a franchise. While both options have their advantages and disadvantages, the question remains: is franchising less risky than owning an independent business? Throughout the video, we'll provide valuable insights and do a live Google search and pull data about both franchising and independent business ownership. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #46: Understanding the Unit Economics of a Franchise Investment

    Play Episode Listen Later Feb 6, 2023 29:10


    In this podcast, Charles Internicola discussed how to evaluate and understand the unit economics of a franchise investment. This podcast is for franchise buyers interested in finding and buying a franchise that is a good fit and for franchisors for building and telling a compelling economic story. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #45: Mastering the Franchise Discovery Process and Converting Franchise Leads

    Play Episode Listen Later Feb 6, 2023 49:53


    As a franchisor, there's nothing more important that onboarding qualified franchisees that are a good fit and are going to grow your brand. Having a drilled-down franchise sales discovery process is crucial... Too many brands and emerging franchisors are missing out on opportunity because they haven't developed the right franchise sales closing processes, presentations, and discovery days. Lisa Welko, CFE of @IntegrityFranchiseGroup takes us through the process franchisors can take - from initial calls and presentations to discovery days and closing deals. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #44: How to Franchise Your Business in Canada | with Frank Robinson, Esq.

    Play Episode Listen Later Feb 4, 2023 43:32


    For franchisors that have maximized their brand's U.S. market, international expansion can be a great way to continue scaling your business. With franchise-friendly laws and international agreements that make doing business relatively easy for American entrepreneurs, Canada can be a great place for franchising. Although Canadian franchise laws are similar to those in the U.S., there are important differences franchisors should consider before pushing into Canada. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #43: Franchising Your Business (Updated for 2023)

    Play Episode Listen Later Feb 2, 2023 12:45


    Thinking about franchising your business in 2023? Here's a recap of successful franchisors in 2022 and what to look out for in 2023. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #42: Warning Signs a Franchisee Might Not Be a Good Fit

    Play Episode Listen Later Dec 27, 2022 15:16


    What are some warning signs franchisors should be aware of before onboarding franchisees. #franchisedevelopment #franchisor #franchisee SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #41: Why Most Franchisors Fail (And Strategies to Win)

    Play Episode Listen Later Dec 8, 2022 22:38


    What makes many new franchisors fail? What are some strategies to avoid failure? Charles N. Internicola, Esq. talks with Lisa Welko of @integrityfranchisegroup1341 in this video. #franchise #franchisor #franchisedevelopment #franchising #franchiselawyer #franchisebroker SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    #40: Should You Offer Incentives to Sell Your First Franchises?

    Play Episode Listen Later Dec 7, 2022 12:40


    Franchisors trying to sell their first franchises feel desperate to make their first sales! Don't fall into the trap of offering too many incentives to sign on franchisees (reduce or waive franchise fee, delay royalties, etc.) Watch the video for more tips and warning signs. #franchise #franchisor #franchisedevelopment #franchising #franchiselawyer SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    Winning Strategies for Selling Your Franchise

    Play Episode Listen Later Sep 9, 2022 32:04


    Charles N. Internicola, Esq. and Brian Lincer, Esq. of The Internicola Law Firm talk about exit strategies, private equity, and how to prepare to sell your franchise. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    S3 E8: Are Your Sales Good Enough to Franchise Your Business?

    Play Episode Listen Later Sep 2, 2022 16:44


    Are your sales high enough to franchise your business? Will your franchisees be able to duplicate your financial performance? Charles N. Internicola goes into the popular topic if your sales are good enough before franchising. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    S3 E7: Leveraging AI, Bots, and Automation to Boost Franchise Sales - with Jayesh Kasim (Valenta)

    Play Episode Listen Later Aug 4, 2022 32:30


    Jayesh Kasim, co-founder of Valenta sits down with Charles Internicola to discuss the success of his AI, Automation, and Technology Bots and how franchisors can use it in their franchise sales process. SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    S3 E9 Leveraging Vendor Relationships and Franchise Community After You Franchise Your Business - with Liane Caruso

    Play Episode Listen Later Jun 29, 2022 26:10


    Charles N. Internicola talks to Liane Caruso from Entrepreneur Media about leveraging vendor relationships and the franchise community and more! If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals… READ MORE: https://www.franchiselawsolutions.com/learn/grow-your-franchise/leveraging-vendor-relationships-and-the-franchise-community-after-franchising-your-business SUBSCRIBE to our YouTube Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1 CONTACT US: https://www.franchiselawsolutions.com/ JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259 LIKE us on Facebook: https://www.facebook.com/entrepreneurskickass FOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/ CLAIM your Free FranX Profile: https://www.franxlaunch.com

