September 20, 2025 • 19 mins
A franchise business advisor's complete guide to preparing for job loss. In this full episode, learn how to assess your options, plan financially, start a business while employed, and take control of your future.
DISCLAIMER: The information on this podcast is for general information purposes only. Franchising involves risk and careful consideration should be given before making any decisions.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Giuseppe Grammatico (00:00):
So, you know, really comparing a job
(00:02):
versus a business, it's, it'snight and day.
I will say that a lot of peoplemaybe should own a business.
I always tell people with, witha business, you gotta have some
thick skin.
There's gonna be ups and downs,and that why, that reason you're
doing it is really gonna get youthrough those.
you're not gonna knoweverything.
Part of it is saying, okay,everything is kind of lining up.
I'm gonna take that leap offaith, which is the final stage,
(00:24):
and I'm gonna do everything inmy power.
To make this work.
That's the approach I used.
Welcome to the Franchise FreedomPodcast, where you can escape
the corporate trap throughfranchise ownership.
Here's your host, Giuseppe gr,the franchise guide.
(00:45):
Welcome to the Franchise Freedom Podcast.
I'm your host, Zepi Grammatic,your franchise guide, and we are
continuing the conversation withpart two, uh, of our series of
how to prepare for job loss.
So in part one, uh, we talkedabout, uh, when to prepare, and
that's immediately and some ofthe steps you should be doing
now, kind of that self,self-audit, figuring out the
(01:06):
things you're good at and and,and maybe weaknesses and the
things you enjoy doing.
Uh, followed by letting thefamily know, getting your
finances together and updated.
Uh, followed by, you know,getting your, your LinkedIn
account at bare minimum, one ofyour social platforms.
Getting that updated and, um,ready to go.
In the event, you know, you needto kind of reach out to other
(01:28):
companies or individuals, uh,should you be looking for
another job.
So in part two we're gonna focuson kind of the next steps of
figuring out what is.
The next steps, becausesometimes this is a, a pivotal
point, right?
We're we're figuring out, youknow, this is kind of a career
transition, a career pivot as Icall it, as to kind of what's
next.
(01:48):
And the beauty here is that youreally open it up to saying,
okay, well I worked on WallStreet, I worked in finance and
investments my entire career,but, uh, in the event of, uh,
that I lose a job, you know,what are.
Gonna be the next steps?
What are my options?
So we now have a better pipicture, right?
So going back to part one, wehave a LinkedIn presence, so if
(02:10):
people were to contact us, makesit a lot easier.
And uh, it's a great way toreach out to other professionals
as opposed to email.
And if you do have some thoughtsor wanna put some ideas out
there, it's great for feedback.
And via those LinkedIn and, andsocial posts, we have a better
understanding of our financials,so we know what that buffer is.
Right now we know, okay, I havecertain savings aside, we know
(02:32):
what our expenses are, networth, liquidity, you know,
liabilities, assets.
We do all that and kind offigure out, okay, in the event.
I were to start a business, whatcapital to have access to.
And that's taking intoconsideration equity in the
home.
It's taken into considerationretirement accounts.
Not that they all qualify, butif you were to lose your job
(02:53):
with your employer, o odds are,uh, you'd be able to qualify
from a previous employer,traditional IRA.
So in those next steps, we'relooking at things like, okay,
you know, keeping it opencreating a.
Kind of another Google doc.
So next to that self analysisand self audit what does a job
look like?
Do I want to be in the samerole, same industry, or do I
(03:16):
wanna branch out?
Do I have a transferableskillset?
Just say that sales andnetworking and financial service
in the investment industry.
Um, well that applies to justabout any industry.
So do I wanna switch into acompletely different industry?
Maybe it's the health andwellness space.
Maybe it's the franchise space,maybe it's the technology space,
(03:36):
but writing down, figuring outother jobs and careers that may
work.
And what are those, you know,those salaries and that's,
that's stuff that you can findon online.
I believe there's a site, uh,Glassdoor, if I'm not mistaken.
I believe that's the name of thesite.
And you could do a little bit ofresearch, uh, even asking, I'm
sure AI will be able to comeback with certain salary ranges
(03:57):
of Exactly, you know, what, whatthose ranges are, what's the
career, what's the education andexperience, uh, needed.
So, you know, taking that intoconsideration, uh, knowing
exactly, you know, that who theHR person is and you don't
wanna.
You know, star any red flagsand, and, and start asking.
But in, in the event you wannaknow who those people are
because sometimes it is adownsizing of the department,
(04:19):
but there are other departmentswithin that company, uh, that
may be hiring and looking toexpand.
So, and then, you know, theother part is, on the business
side, if you wanna go thebusiness business route, and
most people believe that.
If you're gonna start abusiness, well that means you
gotta leave the job or you needto be downsized.
Uh, and the argument I make isthat that's not the case.
(04:40):
You can absolutely keep your jobif you're still employed and
have that business on the side,whether it's a.
