As we look into different business models and wealth-building strategies, this conversation will certainly provide new insights into growing your business in a fast and profitable way.
In this episode, Joey and Russ speak with Tom DuFore, CEO of Big Sky Franchise Team. Tom supports and consults with Big Sky Franchise Team’s clients on their expansion and franchise efforts. He has the unique ability and knowledge in franchising, having been a franchisee, a franchisor, and a franchise supplier. Tom also worked as a Franchise Consultant for different companies.
Top 3 Things You’ll Learn:
Questions you need to ask before you franchise your business
Pitfalls to avoid when franchising
Opportunities to earn and grow your business through franchising
About Our Guest:
Tom DuFore is the CEO of Big Sky Franchise Team where he is responsible for the company strategy, vision, and growth. In his role, he also supports and consults with Big Sky Franchise Team’s clients on their expansion and franchise efforts. Tom has the “Franchise Trifecta” having been a franchisee, a franchisor, and a franchise supplier.
Prior to starting Big Sky Franchise Team, Tom spent more than 10 years as a Franchise Consultant working for multiple consulting companies. He also served as the Vice President of National Business & Franchise Development for the Rabine Group, a National Facilities Maintenance Construction Company with 15 business units. He led the company’s sales, marketing, and national expansion initiatives, helping the business expand from $125 million to $185 million in annual revenue in just 2 years.
Connect with Tom DuFore:
Website – https://bigskyfranchiseteam.com/
Take Advantage of a Free Financial Strategy Call:
4:57 – Why did Tom want to become an entrepreneur?
6:09 – What were the critical steps that got Tom into franchising?
10:56 – What type of business would make a good franchise?
14:24 – What is the most common train wreck or example of a franchise that didn’t work?
15:42 – How much time does someone need to invest in a franchise?
20:14 – Does any business aspect of Wealth Without Wall Street qualify to be franchised?
26:12 – How much will it cost to franchise Wealth Without Wall Street Mastermind?
28:04 – How much marketing budget do you need to promote a franchise similar to WWWS?
30:25 – How much money can a franchisee expect to make?
32:10 – As business owners, do you really want to franchise your business? Are you aware of the responsibilities of a franchisor?
32:49 – Is there a process to follow when selling a franchise?
33:22 – What is the role of the franchise consultant?
35:51 – What’s in it for me as a franchisor?
39:02 – What if my franchisee is not providing the same level of service and they’re underperforming?
41:42 – How can you work with Tom if you want to franchise your business?
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