    How to Build Trust with Franchise Brokers and Grow a Genuine Franchise System - with Jania Bailey

    Play Episode Listen Later Jun 27, 2022 31:31


    Charles N. Internicola, Esq. talks with Jania Bailey, President of FranNet about growing a genuine franchise system and how to build trust with franchise brokers. READ MORE: https://www.franchiselawsolutions.com/learn/grow-your-franchise/how-to-build-trust-with-franchise-brokers-and-grow-a-genuine-franchise-system

    What Brokers Look for When Evaluating Franchisor Financials (Item 19)

    Play Episode Listen Later Jun 10, 2022 33:40


    Charles N. Internicola talks to Lisa Welko of Integrity Franchise Group about what franchise brokers are looking for when evaluating a franchisor's Financial Performance Representations (Item 19 in the Franchise Disclosure Document). If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

    Don't Franchise Your Business Because a Franchise Developer Cold Called You!

    Play Episode Listen Later Jun 10, 2022 15:26


    Have you gotten a cold call or unsolicited email from a franchise developer telling you to franchise your business? Did they tell you they were going to "cover A-Z" and "take care of everything for you" including legal, accounting, operations manual, development, and marketing? Watch this video before you franchise. Watch the video and read more here.

    EB-5 and E2 Investment Visas and Franchising | What Franchisors Should Know - with Jaime Sanchez

    Play Episode Listen Later Jun 10, 2022 27:36


    Watch the interview and read more here.

    Selling Your First Franchise: How to Respond to Franchise Inquiries - with Lisa Welko

    Play Episode Listen Later Jun 10, 2022 44:56


    How do you sell your first franchise? Franchise lawyer, Charles N. Internicola and franchise broker, Lisa Welko of Integrity Franchise Group take a deep dive in the steps of how to nurture and convert your first franchisee candidates. Watch the video and read more here.

    Winning Strategies for Franchising Your Business | #4 Adopting the Right Franchise Growth Mindset

    Play Episode Listen Later Jun 10, 2022 10:57


    As a new franchisor, it can be tempting to focus all of your efforts on marketing and sales when you're just starting out – after all, those factors determine the future of your franchise. But is there more to consider when growing your business? Watch the video and read more here.

    Winning Strategies for Franchising Your Business | #3 Competitively Positioning Your FDD

    Play Episode Listen Later Jun 10, 2022 27:00


    When you franchise your business and become a franchisor, your FDD, in addition to forming the legal foundation, is also the blueprint of your franchise offering. There is critical data and information that you need to evaluate that is going to form the underpinnings of your franchise offering. In the end, your Franchise Disclosure Document (FDD) is what brokers and franchisee candidates evaluate including your competitive advantages and why someone today should buy your franchise over others. Watch the video and read more.

    Winning Strategies for Franchising Your Business | #2 Building Your FDD and Legal Foundation

    Play Episode Listen Later Jun 10, 2022 10:40


    Franchising is a highly regulated and legally driven business relationship. Your FDD and the Franchise Agreements that your new franchisees will be signing form the legal foundation for the entire franchise system you are building. Watch the video and read more here.

    Winning Strategies for Franchising Your Business | #1 Beginning With the End in Mind

    Play Episode Listen Later Jun 10, 2022 17:53


    If you're a business owner with a strong track record of success, there's a good chance you're considering growing and scaling your business through franchising. But as a new franchisor, how will you know if you're doing it right? What are the milestones and indicators you should be aware of to make sure you're on the right track? And most importantly, what are the best strategies for making the transition from a successful business owner to a thriving franchisor? Watch the video and read more here.

    What is the Franchise Operations Manual?

    Play Episode Listen Later Jun 10, 2022 12:37


    Are you franchising your business and want to learn more about developing an operations manual? If so, this video is for you! In this video, franchise lawyer Charles Internicola discusses the role of the Franchise Operations Manual in the franchising process. Providing an in-depth look at the topics every operations manual should include, Charles explains why it's critical for franchisors to develop a solid operations manual and ensure consistent success across their entire franchise system.

    providing operations manual franchise operations
    Advantages and Disadvantages of Franchising

    Play Episode Listen Later Jun 10, 2022 22:40


    There are many advantages and disadvantages to franchising. In this video, Charles N. Internicola goes through both disadvantages and advantages from the franchisor perspective as well as from the franchisee's perspective. Watch the video and read more here.

    Working with Franchise Brokers | What Franchisors Need to Know

    Play Episode Listen Later Jun 10, 2022 10:28


    Franchise brokers play an important role in the franchising process, and the right broker can offer franchisors solid advantages. Learn more about working with franchise brokers as a franchisor. Watch the video and read more here.

