June 14, 2025 • 12 mins
Thinking about franchise ownership? 🤔Â
Before you dive into brands, this CRUCIAL solo episode with Giuseppe Grammatico helps you answer: "Is franchising TRULY right for YOU?"Â
Explore the essential self-discovery and mindset shifts needed for success. We cover:
- The Entrepreneur vs. Employee Mindset: Are you ready to execute a system?
- Risk Tolerance Check: Investing $100K+ & following rules – can you handle it?
- Aligning with Lifestyle Goals: What does freedom & flexibility really mean to you?
- The Non-Negotiable Support System: Why family buy-in is make or break.
- Demystifying the Discovery Process: What happens on those crucial calls?
This episode lays the FOUNDATION for making an informed franchise decision. Don't skip this vital step on your path to franchise freedom!
Choose the right path at https://ggthefranchiseguide.com
Take the 3-question "Franchise Fit" quiz on our website!
Check out Giuseppe's book, "Franchise Freedom."
Connect with Franchise Freedom on:
Website: https://ggthefranchiseguide.com/podcast/
LinkedIn: https://www.linkedin.com/in/giuseppe-grammatico/
Facebook: https://www.facebook.com/GGTheFranchiseGuide
X: https://twitter.com/ggfranchguide
Instagram: https://www.instagram.com/ggthefranchiseguide/
YouTube: https://www.youtube.com/@ggthefranchiseguide
Apple: https://podcasts.apple.com/us/podcast/franchise-freedom/id1499864638
Spotify: https://open.spotify.com/show/13LTN5UzA57w2dTB4iV0fm
The Franchise Freedom: Discover Your New Path to Freedom Through Franchise Ownership, Book by Giuseppe Grammatico https://ggthefranchiseguide.com/book or purchase directly on Amazon.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
giuseppe_1_06-04-2025_150337 (00:00):
As an employee, you're basically
(00:01):
told what to do as aentrepreneur.
Specifically in a franchise,you're giving the guy the
blueprint on running asuccessful business.
But it is up to you to executeon that blueprint.
Are you comfortable investing ahundred thousand dollars of your
own money?
And following someone else'sprocess, these are things you
have to be okay with.
(00:21):
If you're doing this to createtime freedom, and then you're
not around for the first sixmonths as you're lo launching
this business that's gonna causean issue.
(00:44):
​Welcome to the FranchiseFreedom Podcast.
I'm your host, GiuseppeGrammatico, your franchise
guide, the show where we helpcorporate executives experience
time and financial freedom.
Thanks for joining us today.
Wanted to continue a series ofsolo episodes.
Going back to the basicsanswering the questions I get on
a daily basis, and helping youdecide if a franchise may or may
(01:06):
not be a good fit as it is not agood fit for everyone.
So for today's episode, I wantedto cover the topic of is
franchise ownership right foryou?
Going right at it.
Let's just figure this out.
For those that are, go to thewebsite, GGtheFranchiseGuide.com
And you go to book a call.
There is a three question surveythat will also help you in
(01:29):
further figuring out if afranchise is a good fit.
We're really diving intoself-discovery mindset laying
the foundation before exploringspecific brands.
As we work in reverse.
The brands will come after, butwe need that, that that
foundation and figuring out theright fit of the brand.
And I think that eliminates alot of the questions.
That eliminates a lot of theconcerns once the foundation is
(01:51):
laid in the very beginning asto.
Why do you want the franchiseand what that franchise looks
like?
Kind of five key areas we'lldiscuss today.
So number one is entrepreneurversus employee mindset.
As an employee, you're basicallytold what to do as a
entrepreneur.
Specifically in a franchise,you're giving the guy the
blueprint on running asuccessful business.
(02:13):
But it is up to you to executeexecute on that blueprint.
It is not gonna be done for you.
You really need to figure out,how you're gonna execute that.
The mindset's big and themindset is simply, not, after
finding that right fit, it'sbasically what is it gonna take
to make this businesssuccessful?
And it's number one executing onthe plan, executing on the
(02:34):
franchise itself and then,hiring the right staff and not
giving up.
This is a franchise as abusiness.
Setting the right expectationsupfront, I think it's gonna be
big.
