Brand New Day, Same Ol’ Story

It’s been a long day.

You pick up your work bag from the backseat and walk slowly to the door, exhausted from another disenchanted day in the office. Over the jingle of the keys in the lock, you hear voices inside—your family bustling about, excited for you to open the door and spend time with them.

You’re tired. And you’re ready for something different. Something more. Something that allows you to invest your time in what and who you love. But where do you even begin?

Whether you’ve reached your limit in promotions, lost joy in your daily tasks, or carried an entrepreneurial itch for years—unsure what to do with it—we have a guide to help you discover what type of new business owner you’re equipped to become.

What are the 3 types of new business owners?

Typically, people think of new business owners in the Shark Tank category—the humans who hope to develop a unique, marketable product or service. While this encompasses a large majority of owners, there are two other areas you may be missing

There are 3 distinct ways to become your own boss, and we want to help you determine which, if any, is the best option for you. Are you ready to envision your future as a proprietor?

With the guide below, you can decide if you are most equipped to:

  1. Start a new business from scratch
  2. Take over someone else’s business
  3. Get your start as a franchise owner

What kind of New Business Owner are you?

There are key perks and downsides of each business option.

The Made-from-Scratch Approach

When you launch a new business from scratch, the sky’s the limit. You have ultimate freedom in decisions involving branding, hiring, promotions, business locations, target market, industry…pretty much every aspect of your new venture. But with ultimate freedom comes ultimate risk and a lot of work. Launching on your own means making decisions that haven’t been tested before, working without mentor support, and the hardest part: developing a sustainable product or service idea.

Characteristically, these individuals are true-blooded entrepreneurs like this guy who built a 7 figure biz on the side. These trailblazers like to figure everything out—from value proposition and market sweet spot to backend systems and the types of players you need to build a team.

The Handwritten Recipe

The business owning equivalent of a handwritten recipe is buying out someone else’s company. Although you sacrifice some freedom here since you inherit the branding and reputation of the previous owner, you also inherit pre-made systems, clients, and industry knowledge that might be the ticket to happy taste buds.

For individuals who have already owned a business and are interested in diversifying revenue (and have access to a large amount of capital), buying someone else’ company may be the preferred approach.

The Store-bought Mix

A franchise comprises all the pieces you’d find in a store-bought dessert mix. In this approach, you surrender a multitude of decisions in exchange for a known brand name, tested processes, upper level support, and the inner makings of a very successful business.

Franchising seems to be a great fit for “corporate refugees.” These people typically have strong business acumen and ambition. They are interested in monetizing a business that’s already proven successful.

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On your marks, get set, BAKE

If you answered mostly a’s, you might need to launch your own business from scratch. For more details on getting into the entrepreneurial mindset and getting your business off the ground, listen to our interview with Laura Roeder, founder of meetedgar.com.

If you answered mostly b’s, you may want to look at purchasing a business that’s already in session. See the pros and cons of buying someone else’s business in our interview with Ace Chapman, an entrepreneur who made his first million by the time he was 21. Over the years, he’s bought and sold over 40 businesses.

If you answered mostly c’s, you could be fit to run a franchise. Listen to the podcast below for the essential tips for finding the right franchise. You’ll love hearing from my buddy, Dru, a franchise consultant who matches potential franchisees with the perfect franchise.

The Quick Guide to Finding Your Franchise Fit

The first step to finding franchisee success is finding a franchise that fits your budget, lifestyle, daily role, and revenue goals. Use the questions below to determine your non-negotiables and find your perfect franchise fit.

Step 1: Have an open mind.

Typically, when people hear the word franchise, their minds go to McDonald’s. While fast food chains are the most recognized franchises, there are plenty of options available in commercial cleaning, retail, tourism, personal fitness, property management, professional development…the list goes on and on.

It’s easy to think of what type of franchise you’d like from a consumer perspective. The challenge for potential business owners is to make decisions from an owner perspective. Take Advantaclean, for example. This water restoration and mold remediation business is anything but sexy, but when you understand how protected your business is during economic downturns, you may find yourself whistling a different tune. As long as people own homes, they will need your services—providing long-term viability for your business.

Step 2: Understand your why.

You have a blank canvas before you. Take time to determine your goals for your business. Do you want a business that can run without your presence, enabling you to travel and live from a beach six months a year? Are you in it for the money? Do you love the thrill of starting new businesses and plan to keep opening more and more? Knowing your why is essential for finding your fit.

Step 3: Think about your role in customer acquisition.

Are you an extrovert who feels comfortable operating as the face of the business? Many franchises require their owners to be out in the community, networking with other business owners to secure sales. If you’re an introvert, you probably wouldn’t enjoy this role, so you may want to look at the various options that provide inbound lead generation. Contrary to what you might believe, you don’t have to be a natural salesperson to operate a business successfully…if you select the right franchise.

Step 4: Determine your budget.

From the beginning, you’ll need to understand how much capital you have available. Decide how much you can personally invest and how much you’ll need from external sources.

Step 5: Decide how many employees you’d like to lead.

Think critically about your future goals. You need to know if you want to manage a large staff of employees or if you’re more comfortable with a tight-knit team.

Step 6: Calculate how many hours you can invest.

Some franchisees want to get their hands dirty in the day-to-day work, and others want the flexibility to pop in and out whenever they desire. You’ll need to know if you’re a hands-on owner or a delegating leader. If you limit the hours you’re needed in the franchise, you might even be able to build a second business with your free hours.

Once you’ve worked through these steps, you will be more equipped on your franchise search. For extra help from a franchise expert, schedule a 60-90 minute conversation with Dru Carpenito, Franchoice Consultant. A quick call with Dru will provide key insights, tips for finding capital, and experienced guidance in finding your franchise fit.

Transcript from Episode
Scott: Okay so what happens when you know that you want to run a business, and you know that’s one of your goals. However, you really are that interested in spending  all of the time to make all of the decisions to come up with every little thing about that business. You don’t want to have to reinvent the wheel, but you do want to be your own boss and you do want to be able to run something that is important and meaningful to you and helping people in a way that you want to well, what then. Well, it turns out that that’s not the case for every business, so we wanted to create an episode that helps you understand what types of businesses are right for that situation, what are, and if you’ve ever had the thought that you might want to own a business. If for your next change, your next transition and that’s a part of something that you want in your world, well, then I think you’re going to love this next guest.

Dru: For those that go on to be the happy and successful business owners and franchise owners that I’ve worked with, the easiest way for me to describe it is they end up crossing this chasm mentally. They just kind of have this thought that I’m not happy and what I’m doing and I feel like there could be more opportunity for me, but for whatever reason, I’m not finding it in the corporate world, maybe it’s politics, maybe it’s bureaucracy, maybe it’s the wrong fit, whatever right there’s a lot of moving part in the corporate world, to find a role that might help them thrive and tap into the potential that they feel is inside of them.