Startup business you've beenworking on, or a franchise as
long as a franchise allowspart-time or semi-absentee
ownership.
And obviously, you know, theyhave a conversation about what
to expect and really needing a,a, a full-time general manager
(05:01):
or someone in place to run theday to day of the business with
your involvement, maybe being alittle bit more virtual or, you
know, one time a week in person,but kind of setting those
expectations.
But looking at.
You know, what a business maylook like.
Is it something where you'rejust sick of the, the rat rate,
the corporate rat race, um, thathamre wheel and you're looking
to hire yourself and, and havemuch more control?
(05:21):
Well, uh, obviously the, thebusiness, uh, could be a great
fit.
Uh, some people wanna go thatrat, but they're not.
Comfortable with, uh, kind ofthrowing all their eggs in one
basket and not having any incomefor not knowing how long of a
period.
And some people like to continuewith the job as long as they're
employed and, and have thatbusiness on the side.
(05:41):
So, this is where I always saywho not how figure out what you
want and then figure out thepeople that can help you get
there.
So I can absolutely help you getthere.
I'm a franchise coach andconsultant.
Uh, there are others that, that,uh, are in the same role as
myself.
You know, I'm an independent,own my own company and business
and and part of a great networkthat supports us and, uh, has
(06:03):
some great partners and wouldlove to help you out in figuring
out if that made sense.
And sometimes, uh, you know, wehave a, an intro call and we're
not certain, and we have, wehave a follow up call.
And, you know, one of the mo oneof the really important things
is the why.
Why do you wanna own?
A business which flows throughto everything, right?
Uh, for me it was time freedomso that, um, I didn't miss the
(06:26):
kids', uh, events, soccerevents, dance recitals, and any
type of events, birthdays andspecial events.
And some people, it's morefinancial freedom.
Now, these are not freedoms thatyou're gain right away.
It takes, uh, at least thatbuilder year, the first year.
To get the business up andrunning, get the right staff in
place, get the training, get theinfrastructure all set up,
(06:47):
whether it's a franchise or not.
But that first year is truly a,a builder year.
But, uh, it can create some,some great outcomes.
You know, time freedom to me andbeing able to control my
schedule where I work and putall my personal.
Blocks, boulders, whatever youwant to call it on your
calendar, is most important tome.
So, you know, really comparing ajob versus a business, it's,
(07:09):
it's night and day.
I will say that a lot of peoplemaybe should own a business.
You know, they're looking forjust.
You know, I, I want, I wannawork for an employer.
They kind of tell me what to doand I kind of have this ladder,
right?
That I'm gonna move up thiscorporate ladder and that's
okay.
You know, a, a business is notmeant for everyone.
Um, I always tell people with,with a business, you gotta have
(07:30):
some thick skin.
There's gonna be ups and downs,and that why, that reason you're
doing it is really gonna get youthrough those.
Those ups and downs, but itcould be extremely rewarding.
If you can find the rightbusiness, uh, that matches what
you're looking to accomplish.
Keep in mind, so you got optionshere.
We have, a job within the sameorganization, maybe a different
(07:50):
department, maybe a differentindustry.
We have on the table, a fra, afranchise, a startup business.
These are different avenues.
And then, you know, kind ofdeciding, okay, well, which do I
prefer?
If I prefer owning a business,do I have the funds to start up
the business and have somereserves aside?
Because if you do start abusiness and you do decide you
(08:10):
do get downsize or, you know,decide to leave your job, you
know who is paying the mortgage,the student loans, the utility
bills, and things like that.
That's that buffer we weretalking about.
It's a buffer for your personalexpenses.
It's also the buffer for thebusiness if that business takes
a little bit longer to get upand running.
So.
Uh, in our case, um, we weremarried, recently married, and,
(08:33):
uh, my wife kept her job.
So I knew that we had income andher, her salary, her income
covered just about our personalexpenses for the most part.
And, uh, we had some reserves inthe event it went over.
So those are things to, toconsider.
Some people don't have the otherspouse or partner or anyone
involved in the household thatthat has a job.
(08:54):
So you gotta take that intoconsideration.
Again, there's no right or wronghere.
I wish to say, you know, it'snot black and white, it's this
way or, or that way.
It really depends on not justyour situation, but what you're
comfortable with.
You know, I had someone, uh,gentleman that didn't have a lot
in savings, but he had a milliondollars in a retirement account
and I said, well, you know, you,you know, you can utilize a
previous employer's retirementin order to fund this.
(09:16):
And although.
That was an option.
And the company we referred himto actually created that, that
retirement, uh, rolloverbusiness startup.
It was called R Rob's, ROBS, uh,from Benetrends.
Uh, he just was not comfortable.
It just had it in his head thatyou never touch retirement.
So, so it's, but it's good to,to kind of have these options
and speak with a fundingcompany.
(09:38):
Beauty is there, there's no feefor the consultation or intro
call.