It's gonna be a lot of work,it's gonna be a lot of hours
regardless of the type offranchise.
The franchise is not gonna runit on its own.
There, there's none of thispassive investment, passive
ownership type of franchise youreally need to put the hours
(02:58):
into to make the businesssuccessful.
And the mindset changes to, okaynot, will I be successful, but I
will be successful and what do Ihave to do to get systems in
place and the right people inplace so that the systems can
roll and I can take more of ahands-off approach or, kind of
working on the business.
Worse versus in the business.
(03:19):
That's definitely a change.
Mindset shift too is also, howmuch money can I make the first
year?
You're building something.
There's tax advantages that youwon't get as an employee.
There's a resale value of thebusiness.
Those all come into play.
Where you're, we talked aboutexit strategies and what that
all looks like.
Those are some shifts inthinking.
But really executing on that.
And then what does that thefuture hold in the business?
(03:42):
Whether it mean exit strategy,planning, does it mean adding
another territory or zip codesor another complimentary
business?
These are all things to, toconsider.
Number two, risk tolerance.
Check.
Are you comfortable investing ahundred thousand dollars of your
own money?
And following someone else'sprocess, these are things you
have to be okay with.
With any business, there's gonnabe an investment, whether it's
(04:04):
your own money, which eventuallyit all is.
You're taking a loan initially,combination retirement SBA loan,
home equity line of credit.
But what is your risk tolerance?
And I think with the risktolerance, you're go, goes back
to, what is the right franchise?
And that goes back to thefoundation.
Let's make sure that thefranchisor offers the level of
(04:25):
support.
'cause remember, not allfranchises are built the same.
So they need to offer the levelof support that you're gonna be
comfortable with.
You're gonna hear that from thefranchisor, but more
importantly, you're gonna hearthat directly from your fellow
franchisees and the supportthey're getting, not only when
they started, but ongoing.
Risk tolerance, everyone gaugesthings differently.
Is the franchise more emerging?
(04:46):
Are they newer versusestablished?
Established brands are great,has more of a history.
My only challenge with some ofthe established brands are not
area available.
Whereas some of the emergingbrands are newer, maybe you have
less franchisees, less his tospeak with, less history to
review.
But you have, that availabilityright in your backyard, which is
super excited.
(05:06):
You could be that pioneer inyour state, right in your
backyard, where you haveexisting relationships that you
can take advantage of and runwith initially.
But risk tolerance goes back to,not just the investment, but
what can you make in thebusiness.
No one's gonna tell you exactlythat information.
There's no crystal ball.
So you're gonna get someinformation from the franchisor,
create a proforma and speak withyour fellow franchisees.
(05:29):
Figure out on average, okay, weknow what the investment's gonna
be, but what's my monthlyexpense via the proforma and
what can I make?
Per location or per territory.
Due diligence is key.
Do not skip this section.
Definitely spend the time whenpeople say, the fear comes up,
it's because either they didn'tdo the due diligence, in the
(05:49):
very beginning or they forgot.
It just needs to be brought backup, how do we even get into
looking at a business that's inwater and smoke restoration?
I don't have any experiencethere.
We discussed you don't needexperience there.
We talked about your role beinga mayor of the town and
networking with the Chamber ofCommerce and your fellow or your
local plumbers and things likethat.
(06:10):
We didn't just pick thisrandomly or out of a hat.
It checked off all the boxes.
The industry itself will betaught to you.
That's part of the training andonboarding lifestyle We talked
about the five freedoms of DanSullivan, time and Financial
Freedom being the top two.
Freedom of location, freedom ofpurpose, freedom to choose who
(06:31):
you get to work with.
Lifestyle goals are another one.
Lifestyle goals could be am Ibuying a business that maybe
it's mosquito spraying workingseven or eight months a year and
having the winters off tovacation to cost my second home
in Costa Rica.
I don't have that.
I'm not sure why I went to that,but I know someone I would work
with had a home there.
It could be, or I'm gonnacontinue working throughout the
(06:52):
entire year and offer holidaylighting in the winter.
Lifestyle goals could be,working on the business, getting
the general manager.
Maybe they're vested or theyhave some equity in the game,
some skin in the game that theycan run with.
