Do you want to get RICH owning a franchise? You have come to the right place, because guess what? Some people actually DO get rich owning a franchise! Spend your next 10 minutes with me for real, transparent advice on how to build wealth in a franchise business.
How do you define “rich”?
The first question I would have for you is, how do you define “rich”? I like to say that rich people have money, but wealthy people have time to spend their money. So, do you want to be a rich person who’s working, working, working, working, working for a living? Or do you want to be a wealthy person who’s sitting back enjoying the fruits of their labor because they are leveraged through a brand infrastructure, systems, people, technology, AKA everything that a franchise affords?
The average person who starts a business, if they make it statistically past the survival rates, how many of them are able to scale their business to multiple locations or scale their business in a way that they can remove themselves from the day-to-day operation? I don’t know too many entrepreneurs who have that life, but I do know many franchisees who do.
Defining your goals for your franchise business can help you become rich When I work with a candidate, from day one, we talk about their goals. I want to know, what do you want to achieve through this business?
How I select the right business for the candidate is based on what they’re trying to achieve through the business. So, how can you select a business unless you know what you want to achieve? So when I say, how do you define rich, I want to know what that means.
Are you hoping to build a franchise where you can be as passive in the business as possible?
There are franchise businesses that allow that, and that would be another form of wealth in and of itself, right? Because from day one, the owner’s time is not tied up in the business. The freedom of your time is definitely a form of wealth.
Others’ definition of rich could be waking up and being a full-time owner in a business that they actually enjoy working in. For many franchise owners, the passion comes simply from the control, the freedom, the idea that they took the risk and the business is theirs, and that pride of ownership and that competitive spirit that’s borne inside of somebody after they say yes to the dream to own a business. But for others, passion is defined as the role that they play in the business and waking up and enjoying how their time is spent every day in the business. Then, there’s the definition of rich, which is just money—cold, hard cash, looking for the opportunity that’s going to bring the best ROI. I can help you find those opportunities as well.
How do you get rich as a franchise owner?
A big component of this is understanding your definition of rich and then using someone like The Daly Coach to make sure that you’re looking at franchise businesses that align with your definition of rich. After that, it’s saying yes to the dream and then waking up and executing.
At the end of the day, how do you get rich owning a franchise business? It depends on your definition of rich. It depends on you selecting the right business that will efficiently get you to that definition of rich, and then it depends on your execution of the proven business plan. And that execution will come back to the size of your goals, your focus, your intensity, your discipline, your consistency, your patience, your leadership skills, your sales skills, your networking skills—all of the things that would make anybody successful, no matter what they were trying to do in their life.
If you want to know more about how to become rich, or as The Daly Coach would say, truly wealthy through a franchise business, I would love to meet you. Please reach out to me directly using the form below!