Unless you were to move forward.
Um, but, you know, gettingeverything in place, talking to
individuals, and now on, on thebusiness side, you wanna talk to
people that own businesses.
You wanna talk to people thateither own the franchise.
Uh, when we work together, we'llintroduce you to brands and the
franchise companies.
We'll introduce you tofranchisees, but talk to other
(09:59):
business owners.
Listen to their experience, butalso for, for the sake of
relevancy.
You know, fi, you know, find outexactly how they started.
Their business was a full-time.
Was it part-time?
Was this business handed downfrom a previous generation?
Again, nothing wrong with that,but you wanna learn how they
specifically got into, intobusiness and what their life
(10:20):
looks like.
Uh, they may be successful indriving fancy cars, but.
You know, are they in thebusiness 20 years and working a
hundred hours a week?
That may not be what you'relooking for.
You wanna align and attract whatyou're looking to attract.
And, uh, people in similar kindof situations, you know, doing
the same thing.
So, and that's when I, I alwayssay, you put it all together.
You, you gather the information.
(10:40):
Now the trick here is.
Getting right to the point, youknow, talking with some
professionals you know, whetherthat be a career transition
individual, someone like myselfon the franchise side, and, you
know, you can spend, this iswhere the, the trap I see
people, they kinda, you know, doresearch forever and I know
people like this and just maybenot meant to be, they're more
interested in the research andactual.
(11:02):
Moving forward, but at somepoint you gotta pull the trigger
to set the expectation.
I don't think you'll ever be ahundred percent.
You're gonna be, you know,you're gonna be super passionate
maybe about the franchise or thebusiness or that job.
You know, you're not gonna knoweverything.
Part of it is saying, okay,everything is kind of lining up.
I'm gonna take that leap offaith, which is the final stage,
and I'm gonna do everything inmy power.
(11:25):
To make this work.
That's the approach I used.
I left Wall Street, lost mylicenses because when you're not
keeping up, uh, with theemployer license, your licenses
expire, which is fine.
I, I knew that I did thathomework ahead of time.
And I knew that within, Ibelieve it was two years, I
would lose all my licenses andthat was okay.
So, but I went all in.
(11:46):
I said, I do not wanna go backto this long commute, this never
ending corporate ladder that Ijust wasn't a good fit for me.
So, you know, getting all thaton the table, getting all that
information and then, um,reviewing that, it could be your
spouse, your partner, or yourfamily at the dinner table, and
looking at various options.
Maybe there's opportunities.
(12:06):
Your kids are older.
They're in college and, uh,maybe they take a role in the
business in the summer.
Maybe they take a, a role in thebusiness, they need additional
income and they could be doneremotely where maybe they're
just doing customer service orsales calls in between classes.
Something that's flexible.
So you never know by havingthese conversations, ideas come
(12:27):
up.
Opportunities come up and, uh,everything starts to line up.
And, and, and eventually it willyou know, everything will start
pointing at, you know, the, the,uh, the direction to go in.
But the whole point of this 2.2part series is really to, you
know, get up to speed, geteducated, um, get informed.
Control what you can.
You can't, you can't control theeconomy.
(12:48):
You can't control losing yourjob or not.
You can work a little bitharder, but if the, uh, higher
ups need to cut back and, um,your department is on the
chopping block, listen, it, it,it happens.
Hopefully you get a greatseverance.
If not, your, there's, you mayget a little bit of
unemployment, you may get alittle bit of a severance, but
ultimately it's like, okay,eventually that's gonna run out.
(13:10):
So in the next 3, 6, 12 months,uh, there's no income.
What are we doing here?
And, uh, yeah, this is, youknow, why I recommend people
create a safety net and havesome type of business, LLCS
Corp.
Something that they have whilekeeping their job is that
they're not just waiting untillosing the job, they're being
proactive so they can decide ifthey wanna take the leap full
(13:31):
time.
And leave the employer.
They're getting, um, a lot ofthe learning curve and, and
finding the staff while keepingthe job.
So yes.
Is it gonna be easy?
No, I mean, it, it's, it's, um,it's definitely worth it, but
it, it's definitely not gonna beeasy balancing a job and running
that business.
But this is, this is temporary,put together a plan and with six
to 12 months I'm gonna be fullsteam ahead.
(13:53):
I'm gonna be in the businessfull time, and I, and I'm not
worrying about my job or gettingpulled in.
Uh, to come into the office inNew York City for, for meetings
or travel across the country,across the world for a meeting.
So you put together that plan.
You jot it down, you put it on,I put it on my Google calendar.
You look at it every day andthen you're like, okay, what do
(14:14):
I have to do daily in order tomake this a reality?
And uh, as I mentioned, this ispreparing, this is education.
The who, not how, talking tothose individuals putting it all
down on paper and then figuringout, okay, ultimately.
You're gonna get advice fromeveryone.
You may have someone that's alittle bit more conservative,
uh, you know, getting you alittle bit scared.
