How to Succeed At Buying a Franchise with Josh DuBois
In this episode, we discuss buying a franchise with Josh Dubois. Most people consider business ownership to replace income or build generational wealth. Franchising fast-tracks starting a business by providing systems and resources. Josh recommends exploring options over 1-2 months without pressure to decide. He outlines the process of researching franchises, speaking with owners, reviewing financials, and managing expectations. We emphasize having a strong "why" and taking extreme ownership as a franchisee. Success requires being known in the community, following the playbook, and having a positive attitude. Josh's father transitioned from long hours in the restaurant industry to owning a dry cleaning franchise, which allowed him to attend Josh's games and eventually become a CEO. This lifestyle change inspired Josh to pursue business ownership before becoming a franchise broker to help others without promoting any specific franchise. He lives by "conquer the mind" – being conscious and positive to manifest goals. Timestamps: 02:05 Why pick franchising over starting your own business? 04:58 Lifestyle and legacy in franchising 10:14 Lifestyle freedom in franchising 12:09 The buying process and common mistakes 17:08 Getting started and being successful 19:41 Managing expectations between franchisor and franchisee 21:22 Taking extreme ownership 23:23 Tips, tricks, and hacks for buying a franchise 25:00 You don't need to decide today Key Takeaways: Spend 1-2 months exploring franchise options to make an informed choice. Research thoroughly: talk to owners and review financials. A strong "why" drives motivation and focus. Extreme ownership means fully committing to the franchise’s success. Being known in your community benefits your business. Follow the franchise's systems and guidelines. Maintain a positive attitude to overcome challenges. Personal experiences can inspire and guide business decisions. Hands-on ownership experience helps in advising others. A positive mindset, or "conquer the mind," is crucial for achieving goals. SUBSCRIBE: https://youtube.com/playlist?list=PL3Z0s7ZInq7pa2sYHDc6fw_V7T6mb657f&feature=shared Don't forget to subscribe and leave us a comment! ========================================= Follow Us: Twitter: https://twitter.com/SandlerTraining Linkedin: https://www.linkedin.com/school/sandler-training/ Instagram: https://www.instagram.com/sandlertraining/ Facebook: https://web.facebook.com/sandlertraining/?_rdc=1&_rdr =========================================