So that you're not.
You're working nights andweekends and doing whatever it
takes to get the business up andrunning, what are your
priorities?
Flexibility.
Some people are okay as long asthe the hours are Monday to
(07:15):
Friday they're okay with anyhours because maybe they're
doing business with schools andschools close by three or four
o'clock off on weekends,holidays, and summers and things
like that.
Another thing to, to considersupport system your internal
support system, this is huge.
It's one of those where, if youdon't have support from the
(07:36):
family, it's do not pass.
Go Do not collect$200 inMonopoly.
I talk about this in my book.
You gotta let everyone know whyyou're doing this.
If you're doing this to createtime freedom, and then you're
not around for the first sixmonths as you're lo launching
this business that's gonna causean issue.
If you're married.
Whoever's involved in, in, inyour relationship or in the
household, let everyone knowwhat you're doing.
(07:58):
There's gonna be a significantinvestment, both financially as
well as time.
You're doing this to create timefreedom.
You're doing this to not missthe kids' soccer games and
tournaments, or the girl scoutmeetings.
The daddy-daughter dances andstuff like that.
It is gonna be sacrifice.
May not be a vacation that year.
Mom or dad may be home lessoften or they're gonna be home.
(08:20):
But spending a lot more time onthe business, that's okay.
You want buy-in.
You need to let everyone know.
You don't wanna blindside anyonebuy this.
You know that support system.
Is gonna be huge.
And then a another layer to thatsupport system is getting that
team in place.
Your financial advisor, yourCPA, your accountant your
attorney.
Having a, that team of three toreally support you so that every
(08:43):
decision going forward, you'relooking at the legal aspect, the
tax aspect and then the completefinancial plan, right?
Because there's gonna be thisplan of all your money, all your
investments, and what percentageis into the, in the business,
what is inequities, cash life,whole life insurance, wherever
the case may be.
That's kind of the second layerin the support system.
But you definitely want buy-inin the household what happens on
(09:07):
a discovery call.
There's no secret here.
You're gonna talk three, threethings.
You're gonna talk to thefranchisor in the first couple
calls, learn about the branddecide together solidify that,
that fit the fits there.
Step two or stage two is you'regonna speak with franchisees
validation calls.
Tell me the good, the bad andeverything in between.
(09:27):
If there was an issue in thepast, did the franchisor listen
to you?
Did they take your feedback?
Did they make the changes aspromised?
These are things that are partof discovery.
So you always start with thefranchisor.
They'll have different ways foryou to speak with franchisees
that may be prerecorded calls,especially if you're working
during the day.
You can listen maybe on yourride home live calls as well as
(09:50):
one-on-one calls.
You get to speak withfranchisees in different
positions.
Maybe people that just startedless than a year, people that
have been in the business adecade.
And everything in betweenfranchisees that started
full-time, franchisees thatstarted part-time, what we call
semi-absentee.
So that is kind of what happenson discovery.
And then finally, third orstages meeting the franchisor
(10:11):
either virtually or in personfor a discovery or confirmation
day.
There's a couple names for it.
There's actually a third onethat'll come to me here in a
second.
But yeah, the, these are, fivethings to think about.
So let's review'em.
Ent, the entrepreneur versusemployee mindset, risk
tolerance, check, lifestylegoals support system.
Is the family on board.
(10:32):
What happens at discovery onthese discovery calls?
If any of this resonated withyou, let's jump on a quick call.
More than glad to dive in alittle bit deeper.
I know we went through thesekind of fast, but you know, this
our calls will be figuring outtogether if a franchise is a
good fit.
We'll look at your currentsituation.
What are you trying toaccomplish?
Maybe everything lines up, butthe financials aren't there.
(10:54):
The credit score isn't there forfunding.
We'll take a look at just abouteverything.
So on that first call, we'llfigure if there's potential fit,
we'll send you out aquestionnaire to gather some
additional info, and then we'lldive in a second call.
It's a 60 minute consultationcall.
This is a really exciting callbecause that's where the
franchise model is.
It is created together.
(11:16):
We'll look at what the idealbusiness looks like and we will
gauge all future brands, allfuture companies based off that
model.
Thanks again for joining ustoday.
Love to help you in the process.