There's a risk in taking abusiness.
(14:36):
Uh, and they're not doing thatintentionally.
They're, they're doing that toprotect you, obviously.
But they may have never ownedthe business before.
So the fear of the unknown iswhat's kind of, uh, holding them
back a little bit.
But ultimately that decision ison you you're never, you're
gonna be a hundred percentprepared and you're not gonna
know everything.
Day one, I, I invested infranchise and non-franchise
(14:56):
businesses and I'm learningevery single day.
And you adapt, you know, theeconomy, the world is changing.
AI is, is in effect.
You know, we're hearing it moreand more often, and we hear a
lot of franchise companiesembracing that.
And investing millions, tens ofmillions of dollars back into AI
to make the franchisees muchmore efficient, uh, helping with
the sales cycle, helping toreduce costs, uh, and things
(15:19):
like that.
So, and just being as efficientas possible.
So, you know, this is, this isthe time to get ready.
Uh, I can absolutely assist inthese areas.
Sometimes I work with people andthey're like, you know, I'm in
between a job and a business.
I'm, I'm not really certain.
Pick up the call, uh, pick upthe phone.
Or Betty book a call with me,wanna make sure we're available.
And we have, we have some a timeslot, but, uh, let's grab 20
(15:40):
minutes.
Let's talk it through.
In some cases where thefranchise or business may not be
a good fit, uh, we've madeintros to other professionals
that maybe are able to assistin, uh, spending a little bit
more time in setting up that,uh, that resume or cover letter
for you.
So.
Please guys, take me up on theoffer.
I've been in your shoes.
I will say there's some amazingthings that happen, um, when
(16:01):
everything aligns and you getinto business ownership for
those that obviously that's theright path.
But I encourage you, the o theoffers there, my, my wife, to
help as many people as possiblefigure out.
If business ownership is theright fit, and then finding that
perfect business.
And that's where, you know, wetalked on previous episodes, we,
we start with the end in mind.
(16:21):
Why are you doing this?
And what does this idealbusiness look like from the
industry?
The investment to the role andskillset you bring to the table,
to the staff and to the venue.
You know, is it a brick andmortar or, or, or home base?
And we spent a lot of timethere.
So I encourage everyone.
That's even thought about it,that's thinking of, uh, that may
be getting downsized.
(16:42):
That's at coming outta themilitary and have no idea what
direction to move into.
I've been talking quite a bit ofpeople from the military, uh, a
lot of military veterans talkingabout funding options, um, you
know, discounts that somefranchise companies offer.
On franchise fees for, uh,military veterans, first
responders and things like that.
So I encourage you we candefinitely, uh, accelerate the
(17:06):
process on a conversation.
I can kind of break it down andI always send additional
resources, but we can get up tospeed relatively quickly as
opposed to wasting lots of timelooking at a brand that.
Uh, you may not be able toafford or may not even be
available in your market.
So, uh, we help with all that.
And then, uh, the goal is tofind the perfect franchise.
(17:26):
Look at two or three that checkoff all the boxes, and then take
it from there and continue thatdue diligence process and, and
research with each of thebrands.
So, uh, take me up on the offer.
I'd love hearing from you.
I love hearing your comments.
This is, uh, why we createdthis, uh, short two part series.
Um, but I wanted, I just wantpeople to be.
(17:47):
Ready for what's out there.
Be in control of, of their, oftheir future, their financial
destiny, and, uh, just asprepared as possible.
So again, website is the bestspot, Gigi the franchise
guide.com book a call.
If you're not ready to chat, goto the podcast Franchise
Freedom.
We have 250 plus episodescovering every topic.
(18:08):
You can search the, the term andand find the relevant shows
based on that search termfranchise freedom.
The book is also available for afree download for sale hard copy
on Amazon.
That is my exact blueprint thatI personally used.
Plus a lot of extra bonuses inhelping you find your first
franchise.
And, um, if you wanna go real,just dive real deep.
(18:29):
We have 25, uh, FAQs that I geton a daily basis that talk about
what to expect timeframes,costs, and things like that all
covered.
Uh, we, we recorded for anentire day just talking about,
you know, the, uh, the da thequestions that we get on a daily
basis.
So guys, thanks again for yoursupport.
Uh, we have some great guestslined up.
(18:49):
Uh, you know, in the, in thevery near future here.
Looking forward to sharingthose.
And, uh, again, reach out if youjust have a general question.
Uh, best way is the, is you canjust contact me right through
the website.
There's a contact form.
Uh, social media is fine aswell, DM comments and things
like that.
Um, and looking forward to,anyway, your comments, your
(19:10):
questions.
If there's a topic we didn'tcover, there's a topic you want
us to talk about, let us know.
I appreciate it.
Thanks again for all yoursupport and until we, uh, talk,
uh, again.
Take care.
Bye-bye.
Thanks for tuning in if you wantto learn how to make the
transition from corporate toowning your franchise.
