Franchising Your Business For Growth — Lance Graulich
There are plenty of ways to grow your business, but until you’ve worked out your strategy, it can be really hard to scale. One strategy makes funding growth much easier — franchising.
Joining the show today is Lance Graulich. Known as the “King of Franchising,” Lance is the CEO of ION Franchising, an industry-leading franchise consulting and development group that represents over 800 franchise brands and business opportunities in every imaginable category. He’s also the host of the Eye on Franchising Podcast. Lance has helped over 1,000 people go from “Wannabe” Entrepreneurs to Franchise owners with his work and has helped Franchises such as TGI Fridays grow to over $225 million in revenue.
Franchises, and optimized businesses in general, aren’t about the business, they’re about the people. Successful leaders look for the people who know how to get the job done and build a great business up from there. From the bald guy who owns hair salons to the garage door franchisee who just exited for $98 million, franchises provide a perfect opportunity to develop an empire without having any specialized knowledge of the business.
Lance has insights into avoiding failure as well. In any franchise selection process, there are people to meet and questions to ask to determine whether it’s the right fit for you. He also covers scaling tactics, innovation strategies, and the power of choosing a franchise over the slow, organic growth of the traditional stand-alone company.
Interview Links:
Resources:
Scaling Up Summits (Select Bill Gallagher as your coach during registration for a discount.)
Recruiter.com Short List (use code scaleup)
Scaling Up is the best-selling book by Verne Harnish and our team for Scaling Up Coaches (formerly Gazelles). We share how the fastest-growing companies succeed where so many others fail.
Bill Gallagher, Scaling Coach and host of the show, is an international business coach who works with C-Suite leaders to achieve breakthrough growth.
We help leadership teams with the biggest decisions around People, Strategy, Execution, and Cash so that they can Scale Up successfully and beat the odds of business growth. Scaling Up is based on Verne’s original best-selling business book, Mastering the Rockefeller Habits.
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