Are you feeling uncertain about franchising your pet business? Wondering if the promised rewards are truly worth the risks and responsibilities?
Imagine – seriously think about this – you’re at the brink of expanding your business, but looming questions about franchising are holding you back.
In this week’s episode of the Bella In Your Business podcast, we’re going where most wouldn’t dare – straight into the heart of the franchise debate.
We’re diving headfirst into the world of franchising with a special guest – Liz Ilig. With nine grooming shops and years of hard-earned entrepreneurial wisdom, Liz has been through the trenches. The big brands have courted her, trying to lure her into franchising her business. Yet… she remains unfazed, standing by her decision NOT to go that route. Why? Because success in franchising isn’t as clear-cut as it seems.
Learn why brand recognition doesn’t always translate across state lines and how the responsibility of someone else's success can be more overwhelming than anticipated. Think...could giving away your ‘secret sauce’ actually dilute your brand’s integrity and success?
If you’re contemplating diving into the dog franchise world or considering other avenues for scaling, this episode is your manual. Tune in to hear why going bigger doesn’t always mean better and how keeping control could be your secret to sustained success.
Ready to make the right move?
Timestamps:
[04:35] Franchise opportunities for successful business expansion.
[09:20] Factors impacting success beyond sharing business model.
[11:46] Franchising involves responsibility, mentoring, and financial commitment.
[14:57] Entrepreneur values independence and controls brand recognition.
[18:17] Understand and standardize to grow your business.
[23:26] Consider building business with future sale in mind.
[24:39] Consider margins, investment, and legacy in business.
Notable Quotes:
"A lot of my success in the business has been because of the people that I’ve hired, plus me being able to activate decisions right away, changing. And here’s the thing—I have to be accountable for myself."
"You can build a successful business without signing on to somebody else’s success."
"In the simplicity of it, a franchise model is, 'Hey, do A plus B and you will get C,' but there is so much interpretation and ways to mess up or severely hurt that investment."
"Our margins as business owners are already tight on a monthly basis. Think about how much you could use that money for advertising or a coach to build your empire instead of giving it back as franchise fees."
"No matter how you build your business, do it as if you’re selling it one day to an investor, someone that can walk in and pick up exactly where you left off."
Resources:
Instagram: Legendary Ideas Group
Email: liz@ilig.com
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Transcript:
Welcome to another episode of Bella in Your Business. My name is Bella Vasta, and today, in our 399th episode, I've actually got a brand new topic for you. Yes, that's right, a brand new topic. I've been heavily involved with the franchises of our industry lately, the past couple of months, and, you know, it's really sparked a question for me. And that is about a couple of years ago. I know a lot of you were approached by two major companies, national companies, trying to convince you to franchise your business. They promised you could make so much money, and it would be easy. They knew nothing about your business, your profits, but they wanted to charge you to do it. Now, some of you did it and had horrible experiences. Some of you did it and didn't really sell many of them but still paid them. Today, I wanted to bring on my good friend who's been on the podcast before, Liz Ilig. She has been instrumental in so many things in the pet indu...
