February 27, 2025 • 17 mins
Dive into the dynamic world of franchising in this episode featuring Adam Goldman, a seasoned franchise consultant dedicated to helping you unlock your financial freedom through strategic business ownership. Adam's journey began in the aftermath of the recession, guiding him from real estate investments to become an expert in matching aspiring franchisees with the opportunities that suit their goals.
During our engaging conversation, we explore the delicate balance between strong branding and the fundamental systems that can make a franchise successful. Adam shares invaluable insights about current market conditions and the critical role they play in informing potential investors. He highlights that understanding the operational systems that underpin each franchise is just as key as recognizing the brand name.
The episode also sheds light on actionable strategies for aspiring franchise owners. Adam recommends that future franchisees should first clarify their motivations for entering the field. A structured approach that includes a personal assessment can illuminate which franchises may work best for them. Moreover, the tax benefits associated with franchise ownership present a significant opportunity for financial savvy.
In a market filled with uncertainty, armed with Adam's insights, listeners can navigate the landscape of franchise investing with confidence. Whether you are contemplating your first investment or seeking to understand franchising better, this episode is packed with expertise and practical advice to set you on the right path.
Ready to take the first step in your franchise journey? Don’t forget to subscribe and leave us a review! Your journey to financial independence could begin with a single investment.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Welcome everybody to the Professionalist Real Estate
Investing Podcast.
I'm with Adam Goldman.
How are you doing, adam, today?
Speaker 2 (00:09):
Doing great, Tony.
How are you today?
Speaker 1 (00:11):
I'm doing great.
Great the world out there, adam.
He is a franchise consultant,an entrepreneur with a track
record of helping people achievefinancial freedom through smart
business ownership.
Adam, how did you get into thisfield right here?
How did you start off?
Speaker 2 (00:26):
So, look, I kind of became a franchise coach by
accident.
I started out in thefranchising world in 2010, after
the last great recession.
I didn't know what I wanted todo next.
I had all these different realestate investments that were.
The opportunities were kind ofdrying up.
It was a situation whereprivate equity was getting into
(00:49):
the single family residencemarket and I talked to a friend
who had a friend who was in thefranchising world and she gave
me a few different options and Idecided to invest in Vanguard
Cleaning, which was an officecleaning master franchise, owned
that business for about eightand a half years and was able to
sell that business and I kindof stumbled into franchise
(01:12):
coaching, meaning I'm in here tokind of make matches between
franchise brands that arelooking for franchisees and
franchisees that are looking forgreat investments, and so
that's my role.
I'm kind of I'm like eHarmonyor Matchcom for the franchising
world.
Speaker 1 (01:29):
Ok that's great, that's great.
And then 2010.
So, yeah, you, you startedright after the housing market
went down and everything.
And then from there, that'swhen you started.
Okay, how do you feel, likeright now, with financial wise
like this is a general question,I ask especially with the
(01:52):
change of leadership, with ourgovernment and everything, how
do you think it's going to do inthe sector of real estate
investing, financial market?
Speaker 2 (02:01):
So I think there's a lot of uncertainty in the market
about what's happening right.
We keep on hearing differentthings.
We hear that unemployment'sdown, but I talk to people that
talk about how hard it is tofind jobs, especially good jobs.
We talk about how great theeconomy is doing right, but you
also hear kind of mixed messages.
Look, I would say that not allof my placements are real estate
(02:26):
related.
When it comes to franchiseinvesting, franchise investors
Some are brick and mortarfranchises, some are non-brick
and mortar I think that theoutlook is very unclear.
I definitely think that thecurrent administration is going
to stimulate the economy.
For sure.
That means that there will bedemand, but it's still to be
(02:47):
determined if we can actually goahead and tame inflation.
I wish I had a crystal ball.
I don't know where we're going.
Yeah.
Speaker 1 (02:55):
Yeah, that's true.
I don't know where it's atright now.
I know, like, with the interestrate where it is, it's going to
go down a little bit, but it'snot going to be like it was.
When COVID was around.
