How to Franchise Your Small Business with Dr. Tom DuFore
Entrepreneurs on Fire
John Lee Dumas
4.8 • 4.1K Ratings
🗓️ 29 May 2023
⏱️ 25 minutes
🧾️ Download transcript
Summary
Dr. Tom DuFore is a franchise expert and CEO of Big Sky Franchise Team, an award-winning consulting firm helping entrepreneurs franchise their businesses. He has consulted with or advised more than 700 franchisors over the last 20 years. He also hosts the Multiply Your Success podcast.
Top 3 Value Bombs:
1. Franchising lets you have economies of scale as you grow. You're able to get discounts with current vendors, suppliers and start providing your franchisees with better supplier pricing than they would otherwise have independently.
2. Make sure that you're working with someone that can help guide you through the process. It helps shorten the learning curve and gets you set up and running faster and avoiding a lot of these common mistakes that come along the way.
3. Franchising becomes that confidence elixir for a perspective or budding entrepreneur that maybe is a little too scared to start the business on their own or they would prefer to join with a network or a system that has proven model that they can learn, take and execute.
Afraid to Start Your Franchise? Overcome Your Fear with Knowledge. Get a copy of Dr. Tom's book! - 9 Pitfalls
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Boom! |
| 0:02.6 | Shake the room Fire Nation! |
| 0:04.4 | JLD here and welcome to Entrepreneurs on Fire! |
| 0:07.0 | Brought to you by the HubSpot Podcast Network with great shows like Marketing against the |
| 0:11.2 | Green. |
| 0:12.2 | Today we'll be breaking down how to franchise your small business. |
| 0:15.9 | To draw these value bombs, I have brought Dr. Tom, due for in the EO Fire Studios. |
| 0:20.2 | Tom is a franchise expert and CEO of Big Sky franchise team and award winning consulting |
| 0:25.1 | firm helping entrepreneurs franchise their businesses. |
| 0:28.1 | He has consulted with or advised more than 700 franchise ores over the past 20 years. |
| 0:33.1 | He also hosts the Multiply Your Success Podcast. |
| 0:36.4 | In today's Fire Nation, we'll talk about what exactly makes a business franchiseable. |
| 0:40.2 | We'll talk about if you should franchise your business and why you would. |
| 0:44.4 | The difference between franchising and licensing, the nine pitfalls to avoid when franchising |
| 0:49.0 | your business, and so much more. |
| 0:51.1 | And a big thank you for sponsoring today's episode goes to Dr. Tom and ours. |
| 0:55.9 | Sponsors! |
| 0:57.4 | This Made Simple, hosted by Donald Miller, is brought to you by the HubSpot Podcast Network, |
| 1:01.4 | the audio destination for business professionals. |
| 1:04.0 | Business Made Simple takes the mystery out of growing your business with episodes like |
| 1:07.6 | how to get out of your day-to-day operations without crashing your business. |
| 1:11.3 | Listen to Business Made Simple wherever you get your podcasts. |
... |
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