DESCRIPTION:
John Hayes, host of the Franchise Hot Seat Podcast, interviews Jeremy Pourbaix from Franchise Flippers. They discuss the challenges and rewards of franchising, with Pourbaix stating that while many people have the desire to own their own business, it is not the right path for everyone. He identifies a lack of education as a key issue in franchising, as many people do not fully understand what it entails. Hayes agrees, noting that he spends a lot of his time educating people about franchising, both at the Titus Center for Franchising at Palm Beach Atlantic University and through an online community.
They discuss the importance of understanding whether you are suited to franchising before buying a franchise, and the potential problems that can arise if you do not. Pourbaix shares his own experience as a franchisee, having bought his first franchise territory at the age of 22 with his father. They grew their business to between five and seven locations over the course of 15 years, before selling for over a million dollars. Pourbaix describes his franchising journey as a success, but not an ""off the charts"" success.
Pourbaix's experience selling his franchises led him to create Franchise Flippers, a platform for buying and selling franchises. He emphasizes the importance of having a supportive franchisor, citing his own positive experience with John Hewitt from Liberty Tax Service. Hewitt will be the keynote speaker at the upcoming Selling Franchises Summit at the Titus Center. Pourbaix concludes by saying that every franchise owner will eventually reach a point where they want to move on, and that it is important to be prepared for this.
-With Jeremy Pourbaix.
TIMESTAMPS:
00:00 - Introduction
02:30 - Is Franchising for Everyone?
05:00 - Challenges in Franchising
07:30 - Educating about Franchising
10:00 - Pressure and Misconceptions
12:30 - Problems with Franchise Purchases
15:00 - Transition to Franchise Flippers
17:30 - Jeremy's Franchise Journey
20:00 - Growth and Development
22:30 - Liberty Tax Service
25:00 - Mentorship from John Hewitt
27:30 - Selling Franchises Summit
30:00 - Importance of Franchisee Support
32:30 - Awareness of Franchise Success Rates
35:00 - Franchisor Involvement
37:30 - Selling Your Franchise Business
40:00 - Financial Outcome
43:00 - Final Thoughts
LINKS:
WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast
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