#267: How - and Why - to Leverage Franchising as a Growth Strategy with Jon Ostenson
If you only think of fast food restaurants when you think of Franchising, then this podcast will completely shift your mindset. Jon Ostenson is on the show to demystify how Franchising works, how it can be used to scale your current company, as an investment asset class to grow your wealth, or as a way to start your entrepreneurial journey (on 3rd base).
Jon got his start in corporate America working for Accenture before he left to become President of a Shelfgenie - a national brand with 200 locations. Now, Jon is the CEO of FranBridge Consulting, a franchise investor himself, author of 'The Franchise Path', and international speaker specializing in the area of non-food franchising.
What You Will Learn
- Franchising can be a strategy to grow your brand with other people’s money
- Why franchising is a great alternative to starting from scratch
- Why franchising forces the owner to view their business as a financial asset
- You don’t have to go into a industry that you know - or have experience in
- Franchising could mean faster scalability
- The importance of additional support for franchisee’s and how it relates to royalty free
- Where success comes from as a franchisee
- Why markups are super profitable as a franchisor and how to make it a win-win for everyone
- People love the “non-sexy” spaces
- Getting started on the FDD (franchise disclosure document) and how to begin your franchisor endeavour
- Why outsourcing your sales team from the start is a great idea as a franchisor
- How the franchise industry can play a part in the generational wealth transfer
Jon is a consultant, investor, author, and international speaker specializing in the area of non-food franchising. He draws on his experience as both the President of an Inc. 500 franchise system and as a multi-brand franchisee in serving clients across these capacities. Jon serves as CEO of FranBridge Consulting where he helps clients understand all aspects of non-food franchising in the process of introducing them to opportunities from the over 300 high growth brands that he represents. Additionally, Jon oversees FranBridge Capital where he and his partners own 17 territories across 5 property service franchises.
Jon is the author of 'The Franchise Path' and is a frequent contributor and thought leader for publications on the topic of franchising and franchise investments. Prior to FranBridge, Jon was the President of ShelfGenie, a national franchise system with 200 locations. Prior to ShelfGenie, Jon was the Vice President of Sales for Carter’s Inc., responsible for over $350M in annual sales. Jon began his career as a Consultant with Accenture, often working Internationally on behalf of clients.
Jon has BBA and MBA degrees from the University of Georgia and lives in Atlanta, GA where he and his wife have 3 children and are active in the community.
- "Private equity has been looking for places that will get a decent return without taking insane risks..."
- "Private Equity is getting more aggressive in the Franchising space because - by the nature of the industry - the companies have to build sustainable business models that are scalable."
- "Most people, when they think about franchising their company, think that their only revenue stream is through franchise fees."
- "When becoming a franchisee, you understand that you have all your marketing material, sales assistance and technology in place. However you need more than proven systems In order to succeed. Just like starting a business from scratch, you need to hire rock star players to be the face of your company."
- "Food is not the only option when it comes to buying a franchise. Especially now a days those “non-sexy” blue collar businesses are really turning a profit in the franchise world."
Links and Resources:
Book mentioned: Essentialism: The Disciplined Pursuit of Less, by Greg McKeown
Reach out to me if you have questions about the boot camp!
You can also reach out to me via email at firstname.lastname@example.org, or on my LinkedIn.
Brought to you by Ryan Tansom of Intentional Growth