    How to Build a Compelling Franchise Brand Story and Franchise Sales Website

    Play Episode Listen Later Jun 10, 2022 14:37


    When prospective franchise buyers are evaluating franchises to own, one of the first things they're going to do is visit your franchise sales website. Charles Internicola goes into how to make a compelling franchise brand story and how to express it on your website. Take a deep dive into your: 1. Purpose 2. Opportunity 3. Transformation Check out our sample franchise sales wireframe and more here.

    How to Buy a Franchise: Steps to Finding the Right Fit

    Play Episode Listen Later Jun 10, 2022 21:08


    If you're looking to buy a franchise, Charles N. Internicola goes into what's involved, the process, and how to know if you're doing it right. Also included in this video is information about: Researching franchise opportunities What to look for in the Franchise Disclosure Document (FDD) Franchisee validation Discovery Day Management team, support, and culture How to legally protect yourself Building a winning business Watch the video and read more here.

    How Long Does it Take to Franchise Your Business?

    Play Episode Listen Later Jun 10, 2022 11:52


    It typically takes 90 - 120 days to franchise your business. But what are the steps involved? Charles N. Internicola goes through the legal, development, and accounting steps, timing involved, and what you need to know to win at franchising. Watch the video and read more here.

    How to Make Money as a Franchisor

    Play Episode Listen Later Jun 10, 2022 11:30


    There are three main revenue streams franchisors receive from their franchisees: Initial Franchise Fee Ongoing Royalty Fees Rebates Watch this video and read more here.

    Don't Hire a Franchise Consultant if you see these Warning Signs!

    Play Episode Listen Later Jun 10, 2022 17:27


    If you're franchising your business and you come across a franchise consultant that claims they're a "one stop shop", here are major warning signs to look out for before you consider hiring them. Charles N. Internicola even goes through two consultant's proposals and breaks down why you should take caution if you're considering hiring them to franchise your business. Watch the video and read more here.

    3 Reasons Why Your Franchise Lawyer May Be Costing You Deals

    Play Episode Listen Later Jun 10, 2022 11:19


    For some franchise brands the legal process can be frustrating. You spend tons of money, time, planning, and effort to attract, recruit, and on-board new franchisees and along the way come legal obstacles. These obstacles come in different forms and varieties and what they all share in common is that they cost deals, add unnecessary frustration, and, so much more often than not, are avoidable. They're also a sign that you're not getting the legal support that you need and deserve. Why does this happen? Well you may not be working with the right legal partner for your brand, and below, we list 3 reasons why your legal team may be costing you deals: 1:13 Your FDD Does Not Meet Best Practices 6:19 Your Registrations are Delayed and Your Sales Go Dark 8:46 Attorney Communication, Access, and Turnaround Takes too Long Watch the video and read the article here.

    When is the Right Time to Franchise Your Business?

    Play Episode Listen Later Jun 10, 2022 9:08


    Factors to consider if it's the right time to franchise your business includes: Your Track Record - How long has your business been open? - Do you have systems in place? - Do you have strong unit level economics? - Have you differentiated your business from your competition? Industry - Are you well capitalized? - Are you working with the right team? - Are your financial numbers superior or at least consistent with industry benchmarks? Founder Goals - Do you want to want to expand the reach of your business through franchising? - Do you want to transition from business operator to founder of a franchise organization? - Are you ready to focus on a 5 year strategy? Watch the video and read the article.

    What are Item 19 Financial Performance Representations? | Franchise Your Business

    Play Episode Listen Later Jun 10, 2022 6:21


    Everyone wants to know how much they can make when they buy a franchise. For franchisors who want to sell franchises, few things are more important than an Item 19 Financial Performance Representation in their FDD. What is an Item 19 Financial Performance Representation? It's any statement whether it's public, private, oral, or written about sales, income, or profits. This includes historical, actual, or projected financial data (including pro formas). So what happens when a franchisee candidate asks, "How much can I make", "What are your sales", or "What are your profits"? THE RULE As a franchisor, you CANNOT provide financial performance representations UNLESS it's disclosed in your FDD Item 19 and it has to be representative of the franchised business. Watch the video and read more here.

