There is some historical evidence that shows when we are dealing with a macro event that impacts the workforce in the U.S., the world of franchising gains some momentum. After months of forced closures and record-high unemployment, the U.S. is ready for an economic recovery. Opportunities in franchising might just be part of the solution. There are two ways to do anything in this life: reinvent the wheel and do it your way, or plug into a system that is already working. We are joined by my friend, Frank Baeli, who is not only a franchise consultant, he has been a franchisee himself. In addition, he has worked directly for franchisor, giving him great perspective from both sides of the table.
Tune in for this pragmatic conversation at TalkRadio.nyc or watch the Facebook Livestream by clicking here.
Steven introduces himself and the show, then he explains small and medium businesses. He teases the audience about what the show executes and how he runs things. Steven starts by introducing the topic, he talks about how there are changing opportunities for franchising in the Market specifically in the US, as Covid has changed a lot and redefined priorities. Steven then introduces Frank Baeli; Frank is an independent consultant who specializes in franchising businesses, but he is not limited to working with franchisors or franchises. Frank has a vast history of working in the franchising industry, he has worked with companies of all genres - from brick and mortar stores to media and entertainment, from fitness studio chains to fast food chains. Frank's unique experience helps new franchise owners navigate through a very structural and heavy journey. Steven continues to talk about his experience about franchising, and how his family owns one in the 90’s. Steven pushes that franchising is extremely popular right now, and that it is very important to get all the information as this industry is about to boom.
Steve kicks things off by introducing the book he spoke about earlier - Grow Smart, Risk Less - and ties it into how it makes sense for someone looking to go into the franchising world. Frank joins in with Steven as the two get into playful banter and talk about Frank’s website. Frank begins by talking about what he does - Frank begins by talking about how works at both ends, with the franchisors who have newly decided that franchising their businesses is a great concept, and the businesses that have already dipped into the franchising pool. He provides tools, concepts and structure to businesses who are looking to franchise or even grow their already franchised businesses. Frank continues on how he has been in this business for some time and he knows all the mistakes that get made - and they're expensive - this means he knows how to cut costs and franchise flawlessly. Steve talks about how franchising can be intimidating, and it is entrepreneurial to be a franchisor, however it is not the same thing as being an entrepreneur.
Steven begins by talking about Frank's experience - Frank talks about a company he engaged with right after they sold their first franchise. The company based in New Jersey known as the Juice House, they did not know what to do after signing the official document and Frank helped get the structure they needed to function and now that new franchise is opening up around May. Frank told another story about a donut store - Donut Envy - that wanted to grow, this couple in Florida was making royalties out working out of a cart at a mall. They already had a few franchise units in different places around the country - after Frank worked with them and now they have opened two franchising units last month in Florida last month. According to Frank there is more access now to capital to open a franchise, covid has opened many doors and franchising is one of them. According to Frank, the time to open a franchise is now because the boom is coming.
The two get right into the message of the show, what should listeners try to takeaway? According to Frank, the first is a small business operator who has been able to handle covid with little to no friction should look into franchising and people who have dipped their toes into the franchising pool and aren't as motivated should not lose steam as this year is big for the industry - Frank describes franchising as a gift as it is starting your own business but with the power of having more opportunities and resources available to make that business successful. Steve diverts the conversation to talk about the weekly favorite movie and
