Franchise Empires The Wolf, A Workweek Friend
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Most startups are doomed to fail. But there’s an alternative route to financial freedom for hungry entrepreneurs. One that involves far less risk, far more work-life balance, and just as much profit. Franchises. Franchise Empires gives aspiring franchise owners the playbook to build a multi-unit franchise empire of their own. Every episode we hear from guests who are building their franchise empire: Franchisees who started with one unit and aren’t stopping until they get to dozens, hundreds, or even thousands more locations. Hosted by The Wolf, you’ll hear exactly how to turn your ambition into tangible actions and take your first steps up the franchise ladder. We’ll break down the steps you need to take open your first franchise, your second location and beyond, along with the many pitfalls to avoid. Wolf answers all your questions about owning and running your franchise, and interviews guests with first hand experience like Greg Flynn, the multi-billion dollar restaurant franchisee, Jamie Weeks, the largest OrangeTheory franchisee in the world who’s launching his own fitness franchise SweatHouz, and Jason McGowan, Co-founder and CEO of Crumbl cookies. Want to get started on your franchise owning journey? Tune in every Tuesday for a new episode. Make sure to subscribe wherever you get your podcasts.
Interested in participating as a guest at Franchise Empires? Submit your request here!
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S8 E10: Listener Mailbag: Negotiating Franchise Agreements, Back Office Solutions, & the Nashville Chicken Wars
Buckle up because the Wolf is taking another stab at your best Twitter questions in this solo question-and-answer pod.
Should you be able to negotiate a franchise agreement? If so, how much of an agreement is negotiable, or are most franchise agreements a take-it-or-leave-it proposition?
Then the Wolf uncovers his #1 recommendation for back-office franchisee solutions (hint: it’s a software that’s near and dear to his heart), before dissecting the differences between chains and franchises.
Plus, who will win the Nashville Chicken Wars? Or do all chicken franchises come out the loser if the market has hit its peak saturation point?
Follow The Wolf:
Newsletter: https://workweek.com/brand/the-wolf-of-franchises/
YouTube: https://www.youtube.com/@thewolfoffranchises
Twitter: https://twitter.com/franchisewolf
Website: https://www.krokit.com
And for exclusive insider content, don’t forget to check out my YouTube channel.
Are you a future franchise entrepreneur? Find all of the tools you need to launch, operate, and expand your franchise empire with the platform created by The Wolf himself, Krokit.com.
And if you’ve enjoyed listening to Franchise Empires, I’d be so grateful if you could drop me a 5-star review on Rate My Podcast. Thank you so much! -
S8 E9: How Lucas Mitchell Bought 20 Five Guy’s With Just $700k
The Wolf chats with french fry master, Lucas Mitchell, a successful entrepreneur and franchisee of Five Guys, to discuss the ins and outs of scaling a franchise business. From building strong relationships with franchisees to managing shiny object syndrome, Lucas shares valuable insights and lessons learned along his journey.
How did Lucas go from owning five stores to over 20? What were the challenges and rewards that came with his rapid growth? He details his unique strategies for managing debt covenants and explains how he leveraged specific relationships to fuel his franchise’s expansion.
Hear how Lucas has kept his composure and avoided the temptation of shiny object syndrome to maintain a consistent relationship with Five Guys. He reveals his philosophy for scaling a sustainable organization and tells the Wolf how he managed to escape with his sanity intact while growing Five Guys.
Lucas also explores why continuous learning and evolution were essential to his role as a leader. Find out how he has leveled up his leadership skills and implemented guidelines to run his business effectively. Plus, get a glimpse into Lucas's future plans for growth, including the potential for expanding into other brands.
Paylocity offers the only modern HR and payroll solution that makes real-time recommendations to drive better business outcomes.
Paylocity is the modern, all-in-one platform that makes HR and payroll easier — so you can focus on your employees. We’ll make onboarding faster, recruiting smarter, and compliance simpler. To learn more visit https://paylocity.com/restaurants.
00:06:13 - Leveraging Relationships to Buy Locations
00:12:12 - Investment Strategy: Equity vs. Debt
00:16:04 - Navigating Debt Covenants in Restaurant Ownership
00:18:43 - Understanding Debt Covenants in Franchising
00:23:25 - Combining Five Guys with Another Brand
00:25:40 - Managing Shiny Object Syndrome as an Entrepreneur
00:31:18 - Avoid Entrepreneurial Mistakes: Focus First
00:34:57 - Building Relationships Key to Franchise Success
00:41:37 - Evolving Leadership Skills in Business
Follow Lucas:
Twitter: https://twitter.com/lmitchellhq?lang=en
LinkedIn: https://www.linkedin.com/in/lmitchellhq/
Follow The Wolf:
Newsletter: https://workweek.com/brand/the-wolf-of-franchises/
YouTube: https://www.youtube.com/@thewolfoffranchises
Twitter: https://twitter.com/franchisewolf
Website: https://www.krokit.com
And for exclusive insider content, don’t forget to check out my YouTube channel.
