One of our favorite Franchise Risers is back on the show! Angela Coté returns tto bust a common franchising myth - that franchises are turnkey businesses.
Listen to get truth and to discover why franchises aren’t a “set it and forget it” type of business.
What We Cover* Welcoming Angela Coté and discussing her new role
* Why franchising is NOT turnkey
* Myth #1: You open your franchise and customers just come
* The importance of hard work and grit
* The role of marketing when opening a new franchise
* Myth #2: You won’t spend more than the franchise fee
* Ample working capital is essential
* Myth #3: Once the franchise gets going, it becomes turnkey
* Why you’ve got to stay involved as an owner
* The other side: What franchisors need to know
Resources We Mention Get Inspired by Angela* “You can go along and do the trial and error thing and make expensive mistakes, or you can hire an advisor - somebody that's been in your shoes that can guide you to make the decisions to help move you forward instead.”
* “I get that comparing when it to starting a business from scratch it seems turnkey, but there's just so much more to it.”
* “I'm trying to bust the myth about franchising being turnkey because I think it comes down to having like very realistic expectations from the start about what it takes to be successful.”
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