I said that that was just agenerational time period, right
there, with the interest rate,the way it was.
Speaker 2 (03:11):
I'm very grateful that I was able to buy my house
and get a two and a half percentjumbo mortgage.
But the disadvantage of that,Tony, is that I'm not.
I'm never going to be able tosell my house and to find
another house with that samerate in my lifetime.
I think I'm not.
I'm never going to be able tosell my house and to find
another house with that samerate in my lifetime.
I think I'm kind of stuck in myhouse.
Speaker 1 (03:29):
Wow, that is true.
That's true.
The lowest I've ever seensomeone in that time period is
they got a one point.
Nine, nine oh my gosh.
That'll never, ever happenagain.
Speaker 2 (03:39):
No, I never say never , but I don't see that happening
anytime soon.
No, no, no, no.
Speaker 1 (03:43):
I never say never, but I don't see that happening
anytime soon.
No, no, no, no.
Speaker 2 (03:53):
What type of actionable strategies do you use
, with you being a franchisecoach?
So, look, my role is to kind ofmake this perfect match and I
have a personalized approach.
And look, people always ask me,even at like cocktail parties.
Speaker 1 (04:02):
hey, adam what's the hottest?
Speaker 2 (04:03):
brand out there.
Which three brands would yourecognize for me or would you
recommend to me?
And that's really it's hard forme to, before I know people, to
kind of give them my top three.
And so what I do is first I getto know them, I send out a
survey that takes five to 10minutes and then, once I got
that survey back, I go ahead andspeak to them and anyone else
(04:24):
involved in the decision andkind of get to know them better,
like a matchmaking type thing,where I find out what they're
looking for, why they're lookingto invest in franchises, and
then I see which territories areavailable.
I work with brands that are in75 different industries that are
pre-screened.
Speaker 1 (04:40):
And then I make the.
Speaker 2 (04:41):
I'm trying to narrow it down to three brands that are
a good match from a just from acharacteristic point of view
for my candidates okay, thatbrings a good question, because
there's a lot out there talkabout branding all the time.
Speaker 1 (04:54):
Um, what makes a good , solid brand?
Because there's a lot of peoplethat they view like, oh, it's
the logo, oh, it's it's the, thepurpose of the company.
Um, is there, like alldifferent types, little
equations that make a brandsolid?
Speaker 2 (05:12):
look, I'm so glad you brought that up, because um
brand is one of the pieces forfranchising, right?
It's the system as well thatyou're buying, and everyone's
heard of crumble cookie ororange theory, but in reality,
if you're one of the majormarkets in the United States,
it's probably been sold outalready, right?
So the system, in my opinion,is more important than the brand
(05:33):
.
Chipotle was an emerging brandwhen, when McDonald's bought the
franchise.
Right, and all of a sudden, ifyou're a Chipotle franchisee,
you have McDonald's managementteam and get the Chipotle brand,
which at that time wasn't avery powerful brand but became
more powerful.
So to answer your question aboutbrands in general, I mean what
(05:55):
makes a strong brand issomething that's recognizable
and has trust right.
It could be Sprint or T-Mobilethat everyone's heard of, or
Spirit Airlines Nothing againstSpirit, but it has a horrible
NPS score right.
So just because it'srecognizable doesn't mean it's
going to be trusted.
Speaker 1 (06:12):
OK, true, very true.
And what would?
If a person is coming in andthey're like you know what, I'm
going to start my own business,or you know I'll be an
entrepreneur or in that sector,right there, what?
How should they startdeveloping a brand?
Because I know a lot of peoplecome to me and they ask me that
(06:32):
question a lot, and they ask methat question a lot, and I tell
them I said, well, I told themthe way I did it, but my ways
might not be the best way forthem, because it's all different
ways, they're all differentoptions.
Speaker 2 (06:43):
So, look, I'm glad you're talking about branding
Right, Because one of the greatthings about your brand is like
McDonald's right or Chick-fil-A,whatever that might be.
You have to just kind ofemulate the brand and maybe make
(07:06):
tweaks to it.