Join Giuseppe on the nextepisode.
(19:30):
You can also follow on allsocial media platforms and
achieve financial and timefreedom today.
So, you know, really comparing a job
(00:02):
versus a business, it's, it'snight and day.
I will say that a lot of peoplemaybe should own a business.
I always tell people with, witha business, you gotta have some
thick skin.
There's gonna be ups and downs,and that why, that reason you're
doing it is really gonna get youthrough those.
you're not gonna knoweverything.
Part of it is saying, okay,everything is kind of lining up.
I'm gonna take that leap offaith, which is the final stage,
(00:24):
and I'm gonna do everything inmy power.
To make this work.
That's the approach I used.
Welcome to the Franchise FreedomPodcast, where you can escape
the corporate trap throughfranchise ownership.
Here's your host, Giuseppe gr,the franchise guide.
(00:45):
Welcome to the Franchise Freedom Podcast.
I'm your host, Zepi Grammatic,your franchise guide, and we are
continuing the conversation withpart two, uh, of our series of
how to prepare for job loss.
So in part one, uh, we talkedabout, uh, when to prepare, and
that's immediately and some ofthe steps you should be doing
now, kind of that self,self-audit, figuring out the
(01:06):
things you're good at and and,and maybe weaknesses and the
things you enjoy doing.
Uh, followed by letting thefamily know, getting your
finances together and updated.
Uh, followed by, you know,getting your, your LinkedIn
account at bare minimum, one ofyour social platforms.
Getting that updated and, um,ready to go.
In the event, you know, you needto kind of reach out to other
(01:28):
companies or individuals, uh,should you be looking for
another job.
So in part two we're gonna focuson kind of the next steps of
figuring out what is.
The next steps, becausesometimes this is a, a pivotal
point, right?
We're we're figuring out, youknow, this is kind of a career
transition, a career pivot as Icall it, as to kind of what's
next.
(01:48):
And the beauty here is that youreally open it up to saying,
okay, well I worked on WallStreet, I worked in finance and
investments my entire career,but, uh, in the event of, uh,
that I lose a job, you know,what are.
Gonna be the next steps?
What are my options?
So we now have a better pipicture, right?
So going back to part one, wehave a LinkedIn presence, so if
(02:10):
people were to contact us, makesit a lot easier.
And uh, it's a great way toreach out to other professionals
as opposed to email.
And if you do have some thoughtsor wanna put some ideas out
there, it's great for feedback.
And via those LinkedIn and, andsocial posts, we have a better
understanding of our financials,so we know what that buffer is.
Right now we know, okay, I havecertain savings aside, we know
(02:32):
what our expenses are, networth, liquidity, you know,
liabilities, assets.
We do all that and kind offigure out, okay, in the event.
I were to start a business, whatcapital to have access to.
And that's taking intoconsideration equity in the
home.
It's taken into considerationretirement accounts.
Not that they all qualify, butif you were to lose your job
(02:53):
with your employer, o odds are,uh, you'd be able to qualify
from a previous employer,traditional IRA.
So in those next steps, we'relooking at things like, okay,
you know, keeping it opencreating a.
Kind of another Google doc.
So next to that self analysisand self audit what does a job
look like?
Do I want to be in the samerole, same industry, or do I
(03:16):
wanna branch out?
Do I have a transferableskillset?
Just say that sales andnetworking and financial service
in the investment industry.
Um, well that applies to justabout any industry.
So do I wanna switch into acompletely different industry?
Maybe it's the health andwellness space.
Maybe it's the franchise space,maybe it's the technology space,
(03:36):
but writing down, figuring outother jobs and careers that may
work.
And what are those, you know,those salaries and that's,
that's stuff that you can findon online.
I believe there's a site, uh,Glassdoor, if I'm not mistaken.
I believe that's the name of thesite.
And you could do a little bit ofresearch, uh, even asking, I'm
sure AI will be able to comeback with certain salary ranges
(03:57):
of Exactly, you know, what, whatthose ranges are, what's the
career, what's the education andexperience, uh, needed.
So, you know, taking that intoconsideration, uh, knowing
exactly, you know, that who theHR person is and you don't
wanna.
You know, star any red flagsand, and, and start asking.
But in, in the event you wannaknow who those people are
because sometimes it is adownsizing of the department,
(04:19):
but there are other departmentswithin that company, uh, that
may be hiring and looking toexpand.
So, and then, you know, theother part is, on the business
side, if you wanna go thebusiness business route, and
most people believe that.
If you're gonna start abusiness, well that means you
gotta leave the job or you needto be downsized.
Uh, and the argument I make isthat that's not the case.
(04:40):
You can absolutely keep your jobif you're still employed and
have that business on the side,whether it's a.
Startup business you've beenworking on, or a franchise as
long as a franchise allowspart-time or semi-absentee
ownership.
