Josh Brown discusses business ownership and offers tried & true methods that help both business and franchise owners scale and grow.
Bill: So, where do people tend to go wrong when they get into franchising?
Josh: I think people fall in love with brands, but they don't understand the underlying business model. And, if you're going to buy a franchise, and be a good operator, you have to understand the underlying business model. I think people don't take as much time and consideration into factoring in their territories, because, as much as you are buying a system, and you're buying a brand, and you're buying the expertise of somebody else who has come before you, your location, your backyard, your geographic location is so important for your business because we were talking about how small business who are not franchised compete against franchises, well franchises are competing against them, as well.
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