So the great thing aboutfranchising is you're not
creating it from scratch becauseyou're right, it's hard to
create a brand from scratch,right and look.
A brand isn't only a logo, butit's also a feeling right when
people go into a specific theyhave a specific feeling about
Southwest Airlines.
Speaker 1 (07:24):
That's why.
Speaker 2 (07:24):
I'm so sad about what's happening there this week
.
I think it's one.
When I was at business school,we learned about Southwest and
just how amazing that brand is.
It's almost an emotionalattachment to it and the private
equity group that decided totake over Southwest is making
all these changes is reallygutting the company.
There's a reason why thevaluation of Southwest was so
(07:45):
much higher than all its peersbecause of their culture and the
brand people, Wall Street waswilling to give it a higher
valuation up until this week.
It's really sad.
Speaker 1 (07:57):
I was looking at that too, because I'm always looking
at, listening to a lot of news,especially when it comes to
business.
Speaker 2 (08:04):
Aren't they laying?
Speaker 1 (08:04):
off people.
This is like the first time inmany years that they're laying
off people.
Speaker 2 (08:08):
First time ever to lay off people.
They're laying off 15% of theirworkforce and, by the way, no
more feeding.
That is by section or by letter.
Right, it's going to beassigned seating on Southwest.
Speaker 1 (08:21):
Oh, it's going to be assigned seating now.
Yeah, oh wow.
That's a huge change, BecauseSouthwest you just go on board
and first come, first serve.
That's why I always loved it.
Speaker 2 (08:32):
Yeah, me too.
It's coming next year andthey're taking what made it
different at the core of thebrand, or the core of the
company, the essence of thecompany and just kind of the
differentiator, and getting ridof that and look, I mean a brand
(08:57):
is you have like this, thisvision of what it what it might
be.
Coca-cola spends billions ofdollars or millions of dollars
to make you think that caramelflavored water is somehow
refreshing.
Speaker 1 (09:10):
Yeah, exactly, or whatever it might be, it's just
it's, it's, it's just theessence of the business be it,
just it's it's, it's just theessence of the business.
Yeah, why is it?
Do you think that a lot ofcompanies I don't know where
it's like maybe third party, whydo they, if it isn't broke,
don't fix it?
Why do you feel that a lot ofthem change, like from their
solid background to somethingdifferent?
(09:31):
It's like, is it the sign ofthe times, or they want to
experiment or are they bored?
Frankly, I think a lot.
Speaker 2 (09:40):
it's greed, right.
If you look at a company likeJaguar, right, jaguar had the
most amazing iconic brand.
You have this Puma, whatever itis, or Jaguar that's on the
front of the car and it's justan amazing brand.
And supposedly they had somesort of management team come in
or some sort of ad agency andthey came up with something that
was just unrecognizable anymore, uh, for the, for their car.
(10:02):
So I have no idea why peoplechange and mess with it.
Speaker 1 (10:06):
you're right, if it's , if it's not, broke, don't fix
it yeah, because it's a like asolid foundation, like, look at,
uh, I'm a huge, I weareverything.
Basically nike, like n Nike'salways like, just do it.
Like just that model itself, Imean, just that simple model is
always been the way it is.
And like what else?
(10:26):
Let me think, whatever.
Like KFC they changed, theychanged.
It was Kentucky Fried Chicken,they changed the KFC, and then
they changed a little bit there.
They it was Kentucky FriedChicken, they changed the KFC,
and then they changed a littlebit there.
And you're right, when it comesto branding, it's, it's it's
different for everyone.
It's definitely different,especially with these companies
(10:48):
too, and I find a lot of itnowadays they're changing little
, they're tweaking a little bitthere, and I'm just like if it's
there, don't.
If it's there, don't, fix it,because that's how people know
it.
Yeah and again that's one of thebig advantages of investing in
a franchise business that youdon't have to create this from
scratch yes, so when somebodylook, so someone comes to you,
(11:09):
adam, and they want to invest ina franchise or or buy a
franchise, what, what's thesteps do they need to take?