And obviously, you know, theyhave a conversation about what
to expect and really needing a,a, a full-time general manager
(05:01):
or someone in place to run theday to day of the business with
your involvement, maybe being alittle bit more virtual or, you
know, one time a week in person,but kind of setting those
expectations.
But looking at.
You know, what a business maylook like.
Is it something where you'rejust sick of the, the rat rate,
the corporate rat race, um, thathamre wheel and you're looking
to hire yourself and, and havemuch more control?
(05:21):
Well, uh, obviously the, thebusiness, uh, could be a great
fit.
Uh, some people wanna go thatrat, but they're not.
Comfortable with, uh, kind ofthrowing all their eggs in one
basket and not having any incomefor not knowing how long of a
period.
And some people like to continuewith the job as long as they're
employed and, and have thatbusiness on the side.
(05:41):
So, this is where I always saywho not how figure out what you
want and then figure out thepeople that can help you get
there.
So I can absolutely help you getthere.
I'm a franchise coach andconsultant.
Uh, there are others that, that,uh, are in the same role as
myself.
You know, I'm an independent,own my own company and business
and and part of a great networkthat supports us and, uh, has
(06:03):
some great partners and wouldlove to help you out in figuring
out if that made sense.
And sometimes, uh, you know, wehave a, an intro call and we're
not certain, and we have, wehave a follow up call.
And, you know, one of the mo oneof the really important things
is the why.
Why do you wanna own?
A business which flows throughto everything, right?
Uh, for me it was time freedomso that, um, I didn't miss the
(06:26):
kids', uh, events, soccerevents, dance recitals, and any
type of events, birthdays andspecial events.
And some people, it's morefinancial freedom.
Now, these are not freedoms thatyou're gain right away.
It takes, uh, at least thatbuilder year, the first year.
To get the business up andrunning, get the right staff in
place, get the training, get theinfrastructure all set up,
(06:47):
whether it's a franchise or not.
But that first year is truly a,a builder year.
But, uh, it can create some,some great outcomes.
You know, time freedom to me andbeing able to control my
schedule where I work and putall my personal.
Blocks, boulders, whatever youwant to call it on your
calendar, is most important tome.
So, you know, really comparing ajob versus a business, it's,
(07:09):
it's night and day.
I will say that a lot of peoplemaybe should own a business.
You know, they're looking forjust.
You know, I, I want, I wannawork for an employer.
They kind of tell me what to doand I kind of have this ladder,
right?
That I'm gonna move up thiscorporate ladder and that's
okay.
You know, a, a business is notmeant for everyone.
Um, I always tell people with,with a business, you gotta have
(07:30):
some thick skin.
There's gonna be ups and downs,and that why, that reason you're
doing it is really gonna get youthrough those.
Those ups and downs, but itcould be extremely rewarding.
If you can find the rightbusiness, uh, that matches what
you're looking to accomplish.
Keep in mind, so you got optionshere.
We have, a job within the sameorganization, maybe a different
(07:50):
department, maybe a differentindustry.
We have on the table, a fra, afranchise, a startup business.
These are different avenues.
And then, you know, kind ofdeciding, okay, well, which do I
prefer?
If I prefer owning a business,do I have the funds to start up
the business and have somereserves aside?
Because if you do start abusiness and you do decide you
(08:10):
do get downsize or, you know,decide to leave your job, you
know who is paying the mortgage,the student loans, the utility
bills, and things like that.
That's that buffer we weretalking about.
It's a buffer for your personalexpenses.
It's also the buffer for thebusiness if that business takes
a little bit longer to get upand running.
So.
Uh, in our case, um, we weremarried, recently married, and,
(08:33):
uh, my wife kept her job.
So I knew that we had income andher, her salary, her income
covered just about our personalexpenses for the most part.
And, uh, we had some reserves inthe event it went over.
So those are things to, toconsider.
Some people don't have the otherspouse or partner or anyone
involved in the household thatthat has a job.
(08:54):
So you gotta take that intoconsideration.
Again, there's no right or wronghere.
I wish to say, you know, it'snot black and white, it's this
way or, or that way.
It really depends on not justyour situation, but what you're
comfortable with.
You know, I had someone, uh,gentleman that didn't have a lot
in savings, but he had a milliondollars in a retirement account
and I said, well, you know, you,you know, you can utilize a
previous employer's retirementin order to fund this.
(09:16):
And although.
That was an option.
And the company we referred himto actually created that, that
retirement, uh, rolloverbusiness startup.
It was called R Rob's, ROBS, uh,from Benetrends.
Uh, he just was not comfortable.
It just had it in his head thatyou never touch retirement.
So, so it's, but it's good to,to kind of have these options
and speak with a fundingcompany.
(09:38):
Beauty is there, there's no feefor the consultation or intro
call.
Unless you were to move forward.
Um, but, you know, gettingeverything in place, talking to
individuals, and now on, on thebusiness side, you wanna talk to
people that own businesses.
