In this episode of the Author Brands Show, Doug Crowe interviews John Ostenson, the CEO of FranBridge Consulting and bestselling author of non-food franchising. They discuss the advantages of franchising over buying an existing business, the key factors to consider when choosing a non-food franchise, and the importance of a strong leadership team. John also shares his favorite non-food franchise opportunities and offers advice for those interested in franchising.
Key Takeaways
- Franchising is a safer and better path for entrepreneurs looking to get into business ownership compared to buying an existing business.
- When choosing a non-food franchise, it is important to consider the financial model, competitive advantages, and the experience and support provided by the leadership team.
- Non-food franchises in industries like home and property services, health and wellness, and those catering to needs-based markets can offer higher margins and recession resilience.
- Investing in a franchise with an investor model, where the franchisor runs the business for you, can be a more passive and turnkey option.
- Due diligence is crucial when considering franchising, and it is recommended to read books and seek advice from experts to make informed decisions.
Grab a copy of Jon’s “Non-Food Franchising: The Better Path to Business Ownership” book at https://a.co/d/5loiD34