Scott: That’s true Carpenito, and I wanted to bring Dru on specifically because he has a really very unique job. He helps match people up with franchises that fit what they want fit they’re goals and fit their world and first of this all is a pretty cool job too, but it’s near and dear to my heart, to because part of the way that I learned to run businesses and learn to help other people run businesses, was I actually owned a franchise and when a lot of people think franchises, they think of, I don’t know the McDonald’s or Burger Kings of the world, but that’s not even what we’re talking about here there’s so many things that most people don’t even realize are out there, and I wanted to be able to invite Dru on with his really unique set of experiences to talk about what types of businesses are right, for different people with different goals.

Dru: But it was  completely accidental. What happen with me is my story is back in, I graduated from grad school with the master’s degree in industrial organizational psychology and it’s going to go  human resources and you kind of take the traditional corporate route and a start working for a great young companies right after grad school and just have this very charismatic entrepreneurial founder and CEO and gonna do great things in help the employees be the best employees they can be and all that good stuff right and then three months into my career I’m faced with a career change which they don’t really teach you about in grad school and undergrad right?

 

Scott: No, they dont!

 

Dru: So what happened was Jeff, the founder of the company decided take a shift in his expansion strategy and franchise his business model, so something you thought about for a long time this was just kind of overnight decision, I just happen to join the company right around the time that made the most sense for him to start this strategy. So,

Scott: Yeah!

Dru: What that meant was he started to sell off some of the company to existing business owners who are going to run the business model as a franchise and so that decrease the amount of people that were in the company and so the need for human resources decrease significantly so Jeff kind of said hey you can stick around for this franchising thing and be with the team and learned it. oryou know, we can find another role for you but don’t I just really see that much need for human resources based on the direction the company’s going. So I took a couple days thought about it. Did some researching on franchising because I had never really heard about it. You know I kind of thought, hey. It’s chick-fillet in  McDonald’s, I mean, I didn’t know anything about it and so I did some research and really started kind of peel back the onion a bit and was surprised by how much opportunity there actually is in franchising outside of the food space. And so that was my research and then Jeff candidly. He was a cool dude I mean. He was a good guy to work with, and he had that charisma and I said, hey I was young I didn’t have a family I said. I was let’s check this thing out and so then, that mark that started an eight-year run with AdvantaClean where I kind of became Jeff’s right hand man and I was totally over promoted, and he gave me way too much exposure and experience early in my career,

 

Scott:  Perfect.

 

Dru: But I was able to kind of run with it and figure it out and, and you know a lot of it was due to just kind of picking up some mentor right and just asking people for help who had done this successfully and anyways long story. Short. We short, we figured it out and were able to expand the company which the name of the company is AdvantaClean to a couple hundred locations throughout the US in eight years

 

Scott: Wow!

 

Dru: So through that eight year period I learned a ton but that is where I learned franchising

Scott: I mean into the beginning you know this is near and dear in to my heart because I actually in a lot of people realizes but part of way that I ended up learning so much from coaching to marketing, to jeez. I don’t know you name a business skill, and it really came from this experience. I owned a franchise and I was kind of the entry to my career I owned it actually  the part that may be a little bit different than most people is I owned it as the same time as I was going to school, but honestly everything that ended up coming afterwards came from that, and it was so much of an immersive type experience with a lot of the support and pieces that I just didn’t know anything about. It was really interesting way to get into my first business, so for you I’m curious what that experience was like as you are you started on the other hand You started on the company side of that. I guess that’s probably easiest way to call it, how do you think about that?

Dru: Yeah, absolutely I was on the corporate side of the company side, but what happened through that eight years and then  I went to work for another company that’s international work kind of doing a similar things just internationally. What happened was, it was a very entrepreneurial opportunity within the company, because it was  white space we just, we had to figure it all out. So, I kind of mention Jeff, gave me a lot of opportunity and I was able to figure a lot of it out with the help of team and everything. But what is ended happening is i ended up recruiting and helping playing a key role in helping a lot of the franchise owners that came on board to open an AdvantaClean around the country. I helped them get into the company I helped them to help train them. I would be out in the field working side by side, helping them to build their business and teaching them. So, I became an expert in starting AdvantaClean businesses which I help other people do, and it wasn’t me there was a whole team of people right, but just as it relates to my experience, that is where so much learning happened for me and I met so many great people from all walks of life most of which were corporate refugees, believe it or not.

 

Scott: Yeah.

 

Dru: Coming from the corporate war with no experience with anything remotely close to what AdvantaClean did. But you know we weren’t looking for people who wanted to be out cleaning stuff right. We want to people that were good business folks that could build a team of people can go out and develop relationships that fed the business to their local business. And then we did a lot of back-end things to provide a tremendous amount of support to help the franchise owners a lot of times on the back-end to run the business more efficiently than they could on their own. So I got I mean I literally helped a hundred people started AdvantaClean so I feel I like started a kind a of hundred of AdvantaClean to myself to a certain extent,

 

Scott: It feels like that.

 

Dru: Yeah,I learned so much from everybody, because everybody had a different story and everybody had different a path in life as to why they decided to make a career change and open up their own business and and how they how figured they out that opening a franchise number one was a fit and then number two AdvanClean was a fit. so it was a pretty cool experience that has helped me get to where I am today and that a lot of everything that I do when I work with folks individually here to help them figure out, which might be the best path for them. Entrepreneurially is based on all that experience of helping a hundred AdvantaClean franchisees open their own businesses and then I had the opportunity to go to work for an educational company that was worldwide and I got to help people around the world open businesses from Australia to the UK, Latin America to South Africa. I have never in my wall, I’m a guy from Wilmington Delaware, right.

 

Scott: Yeah.

 

Dru: And I never thought I’d be helping people start businesses around the world. So that’s the experience that I  rely on when I’m working with somebody to help them figure out if business ownership might be a good option for them to explore and a franchising might be a fit for them

Scott: We’ll, just knowing a little bit about your background too, I don’t think people realize like how much goes into it when you said earlier, like hey I felt like I helped start a you know, a hundred different franchises and that was just the beginning of your career. I have also worked on the company side of the franchise equation as well, and in some ways I think it’s actually, you ended up learning a whole bunch more because you’re seeing both sides of it because you’re right there boots on the ground, like helping them literally get started and feeling that side of it. But then you’re seeing all the other sites to across many different franchisees as well and many business owners that all the different reasons why they got into it and and everything else. So I would say that compared to if you literally did go own a hundred franchises even better set of experience having done both sides of that and I know, that sounds probably really weird, but here’s the question I wanted to ask you about that since you’ve been exposed to a lot of different people that get into business ownership get into entrepreneurship and are in kind of that beginning stages, where they may not have own something before. I’m curious, what are some of reasons, that you see most common for why people are interested in getting into that as well as who makes a great entrepreneur in some ways, especially from first time perspective?

