Steve Miller returns to provide practical advice on determining if franchise ownership is the right path for you in the world of entrepreneurship. Are you frustrated enough to make a go of it in the wild and oftentimes difficult world of small business ownership? For most home service-based franchise opportunities, Steve recommends having at least $170K in liquid form to weather the first year of getting the business off the ground. The two main reasons franchise ownership fails are a lack of demand for the product or service and a lack of liquid capital. Food businesses are the toughest to start and grow, but franchising offers you a way to research the business and the people involved before making a decision. Check out this episode for great information that will help you make a solid decision. Did you know our amazing voices can go beyond just the microphone? Yes, we have video! Subscribe to our YouTube channel here!
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GOLD NUGGETS:
(00:00) - Small Business Safari Adventure Team
(11:04) - Carer Transition and Entrepreneurship Factors
(20:45) - Small Business Funding Options Discussion
(33:13) - Franchise Success and Partner Selection
(46:28) - Reasons for Franchise Failure
(53:21) - Exploring Possibilities and Opportunities for Success
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Steve’s Links:
Website | https://myfranchisenavigator.com/Â
LinkedIn | https://www.linkedin.com/in/stevemiller7/
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Books Mentioned:
The Bible
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Previous guests on The Small Business Safari include Amy Lyle, Ben Alexander, Joseph Sission, Jonathan Ellis, Brad Dell, Chris Hanks, C.T. Emerson, Chad Brown, Tracy Moore, Wayne Sherger, David Raymond, Paul Redman, Gabby Meteor, Ryan Dement, Barbara Heil Sonneck, Bryan John, Tom Defore, Rusty Clifton, Duane Johns, Beth Miller, Jason Sleeman, Andy Suggs, Chris Michel, Jon Ostenson, Tommy Breedlove, Rocky Lalvani, Amanda Griffey, Spencer Powell, Joe Perrone, David Lupberger, Duane C. Barney, Dave Moerman, Jim Ryerson, Al Mishkoff, Scott Specker, Mike Claudio and more!
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