Are you a future franchise entrepreneur? Find all of the tools you need to launch, operate, and expand your franchise empire with the platform created by The Wolf himself, Krokit.com.
And if you’ve enjoyed listening to Franchise Empires, I’d be so grateful if you could drop me a 5-star review on Rate My Podcast. Thank you so much! -
S8 E8: Stretching the Limits: The Rise of StretchLab, with Steve Hitzemann
Loosen up. Literally.
StretchLab is the Austin-based company helping others to increase performance and decrease joint pain. The Wolf chats with owner Steve Hitzemann about the fast-growing franchise’s rapid ascent to success.
How did Steve dare to dream of a business model based on nothing more than stretching? Hear how Steve made the impossible possible, and how he’s making a two-membership franchise financially sustainable.
Is the stretching franchise just another fad? And if so, how has Steve prepared to compete in a potentially soon-to-be oversaturated market?
From its customized one-on-one sessions to a unique approach to customized service with expertly trained flexologists, discover how StretchLab is revolutionizing the wellness industry with its approach to flexibility and overall well-being.
With six locations open, and more on the way, you won’t wanna miss hearing Steve’s insights on the value of simplicity, staffing, and scalability.
Paylocity offers the only modern HR and payroll solution that makes real-time recommendations to drive better business outcomes.
Paylocity is the modern, all-in-one platform that makes HR and payroll easier — so you can focus on your employees. We’ll make onboarding faster, recruiting smarter, and compliance simpler. To learn more visit paylocity.com/restaurants.’
00:00:50 - Stretch Lab: Revolutionizing Personalized Stretching
00:03:42 - Training and Connection Key for Flexologists
00:09:05 - StretchLab’s Services
00:13:08 - Creating a Scalable Fitness Program
00:17:05 - Staffing That’s Driven by Membership Base Strategy
00:26:49 - Expanding from One Studio to Six Stretch Labs
00:31:25 - Scaling a Growing Organization with Multiple Locations
00:40:38 - Market Saturation Concerns for Assisted Stretching
Follow The Wolf:
Newsletter: https://workweek.com/brand/the-wolf-of-franchises/
YouTube: https://www.youtube.com/@thewolfoffranchises
Twitter: https://twitter.com/franchisewolf
Website: https://www.krokit.com
And for exclusive insider content, don’t forget to check out my YouTube channel.
Are you a future franchise entrepreneur? Find all of the tools you need to launch, operate, and expand your franchise empire with the platform created by The Wolf himself, Krokit.com.
And if you’ve enjoyed listening to Franchise Empires, I’d be so grateful if you could drop me a 5-star review on Rate My Podcast. Thank you so much! -
S8 E7: A Bundt Cake Franchise With ~$300k In Profits?!
The Wolf’s taking a break from his normal podcasting format to break down the latest in franchising news this week.
Is Orange Theory’s acquisition by Self Esteem Brands a good thing or a sign of impending doom? With Orange Theory’s numbers diminishing since the initial insanity of their boom, could this spell disaster or is it a shrewd business move?
The Wolf also tackles Domino’s latest earnings announcement before trying his hardest not to become a total Crumbl apologist. He’s taking a hard look at the announcement of the franchise savant’s diminishing sales numbers and diving into whether or not a dessert franchise can ever truly be sustainable.
Will Crumbl find their steady state and buck the trend to become more than just another fledgling fad? Or is this the beginning of the end?
Paylocity offers the only modern HR and payroll solution that makes real-time recommendations to drive better business outcomes.
Paylocity is the modern, all-in-one platform that makes HR and payroll easier — so you can focus on your employees. We’ll make onboarding faster, recruiting smarter, and compliance simpler. To learn more visit paylocity.com/restaurants.
Follow The Wolf:
Newsletter: https://workweek.com/brand/the-wolf-of-franchises/
YouTube: https://www.youtube.com/@thewolfoffranchises
Twitter: https://twitter.com/franchisewolf
Website: https://www.krokit.com
And for exclusive insider content, don’t forget to check out my YouTube channel.
Are you a future franchise entrepreneur? Find all of the tools you need to launch, operate, and expand your franchise empire with the platform created by The Wolf himself, Krokit.com.
And if you’ve enjoyed listening to Franchise Empires, I’d be so grateful if you could drop me a 5-star review on Rate My Podcast. Thank you so much!
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S8 E6: Beyond the Brand: Insights from Some of Franchising’s Finest
The Wolf’s mixing it up this week as he’s joined by special co-host, Dru Carpenito, to chat with franchise-consultant-turned-CFO-franchise-incubator, JT Singh, about what makes up a successful franchise.
From financial services to home services, they explore the different industries and investment sizes that aspiring franchise owners should consider. What’s the significance of territory size? Do the risks outweigh the rewards when it comes to selling an entire territory to one franchise owner?
