When starting a small business, there are several options. You can start from scratch yourself, work with a partner to create something new, buy an existing business, or acquire a franchise.
We’ve talked about the first 3 many times on the show, but not much about buying a franchise or getting the franchise for your own business. Today we are trained in the franchise business model by Nick D’Agnillo from Nexus property management.
Join your hosts Dave Hamilton and Shannon Jean to learn how Nick gained real estate investor experience to start Nexus Property Management with a plan to start a business he could become franchisees. You will learn how to get startup information from your future competitors, why early and transparent pricing can be a competitive advantage and how many hurdles you have to face when considering a franchise for your small business.
You will also learn the steps required to turn your business into a franchise – from hiring a consultant to analyze your business, to preparing a detailed franchise disclosure document. Nick also shares what the cost will be and how much money you will need to set aside to complete the franchising process.
If you listen to all of this and much more, then visit us at Small business support group to join the discussion and share your own franchising experiences.