Go to gigi the franchiseguide.com.
You can book a call.
There's a survey on there.
There's resources, FAQs, about250 podcasts are on there.
Guest appearances.
(11:37):
If there's a specific topic, youcould just do a search on the I
believe it's the top corner ofthe screen.
And really excited to speakingwith you helping you along your
journey.
And take advantage of theresources.
The book Franchise Freedom laysout my exact blueprint process
and it's the exact process Iused in purchasing my first
franchise.
Thanks again for joining usguys.
(11:57):
And, we'll have some some futuresolo shows that we're gonna be
creating.
They're gonna be shorterepisodes done intentionally
wanna get right to the meat andhelp you figure out if if a
franchise may be a good fit andkind of what to expect along the
journey.
Take care.
Thanks for tuning in if you wantto learn how to make the
transition from corporate toowning your franchise.
(12:18):
Join Giuseppe on the nextepisode.
You can also follow on allsocial media platforms and
achieve financial and timefreedom today.
As an employee, you're basically
(00:01):
told what to do as aentrepreneur.
Specifically in a franchise,you're giving the guy the
blueprint on running asuccessful business.
But it is up to you to executeon that blueprint.
Are you comfortable investing ahundred thousand dollars of your
own money?
And following someone else'sprocess, these are things you
have to be okay with.
(00:21):
If you're doing this to createtime freedom, and then you're
not around for the first sixmonths as you're lo launching
this business that's gonna causean issue.
(00:44):
​Welcome to the FranchiseFreedom Podcast.
I'm your host, GiuseppeGrammatico, your franchise
guide, the show where we helpcorporate executives experience
time and financial freedom.
Thanks for joining us today.
Wanted to continue a series ofsolo episodes.
Going back to the basicsanswering the questions I get on
a daily basis, and helping youdecide if a franchise may or may
(01:06):
not be a good fit as it is not agood fit for everyone.
So for today's episode, I wantedto cover the topic of is
franchise ownership right foryou?
Going right at it.
Let's just figure this out.
For those that are, go to thewebsite, GGtheFranchiseGuide.com
And you go to book a call.
There is a three question surveythat will also help you in
(01:29):
further figuring out if afranchise is a good fit.
We're really diving intoself-discovery mindset laying
the foundation before exploringspecific brands.
As we work in reverse.
The brands will come after, butwe need that, that that
foundation and figuring out theright fit of the brand.
And I think that eliminates alot of the questions.
That eliminates a lot of theconcerns once the foundation is
(01:51):
laid in the very beginning asto.
Why do you want the franchiseand what that franchise looks
like?
Kind of five key areas we'lldiscuss today.
So number one is entrepreneurversus employee mindset.
As an employee, you're basicallytold what to do as a
entrepreneur.
Specifically in a franchise,you're giving the guy the
blueprint on running asuccessful business.
(02:13):
But it is up to you to executeexecute on that blueprint.
It is not gonna be done for you.
You really need to figure out,how you're gonna execute that.
The mindset's big and themindset is simply, not, after
finding that right fit, it'sbasically what is it gonna take
to make this businesssuccessful?
And it's number one executing onthe plan, executing on the
(02:34):
franchise itself and then,hiring the right staff and not
giving up.
This is a franchise as abusiness.
Setting the right expectationsupfront, I think it's gonna be
big.
It's gonna be a lot of work,it's gonna be a lot of hours
regardless of the type offranchise.
The franchise is not gonna runit on its own.
There, there's none of thispassive investment, passive
ownership type of franchise youreally need to put the hours
(02:58):
into to make the businesssuccessful.
And the mindset changes to, okaynot, will I be successful, but I
will be successful and what do Ihave to do to get systems in
place and the right people inplace so that the systems can
roll and I can take more of ahands-off approach or, kind of
working on the business.
Worse versus in the business.
(03:19):
That's definitely a change.
Mindset shift too is also, howmuch money can I make the first
year?
You're building something.
There's tax advantages that youwon't get as an employee.
There's a resale value of thebusiness.
Those all come into play.
Where you're, we talked aboutexit strategies and what that
all looks like.
Those are some shifts inthinking.
But really executing on that.
And then what does that thefuture hold in the business?
