Jon Ostenson is a top 1% Franchise Broker, Consultant, Investor, and Author of the book ‘Non-Food Franchising’. He draws on his experience as a former Inc. 500 Franchise President and Multi-Brand Franchisee in serving his clients. He is a frequent contributor on Franchising for Forbes, Inc., Bloomberg and The Franchise Journal.
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Guest Resources
Franbridge Consulting – Check out Jon’s Company Website.
Non-Food Franchising: The Better Path to Business Ownership – Buy Jon’s book on Amazon.
3 Value Bombs
1) Building towards many smaller healthy exits generates on going cash flow and creates potential exits to cross.
2) Franchising is not right for everyone but most people love support and need people on the sideline to go and execute for them.
3) Its important to have an expert guide to filter the right information you need.
Sponsors
HubSpot: Stop spending more time managing tools than connecting with prospects and customers. HubSpot’s customer platform is a smoother, more effective way to grow! Visit HubSpot.com to learn more!
Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
Ethos: Get term life insurance through Ethos today to help protect your family’s finances. Get up to $2 million in coverage in just 10 minutes at EthosLife.com/fire. Thanks to Ethos for sponsoring us!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: Franchising – The Better Path to Business Ownership
[1:25] – Jon shares something that he believes about becoming successful that most people disagree with.
- Most people believe to be successful in business they have to work towards building big companies for a big exit but his strategy is building towards many smaller healthy exits because it generates on going cash flow and creates potential exits to cross.
[2:35] – Jon tells about the tremendous growth for Franbridge on making the Inc. 5000 list.
- Its a testimony to the number of individuals he introduced to business ownership who made impact in their families and community which creating jobs and made him love his work.
[3:33] – Jon goes deep on the why behind franchising and why it makes so much sense for many and on what he see in the entrepreneurship landscape.
- Entrepreneurship is alive and well across North America and building a business is at all time high. Many real estate investor s move into franchising because of high interest rates, low inventory and they love the fact that owning a business through franchising provides other advantages and in demand opportunities across a variety of fields
- Clients realize the inherent risks in buying a business (change of ownership, change of culture, loss of key employees and customers)so to avoid those risks, they bring a proven franchise into the market.
[6:23] – Jon shares why franchises often a stronger option than startups.
- Franchising is not right for everyone but he believes that most people love support and to have people on the sideline to go execute for them.
- He listed his top 10 reasons why franchises are often a stronger option than startups.
[10:25] – A timeout to thank our sponsors!
- HubSpot: Stop spending more time managing tools than connecting with prospects and customers. HubSpot’s customer platform is a smoother, more effective way to grow! Visit HubSpot.com to learn more!
- Ethos: Get term life insurance through Ethos today to help protect your family’s finances. Get up to $2 million in coverage in just 10 minutes at EthosLife.com/fire. Thanks to Ethos for sponsoring us!
- Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
[13:43] – Jon shares some of his favorite client stories.
[15:32] – Jon tells why he focus only in non food franchises.
- Non food franchises don’t require the same level of capital investment compared to food franchises
- Other factors like manpower, operating hours, more regulations, change in customers sentiments and trends have to be considered.
- Transferring of skills by bringing a white collar approach to a blue collar industry.
[17:51] – Jon shares what is the investment range and how to fund the processes.
- Looking at the franchise speed plus startup cost and a couple of months of working capital, a minimum of $150,000 to $200,000 up to a 7 figure is needed for a business ownership.
- It can be funded by applying bank loans.
[19:43] – Jon tells how to find the right franchise opportunity now.
- Its important to have an expert guide though it is very challenging because of so many information that needs to be filtered.
- His company can help by streamlining the right information with no cost.
[22:17] – Call to action.
- Franbridge Consulting – Check out Jon’s Company Website.
- Non-Food Franchising: The Better Path to Business Ownership – Buy Jon’s book on Amazon.
[23:15] – Thank you to our Sponsors!
- HubSpot: Stop spending more time managing tools than connecting with prospects and customers. HubSpot’s customer platform is a smoother, more effective way to grow! Visit HubSpot.com to learn more!
- Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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