 

Dru: It’s a great question and I think I believe that everybody has their own journey. In terms of the people that I’ve worked with on franchising and I’ve worked with a thousand people that have decided that opening up their own business was not a fit and so you know it’s not for everybody. But for those that go on to be the happy and successful business owners and franchise owners that I’ve worked with the easiest way for me to describe it is they end up crossing this chasm mentally from I believe that we’re groomed from a young age to believe that there is a traditional corporate career right you go to school. You get good grades. Go to college go get a job and sock away 10% in savings worked for forty years  and retire right. That’s kind of the traditional W2 path that we are groomed to and I was groomed too and I was I thought. I was going to go down that path. Until you know, I took the crossroad that I did which opened my eyes to a lot and t there is a different way and so but for folks who are find it to fit for them going to be happy and successful. They figure that out in their career, like they have this. They just kind of have this thought that you know I’m not happy and what I’m doing and I feel like there could be more opportunity for me, but for whatever reason, I’m not finding it in the corporate world, maybe it’s politics, maybe it’s bureaucracy. Maybe it’s the wrong fit, whatever right there’s just there’s a lot of moving parts and in the corporate world, to find a role that might help them thrive and tap into the potential that they feel is inside of them and then a lot of times. It’s completely accidental kind of like me like franchising, found me completely accidentally.

 

Scott: Yeah!

Dru: You know, maybe they hear a story once they kind of have this thought bouncing around in her head like there is there another way that I could go about my career and is business ownership, the past and a then lot of times it’s kind of a you know, word of mouth like thing, hey maybe you should check out franchising or hey I, had a buddy that that left and went on to invest in massage businesses and he doesn’t do massages. But he has you know he owns three of this and he works like 10 hours a week. People hear stories like that and then they go to the Internet to do some research. They might find me or whatever right and but a lot of times there’s a seed, that’s planted when they cross this mindset and when they cross this chasm mentally, where they kind of shift from the traditional kind of employee mindset and start to kind of get into this entrepreneurial mindset where they start to view the world and an opportunity in their careers a little bit differently, and it’s about to be connected resources to help them figure it all out and then ultimately, If they find something that’s a fit, then they kind of know it because they are in the right mindset. So it all boils down to mindset is, what I guess my point that I’m to trying make for those that don’t cross that chasm in their mind and do invest in their own business or do invest in a franchise which happens, those folks figure it out, probably not the best fit for them. I’ve seen that too.

 

Scott: That’s interesting. what’s  an example of kind a both side, Im curious.

Dru: Well, I just finished working with an individual. I’m in Charlotte, North, Carolina and he’s here in the Charlotte market with me,

Scott: Yeah.

Dru: Charlotte’s big banking town. So he’s been very successful banking executive. Throughout his career I mean on paper, you look at him and say holy moly, this guy has it made, but what he’s kind of started to get that itch and feel that lack of fulfillment, even though he was on paper wildly successful? So he got referred to me. We had a conversation, I remember the first time so you know talking about kind of what’s going on, and if you have a timeline in terms of the transition that you might be under, if you found a business that might be the fit for you, and he said it’s three years, I said, okay well, you know that’s a long time. Let me give you a couple things to think about and I was with his wife. It was the three of us him, his wife and me and I said, maybe you guys can talk a little bit more and what happened it prompted him to reach out to me was he had a former coworker who had left his role as a successful banking executive and invested in a multi-unit franchise opportunities so he was running multiple occasion.

Scott: Yeah.

Dru: And working about 10 to 20 hours a week, and so the guy was working with all that said, hey  that was kind of his enlightening moments today. Them there’s got to be maybe this is a different path from for major, maybe there’s definitely

Scott: There’s gotta be a better way.

 

Dru:  Yeah exactly  because what was happening was he was getting 5 am he was going to gym working out getting to the office it sit in traffic for an hour get in the at office 7:00-7:30 working a 12-hour day sitting in traffic  coming home to be with his family for an hour. Before you know, they had to get homework done and go to bed, and that was what was grinding on him and and that’s what was making it not worth him feel like. Maybe this isn’t worth it even though I’m getting paid a ton of money right.

Scott: Yeah!

Dru:  So half our first meeting, it’s a three year timeline next meeting we had, he had moved it up to a year. I say well what what happened, and he said well as I’ve, been thinking about this and doing more research and the more I go into the office and live my weekly life. The more I hate it and I just don’t want to keep doing it and so we started. you know kinda put together a plan on how to help him start really start to do some research and look at businesses. So he could kind you know, figure out that that year-long plan and then come you know within six months he had found a business quit his and job now he is happy, as can be owning franchise, so

Scott: That so funny, we see that that same curve that he went through or it’s like anything about this like three years in the future. What has a tendency to happen, and we see this, whether regardless whether somebody is, you know, wanting to pursue their own business or whether they are making another type of career change like they start to realize what’s possible in another situation, and then that creates additional discontent, because now they’re not only unhappy in their job, they realize that there’s only so much that’s in between them and what they really want to be doing so. That’s really interesting, in terms of, of course, he’s going to speed up the timeline and that’s awesome by the way. So what ended up happening there then?

 

Dru:  It was funny so he found a business made the investment and he kind of put a plan together to  transition out of his job, because you know when you invest in a franchise it’s a 30, 60, 90 day process to even find a franchise. Do the due diligence on it, which I can talk to you more about it, but then, after that right, there is a whole opening process that goes in the place too. That could be three not six nine months right, so you know a year can be pretty content can taken be pretty up quick in terms of how you want to do it the right way to give yourself a nice long runway, but he found the business made the investment went to tell his boss that he was leaving, as his boss was coming to tell him that he was getting like a two band promotion. So he gets face with this like life-changing promotion right I mean, it was even more money, but it was more travel it was more work and it was more of what he didn’t want to be doing.

 

Scott: Yeah!   