(03:42):
Whether it mean exit strategy,planning, does it mean adding
another territory or zip codesor another complimentary
business?
These are all things to, toconsider.
Number two, risk tolerance.
Check.
Are you comfortable investing ahundred thousand dollars of your
own money?
And following someone else'sprocess, these are things you
have to be okay with.
With any business, there's gonnabe an investment, whether it's
(04:04):
your own money, which eventuallyit all is.
You're taking a loan initially,combination retirement SBA loan,
home equity line of credit.
But what is your risk tolerance?
And I think with the risktolerance, you're go, goes back
to, what is the right franchise?
And that goes back to thefoundation.
Let's make sure that thefranchisor offers the level of
(04:25):
support.
'cause remember, not allfranchises are built the same.
So they need to offer the levelof support that you're gonna be
comfortable with.
You're gonna hear that from thefranchisor, but more
importantly, you're gonna hearthat directly from your fellow
franchisees and the supportthey're getting, not only when
they started, but ongoing.
Risk tolerance, everyone gaugesthings differently.
Is the franchise more emerging?
(04:46):
Are they newer versusestablished?
Established brands are great,has more of a history.
My only challenge with some ofthe established brands are not
area available.
Whereas some of the emergingbrands are newer, maybe you have
less franchisees, less his tospeak with, less history to
review.
But you have, that availabilityright in your backyard, which is
super excited.
(05:06):
You could be that pioneer inyour state, right in your
backyard, where you haveexisting relationships that you
can take advantage of and runwith initially.
But risk tolerance goes back to,not just the investment, but
what can you make in thebusiness.
No one's gonna tell you exactlythat information.
There's no crystal ball.
So you're gonna get someinformation from the franchisor,
create a proforma and speak withyour fellow franchisees.
(05:29):
Figure out on average, okay, weknow what the investment's gonna
be, but what's my monthlyexpense via the proforma and
what can I make?
Per location or per territory.
Due diligence is key.
Do not skip this section.
Definitely spend the time whenpeople say, the fear comes up,
it's because either they didn'tdo the due diligence, in the
(05:49):
very beginning or they forgot.
It just needs to be brought backup, how do we even get into
looking at a business that's inwater and smoke restoration?
I don't have any experiencethere.
We discussed you don't needexperience there.
We talked about your role beinga mayor of the town and
networking with the Chamber ofCommerce and your fellow or your
local plumbers and things likethat.
(06:10):
We didn't just pick thisrandomly or out of a hat.
It checked off all the boxes.
The industry itself will betaught to you.
That's part of the training andonboarding lifestyle We talked
about the five freedoms of DanSullivan, time and Financial
Freedom being the top two.
Freedom of location, freedom ofpurpose, freedom to choose who
(06:31):
you get to work with.
Lifestyle goals are another one.
Lifestyle goals could be am Ibuying a business that maybe
it's mosquito spraying workingseven or eight months a year and
having the winters off tovacation to cost my second home
in Costa Rica.
I don't have that.
I'm not sure why I went to that,but I know someone I would work
with had a home there.
It could be, or I'm gonnacontinue working throughout the
(06:52):
entire year and offer holidaylighting in the winter.
Lifestyle goals could be,working on the business, getting
the general manager.
Maybe they're vested or theyhave some equity in the game,
some skin in the game that theycan run with.
So that you're not.
You're working nights andweekends and doing whatever it
takes to get the business up andrunning, what are your
priorities?
Flexibility.
Some people are okay as long asthe the hours are Monday to
(07:15):
Friday they're okay with anyhours because maybe they're
doing business with schools andschools close by three or four
o'clock off on weekends,holidays, and summers and things
like that.
Another thing to, to considersupport system your internal
support system, this is huge.
It's one of those where, if youdon't have support from the
(07:36):
family, it's do not pass.
Go Do not collect$200 inMonopoly.
I talk about this in my book.
You gotta let everyone know whyyou're doing this.
If you're doing this to createtime freedom, and then you're
not around for the first sixmonths as you're lo launching
this business that's gonna causean issue.
If you're married.
Whoever's involved in, in, inyour relationship or in the
household, let everyone knowwhat you're doing.