You wanna talk to people thateither own the franchise.
Uh, when we work together, we'llintroduce you to brands and the
franchise companies.
We'll introduce you tofranchisees, but talk to other
(09:59):
business owners.
Listen to their experience, butalso for, for the sake of
relevancy.
You know, fi, you know, find outexactly how they started.
Their business was a full-time.
Was it part-time?
Was this business handed downfrom a previous generation?
Again, nothing wrong with that,but you wanna learn how they
specifically got into, intobusiness and what their life
(10:20):
looks like.
Uh, they may be successful indriving fancy cars, but.
You know, are they in thebusiness 20 years and working a
hundred hours a week?
That may not be what you'relooking for.
You wanna align and attract whatyou're looking to attract.
And, uh, people in similar kindof situations, you know, doing
the same thing.
So, and that's when I, I alwayssay, you put it all together.
You, you gather the information.
(10:40):
Now the trick here is.
Getting right to the point, youknow, talking with some
professionals you know, whetherthat be a career transition
individual, someone like myselfon the franchise side, and, you
know, you can spend, this iswhere the, the trap I see
people, they kinda, you know, doresearch forever and I know
people like this and just maybenot meant to be, they're more
interested in the research andactual.
(11:02):
Moving forward, but at somepoint you gotta pull the trigger
to set the expectation.
I don't think you'll ever be ahundred percent.
You're gonna be, you know,you're gonna be super passionate
maybe about the franchise or thebusiness or that job.
You know, you're not gonna knoweverything.
Part of it is saying, okay,everything is kind of lining up.
I'm gonna take that leap offaith, which is the final stage,
and I'm gonna do everything inmy power.
(11:25):
To make this work.
That's the approach I used.
I left Wall Street, lost mylicenses because when you're not
keeping up, uh, with theemployer license, your licenses
expire, which is fine.
I, I knew that I did thathomework ahead of time.
And I knew that within, Ibelieve it was two years, I
would lose all my licenses andthat was okay.
So, but I went all in.
(11:46):
I said, I do not wanna go backto this long commute, this never
ending corporate ladder that Ijust wasn't a good fit for me.
So, you know, getting all thaton the table, getting all that
information and then, um,reviewing that, it could be your
spouse, your partner, or yourfamily at the dinner table, and
looking at various options.
Maybe there's opportunities.
(12:06):
Your kids are older.
They're in college and, uh,maybe they take a role in the
business in the summer.
Maybe they take a, a role in thebusiness, they need additional
income and they could be doneremotely where maybe they're
just doing customer service orsales calls in between classes.
Something that's flexible.
So you never know by havingthese conversations, ideas come
(12:27):
up.
Opportunities come up and, uh,everything starts to line up.
And, and, and eventually it willyou know, everything will start
pointing at, you know, the, the,uh, the direction to go in.
But the whole point of this 2.2part series is really to, you
know, get up to speed, geteducated, um, get informed.
Control what you can.
You can't, you can't control theeconomy.
(12:48):
You can't control losing yourjob or not.
You can work a little bitharder, but if the, uh, higher
ups need to cut back and, um,your department is on the
chopping block, listen, it, it,it happens.
Hopefully you get a greatseverance.
If not, your, there's, you mayget a little bit of
unemployment, you may get alittle bit of a severance, but
ultimately it's like, okay,eventually that's gonna run out.
(13:10):
So in the next 3, 6, 12 months,uh, there's no income.
What are we doing here?
And, uh, yeah, this is, youknow, why I recommend people
create a safety net and havesome type of business, LLCS
Corp.
Something that they have whilekeeping their job is that
they're not just waiting untillosing the job, they're being
proactive so they can decide ifthey wanna take the leap full
(13:31):
time.
And leave the employer.
They're getting, um, a lot ofthe learning curve and, and
finding the staff while keepingthe job.
So yes.
Is it gonna be easy?
No, I mean, it, it's, it's, um,it's definitely worth it, but
it, it's definitely not gonna beeasy balancing a job and running
that business.
But this is, this is temporary,put together a plan and with six
to 12 months I'm gonna be fullsteam ahead.
(13:53):
I'm gonna be in the businessfull time, and I, and I'm not
worrying about my job or gettingpulled in.
Uh, to come into the office inNew York City for, for meetings
or travel across the country,across the world for a meeting.
So you put together that plan.
You jot it down, you put it on,I put it on my Google calendar.
You look at it every day andthen you're like, okay, what do
(14:14):
I have to do daily in order tomake this a reality?
And uh, as I mentioned, this ispreparing, this is education.
The who, not how, talking tothose individuals putting it all
down on paper and then figuringout, okay, ultimately.
You're gonna get advice fromeveryone.
You may have someone that's alittle bit more conservative,
uh, you know, getting you alittle bit scared.
There's a risk in taking abusiness.
(14:36):
Uh, and they're not doing thatintentionally.
They're, they're doing that toprotect you, obviously.