Dru: All the money in the world, just he would not have satisfied him because he had just mentally you know he cross the chasm. He was there. He had done the research to figure out and find another path that would enable him to be happier and also provide him  a heck of a lot of opportunity financially right, in terms of what he could build and control, so he gets this promotion off and he’s like Hey I need to tell you something I’m respectfully going to decline because I’m leaving and his boss just goes white, like what you’re turning this down and he did and I you know I hanged out with him all the time and he’s just happy, as can be right now and loving life, and it’s very cool to see, and you know to play a small part in that right That’s what I love doing, I love helping people, I love small business, I love entrepreneurship, I love helping people explore it because it’s fun I mean there’s so much out there. That I think a lot of people, you know don’t always realize, because you never really taught about it. Right we’re never really formally taught what entrepreneurship is and what it isn’t, and so you know for me just to help people learn more about it and to help them to be guide for them to figure it out for themselves. That’s what just makes me happy and excited and that’s why I do absolutely love it

Scott: That is awesome, and it raises a few questions for me that I think that you’re, especially qualified, uniquely qualified I must say in a lot of different ways. Just based your on experiences to be able to answer. So, let’s say four seconds we’ve got a lot of people that as they’re listening to this. We have many folks that are interested in owning their own thing, doing their own thing, having their own business, someday. A lot of them, don’t necessarily know what that could be or what that might be and there’s to be fair. There’s a lot of different routes that you can go. So we talked a little bit about franchising because that’s I mean that’s sort of your background is my background like that’s, that’s how I came to be and where I got the really cool opportunity to learn  a lot of the stuff that I have learned over the years. But, let’s evaluate a couple different ways that people could go into this, if they’re interested in doing their own thing, acquiring a business or starting a business in any of the variety of ways. What are some of those ways and can we kind tear of them apart for a second here and say, okay? what’s the pros and cons of each one of those who’s this good for who’s it not good for.

 

Dru: Absolutely. What it boils down to in my opinions, you have three options. You can start a business from scratch. Kind of like you’ve done very successfully, you can buy an existing business. You know business is somebody else’s, build who’s ready to exit for whatever reason and we’re number three, you can invest in a franchise. Going back to the first one, starting a business from scratch characteristically. This option has the highest upside for any individual. It also comes along with the highest risk. Because, as we know it, everyone Yep and I mean there’s no limits right to what you can build. The most you know, and people see the Mark Cuban’s. They see the Richard Branson’s right like, but that’s not I mean those guys are in a world all of them all into themselves. You know we’re talking about you know, building successful small to medium size businesses is what might almost everyday folks is kind of you know what they’re thinking about, but when you’re building a business from scratch, you know you are the one that has to figure it all out in terms of putting everything from around. You know from all the learning that goes into figuring out the value proposition and kind of what’s the sweet spot and what lands on people to layering in systems and software and technology and people on the back end to build a business to a point where it can continue to scale right, depending on kind of, I bet? You’re more qualified to talk about this option than I am, but for folks, who are, you know I call them kind of true-blooded entrepreneurs and that creative aspect, the build the you know, the build something from scratch idea just gets them excited and the opportunity is limitless, then those are folks that I. in my opinion, that start from scratch opportunity can really be a good fit, for you know just kind of those those trailblazers. Almost you know they got to have that mentality.

 

Scott: Add some color to that too, in terms of what you’re talking about just having been in a couple of different worlds, with a couple of different types of businesses and been the owner of those and interacted with lots of other people. too. What you said about, when you’re starting from scratch and you’ve got to establish all the systems and everything like that you’re. The first people that we brought on board for. We literally did not have a way to bring them on board. We had to board we had to go through and we had to spend many hours, creating a checklist to bring them onboard and thinking through all those things and that’s. I think a people don’t see when they’re looking at that start from scratch option.  I personally love that but I recognize that most people would not love that.

 

Dru: Yeah, you know I think it kind of goes back to mindset right kind of what people’s mindset is when they, if they cross that chasm right. So again, you know for  the people that love the idea of creating something from scratch. This option could be a really good fit for them.

 

Scott: Yeah!

Dru: The next option of buying an existing business, which somebody else has created, built successfully. A lot of people kind of consider this option, the safest right and have been the reason that people think it’s safest, because it has cash flow theoretically, however, it’s the most expensive option because you’re paying a premium for what somebody else built and it’s extremely complicated too. Do the due diligence to, in fact, to verify that the bit that the numbers and the cash flow or whatever it is that you’re paying the premium for is, in fact, accurate and I’m, not saying that business owners mislead people I’m just saying, in the world of small business you enter small business accounting and small business accounting in and of itself is of dedicated career for accountants and whatnot. but there are a significant amount of advantages that people have when they own a business in terms of using pre-tax money to legally pay for owner benefits and whatnot, that might not actual be true operating expenses in their mind, but as a potential buyer, you know somebody might classify certain things as an owner deducted from the business or took out of the P&L as operating expenses right. So how somebody values the business at the end of the day you the know values only what somebody else is else willing to pay for something right so a lot of times with existing business, there’s so much emotional equity that the owner has invested in the value of their business, whereas a buyer is going to be looking at it and saying hey. I’m looking at this very objectively, I don’t have any emotion tied into this thing and to go through the process and try to find a middle ground where people can agree on a value is a lot easier said than done and so you know when you’re looking at buying an existing business. You know having a team of people that can help you do the due diligence to, in fact, to verify the numbers and tie everything out to a tax return and all the stuff I mean a lot goes into. It, make sure that you aren’t overpaying for business and the business is in fact what has been presented to you so it’s my point in all this is It’s complicated and for a first-time business owner. Sometimes it can just. It might not be the best option for them because of all the complexities that go into it and the expense right with what some of the premium that you’d have to pay for somebody else’s cash flowing asset that they’ve built,

 

Scott: So this might be right for somebody who either is not a first-time owner and has specific interest in a particular business. It sounds like or the other thing I’m gleaning from. What you said is that somebody who either is willing to bring on a team of people to analyze the numbers within the business, because that’s incredibly important by the we way did in another episode, specifically on this one one option for business back probably about a year and half a ago. https://happentoyourcareer.com/166 will get you to that episode, with more information on on acquiring existing business like that, but it sounds like from your perspective. and I totally agree with this in terms of they must have either a pretty extensive background in understanding the financials, if you able to sort through the financials to really understand. If this is great investment and probably also understanding of that particular market as well. And if you don’t, you need to be willing, hire a team of people to help you understand that right,  Who else would this be good for?

 

Dru: Yeah I think you said it perfectly. You know a lot of times. existing businesses are bought by other business owners as a way to diversify or expand their business as well. So you know for entrepreneurs who interested in diversifying their revenue streams or income streams. You know a lot times of they will they will acquire businesses that way. You also need to have a lot of capital. There be prepared to invest a lot of capital because any good business that you want to buy, that you’re going to be paying a premium for, and you know it depends on the business and the size of it all, but but how you capitalize that ends up being a big equation. And then you know how you capitalize a to could also potentially eat into the cash flow through actually paying a premium for because you might have take a loan out for it. There’s a lot of factors in all this stuff. So that’s why you know I kind of for a first-time business owner I like franchising, and obviously you know I’m totally jaded, in my opinion, but it’s just my opinion right

 

Scott: Yeah. Absolutely!

Dru: So franchising is not a fit for everybody. You know for the for that. First category of people that want to start a business that have that true-blooded kind of you know trailblazing attitude mindset, franchising is not going to be a fit for that, because you know there are guidelines right. There are there is structure in place that people follow because there’s a common brand, so that’s why, I’m going to kind of say this and I don’t, it’s going to sound bad I don’t mean it to be it derogatory

Scott: Get it out there!