(07:58):
There's gonna be a significantinvestment, both financially as
well as time.
You're doing this to create timefreedom.
You're doing this to not missthe kids' soccer games and
tournaments, or the girl scoutmeetings.
The daddy-daughter dances andstuff like that.
It is gonna be sacrifice.
May not be a vacation that year.
Mom or dad may be home lessoften or they're gonna be home.
(08:20):
But spending a lot more time onthe business, that's okay.
You want buy-in.
You need to let everyone know.
You don't wanna blindside anyonebuy this.
You know that support system.
Is gonna be huge.
And then a another layer to thatsupport system is getting that
team in place.
Your financial advisor, yourCPA, your accountant your
attorney.
Having a, that team of three toreally support you so that every
(08:43):
decision going forward, you'relooking at the legal aspect, the
tax aspect and then the completefinancial plan, right?
Because there's gonna be thisplan of all your money, all your
investments, and what percentageis into the, in the business,
what is inequities, cash life,whole life insurance, wherever
the case may be.
That's kind of the second layerin the support system.
But you definitely want buy-inin the household what happens on
(09:07):
a discovery call.
There's no secret here.
You're gonna talk three, threethings.
You're gonna talk to thefranchisor in the first couple
calls, learn about the branddecide together solidify that,
that fit the fits there.
Step two or stage two is you'regonna speak with franchisees
validation calls.
Tell me the good, the bad andeverything in between.
(09:27):
If there was an issue in thepast, did the franchisor listen
to you?
Did they take your feedback?
Did they make the changes aspromised?
These are things that are partof discovery.
So you always start with thefranchisor.
They'll have different ways foryou to speak with franchisees
that may be prerecorded calls,especially if you're working
during the day.
You can listen maybe on yourride home live calls as well as
(09:50):
one-on-one calls.
You get to speak withfranchisees in different
positions.
Maybe people that just startedless than a year, people that
have been in the business adecade.
And everything in betweenfranchisees that started
full-time, franchisees thatstarted part-time, what we call
semi-absentee.
So that is kind of what happenson discovery.
And then finally, third orstages meeting the franchisor
(10:11):
either virtually or in personfor a discovery or confirmation
day.
There's a couple names for it.
There's actually a third onethat'll come to me here in a
second.
But yeah, the, these are, fivethings to think about.
So let's review'em.
Ent, the entrepreneur versusemployee mindset, risk
tolerance, check, lifestylegoals support system.
Is the family on board.
(10:32):
What happens at discovery onthese discovery calls?
If any of this resonated withyou, let's jump on a quick call.
More than glad to dive in alittle bit deeper.
I know we went through thesekind of fast, but you know, this
our calls will be figuring outtogether if a franchise is a
good fit.
We'll look at your currentsituation.
What are you trying toaccomplish?
Maybe everything lines up, butthe financials aren't there.
(10:54):
The credit score isn't there forfunding.
We'll take a look at just abouteverything.
So on that first call, we'llfigure if there's potential fit,
we'll send you out aquestionnaire to gather some
additional info, and then we'lldive in a second call.
It's a 60 minute consultationcall.
This is a really exciting callbecause that's where the
franchise model is.
It is created together.
(11:16):
We'll look at what the idealbusiness looks like and we will
gauge all future brands, allfuture companies based off that
model.
Thanks again for joining ustoday.
Love to help you in the process.
Go to gigi the franchiseguide.com.
You can book a call.
There's a survey on there.
There's resources, FAQs, about250 podcasts are on there.
Guest appearances.
(11:37):
If there's a specific topic, youcould just do a search on the I
believe it's the top corner ofthe screen.
And really excited to speakingwith you helping you along your
journey.
And take advantage of theresources.
The book Franchise Freedom laysout my exact blueprint process
and it's the exact process Iused in purchasing my first
franchise.
Thanks again for joining usguys.
(11:57):
And, we'll have some some futuresolo shows that we're gonna be
creating.
They're gonna be shorterepisodes done intentionally
wanna get right to the meat andhelp you figure out if if a
franchise may be a good fit andkind of what to expect along the
journey.
Take care.
Thanks for tuning in if you wantto learn how to make the
transition from corporate toowning your franchise.
(12:18):
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