So they, they're coming to you,they're like, adam, I want to
get into this franchise or buythis franchise, or be part of
this franchise.
What's the first step that theyneed to do when they come to
you?
Speaker 2 (11:28):
Got it.
So first they have to book acall, right?
I mentioned before aboutfilling out surveys and getting
people involved in that process,right, but they just have to
kind of make a call and ifsomeone's not a fit, I promise
to let them know and look.
What I would say is it's a biginvestment.
It's one of the biggest thingspeople invest money in besides
their house.
So it's a six-figure investmentor more.
(11:51):
There is financing available,but they really have to
understand what their why is,because people that don't really
have a strong reason to investin a franchise aren't probably
you're not going to invest inone that's true, that's true,
and I always said, yeah, youneed to know your why, what's
your purpose behind, behind yourdecision right there.
Speaker 1 (12:09):
And see, it just came slipped out of my mind.
Um, when it comes to the, thefranchises, because everything
is structured, um, oh man, Ijust thought I just it just
slipped out of my mind.
That's okay.
Uh, when it comes, when itcomes to the franchising part
and everything, and, like I said, you need to know your why.
Um, like, like, do you give,like, an evaluation?
(12:34):
You tell them what theevaluation of the franchise,
whatever they're, which one theywant to be, whatever, whichever
one they want to purchase, isthere like a grade scale?
Speaker 2 (12:43):
So such a great question.
So my goal, I'm trying to giveA plus right for all three of
these brands because I havebrands that are pre-screened in
75 industries that are in myportfolio.
But an A plus brand, right,isn't necessarily an A plus
match for everyone, right?
So I'm trying to make thesematches just like if you're on
Matchcom, your spouse or myspouse might not be the perfect
(13:06):
match for someone else, right?
So it's really digging in andfinding out what that, what
they're looking for, and thenreally finding that right fit OK
.
Speaker 1 (13:17):
Yes, ok, and then I remember it was.
I now remember now what I wasgoing to say.
When they're purchasing withthe, the person of the franchise
and everything, what taxbenefits is there with
purchasing a franchise?
Cause I'm huge, I'm a.
I'm a huge person when it comesto taxes?
Speaker 2 (13:34):
Yeah Well, look, um, you're.
You're in the right place whenit comes to franchising, because
what I can tell you is and I'llgive you an example I believe
that there's black and white inthe county Right and there's
gray, if you go, if you go, ifyou have I live in Houston Right
.
If you have a legitimate reasonto have Texans season tickets
(13:56):
and you're taking clients there,that's a legitimate business
expense, right.
If you have a cell phone thatyou're using for business and
maybe every once in a whilethere's personal calls, that's a
legitimate business expense,right.
If you're using a portion ofyour house for your office,
that's a legitimate businessexpense.
So I'm not a CPA, but there aremany different things that you
(14:18):
could potentially use from a taxpoint of view for businesses
and for real estate.
That's an advantage of being abusiness owner.
No question about it.
Speaker 1 (14:27):
Yes, that's great.
That's great.
Yeah, I was thinking that maybethere was more to that, but
you're spot on with everythingyou say, because that's exactly
what I was thinking also.
So if anyone wants to get intouch with you, what's the best
way possible?
Speaker 2 (14:44):
So two ways.
First one is just go to mywebsite, franchiseadamcom, and
it's a 15 minute link.
Go ahead and just kind of bookthat link, and if I don't think
you're a good fit forfranchising, I promise to let
you know.
Book that link, and if I don'tthink you're a good fit for
franchising, I promise to letyou know.
Alternatively, if you want togo to FranchiseCoachnet, it has
(15:06):
more information about peoplethat have gone through my
process and it's also a placewhere you can potentially book a
15-minute chat.
Speaker 1 (15:12):
Okay, great, great.
So, world, this is Adam Goldman.
He deals with buying.
If you want to buy a franchise,he's definitely the man to go
to.
I just want everybody to knowand I will put down all the
resources and everything for ifanyone gets going to get in
touch with Adam and please,please, like, subscribe to
(15:33):
Professor Real Estate Investingat dot com If you want to book
on to be on the podcast.
Adam, this is an honor and apleasure because I didn't know
anything about franchise and howit was structured.
I would definitely get yourinformation on the podcast and
everything that's needed forpeople to come to you and,
rather than that, it's an honorand a pleasure having you on the
(15:54):
podcast.
I know we've been having ourhiccups back and forth, but we
finally got on it and I justwant to let the world know what
Adam does.
Speaker 2 (16:03):
Thank you so much, Tony.
It's been my pleasure to be onthe show.
Speaker 1 (16:06):
Thank you, thank you so much and, yeah, I'll get
everything out there.
And everybody have a blessedday.
Welcome everybody to the Professionalist Real Estate
Investing Podcast.
I'm with Adam Goldman.
How are you doing, adam, today?
Speaker 2 (00:09):
Doing great, Tony.
How are you today?
Speaker 1 (00:11):
I'm doing great.
Great the world out there, adam.
He is a franchise consultant,an entrepreneur with a track
record of helping people achievefinancial freedom through smart
business ownership.
Adam, how did you get into thisfield right here?
How did you start off?
Speaker 2 (00:26):
So, look, I kind of became a franchise coach by
accident.
I started out in thefranchising world in 2010, after
the last great recession.
I didn't know what I wanted todo next.
I had all these different realestate investments that were.
The opportunities were kind ofdrying up.
It was a situation whereprivate equity was getting into
(00:49):
the single family residencemarket and I talked to a friend
who had a friend who was in thefranchising world and she gave
me a few different options and Idecided to invest in Vanguard
Cleaning, which was an officecleaning master franchise, owned
that business for about eightand a half years and was able to
sell that business and I kindof stumbled into franchise
(01:12):
coaching, meaning I'm in here tokind of make matches between
franchise brands that arelooking for franchisees and
franchisees that are looking forgreat investments, and so
that's my role.
I'm kind of I'm like eHarmonyor Matchcom for the franchising
world.
Speaker 1 (01:29):
Ok that's great, that's great.
And then 2010.
So, yeah, you, you startedright after the housing market
went down and everything.
And then from there, that'swhen you started.
Okay, how do you feel, likeright now, with financial wise
like this is a general question,I ask especially with the
(01:52):
change of leadership, with ourgovernment and everything, how
do you think it's going to do inthe sector of real estate
investing, financial market?
Speaker 2 (02:01):
So I think there's a lot of uncertainty in the market
about what's happening right.
We keep on hearing differentthings.
We hear that unemployment'sdown, but I talk to people that
talk about how hard it is tofind jobs, especially good jobs.
We talk about how great theeconomy is doing right, but you
also hear kind of mixed messages.
Look, I would say that not allof my placements are real estate
(02:26):
related.
When it comes to franchiseinvesting, franchise investors
Some are brick and mortarfranchises, some are non-brick
and mortar I think that theoutlook is very unclear.
I definitely think that thecurrent administration is going
to stimulate the economy.
For sure.
That means that there will bedemand, but it's still to be
(02:47):
determined if we can actually goahead and tame inflation.
I wish I had a crystal ball.
I don't know where we're going.
Yeah.
Speaker 1 (02:55):
Yeah, that's true.
I don't know where it's atright now.
I know, like, with the interestrate where it is, it's going to
go down a little bit, but it'snot going to be like it was.
When COVID was around.
I said that that was just agenerational time period, right
there, with the interest rate,the way it was.
Speaker 2 (03:11):
I'm very grateful that I was able to buy my house
and get a two and a half percentjumbo mortgage.
But the disadvantage of that,Tony, is that I'm not.
I'm never going to be able tosell my house and to find
another house with that samerate in my lifetime.
I think I'm not.
I'm never going to be able tosell my house and to find
another house with that samerate in my lifetime.
I think I'm kind of stuck in myhouse.
Speaker 1 (03:29):
Wow, that is true.
That's true.
The lowest I've ever seensomeone in that time period is
they got a one point.
Nine, nine oh my gosh.
That'll never, ever happenagain.
