Welcome back to another episode of the Franchise My Business podcast where we explore different facets of franchising. In today’s episode, we dive into the world of holding companies and investigate how they are transforming the franchising landscape.
Our host, Kevin Oldham, shares his insightful experiences working within a holding company and sheds light on the remarkable benefits they offer to a portfolio of franchise brands. From shared services and marketing strategies to streamlined operations and efficiency, Kevin reveals the hidden perks that make holding companies a force to be reckoned with in the franchising world.
Drawing from his previous involvement in real estate and auctions, Kevin offers examples of successful holding companies such as United Franchise Group and Wellbiz Brands. He emphasizes the advantages of having a centralized support center and how franchisees can thrive by expanding their businesses within the same partner organization.
Whether you’re a franchisor looking to enhance your brand or a prospective franchisee seeking a multi-brand opportunity, this episode will provide valuable insights into the holding companies in the franchise industry!
Let’s dive in and explore the world of franchise expansion through the lens of holding companies.
HIGHLIGHTS
From Single Brand Success to Multi-brand Dominance: The Franchisee’s Path to Expansion – Kevin Oldham
“As a franchisor, if you have one of these businesses, let’s say you’ve got one brand that you start with and then you spin up another brand, most likely people that are gonna buy that other franchise brand or your initial franchisees for your other brands, your existing franchisees. I can tell you that, like, definitively. We see that play out over and over again. Because they already believe in the management team. They already have a relationship. And if I’m looking to expand my services, and maybe it’s even something that’s complimentary, right? I can sell the same thing to my existing customers. It’s just like a different type of service, but it’s something else that they need. To me, that’s like a super attractive value prop, not only for the franchisor because you probably know who the first people are.They’re gonna adopt your new brand, but also for the franchisee because you already have, like, your local geography nailed down with your brand 1, and then you could go add brand 2 for portfolio. And, to me, there’s just so much serendipity involved in it.”
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Welcome back to another episode of the Franchise My Business podcast hosted by Kevin Oldham! In today’s episode, we have a special guest, Joe Delatte, the president of Home Clean Heroes. He takes us on a journey through the founding story of this organization and how they have become a successful franchise in the home cleaning industry. Join us as they explore the challenges and triumphs of building a brand from scratch, the importance of finding the right niche in the market, and the evolution of Home Clean Heroes’ mission to support first responders.
Get ready for an inspiring and informative discussion on franchising, entrepreneurship, and the power of giving back.
HIGHLIGHTS
Fostering Lasting Relationships in Business: The Key to Sustainable Growth and Success
So when you get very close to a company that serves you or there are people, first of all, it’s a relationship business. I tell all my franchisees that meet the team day. This is a relationship business. Get ready to get into a relationship with your customers, and you have to treat them like you’re in a relationship with them, or they won’t be your customers. We see money else’s customers. But once you establish that relationship, they don’t wanna lose you. It’s not that you have to worry about losing them. They don’t wanna lose you.They’ll give you some allowance. It’s not whether you’ll be disappointed. You will. It’s how you recover from when you do disappoint. It’s just like any relationship. Think about your business-like relationship, and you’re gonna be able to grow it and be successful at it. – Joe Delatte
The Power of Recurring Revenue in Franchise Businesses
One of the things I just picked up on, all your businesses have recurring revenue, which is awesome. That makes it easier to sell franchises. It makes it more fun to manage a franchise organization, like, recurring revenue. I I got on this soapbox about recurring revenue, and we actually wrote a book on it back in 2016 when I wrote a book, it’s an ebook called the Recurring Revenue Revolution. It used to be on our website. And I think now everybody’s getting a subscription to fatigue and all those things. Right? But back in 2016, they weren’t. Back in 2016, recurring revenue wasn’t as big of a thing as it is today. Like, now it’s everything’s recurring revenue. But the fact that you’ve got that as one of the main components, that is a huge thing to be able to attract and retain and also just make a super valuable franchise system. So that’s awesome. – Kevin Oldham
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Welcome back to another episode of the Franchise My Business podcast hosted by Kevin Oldham, where we explore the world of business and franchising. In today’s episode, we dive into the concept of identifying and addressing unmet needs in the market. This episode focuses on the importance of creating unique and differentiated offerings to fill gaps, ultimately leading to business success. Drawing from real-life examples, we explore how entrepreneurs have built thriving businesses by recognizing these gaps and providing innovative solutions.