    What Stage You Need to be at to Franchise your Business

    Play Episode Listen Later Jun 10, 2022 7:51


    Your business is growing, cash flow is good, and you know there's opportunity for expansion. You may be thinking about franchising your business. You want to know if you're ready and what stage does your business need to be at to franchise? To be franchise ready you need to have the right numbers, founder mindset, and a scalable business. In this video we discuss each of these factors: The Numbers - The most common questions that franchisee candidates and franchise brokers ask is "how much do you make and how much can I make?" In the franchise world, this is called "Financial Performance Representations" and in order to speak about cash flow, it must be properly disclosed in your FDD. So, if you're profitable after accounting for lower sales and increased expenses that your franchisees will experience (including fees that will be paid to you as franchisor) your franchisees will be profitable and, potentially generate a good ROI on the investment they make in establishing a new franchised location. Founder / Team Mindset - The same passion that you put into developing and growing your business is the same passion that you need to put into franchising. Can you envision yourself learning franchising, building a franchise organization, attending franchise development conferences, and building, over time, a franchise organization? Scalability - Your business needs to be scalable. The systems, processes, and supply chain that you've built need to be capable of supporting franchisees and providing them with that extra edge that they'll need to succeed. This all doesn't need to be in place on day 1 but it needs to be there and, over time, needs to become a part of a system that you continuously improve for your franchisees. Watch the video and read more here.

    What is Franchising and What Does it Mean to Franchise Your Business?

    Play Episode Listen Later Jun 10, 2022 5:28


    Franchising is a legal and business relationship where you take what has worked for your business (your brand, your systems, your know-how, your products and services) and legally authorize other individuals--your franchisees-- to open new locations using your brand name and requirements that you set. The characteristics that create a franchise includes an agreement that involves: The license of a trademark. The payment of a fee Control over what can and cannot be done in the business. Watch the video and read more here.

    Franchise Consultants vs. Franchise Lawyers | Who Do I Need to Franchise My Business?

    Play Episode Listen Later Jun 10, 2022 10:01


    The difference between a franchise lawyer and a franchise consultant is that a franchise lawyer prepares the legal documents needed to franchise a business and sell franchises while a franchise consultant assists in operational tasks like planning a franchise sale strategy, budgeting, and operations manual development. Franchise consultants are not franchise lawyers and franchise consultants are not qualified to prepare legal documents like the franchise disclosure document (FDD) and franchise agreement. Franchise consultants are sometimes also referred to as franchise developers. Watch full video and read article here.

    Coronavirus and Franchising: Tactics to Implement Part 2

    Play Episode Listen Later Mar 22, 2020 69:36


    Charles N. Internicola and Nick Powills take a deep dive and talk about tactical steps franchisors can take in the short term and intermediate during the COVID-19 pandemic.

    Coronavirus and Franchising: Q&A with Franchisors

    Play Episode Listen Later Mar 19, 2020 61:14


    Charles N. Internicola and Nick Powills interview Justin Waltz from Big Blue Swim School and Philip Schram from Buffalo Wings and Rings to get their insights on how to overcome the COVID-19 pandemic.

    Coronavirus and Franchising: Framework for Recovery #1

    Play Episode Listen Later Mar 17, 2020 67:47


    Charles N. Internicola and Nick Powills talk about the framework for short term, intermediate, and long term recovery and growth for franchisors during the COVID-19 pandemic.

    How to Franchise a Business | Franchising Done Right with Steve Beagelman

    Play Episode Listen Later Jan 21, 2020 51:56


    Learn the basics of franchising your business, what the role of a franchise consultant is, and what mistakes to avoid when franchising a business.

    Insights from The Franchise King® for Franchisors Who Want to Up Their Game with Joel Libava

    Play Episode Listen Later Dec 20, 2019 57:46


    Charles N. Internicola interviews Joel Libava, The Franchise King®, about how franchisors can up their game, the journey of franchisees, qualities that good franchisors all share, and how to evaluate if a franchisee is the right fit for your franchise system.

    game franchisors franchise king
    How to Work with Franchise Brokers to Sell Franchises with Lisa Welko

    Play Episode Listen Later Dec 20, 2019 64:28


    Charles N. Internicola interviews Lisa Welko, founder of Integrity Franchise Group, about how emerging franchisors can start engaging with franchise brokers and consultants to sell your franchise.

    Leveraging PR & Digital Media to Jumpstart Franchise Sales with Nick Powills

    Play Episode Listen Later Dec 20, 2019 71:54


    Charles N. Internicola interviews Nick Powills, founder of No Limit Agency and 1851 Franchise, about how franchisors can use Public Relations to grow their franchise system.

    Unlocking the DNA of a Successful Franchise with Angela Cote

    Play Episode Listen Later Dec 20, 2019 70:42


    Charles N. Internicola interviews Angela Cote, Franchise Growth Catalyst, about what it takes to be a successful franchisor.

    Mastering the Franchise Operations Manual with Kit Vinson

    Play Episode Listen Later Dec 20, 2019 67:49


    Charles N. Internicola interviews Kit Vinson, founder of FranMan, and talks about how franchisors can create their custom Operations Manual, steps to take, and mistakes to avoid. This podcast is perfect for startup, emerging, and established franchisors.

    mastering vinson operations manual franchise operations

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