What role did marketing play in the initial success and expansion of the business?
Welcome back to another exciting episode of the Franchise My Business podcast. In today’s episode, we dive into the world of franchising and explore a unique franchise system that revolves around I.T. and process optimization. Our guest, Jayesh Kasim, co-founder of Valenta, shares his fascinating journey from being a project manager in Australia to starting his own franchise. Through innovative thinking and the need for efficient back-office operations, Jayesh and his team expanded their services to include virtual teams in India, ultimately leading to the birth of Valenta.
Our host, Kevin Oldham, deep dive into the challenges and triumphs Jayesh experienced along the way, highlighting the power of solving a problem that you are personally passionate about. As the conversation unfolds, we discover how Valenta evolved into a global franchise system, providing I.T. solutions and digital transformation services to clients worldwide. The discussion sheds light on the importance of staying close to clients, becoming their trusted strategic advisors, and building lasting relationships that go beyond mere business transactions.
Join us on this episode that unleashes innovation and explores the extraordinary!
HIGHLIGHTS:
Global Expansion Strategies: How We Secured Clients in Multiple Markets – Jayesh Kasim
“We knew we had a good range of services that other businesses could benefit from, right? So we started taking it to market in Australia. We landed our first few clients there and we started expanding. And the 1st market we expanded to internationally was the UK. Then we entered the US, Canada, New Zealand, Europe and so on. So for the first 5 years, we were securing clients ourselves in global markets. We expanded our service clients as well, right? We launched a consulting service 2 years into the business. And then a few years later, we launched digital transformation and the service clients kept expanding based on where we saw a need in the market. However, once after the 1st 5 years we were reassessing our situation, we knew securing clients was not hard, right? We were able to do it ourselves easily by traveling, seeing clients and securing them. But a lot of times, we just did trade shows in new markets and we landed our 1st few clients.”
Leveraging Diverse Experiences for Client Success – Jayesh Kasim
“It’s people that have that consultative sales experience, right? I think they’re the ones who make it work a 100%. That being said, we have people from diverse backgrounds. We have people with a consultative sales experience. For example, we have a doctor in the business as well, but he quite understands how our services could benefit medical professionals and medical practices, right? And he’s built a really good business just based off, that experience. We have people with audit experience, that have joined us. So It’s a mixed bag, but I think the common theme across is they’re really good communicators. They have good business acumen and they really care about Their clients, right? Which is trying to understand the problem, their goals and objectives, and helping them get there using our services.”
Connect and learn more about Jayesh Kasim by visiting his socials below:
Welcome back to another episode of the Franchise My Business podcast, hosted by Kevin Oldham.
What are some potential risks of obtaining short-term loans for franchise operations? How do franchisors sometimes assist franchisees with financing?
Today, we’re discussing a topic that every franchise owner needs to consider: funding your franchise. In this episode, we’ll explore different options for financing your franchise, whether it’s through self-funding, securing a loan from a bank, or seeking investment from friends, family, or even holding companies. We’ll also dive into the specific challenges and opportunities that arise when funding a new franchise as a potential franchisee. So if you’re interested in starting your own business through franchising, this episode is a must-listen!
Let’s dive into the world of funding your franchise.
HIGHLIGHTS:
Discovering financing options for your business success – Kevin Oldham
“When we’re talking about funding your franchise, there is a whole bunch of ways that you can do it. When I say fund your franchise, basically, I’m saying fund your new business. Because the franchisor is already in business. The franchisor already has their prototype rocking. Chances are they’ve already got, like, a proven awesome business. And they’re just looking at adding another business on top of that to support the expansion via franchising. And a lot of those folks We’ll make that decision well ahead of time to figure out the financing and typically fund it from their existing operation”
The Freedom of Self-Funding: Making Business Decisions at Your Own Pace – Kevin OIdham
“I would look at the self funding mechanism even if it means go slower. That’s what we’ve done with our suite of smoothie shops. We really enjoy it. We enjoy having control. We enjoy being able to do the things that we wanna do on a daily basis and move at our own pace without that pressure to grow to basically pay back the invested capital in the business. Because as soon as you take on capital, whether it is an investment, if it’s investment, they’re gonna want that capital back plus more. If it’s bank loan, then you’re gonna have some sort of fixed term. Chances are you will not have a fixed interest rate. So it’s another thing you’d need to take into account is that a lot of these interest rates may be variable, particularly if you do something like a home equity line of credit to buy a business.”
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How important do you think language immersion is in early education for children?
Welcome back to another exciting episode of the Franchise My Business podcast. Today, we have a special guest who will take us on a journey to a unique business that many may not be familiar with. We’ll be exploring the world of Spanish ImmersionEarly Education with Kristen Denzer, the founder and CEO of Tierra Encantada.
Kristen has received numerous recognition for her business acumen and leadership, making her an exceptional guest to learn from! We’ll also explore the challenges of meeting the high demand for childcare and the unexpected path that led to Tierra Encantada becoming a franchise. Get ready to be amazed by the innovative approach taken by Tierra Encantada in providing language immersion and high-quality meals to children from infancy to pre-K. Discover how they expand young palates and successfully introduce children to new and nutritious foods. Let’s dive in!
HIGHLIGHTS
Learning Through Language: How Tierra Encantada’s Spanish Immersion Program Shapes Young Minds – Kristen Denzer
“Tierra Encantada is the leader in Spanish Immersion Early Education. And so what that means is child care, but with education for kids six weeks through 6 years, infants all the way through pre k. And we have a lot of different unique differentiators. The obvious is that we’re language immersion. A lot of families get a little confused what that means. We have a curriculum that incorporates, like, STEM, SEL, so social emotional learning. But it’s taught through the vehicle or the language of Spanish. And so the kids are taught just like kids learn at home. When you’re at home with your kids, you’re not teaching them how to speak English as they are babies, you’re just talking to them and so that’s how they learn in our program.”