So get ready to expand your entrepreneurial mindset and discover how you can find and fill those gaps in your own business endeavors. Stay tuned for an insightful discussion that will inspire you to think outside the box and create a business that truly stands out in the market. Let’s dive in!
HIGHLIGHTS
Uncovering the Unmet Needs: How to Identify and Fill the Gaps in Your Market
“Where’s the gap in your market? Meaning if you are building a business where there is a lack of service and or availability of a service or product in a market that you could construct something that would fill that gap? And in potentially create a category of one or a category of very few competitors and so what I found and what I think is really cool about some of the guests that we get to interview is the fact that some of them are filling gaps that frankly were something that they really needed in their market and it did not exist and so they were able to come in and create a business model and create a business that really didn’t compete with others It was its own business” – Kevin Oldham
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Welcome back to the Franchise My Business podcast, hosted by Kevin Oldham! In today’s episode, we dive deep into the fascinating world of franchise business. We’ll be discussing the unique challenges and potential rewards of owning a franchise, particularly for those with lower incomes. Join us as our guest speaker, Kevin Newton the President and Chief Executive Officer of Honest Abe Roofing, reflects on his own experiences, having bought and revitalized a struggling business during the pandemic.
Can someone earning less than $100,000 a year truly believe in the promise of earning $2.6 million the following year?
And even if they do, do they have the necessary skills and abilities to run a franchise that generates a whopping $10 million in revenue?
They share personal anecdotes about the hurdles they faced and the valuable lessons learned along the way. From handling employee issues to developing a winning strategy, our guest offers insights and advice, drawing from their own unique background in the roofing and construction industry.
HIGHLIGHTS
The Pride of Growing: Transforming Careers and Changing Family Trees – Kevin Newton
“I take a lot of pride, if you will let me use that word, in seeing people grow. And, like, I’ve seen we have a position called field manager in our group. As a unit per location, you’d have a field manager. Some people would call that name like a superintendent, and some contracting to realms and our foreman potentially. We call a field manager. I have, like, the guy in an entry level position for our group’s location. And we’ve got field managers who are now running locations and overseeing regions. So it’s exciting to see people who come in the positions are paying $50 – $60,000 a year, and they’re in the mid 6 figure income, you know, within 3 or 4 years. So it’s cool to see how you get a chance to change people’s trajectory. It may even be their family trees depending on their background.”
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Welcome back to another exciting episode of the Franchise My Business Podcast hosted by Kevin Oldham! In today’s episode, we dive deep into the world of mobile businesses and explore the advantages they offer compared to traditional brick-and-mortar establishments. We discuss the potential of taking your business on the road and expanding your reach beyond a hyperlocal market. From increased flexibility in site selection to lower cost structures and higher price points, we uncover the numerous benefits of adopting a mobile model. But it’s not all smooth sailing; there are challenges to consider, such as fluctuating customer demand due to climate variations.
However, with the shifting consumer mindset and the convenience factor driving demand, the future of mobile franchises looks promising. So, whether you’re looking to explore a new business venture or considering transforming your existing business into a mobile one, this episode is a must-listen. Let’s get started on this exciting journey into the world of mobile franchises!
HIGHLIGHTS
The Power of Mobility: Maximizing Geographic Reach and Cost Efficiency in Business – Kevin Odlham
“Mobile model, obviously, you can go to people. Challenges associated with that, like, your people have to know that you’re going to be at a certain place but it does give you a more varied geographic footprint that you can typically pull from. You just have to move that thing around. Also, cost, It’s just pretty amazing to be able to make that investment frankly into your asset. So you’re building, if you build a concession trailer or concession truck, or something along those lines, that’s your asset and you’re making improvements in that asset. You’re not making improvements in somebody else’s structure of their real estate, and then you’re gonna leave those investments just gone forever.”
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