#104: King of Franchises Reveals All

Welcome to a new episode of The Founder Podcast. Dreaming of business ownership, but franchising sounds more appealing than starting from scratch? Today’s episode is your golden ticket. Franchising guru Lance Gramlich, the "King of Franchising," shares his secrets to success. Learn why leadership beats passion in franchise selection, discover the power of asking the right questions, and uncover the financial potential of franchising (think 3-5 times cash flow on resale!).

Highlights:

"Forget about your passion. Use your skills, but leadership. Look at the leadership of the business you're getting into."

"The validation stage or process is gold. When you ask the right questions..."

"In franchising as a franchisee you're going to sell for three to five times cash flow typically."

Timestamps:

00:00 - From Wall Street to Franchise King
01:41 - Finding Your Way into Franchising
03:56 - Taking the Gopher Role: Learning from the Ground Up
04:55 - Making Money Doing Anything: The Entrepreneurial Spirit
10:00 -The Importance of Intrapreneurship and Experience
13:32 -The Krispy Kreme Rollercoaster: Boom and Bust
15:00 - Beyond Food Franchises: Exploring Profitable Options
17:35 - Don't Follow Trends, Choose Longevity
20:00 - The Validation Process: Don't Get Married Too Quickly
25:00 - Franchising for the Hands-Off Investor: It's Possible!

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