Dru: Franchising tends be to good a fit for corporate refugees .

 

Scott: Yeah.

Dru: You know, folks that have been in the corporate world and just become disenchanted with it, whether they whether there’s been an unexpected, layoff or they’re in a role and they’re just not fulfilled. But they have but they’ve accumulated. These skill sets right. They have strong business acumen and they have the want and the ambition to to apply their energy to their own business. That’s where franchising can come into play for folks because the value in franchising, okay so I’m going to say this I used to work franchising. Let me qualify that by saying high quality franchises, not all franchises are high-quality,

 

Scott: Just like any other industry of any kind whatsoever.

Dru: You got it, so I work with those high-quality franchises that have the characteristics of everything that I described in terms of developing a business model and, monetizing a business model that has been proven to be successful. Good franchises layer in a tremendous amount of training and support to help their franchisees implement their business model locally and the nice thing about franchising is everybody’s aligned in that chain from franchisors, they make their money off of royalties which are generated by the franchisees revenue. So as the franchise even more successful, the franchisor were more successful. So there’s an alignment there that’s created, where the franchisors and the good ones take the perspective of hey, we want to help these franchisees be as successful as they can so we’re going to put a tremendous amount of resources in place we’re going to develop cool technology that they can leverage to run their business as more efficiently and so for folks, who don’t want to have to figure all that stuff out and figure out a business model to monetize that can help them achieve what they want to achieve, that’s where franchising can come into play and be a good fit and most of the franchises, 99% of the franchises that I work with are not fast food businesses. They are businesses that are specifically looking for a franchise owner, that most of the time does not have any industry experience, but they have certain skill sets, and they have certain personalities and they have a desire for certain characteristics in business, which I helped them flesh out. So as you look into franchising, there’s different ownership models for different people depending on what they want in a business. That’s where franchising can be a good fit for those folks that just want to own their own business, but they don’t want to have to figure everything out because the good franchisors have already figured everything out.

 

Scott: I would add even one step further on that to just thinking about having gone through that experience as well. I found franchising to be a really really incredibly useful way to learn business as well and I don’t think most people are thinking about it that way honestly, but here’s what I mean by that I went to it I guess a little sooner than what maybe many people might since was I was doing this at the same time as I was finishing up my college degree and prior to that I really didn’t know a lot about franchising and how it worked and everything like that until I started checking into it realizing, wow I knew that I was interested in learning and getting a lot of business experience. I knew that it was valuable to me to have somebody else train me on that piece of it and I knew that I wanted to do something that actually mattered to me rather than going and getting coffee and donuts or something like that, and some lame internship and I recognize that, although most people are going  into looking at a business or looking at franchise, a little bit later in life than then College I still think some of those same things can apply, because if haven’t you run a business before like stuff, that is invaluable and I would much rather go through and have people that are actually running businesses teach me how to do that versus going try and acquire some of those skill sets through I don’t know what college degree or something else or by doing a lot of trial and error, and, oh my goodness, and later on when i wanted to run a scratch type business. It’s saved me all of that trial and error, and honestly, if I really think about it, I didn’t actually start from scratch, because I do a lot of of the stuff because I had worked with other franchises and seen it. I still have actually now that I think about it I still have some of checklist and stuff

 

Dru: Yeah!

Scott: I came from that.

 

Dru: Yeah I mean right, like me you learn, I mean they had figured out how to scale the painting business, right and the elements that they had. You know you were able to learn from and incorporate, because you know fundamentally there they’re similar just kind of a different business right. So I totally agree with what you said. The business acumen is not that important. What is the most important and successful? You know approaching franchising successfully is that motivation.

Scott: Yeah!


Dru: That you can’t teach

Scott: Agreed.

Dru: And that’s why people that’s why business franchise, because their business model lends itself to be more successful by somebody owning it locally, that has that motivation who’s going to run it more aggressively than a corporate employee would, and you know the core of the franchise owners are willing to give up the bottom prop. The bottom line, profits and in exchange for some top line sharing and those bottom line profits are what with the franchisees can benefit from so. The motivation and is the key factor that good franchise companies look for and what you know what the most successful franchisees bring to the table. Everything else can be taught no doubt about it. I remember there was there, was this one individual who worked with who I worked with at an AdvantaClean and I mean he was one of the most charismatic and talented people that I have ever met in my life

 

Scott: Yeah!

 

Dru: But for whatever reason he just had not caught the breaks in his corporate world, in his corporate career. I don’t know if, he just wasn’t playing the politics game, the way that he should have or whatever, but he never really rose above kind of like an entry level manager. Oh my God, how is this guy not the CEO of this company because he had so many ideas, and you can just tell he have this ooze with talent.


Scott: Yeah!

Dru: And so he quit his job and said, you know what I’m going to fire you guys and I’m gonna go my own business, and he got connected with with us and I mean this. This individual has gone on to build a business much larger than he ever thought was possible and  he was also able to become an ambassador for us corporately to help us train new franchise owners, and he found this opportunity and made the change in his career and made the commitment to open up his own business, and it was the best thing that you know that that’s happened to him in his career, and also it’s helped his provide a lot for his family as well and that’s an example i tell you that story, just because for the life of me I felt like we were so lucky to have him in the organization as a franchise owner and I couldn’t figure out why any other corporation have wanted to just put this guy on a path, to the top as fast as they could, because he in my book had everything, but I was looking at from the entrepreneurial mindset right, not necessarily the you know, the corporate mindset and but he came with the talent he came with that motivation he came with that drive and he put it to use and we just basically gave him the roadmap and he said boom get out of my way, and he built this fantastic business and then was able to help other franchise owners, which in a  franchise system, that is one of those soft benefits that not a lot of people think about is that peer to peer aspect of learning from other franchise owners and getting in mastermind groups with your peers, because everybody’s going through or has gone through the same thing, that each franchise owners going through right there’s more experienced franchisees that have gone on to build successful businesses that can help mentor the younger franchise owners to help them get to where they might want to get to faster than just working with the corporate team and what not, so there’s many soft benefits that can come into play from being a part of good quality franchise system that can really just people can take advantage of that. Isn’t one of those things that you always really think about when about you think of franchising.