Leveraging Real Estate to Grow Wealth in the Franchise Industry – Kevin Oldham
“I’d love to get somebody on here who is at that model where they buy the real estate, and then they lease it back to the franchisee, kinda McDonald’s model. But I think that’s one of the things that a lot of prospective franchisors don’t think about. And it’s another way to build weaBooXkeepinglth as well as cash flow stream and just enterprise value in the organization is just structuring your lease so that you have an option to purchase. And it makes all the sense in the world because I think that’s probably one of the core things that you can do as a franchise or that a lot of people don’t really think about. And, that’s smart.”
Connect and learn more about Kristen Denzer by visiting her socials below:
Do you know how royalties play a vital role as the dominant cash flow stream for franchise organizations? And are you a current or aspiring franchisee or simply curious about the financial side of franchising? This episode is for you!
Welcome back to another exciting episode of the Franchise My Business podcast hosted by Kevin Oldham. In today’s episode, we will be exploring the fascinating world of franchising and the complex details of generating income within this business model.
Kevin focuses on the financial aspects of franchising, specifically discussing initial franchise fees, royalties, marketing funds, and rebates. Kevin shares his wealth of knowledge and experience, analyzing how these income streams should be approached and how they contribute to the success of both the franchisor and the franchisee.
Tune in and gain valuable insights into maximizing your franchise’s potential, making informed financial decisions, and achieving long-term success. Let’s dive in!
HIGHLIGHTS
Cracking the Code: Understanding the True Value of Franchise Fees – Kevin Oldham
“Initial franchise fees. The way that I think about them is it’s a value exchange from the franchise to the franchisor. First of all, showing their commitment to investing in the business. Nothing in life is free. But more importantly, it’s a value exchange, so that the franchisor can deploy the resources necessary to get that franchisee up and running. So those maybe things like resource allocation internally, time, people, all sorts of things. I have always been mentored and have then mentored others to look at this as a cost recovery mechanism. It should not be something that is a main source of income for the organization.I believe and will probably go to my grave believing that it should be a cost recovery mechanism to help that new franchisee get up and running.”
Navigating the Role of Royalties in Franchise Success – Kevin Oldham
“Royalties, this is probably the one that makes the most sense for you to focus on. This is basically the dominant cash flow stream in most franchise organizations, if not all. You’ve got to look at what makes the most sense for you. Also, what makes the most sense for the business model. This is where it’s super important to get dialed in on your prototypes and whatnot to see. Hey, if I were to back out a 5 to 7% or whatever percentage royalty you’re going to be charging, if I were to back this out, does this business model still thrive on its own? Can it still be profitable for an owner operator or an absentee operator? And do the math. Again, look at what the market is doing, not that you have to follow what they do, but you can use it as a way that if you’re Flying blind and you have no idea what royalties should be in your industry. It’s a good way to go and vet them and determine whether to plug them into your model”
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Welcome back to another exciting episode of the Franchise My Business podcast, hosted by Kevin Oldham. In this episode, we dive deep into the core of business – MONEY. Many entrepreneurs struggle with tracking their finances, but we have a solution! Today, we have a special guest, Max Emma, the CEO and Chief Bookkeeping Officer at BooXkeeping Corp, a franchise that simplifies the accounting function in businesses. Join us as we explore Max’s background, his journey as an entrepreneur, and how he navigated through the challenges of starting a franchise during the pandemic.
But Max’s story doesn’t end there. He shares how the idea for Bookkeeping came to fruition, and how it has become a recession-resistant franchise, providing businesses with essential financial support. Despite facing obstacles like the pandemic, Max’s resilience shines through as he shares how he navigated the challenging times and adapted his business model.
So buckle up and get ready to be inspired by Max’s entrepreneurial journey and his passion for helping business owners thrive.
HIGHLIGHTS
Ensuring a Solid Relationship for Long-Term Success – Max Emma
“The way we do it when we bring somebody as a franchisee, they’re becoming part of the family. It’s almost like a marriage of some sort, and so we are dating 1st before we actually go into the official relationship because it’s not even a partnership. For me, it’s more than that because you’re stuck, quote, unquote, with this person for 10 years for the life of your franchise agreement. The only desk can take your part. But the thing is, if we’re really talking to them and trying to find out, are we the same in the culture? Do we have the same goals? Because otherwise, it’s just not gonna work in the long term. So what’s the point to even start?”
Building a Strong Relationship with First Franchisees – Kevin Oldham
“For somebody who may be thinking about franchising, it is a really smart way to go with your 1st location. Have somebody who, first of all, knows they’re the first one. Obviously, they’re gonna know the first one, but have that good relationship with them. We’re going through this process right now with another system, and it is really cool to see these 1st people getting closer and closer to opening. I think they’ll open in the next, you know, 30, 40 days, and we’ve learned a lot. The thing is you really are doing it in partnership with those people. As many times as you think about your 1st franchisee and you think that you’ve thought of every single thing that they will need. Chances are once you really put somebody on your platform, you’re gonna find a little bit of a gap, and you’re oh, we didn’t think about that. So we get to go build it for that person. And having somebody that will be patient with you and go through that feedback loop with you and be a true team member is super important.”
Connect and learn more about Max Emma by visiting his socials below:
