Is Buying a Franchise Just Making Someone Else Rich? (a Franchisor’s Opinion)

Kim Daly Coach's Corner, Vlog

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Today, we’re going to meet entrepreneur, franchisor, and a great personal friend of mine, Jacques “Jack” Lapointe, the founder of Jan-Pro. He’s here to answer the question, “Is buying a franchise just making someone else rich?” Jack’s massive professional success is a reflection of his work ethic, positive attitude, strong business sense, and kindness.

Jack shares his story of building one of the largest commercial cleaning companies in franchising and the massive success he’s had.

“I started Jan-Pro in 1991. I remember my wife saying, ‘You know, Jack, you’re going to be very successful in this business because you’re helping the little guy.’ I’m in this to build a brand and to build a business. And I wasn’t thinking necessarily about getting wealthy. In December, of ’92, I got the shock of my life… I had 41 franchises already sold in my first year. Year two came along, and that year, I sold 81. So, now, I had 122 franchises in my first two years! I realized that there was value in helping people own their own businesses. And that’s really the business model.”

On the myth of “making a franchisor rich,” Jack offers this:

“First of all, if the franchisor is someone who is thinking about getting rich from franchising rather than building a business to help other people, they’re not franchisors. The idea is to help other people be successful, and in doing so, you benefit from that. Because in franchising, yeah, they talk about the franchise fees, for example, that’s an expense up front… but at the same time, in reality, that’s not a profit center for the franchisor. Well, royalties come from the success of the franchise owners, right? And so if you want to build a solid brand and have value, it comes to royalties. We go into business as a franchisor to help others be successful. Through the vicarious function, they become successful, we become successful as well, and at the same time, if everybody benefits, that’s really what it’s all about at the end of the day.”

Jack is a fan of Franchise Consultants (and one in particular– can you guess who?)

“They’re the ones who brought those executive-level players to me, I wasn’t getting any other way. I remember when you called me a few times and said, Jack, look at this background. They were the kinds of people I was now looking for. And it’s because of people like you. Without it, it would have never happened. That’s the reason why I’m such a huge fan.”

Still think that buying a franchise is just putting money in someone ELSE’S pocket? I’d welcome you to leave a question comment below, or take two minutes and e-mail me directly right now!

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