Is A Franchise Model Right For You?
Are you considering purchasing a franchise? Many people think they’re automatically the key to success, but it’s not always that easy.
In this episode of More Clients, Less Effort, Tim chats with franchise consultant Rick Morgin about his career pivot from Corporate America to helping others achieve business ownership through franchising.
Rick’s story offers valuable lessons in resilience, strategy, and entrepreneurial spirit.
Whether you’re considering becoming a franchisee, debating the startup route, or looking to franchise your own business, this conversation will give you insights and considerations to decide the best route for you.
WHAT YOU’LL DISCOVER IN THIS EPISODE:
- Meet Rick Morgin (00:02)
- Rick’s entry into franchising (01:12)
- The leap from corporate to entrepreneurship (02:55)
- Franchises vs. startups (06:43)
- The myth of guaranteed success in franchising (08:08)
- Red flags and must-haves when buying a franchise (10:27)
- Generating leads on LinkedIn through strategic campaigns (15:28)
- Quick-fire questions with Rick (25:09)
Quotes
“The thing about franchising is that — and I think it’s certainly a myth and I have to overcome that — I’m going to become a franchise owner, it’s a proven process, I have automatic success. No, you gotta work it. You have the tools and the processes to create your success, but you have to execute.” – Rick Morgin
“If you’re looking to buy into a franchise system, the cues that you’re looking for are responsiveness and transparency.” – Rick Morgin
“If people are looking at your profile, that’s an indication that they’re interested in potentially who you are and what you do. And that’s the opportunity to start that conversation.” – Tim Hyde
Resources
The Great American Franchise Expo
Get in touch with RICK MORGIN
Website: https://www.thefranchiseconsultingcompany.com/
LinkedIn: https://www.linkedin.com/in/richardmorgin/
Facebook: https://www.facebook.com/richard.morgin/
Instagram: https://www.instagram.com/rickmorgin/
YouTube: https://www.youtube.com/channel/UCVDvsgclIl3LRk3hU3yHg2w