Speaker 2 (03:39):
No, I never say never , but I don't see that happening
anytime soon.
No, no, no, no.
Speaker 1 (03:43):
I never say never, but I don't see that happening
anytime soon.
No, no, no, no.
Speaker 2 (03:53):
What type of actionable strategies do you use
, with you being a franchisecoach?
So, look, my role is to kind ofmake this perfect match and I
have a personalized approach.
And look, people always ask me,even at like cocktail parties.
Speaker 1 (04:02):
hey, adam what's the hottest?
Speaker 2 (04:03):
brand out there.
Which three brands would yourecognize for me or would you
recommend to me?
And that's really it's hard forme to, before I know people, to
kind of give them my top three.
And so what I do is first I getto know them, I send out a
survey that takes five to 10minutes and then, once I got
that survey back, I go ahead andspeak to them and anyone else
(04:24):
involved in the decision andkind of get to know them better,
like a matchmaking type thing,where I find out what they're
looking for, why they're lookingto invest in franchises, and
then I see which territories areavailable.
I work with brands that are in75 different industries that are
pre-screened.
Speaker 1 (04:40):
And then I make the.
Speaker 2 (04:41):
I'm trying to narrow it down to three brands that are
a good match from a just from acharacteristic point of view
for my candidates okay, thatbrings a good question, because
there's a lot out there talkabout branding all the time.
Speaker 1 (04:54):
Um, what makes a good , solid brand?
Because there's a lot of peoplethat they view like, oh, it's
the logo, oh, it's it's the, thepurpose of the company.
Um, is there, like alldifferent types, little
equations that make a brandsolid?
Speaker 2 (05:12):
look, I'm so glad you brought that up, because um
brand is one of the pieces forfranchising, right?
It's the system as well thatyou're buying, and everyone's
heard of crumble cookie ororange theory, but in reality,
if you're one of the majormarkets in the United States,
it's probably been sold outalready, right?
So the system, in my opinion,is more important than the brand
(05:33):
.
Chipotle was an emerging brandwhen, when McDonald's bought the
franchise.
Right, and all of a sudden, ifyou're a Chipotle franchisee,
you have McDonald's managementteam and get the Chipotle brand,
which at that time wasn't avery powerful brand but became
more powerful.
So to answer your question aboutbrands in general, I mean what
(05:55):
makes a strong brand issomething that's recognizable
and has trust right.
It could be Sprint or T-Mobilethat everyone's heard of, or
Spirit Airlines Nothing againstSpirit, but it has a horrible
NPS score right.
So just because it'srecognizable doesn't mean it's
going to be trusted.
Speaker 1 (06:12):
OK, true, very true.
And what would?
If a person is coming in andthey're like you know what, I'm
going to start my own business,or you know I'll be an
entrepreneur or in that sector,right there, what?
How should they startdeveloping a brand?
Because I know a lot of peoplecome to me and they ask me that
(06:32):
question a lot, and they ask methat question a lot, and I tell
them I said, well, I told themthe way I did it, but my ways
might not be the best way forthem, because it's all different
ways, they're all differentoptions.
Speaker 2 (06:43):
So, look, I'm glad you're talking about branding
Right, Because one of the greatthings about your brand is like
McDonald's right or Chick-fil-A,whatever that might be.
You have to just kind ofemulate the brand and maybe make
(07:06):
tweaks to it.
So the great thing aboutfranchising is you're not
creating it from scratch becauseyou're right, it's hard to
create a brand from scratch,right and look.
A brand isn't only a logo, butit's also a feeling right when
people go into a specific theyhave a specific feeling about
Southwest Airlines.
Speaker 1 (07:24):
That's why.
Speaker 2 (07:24):
I'm so sad about what's happening there this week
.
I think it's one.
When I was at business school,we learned about Southwest and
just how amazing that brand is.
It's almost an emotionalattachment to it and the private
equity group that decided totake over Southwest is making
all these changes is reallygutting the company.
