#1135 - Q&A: Should I buy an existing franchise?
Side Hustle School
Chris Guillebeau
4.7 • 3.3K Ratings
🗓️ 9 February 2020
⏱️ 6 minutes
🧾️ Download transcript
Summary
This listener is looking to start something that’s proven and established. With a Subway sandwich shop on every corner, might it be good to consider buying an existing franchise?
Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
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Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
Show notes: SideHustleSchool.com
Email: team@sidehustleschool.com
Be on the show: SideHustleSchool.com/questions
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Transcript
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| 0:00.0 | Here is a story that I don't believe I've ever told before. |
| 0:07.0 | I'm pretty sure I've never told it on the podcast and maybe nowhere else either. |
| 0:11.2 | When I was 17, one of my entrepreneurial dreams was to open a mailboxes, et cetera, |
| 0:16.2 | a franchise. |
| 0:17.2 | You haven't heard of mailboxes, et cetera. |
| 0:19.0 | I think these days they're called the UPS store. |
| 0:20.8 | There's a few other variations of these places where you can get a private post office |
| 0:24.3 | box, you know, mail stuff out, et cetera. |
| 0:28.0 | For whatever reason, I was enamored with mailboxes, et cetera. |
| 0:31.2 | I wanted to get some information on how it actually works, like what's the behind the scenes. |
| 0:35.6 | At the time, I was using America Online, shout out to AOL, you know, and I surveyed the |
| 0:40.4 | owners. |
| 0:41.8 | I found this online list of mailboxes, et cetera, franchise owners. |
| 0:46.6 | I wrote to all of them. |
| 0:47.8 | I surveyed these owners and I asked them all kinds of cheeky questions like how much money |
| 0:52.6 | did they make from their franchise? |
| 0:54.8 | Which is really funny, right? |
| 0:56.0 | Because, you know, 17, that's more than 20 years ago. |
| 0:59.0 | Gosh, it's almost 25. |
| 1:00.5 | That's crazy. |
| 1:01.5 | You know, but funny how things come full circle because here we are 20 to 25 years later. |
| 1:06.3 | And I'm out there talking with, you know, small business owners and I always ask them really |
... |
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