Scott: No you I know think that as we’re having this conversation, I’m realizing and recognizing, that there are a ton of those sort of hidden benefits, because, for some reason, I think because McDonalds has for all intensive purposes kicked as a company that now everybody knows about them, that’s what people think of when they think of franchising, but that’s not really franchising so much. That’s just like one company, that’s done very well, and now in some ways represents what people have a tendency to think about in a stereotype and that’s not accurate in that way. But behind the scenes to your point, the things that I didn’t realize that we just covered really quick was the training aspect, I didn’t realize that was the value exchange when you’re paying a royalty to a franchise company, you are paying so that they will train you. You are paying so that they provide all the systems, your paying them so that they essentially give you everything you need, including the roadmap, to be able to move along and grow the business in the way that you want  to the other thing, I didn’t realize naively is something else that you alluded to, but I saw and I don’t you tell me if this is your experience to you, but I saw you know when I worked on the corporate side of a franchise company for a short period of time, I saw the people that kind of really would take off would be those people that maybe hadn’t had those opportunities kind of like your story, a little bit where they’ve got all of the go they’ve got all the motivation they’ve got all of those other pieces, but they hadn’t really had an opportunity to call the shots in that particular way and then once they get into a position where they’re able to call the and shots make their own decisions and do that. I, in the way that they see fit, then, when they’ve got all those other pieces and they’ve got the roadmap too, then they just sort of takeoff, and that was something I naively didn’t realize the opportunity for either, plus this last piece that you just mentioned of you, know and you’re, even when you’re in a company like that and you’ve got those peers that becomes a huge resource, because, when you’re, starting from scratch, like I, have to go create that, if I want that, I literally have to go find that and I have, but it is hard to go. It’s really difficult versus it’s built in in a lot of ways, whether you want it to be or not and a franchise type system. So I really appreciate you pointing that out, but here’s another question with that so for people that are much more of those that right fit, who would benefit from a franchise. helped me understand some of the things that they should be thinking about what are some of the things that they should have in mind, or maybe even some of the things that they wouldn’t think about that they need to know if they are considering that as a route for business.

 

Dru: Well, that’s a great question. The first thing that came to my mind is to have an open mind. and i Say that, because a lot of times, the businesses that can put people in a role that gives them the highest probability of success that taps into their skills, puts them in a role in terms of what they want to be doing, and they don’t have to be doing this stuff I don’t want to be doing a lot of times those are businesses that if you looked at it from the consumer perspective, you would dismiss pretty quickly. So, for instance, AdvantaClean, we did water damage, cleanup, mold, remediation and air duct cleaning. If you look at that business from the main street consumer perspective and I mean nobody’s gonna nobody’s going want to start to that business right.

 

Scott: It isn’t sound a little sexy business in that.

Dru: Right exactly, but what’s sexy about it is the margins are phenomenal.

 

Scott: Yes.

Dru: The back end systems that we built were very strong. The opportunity is one that’s insulated from Amazon, it’s insulated from recession, because, as long as there’s houses and buildings, there’s going to be there’s always going to be a demand for those services and guess what it’s expensive to purchase those services and people need professional help. So the things that I just described are the characteristics of the business from the ownership or from that entrepreneurial perspective. Not the consumer perspective. So a lot of times when people are thinking about franchising, they  naturally are drawn to businesses that they might be passionate about from a consumer perspective, and that is a trap. Or a potential trap, just because you’re passionate about a business or somebody says hey, you know what we need a business like that around this neighborhood, because there isn’t one, does not mean it’s a good business does not mean that people will actually pay you or there’s enough opportunity for you to build a business that can help you get to where you want to get to in life and achieve those goals. So the thing that is important is to kind of get in that entrepreneurial mindset to look at the business from the back end of it from the owners perspective and from the characteristics versus the front end. Now the front ends important right, like I’m not dismissing the front end of the widgets at the business produces, but I am minimizing it in terms of on the priority list of characteristics that are important to people to put them in that. In that highest probability of success position in franchising there’s no guarantee right? It’s not a magic board, but to do it, the right way is to find a business that you know you’re excited about and has an ownership role. That’s gonna help you tap into the potential and also fit your budget to so that you are properly capitalized coming into it, because that’s 50% of the battle, as well as being properly capitalized. So, coming in with entrepreneurial mindset and not the consumer mindset can transcend a lot of how you approach it to figure out. If there is a franchise out there that that might be a fit for what you’re looking for.

 

Scott: Well, I think that too further illustrate that too, I think that’s true, not just for not just for businesses, but it’s true for any kind of opportunity that you’re pursuing for any type of piece of your career. You know we see what’s an example that we see people every single week that went to work at Google because they had seen, you know Google’s, a great company and all these sorts of things, and then we get emails from them. You know just a year into their new role at Google where they like man, I did realize this is what it looked like on the back end and I do not want to be selling, I do not want to selling clicks anymore necessarily, this is not what I thought it would necessarily.

 

Dru: Sure.

 

Scott: And I think the same thing is very true of when you’re looking at owning the business,  you have to understand what it actually looks like on that back end, okay, so what else?

 

Dru: Alright second most important thing is your why? Why is it that you want to open up your own business? and when I say why? I mean long-term right down the road? The beautiful thing about opening your own business is it’s a blank canvas. You have the opportunity to create a business that enables you to have a life. That you might have always dreamed of and there’s no limits to what that can be or at least that’s kind of like that. That’s the mindset that I people to have because I think what kind of you know what kind of room to kind of put up barriers around what could be potential. The potential could be for people’s careers, but in business, you’ll kind of having that why? and thinking about what do you want your lifestyle to look like five years down the road once you’ve built the business and it’s mature and it’s cash flowing, and you know if you build it the right way, it’s not going to be as dependent on you as it was, when you started it, so from a lifestyle perspective, what you wanna be doing,  traveling, or you know living from the beach for six months a year or whatever might be right kinda having that lifestyle piece figured out and then also from an income perspective, you know, how much money do you want to make and then backing into what the business needs to look like to be able to produce that income for yourself and then also I, think there’s a wealth piece of this to that not a lot of people think about their exit, strategy at the beginning and it’s a hard thing to kind of think about or figure out I’m, not saying that you should have it figured all out, but one thing that people I think it’s kind of a you know, an “aha” for people when they start looking at franchises and even businesses is when you build a successful business, you build a cash flowing asset that somebody will pay you a premium for, kind of like when we talked about know that the second option of buying an existing business. Well, if you’re, on the ownership side of being the person who built this business, that’s cash flowing and it’s not dependent on you, which means it’s very transferable, which means it’s going to be very attractive to a buyer. because the business doesn’t revolve around you, which means they can kind of slide in and take over the management, what not without missing a beat. That is a significant wealth creation opportunity for people. So not only do you have the opportunity to build a business that provides an income stream for you, and it also can enable the lifestyle that you want, but there’s an event opportunity if you want to sell it down the road where you could potentially earn a significant amount of money by selling it to somebody and franchising. One of the coolest things I’ve ever done in my career is to help somebody sell their business.

Scott: Really!! I’m curious why you say that.

 

Dru: I mean it’s like the full. circle for me, I help them start it. I got to watched them and help them build it.

 

Scott: Yeah!