There's a reason why thevaluation of Southwest was so
(07:45):
much higher than all its peersbecause of their culture and the
brand people, Wall Street waswilling to give it a higher
valuation up until this week.
It's really sad.
Speaker 1 (07:57):
I was looking at that too, because I'm always looking
at, listening to a lot of news,especially when it comes to
business.
Speaker 2 (08:04):
Aren't they laying?
Speaker 1 (08:04):
off people.
This is like the first time inmany years that they're laying
off people.
Speaker 2 (08:08):
First time ever to lay off people.
They're laying off 15% of theirworkforce and, by the way, no
more feeding.
That is by section or by letter.
Right, it's going to beassigned seating on Southwest.
Speaker 1 (08:21):
Oh, it's going to be assigned seating now.
Yeah, oh wow.
That's a huge change, BecauseSouthwest you just go on board
and first come, first serve.
That's why I always loved it.
Speaker 2 (08:32):
Yeah, me too.
It's coming next year andthey're taking what made it
different at the core of thebrand, or the core of the
company, the essence of thecompany and just kind of the
differentiator, and getting ridof that and look, I mean a brand
(08:57):
is you have like this, thisvision of what it what it might
be.
Coca-cola spends billions ofdollars or millions of dollars
to make you think that caramelflavored water is somehow
refreshing.
Speaker 1 (09:10):
Yeah, exactly, or whatever it might be, it's just
it's, it's, it's just theessence of the business be it,
just it's it's, it's just theessence of the business.
Yeah, why is it?
Do you think that a lot ofcompanies I don't know where
it's like maybe third party, whydo they, if it isn't broke,
don't fix it?
Why do you feel that a lot ofthem change, like from their
solid background to somethingdifferent?
(09:31):
It's like, is it the sign ofthe times, or they want to
experiment or are they bored?
Frankly, I think a lot.
Speaker 2 (09:40):
it's greed, right.
If you look at a company likeJaguar, right, jaguar had the
most amazing iconic brand.
You have this Puma, whatever itis, or Jaguar that's on the
front of the car and it's justan amazing brand.
And supposedly they had somesort of management team come in
or some sort of ad agency andthey came up with something that
was just unrecognizable anymore, uh, for the, for their car.
(10:02):
So I have no idea why peoplechange and mess with it.
Speaker 1 (10:06):
you're right, if it's , if it's not, broke, don't fix
it yeah, because it's a like asolid foundation, like, look at,
uh, I'm a huge, I weareverything.
Basically nike, like n Nike'salways like, just do it.
Like just that model itself, Imean, just that simple model is
always been the way it is.
And like what else?
(10:26):
Let me think, whatever.
Like KFC they changed, theychanged.
It was Kentucky Fried Chicken,they changed the KFC, and then
they changed a little bit there.
They it was Kentucky FriedChicken, they changed the KFC,
and then they changed a littlebit there.
And you're right, when it comesto branding, it's, it's it's
different for everyone.
It's definitely different,especially with these companies
(10:48):
too, and I find a lot of itnowadays they're changing little
, they're tweaking a little bitthere, and I'm just like if it's
there, don't.
If it's there, don't, fix it,because that's how people know
it.
Yeah and again that's one of thebig advantages of investing in
a franchise business that youdon't have to create this from
scratch yes, so when somebodylook, so someone comes to you,
(11:09):
adam, and they want to invest ina franchise or or buy a
franchise, what, what's thesteps do they need to take?
So they, they're coming to you,they're like, adam, I want to
get into this franchise or buythis franchise, or be part of
this franchise.
What's the first step that theyneed to do when they come to
you?
Speaker 2 (11:28):
Got it.
So first they have to book acall, right?
I mentioned before aboutfilling out surveys and getting
people involved in that process,right, but they just have to
kind of make a call and ifsomeone's not a fit, I promise
to let them know and look.
What I would say is it's a biginvestment.
It's one of the biggest thingspeople invest money in besides
their house.
So it's a six-figure investmentor more.
(11:51):
There is financing available,but they really have to
understand what their why is,because people that don't really
have a strong reason to investin a franchise aren't probably
you're not going to invest inone that's true, that's true,
and I always said, yeah, youneed to know your why, what's
your purpose behind, behind yourdecision right there.