But they may have never ownedthe business before.
So the fear of the unknown iswhat's kind of, uh, holding them
back a little bit.
But ultimately that decision ison you you're never, you're
gonna be a hundred percentprepared and you're not gonna
know everything.
Day one, I, I invested infranchise and non-franchise
(14:56):
businesses and I'm learningevery single day.
And you adapt, you know, theeconomy, the world is changing.
AI is, is in effect.
You know, we're hearing it moreand more often, and we hear a
lot of franchise companiesembracing that.
And investing millions, tens ofmillions of dollars back into AI
to make the franchisees muchmore efficient, uh, helping with
the sales cycle, helping toreduce costs, uh, and things
(15:19):
like that.
So, and just being as efficientas possible.
So, you know, this is, this isthe time to get ready.
Uh, I can absolutely assist inthese areas.
Sometimes I work with people andthey're like, you know, I'm in
between a job and a business.
I'm, I'm not really certain.
Pick up the call, uh, pick upthe phone.
Or Betty book a call with me,wanna make sure we're available.
And we have, we have some a timeslot, but, uh, let's grab 20
(15:40):
minutes.
Let's talk it through.
In some cases where thefranchise or business may not be
a good fit, uh, we've madeintros to other professionals
that maybe are able to assistin, uh, spending a little bit
more time in setting up that,uh, that resume or cover letter
for you.
So.
Please guys, take me up on theoffer.
I've been in your shoes.
I will say there's some amazingthings that happen, um, when
(16:01):
everything aligns and you getinto business ownership for
those that obviously that's theright path.
But I encourage you, the o theoffers there, my, my wife, to
help as many people as possiblefigure out.
If business ownership is theright fit, and then finding that
perfect business.
And that's where, you know, wetalked on previous episodes, we,
we start with the end in mind.
(16:21):
Why are you doing this?
And what does this idealbusiness look like from the
industry?
The investment to the role andskillset you bring to the table,
to the staff and to the venue.
You know, is it a brick andmortar or, or, or home base?
And we spent a lot of timethere.
So I encourage everyone.
That's even thought about it,that's thinking of, uh, that may
be getting downsized.
(16:42):
That's at coming outta themilitary and have no idea what
direction to move into.
I've been talking quite a bit ofpeople from the military, uh, a
lot of military veterans talkingabout funding options, um, you
know, discounts that somefranchise companies offer.
On franchise fees for, uh,military veterans, first
responders and things like that.
So I encourage you we candefinitely, uh, accelerate the
(17:06):
process on a conversation.
I can kind of break it down andI always send additional
resources, but we can get up tospeed relatively quickly as
opposed to wasting lots of timelooking at a brand that.
Uh, you may not be able toafford or may not even be
available in your market.
So, uh, we help with all that.
And then, uh, the goal is tofind the perfect franchise.
(17:26):
Look at two or three that checkoff all the boxes, and then take
it from there and continue thatdue diligence process and, and
research with each of thebrands.
So, uh, take me up on the offer.
I'd love hearing from you.
I love hearing your comments.
This is, uh, why we createdthis, uh, short two part series.
Um, but I wanted, I just wantpeople to be.
(17:47):
Ready for what's out there.
Be in control of, of their, oftheir future, their financial
destiny, and, uh, just asprepared as possible.
So again, website is the bestspot, Gigi the franchise
guide.com book a call.
If you're not ready to chat, goto the podcast Franchise
Freedom.
We have 250 plus episodescovering every topic.
(18:08):
You can search the, the term andand find the relevant shows
based on that search termfranchise freedom.
The book is also available for afree download for sale hard copy
on Amazon.
That is my exact blueprint thatI personally used.
Plus a lot of extra bonuses inhelping you find your first
franchise.
And, um, if you wanna go real,just dive real deep.
(18:29):
We have 25, uh, FAQs that I geton a daily basis that talk about
what to expect timeframes,costs, and things like that all
covered.
Uh, we, we recorded for anentire day just talking about,
you know, the, uh, the da thequestions that we get on a daily
basis.
So guys, thanks again for yoursupport.
Uh, we have some great guestslined up.
(18:49):
Uh, you know, in the, in thevery near future here.
Looking forward to sharingthose.
And, uh, again, reach out if youjust have a general question.
Uh, best way is the, is you canjust contact me right through
the website.
There's a contact form.
Uh, social media is fine aswell, DM comments and things
like that.
Um, and looking forward to,anyway, your comments, your
(19:10):
questions.
If there's a topic we didn'tcover, there's a topic you want
us to talk about, let us know.
I appreciate it.
Thanks again for all yoursupport and until we, uh, talk,
uh, again.
Take care.
Bye-bye.
Thanks for tuning in if you wantto learn how to make the
transition from corporate toowning your franchise.
Join Giuseppe on the nextepisode.
(19:30):
You can also follow on allsocial media platforms and
achieve financial and timefreedom today.
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