Dru: And they want to build it on their own and then guess what they get to sell it. And if they did it the right way, they get to sell it for a heck of a lot more money than they probably thought it was worth initially, because there is a market for people that want to buy existing franchises and franchises to buyers, existing franchises to buyers can be very attractive because of the exact same reasons that people decide to invest in them in the beginning because of the resources, the support the culture, the opportunity, whatever it might be, and that is when I’m able to see it helps somebody and play a role, big or small role in them, selling the business that they have invested their money and their sweat and their blood and their emotions into and built it beyond what they thought they could build it too and then get paid by a buyer more than they thought it was worth I think, I don’t know men that’s like the full circle for me and and then it’s a cool thing to be a part of.

Scott: Sounds like the business equivalent to becoming a grandparent herself said.


Dru: Yeah!! Well said.


Scott: You have this kid you and know pours blood and sweat tears and all the things and then and now they’re having a baby, that’s like, there’s magical. It really does sound like the business equivalent to becoming a grandpa.

Dru:  Yeah! no you know I was going a little emotional talking about I mean. I truly sincerely, I mean it’s I just love it, I love every bit of it, it’s for them like I love watching them to you know to achieve what they wanted to achieve. You know, five six seven years what they set out to achieve if they get there, because here’s the thing during the beginning, when it is time to make that decision of “Am I going to do this?”, “Am I going to move forward with this franchise?” I mean that decision in and of itself is scary. I mean that’s where most people they don’t get over that, not most people, but that’s where a lot of people can back away.

Scott: Yeah! yeah.

Dru: So to help someone over that initial. I mean it’s probably up there in the top three life-changing decisions people are going to make right to help them overcome the fear and help them make that leap of faith, because there is a leap of faith that they’re making when they decide to make the initial investment and move forward 8 years later 10 years later, whatever it is to watch it come full circle and just kinda say “Hey I told you it’s gonna be okay”. and we’ll see ahmm,  believe it and get what they, earn what was deserved. It’s a cool thing.

Scott: That is really interesting and I haven’t thought about it that way in particular, but it does raise a couple other questions for me, thinking about what we’ve talked about so far. I think there’s a lot to it I guest, first of all, but here’s what I’m curious, because one of the reasons that, we haven’t talked about extensively, but one of the reasons why I was interested in having this conversation with you was because of what you do in the way that you do it and what I mean by that is, as I learned a little bit about your process and as I learned a little bit about like what you do like you are almost in some ways like a little bit of a business and franchise matchmaker and being able to take all those inputs of “Hey, why are you wanting to do this?”. What is the the is result that you want five years from now? What are the most important pieces to you about this? What are some of your goals that are along the way and I mean they able to take that and move it into something that is actually real and tangible and business that actually aligns with what people want. I think that is, I can’t think of any other word than magical, but I was trying to avoid something that sounds like unicorns and butterflies and everything else along those lines, but that’s only it’s I mean it’s great. It’s amazing, that is the reason why I was interested in having this conversation, so tell me a little bit me a little bit about that, and what do you consider? What do you do? How do you do that, help me understand a bit of that.

Dru: I view myself, I have a title, franchise consultant. I don’t know what that means to be honest with you. I don’t charge people from my services, so sometimes it doesn’t cost anything to work with me, and I I tell you that because I view my role as a guide as a coach in that what I do with folks as I really spent a lot of time getting to know them in developing relationship with them and then developing a relationship with me I think, anybody you work with under a situation like this, where you’re looking at a potential life-changing situation, you should be getting a tremendous amount of value from that person and I try to take all my experiences and use them to help the people that I work with. Guide them down a path that is going to help them get to where they want to get to, not that I know exactly which turn to make all the time but I’ve been down the path a couple of times before you know, and a lot of times the folks will work with, they have never been down that path and they’re are wrong turns you can make going down that path so, I kind of consider myself a guide in terms of we start backwards “Where do you want to be in five or ten years?”, that’s kind of where we start and then from there we drill into so many different topics of conversation from franchising to me asking questions to help flesh out exactly you know what are those important characteristics to the folks who I work with because you know people don’t know what they don’t know right, and you know for the folks that come to me with an open mind and want that guidance and help you know nine times out of ten, the result is a business that they’ve never thought of before or even consider before so I really view my role as a guide that you know has an idea of how to help somebody get to where they want to get to, I’m because I’ve been in the path with so many other people before so.

Scott: I’m super curious Dru, what are some of the types of questions that you ask during that process.

 

Dru: So one the of big things that I focus on with people, because I’ve seen this as a key area to get right is what I want their role to be in customer acquisition, because any small business or any business right, it starts with acquiring a customer.

Scott: Yeah!

Dru: Well, there are different customer acquisition models that businesses have, like AdvantaClean. It was a very B to B, so we would generate businesses from developing relationships with real estate agents, insurance agents, plumbers, HVAC companies. Anybody who is in the round of building right or home well, that’s a very relationship driven business. That means that the owner has to be out there developing relationships in order to drive business. Well, if that business is not fit for somebody who’s more introverted and does not want to be the face of the business out in the community right.

 

Scott: Yeah!

 

Dru: Well, there are other businesses that are much more inbound driven by inbound lead generation where the franchise company has developed tremendous marketing and lead generation systems that make the phone ring or drive leads to a customer service rep who and then books an appointment that somebody else goes out and does right, so just because you don’t consider yourself a salesperson does not mean that there isn’t a business out there for you, but it doesn’t mean that you should focus on the businesses that have those inbound customer acquisition models and that inbound customer acquisition is not something that you see advertised on franchise internet directories.

Scott: No.

Dru: Right.

Scott: Not at all.

Dru: That’s the stuff, you see, hey we’re best the business, because of you know this feature and its benefit. They don’t say hey if you’re an introvert, and your like inbound lead generation, this business is great a fit for you what know I mean so I believe that customer acquisition is one of the most important things for people to get right in terms of what their role is gonna play in that.

Scott: That’s interesting. What else?

Dru: Funding, what somebody can realistically afford of what  they’re comfortable investing in is a big piece of it. I think being properly capitalized as 50% of the battle right. How do you plan to fund a business and I connect them with funding companies that can gather the experts in this stuff to help them figure it out, how much personal savings or cash are you comfortable in injecting into the business. How much do you have in reserve for your personal working capital, right to cover your lifestyle expenses until the business is going to take some time for any kind of business to grow and mature to where it’s producing enough cash flow to not only cover itself, but also for the owner to take out the business, so funding is a big piece of it, and then you know we kinda get down to number of employees. Some people they don’t want a lot of employees. Some people say hey I, don’t care how many employees , I want to scale big a big business, but you know that’s a big piece of it as well. Some people also are interested in opportunities that are more manager run businesses that have an opportunity for them to keep their job, and start a franchise. And then, ultimately, for five years later, transition into the business or if they opened up multiple locations. Whatever there are business models out there that are specifically designed for people that have an extra 15 to 20 hours a week, that they want to invest in their own business, their are franchise models that that follow a very strong manager run business model that they can achieve that, They can diversify their income, they can start a business with the extra time that they have in their week and build out multiple locations if they want to so they have an existing amount of cash flow to transition into, you know once they decide to leave their W2 income in the corporate so.