Speaker 1 (12:09):
And see, it just came slipped out of my mind.
Um, when it comes to the, thefranchises, because everything
is structured, um, oh man, Ijust thought I just it just
slipped out of my mind.
That's okay.
Uh, when it comes, when itcomes to the franchising part
and everything, and, like I said, you need to know your why.
Um, like, like, do you give,like, an evaluation?
(12:34):
You tell them what theevaluation of the franchise,
whatever they're, which one theywant to be, whatever, whichever
one they want to purchase, isthere like a grade scale?
Speaker 2 (12:43):
So such a great question.
So my goal, I'm trying to giveA plus right for all three of
these brands because I havebrands that are pre-screened in
75 industries that are in myportfolio.
But an A plus brand, right,isn't necessarily an A plus
match for everyone, right?
So I'm trying to make thesematches just like if you're on
Matchcom, your spouse or myspouse might not be the perfect
(13:06):
match for someone else, right?
So it's really digging in andfinding out what that, what
they're looking for, and thenreally finding that right fit OK
.
Speaker 1 (13:17):
Yes, ok, and then I remember it was.
I now remember now what I wasgoing to say.
When they're purchasing withthe, the person of the franchise
and everything, what taxbenefits is there with
purchasing a franchise?
Cause I'm huge, I'm a.
I'm a huge person when it comesto taxes?
Speaker 2 (13:34):
Yeah Well, look, um, you're.
You're in the right place whenit comes to franchising, because
what I can tell you is and I'llgive you an example I believe
that there's black and white inthe county Right and there's
gray, if you go, if you go, ifyou have I live in Houston Right
.
If you have a legitimate reasonto have Texans season tickets
(13:56):
and you're taking clients there,that's a legitimate business
expense, right.
If you have a cell phone thatyou're using for business and
maybe every once in a whilethere's personal calls, that's a
legitimate business expense,right.
If you're using a portion ofyour house for your office,
that's a legitimate businessexpense.
So I'm not a CPA, but there aremany different things that you
(14:18):
could potentially use from a taxpoint of view for businesses
and for real estate.
That's an advantage of being abusiness owner.
No question about it.
Speaker 1 (14:27):
Yes, that's great.
That's great.
Yeah, I was thinking that maybethere was more to that, but
you're spot on with everythingyou say, because that's exactly
what I was thinking also.
So if anyone wants to get intouch with you, what's the best
way possible?
Speaker 2 (14:44):
So two ways.
First one is just go to mywebsite, franchiseadamcom, and
it's a 15 minute link.
Go ahead and just kind of bookthat link, and if I don't think
you're a good fit forfranchising, I promise to let
you know.
Book that link, and if I don'tthink you're a good fit for
franchising, I promise to letyou know.
Alternatively, if you want togo to FranchiseCoachnet, it has
(15:06):
more information about peoplethat have gone through my
process and it's also a placewhere you can potentially book a
15-minute chat.
Speaker 1 (15:12):
Okay, great, great.
So, world, this is Adam Goldman.
He deals with buying.
If you want to buy a franchise,he's definitely the man to go
to.
I just want everybody to knowand I will put down all the
resources and everything for ifanyone gets going to get in
touch with Adam and please,please, like, subscribe to
(15:33):
Professor Real Estate Investingat dot com If you want to book
on to be on the podcast.
Adam, this is an honor and apleasure because I didn't know
anything about franchise and howit was structured.
I would definitely get yourinformation on the podcast and
everything that's needed forpeople to come to you and,
rather than that, it's an honorand a pleasure having you on the
(15:54):
podcast.
I know we've been having ourhiccups back and forth, but we
finally got on it and I justwant to let the world know what
Adam does.
Speaker 2 (16:03):
Thank you so much, Tony.
It's been my pleasure to be onthe show.
Speaker 1 (16:06):
Thank you, thank you so much and, yeah, I'll get
everything out there.
And everybody have a blessedday.
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