The trio also discusses the various ins and outs of franchise opportunities and dissect how franchisees can best minimize risk in an increasingly competitive market. Discover the importance of thorough research and validation when evaluating franchise opportunities, and learn why talking to existing franchisees is crucial in making an informed decision. Plus, what’s the case for standardization and greater transparency in franchise disclosure documents?
Whether you’re a seasoned entrepreneur or considering franchising for the first time, you won’t want to miss this incredibly insightful conversation with some of franchising’s finest minds!
Paylocity offers the only modern HR and payroll solution that makes real-time recommendations to drive better business outcomes.
Paylocity is the modern, all-in-one platform that makes HR and payroll easier — so you can focus on your employees. We’ll make onboarding faster, recruiting smarter, and compliance simpler. To learn more visit paylocity.com/restaurants.
00:01:07 - Buying Superior Fence and Rail: A Home Services Franchise Story
00:05:55 - Franchise Margins for Home Services
00:07:07 - Structuring Hiring for Business Growth
00:14:07 - Financial and Bandwidth Preparation for Business
00:21:58 - Franchisees Warned: Validate Before Investing
00:28:18 - Regulatory Minimum Requirements for Franchisors
00:36:07 - Decoding Franchise Disclosure Document Secrets
00:47:35 - Exciting Growth for Fast-Growing Franchise
00:52:51 - Service Business Expansion Strategies Unveiled
00:55:57 - Selling Metropolitan Markets to Franchise Owners
00:59:09 - Franchisees Outperforming Corporate Locations Analysis
Follow The Wolf:
Newsletter: https://workweek.com/brand/the-wolf-of-franchises/
YouTube: https://www.youtube.com/@thewolfoffranchises
Twitter: https://twitter.com/franchisewolf
Website: https://www.krokit.com
And for exclusive insider content, don’t forget to check out my YouTube channel.
Are you a future franchise entrepreneur? Find all of the tools you need to launch, operate, and expand your franchise empire with the platform created by The Wolf himself, Krokit.com.
And if you’ve enjoyed listening to Franchise Empires, I’d be so grateful if you could drop me a 5-star review on Rate My Podcast. Thank you so much! -
S8 E5: Listener Mailbag: Your Hottest Franchising Questions Answered
The Wolf is breaking it down solo for this special Q&A session, where he’s answering your most burning questions about the world of franchising.
What are the different strategies and considerations involved in owning one to two locations versus four to five locations? Are home services and non-brick-and-mortar franchises the place to hedge your franchising bets?
From the costs of hiring a fast food general manager to the best value propositions for aspiring entrepreneurs, The Wolf provides his most valuable insights and advice from his years of experience.
The Wolf also addresses the excitement around pet-related franchises in 2024 and the importance of speaking to franchisees to get an accurate picture of the business. Plus, find out his best thoughts about industry red flags and how to avoid “snake oil” franchises.
00:00:00 - Investing in Profitable Franchises for Returns
00:01:48 – The Hype Around Home Service Brands
00:05:18 - Top Franchise Choices for Investment
00:06:37 - Overhead Comparison for Owning Multiple Locations
00:07:57 - Outsourcing and Hiring for Growth
00:11:36 - American Fast Food Franchise Saturation Concerns
00:18:33 - Exciting Pet Franchises in 2024
00:23:51 - Key Attributes for Successful Franchise
00:25:10 - Franchising Red Flags
Paylocity offers the only modern HR and payroll solution that makes real-time recommendations to drive better business outcomes.
Paylocity is the modern, all-in-one platform that makes HR and payroll easier — so you can focus on your employees. We’ll make onboarding faster, recruiting smarter, and compliance simpler. To learn more visit paylocity.com/restaurants.
Follow The Wolf:
Newsletter: https://workweek.com/brand/the-wolf-of-franchises/
YouTube: https://www.youtube.com/@thewolfoffranchises
Twitter: https://twitter.com/franchisewolf
Website: https://www.krokit.com
And for exclusive insider content, don’t forget to check out my YouTube channel.
Are you a future franchise entrepreneur? Find all of the tools you need to launch, operate, and expand your franchise empire with the platform created by The Wolf himself, Krokit.com.
And if you’ve enjoyed listening to Franchise Empires, I’d be so grateful if you could drop me a 5-star review on Rate My Podcast. Thank you so much!
Customer Reviews
Great podcast, a lot of value
Love this show. Just don’t understand the music mid podcast while you’re talking.
Great content!
Really enjoying the in-depth interviews and convos on this podcast! As an experienced marketer of franchises and now a new AR and franchisee - I’ve loved all of the key learnings here.
FIX THE AUDIO
I love Cali Coffee but the interview was painful to listen to because of your audio. it sounded like they were talking in an empty room with echo. Also as the host you need to stop using the word “like” as you are talking. I know it’s a hard habit to break but good interviewers don’t do that. I did enjoy hearing from the Cali owners as this is my favorite coffee place.