Scott: Couple that lives just down the street, from where we live and that’s the exact route that they did. They initially were both working and then ended up acquiring their first franchise and then they were working at that, both of them actually. The couple together where each spending about 15, 20 hours a week and working within the franchise, and then they made it their full-time thing, and then they did that same thing with another franchise, like they were working as they as they built it up, they ended up buying a totally different franchise in and now they have three different types of franchises and Jesus it has been about four years or so, three different types of franchises and I think six different locations at this point.

Dru: Yep and they’re not probably in the stores interacting with customers too much right. There probably the much more behind the scenes working on the culture.

Scott: Yes.

Dru: Managing the managers, empowering their managers, leading their teams, maybe making key staffing decisions, but you know you’re not going to see those people in the store at the cash register, checking you out when you go in there right. They are behind the scenes and so I think that kind of goes back to the new but a little bit of the mindset too, like people think of businesses, and I they think hey I. as the owner I have to be, you know, the chief cook and bottle washer I have to be the person behind the counter checking customers out, I don’t want to be doing that. Well you don’t have to be doing that, in fact, a lotta times like a couple of you just described to me. It sounds like, they have a very impressive business, and that’s where scalability can come into with play with different franchises. This is just a sampling of I, spend 60 to 90 minutes, taking everybody working through detailed a consultation where flush all this out and then I summarize it for them in a document that I spent a lot of time writing up so that we can establish what the key framework and criteria is for them around their ideal business model and then that’s what gives me the guidance to go out and do a search for franchises to come back to recommend that they research and I have a whole system that I teach people about how to systematically do due diligence on a franchise, because one of the biggest benefits of doing due diligence and researching franchises is, there is so much information that you can research and there is a system to use to kind of go through it all, but franchising is regulated by the Federal Trade Commission. So franchise companies have to provide a significant amount of information to prospective franchisees and that’s great, but the most valuable thing that people can do in their due diligence. This is the coolest thing I think out there, that’s pretty unique to franchising is it’s very simple, its call existing franchise owners. The good quality franchise concepts are going to say, here’s a list of our franchise owners, here’s the numbers, you call away, we’re still proud of our franchise owners in that business is they’ve built that we want you to call everybody, but that’s what we called validation, that’s where you can validate a lot of what you’ve learned about the business directly from the franchise company to figure out hey, these people really have built businesses, that are aligned with what I want to build, or maybe you had a couple conversations, and you figure out hey, I don’t so much identify with these folks and maybe it’s not exactly what thought I or whatever so to me, having that opportunity to validate a lot of the conceptual information you learn is really where the rubber hits the road in the due diligence and gives people just a tremendous resource of information to help them figure out, if a franchisor, if that particular franchise might be the fit for them.

Scott: I love that advice and I think that. First of that all is empowering when you think it about that way, because then it really is you finding the actual fit for you versus just accepting you know what’s out there and plus to. You know most most franchise companies are pretty proud of what they do and like they are biased, in terms of they believe it’s a great franchise, but that doesn’t necessarily mean it’s a great franchise for you and being able to bring in a lot of those data points can helps if there are so I love that you do that as a part of is a part of the process if you will, by the way one of the things that we are doing, we are taking all of this information from this episode in distilling into a mini guide, and you can go over to https://happentoyourcareer.com/248 or search, happen to your career and franchise and it’ll pop right up as well and find everything that we’ve talked about in a format that you can even download and Dru, I really appreciate you taking the time and going through all of this, so I just have two other big questions for you: one, is for people that its peak through interest and like wow, maybe this could be a good route for me, what would you advise them to do to find out if it actually is.


Dru: Well, you know I think it all starts with the conversation with me just to learn because I need to learn more about you know anybody’s individual situation, so the first step would be if you wanted to have a conversation with me, I’m very accessible, you can go to my website, which is http://freefranchiseadvice.com/ and just fill in the form and I will get that and be in touch or you can find me on LinkedIn I, do think I’m the only Dru Carpenito in the US, so you can Google me, you can check me on a very accessible, but you know reach out and have a conversation and we can go from there and know if you’re not ready to maybe have the conversation, and you want to do a little bit more research. I would recommend two things you can follow me on Facebook or on LinkedIn and I put out content and it’s not the most professional content. I literally will be driving in my car and a topical hit my head and I will just start making a video and I will publish that video about business ownership or franchising or interesting conversation I had that day, so I’m putting out some content that I think people could find useful, I’ve, written a franchise investment guide as well. So, if you are interested in that just send me a message and I’d be happy to write or to send you, the franchise investment guide, that kind of distills a lot of what I talked about today in a 20-page ebook that you can check out but there’s no charge to work with me, no contracts either so I’m, not going try to sell you anything if you just want to follow me us around, but that would be the best way to get in with touch me or check out some more information about franchising.

Scott: Well, I really appreciate that and again, that’s one of the reasons why I was interested in having this conversation with you, particularly because you’re in that very unique situation and honestly we’ve considered bringing on some people in the past that are in franchises or even members of a particular franchise company to help people understand and learn about this as a potential career option, however, main reasons why we didn’t is some of the biases that go into it, and we wanted to be able to have kind of a more holistic way to learn about this, so I really appreciate you and what you do and also taking the time to come on and provided that holistic learning option like the way that we’ve just talked about it. Essentially, Who is who is this good for? Who is it not good for and who would be better off in a different situation? So that that means a lot to me and I know that that will be very helpful to everyone. Listening to yeah, so thank you.

Dru: Great well, I just got to thank you. This has been fun. I’ve really enjoyed speaking with you and talking about the topics and I think you do. You do a great thing with putting out information and content for folks to tap into as they are thinking about potentially making a career change.

Scott: If this sounds like something that’s interesting to you, I would highly recommend, contact Dru, follow him on LinkedIn, look him up, follow him on Facebook, go over to what was the can you tell me the address again so that we can get it right.

Dru: Sure it’s http://freefranchiseadvice.com/.

Scott: Go over to http://freefranchiseadvice.com/ and find out and learn if this is a great opportunity, for you. Thanks again Dru and I really appreciate having you here.

Dru: Scott, thank you for having me here my friend it’s been fun.

Scott: Hey, we’ve put everything from this episode into a guide about both different types of businesses and franchises and wanted to be able to put everything into one place. So, if you’re interested in getting that just go ahead and go over to https://happentoyourcareer.com/franchise or you can just search Happen To Your Career franchise in Google and it’ll pop right up. But if you enjoyed it head on over to the website https://happentoyourcareer.com/franchise, and I think that you love that we have so much coming up for you next week right here on Happen To Your Career.