• #149: History of Franchising – Making Millionaires

  • Apr 17 2024
  • Durata: 17 min
  • Podcast
#149: History of Franchising – Making Millionaires copertina

#149: History of Franchising – Making Millionaires

Ascolta gratuitamente

Vedi i dettagli del titolo

  • Riassunto

  • Stephen and Dave right a wrong from a previous episode and dive deep into the history of franchising. A system for making millionaires. Dave Young: Welcome to The Empire Builders Podcast, teaching business owners the not so secret techniques that took famous businesses from mom and pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I'm Stephen's sidekick and business partner Dave Young. Before we get into today's episode, a word from our sponsor, which is, well, it's us, but we're highlighting ads we've written and produced for our clients. So here's one of those. [BWS Home Services Ad] Dave Young: Welcome back to The Empire Builders Podcast. I'm Dave Young, I'm with Stephen Semple. And Stephen just whispered the topic into my ear and I missed something. Stephen, you said franchise and I didn't quite catch what franchise we're going to be talking about. Stephen Semple: We're going to talk about a little bit of the history of franchising. Dave Young: The idea here is the idea of a franchise, the business model, if you will. Stephen Semple: Yeah, because if we think about the concept of this podcast as we're talking about empires, how many business empires today would not exist if it wasn't for the concept of a franchise where you create something and you license to that person the right to operate? And it's grown today into being the business model and all those other things. It has allowed numerous numbers of ordinary citizens to own successful businesses and generate wealth. It has also created a way for businesses to grow rapidly because of the fact that they're able to leverage the person's interest, hardworking expertise, and money in order to grow these businesses. Especially in the restaurant space, there's no way companies like McDonald's and Wendy's and all of these other businesses would've been able to grow at the rate that they grow if franchising had not been created, perfected, developed, and modernized. And those things have a journey that they went on as well. Dave Young: Those two key points you mentioned, it gives the average person an opportunity. If you can scrape up enough money to buy a franchise, you now own a business. Stephen Semple: Correct. Dave Young: And if you own a business, you created a business and you want to quickly expand to multiple markets, you can do it with other people's money by giving them their piece of their own little location as opposed to going and borrowing it all or doing some kind of a public offering, those kinds of things, an alternate way of growing fast. Stephen Semple: A really interesting Netflix show to watch, and it's not a documentary, but it's actually pretty accurate, is The Founder with Michael Keaton. Dave Young: Yeah, the Ray Kroc story. Stephen Semple: Yeah, the Ray Kroc story. And one of the things that Ray Kroc discovered was the best franchisees, so franchisees are the people purchasing the franchise were actually common, everyday hardworking folk who wanted to make a better life for themselves. And buying a McDonald's franchise was that avenue that actually made a better life for them. And they were the best source of franchisees, not rich folks who are looking for investments. And look, Chick-fil-A. Chick-fil-A today, it's very difficult to become a Chick-fil-A franchisee because they want to look at it and say, do you fit in? Are you that type of person? Will you actually be a great part of this family? And in Culver Restaurant, which I forget what episode Culver Restaurant is, we talked about how Culver, it's really, really important to them that basically franchisees really fit into what's being created. I think it's worth exploring the history of franchising. And I have to right a wrong, because back in episode 94, we talked about Martha Harper, and I referred to the fact that Albert Singer was the first commercial franchise.
    Mostra di più Mostra meno

Sintesi dell'editore

Stephen and Dave right a wrong from a previous episode and dive deep into the history of franchising. A system for making millionaires. Dave Young: Welcome to The Empire Builders Podcast, teaching business owners the not so secret techniques that took famous businesses from mom and pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I'm Stephen's sidekick and business partner Dave Young. Before we get into today's episode, a word from our sponsor, which is, well, it's us, but we're highlighting ads we've written and produced for our clients. So here's one of those. [BWS Home Services Ad] Dave Young: Welcome back to The Empire Builders Podcast. I'm Dave Young, I'm with Stephen Semple. And Stephen just whispered the topic into my ear and I missed something. Stephen, you said franchise and I didn't quite catch what franchise we're going to be talking about. Stephen Semple: We're going to talk about a little bit of the history of franchising. Dave Young: The idea here is the idea of a franchise, the business model, if you will. Stephen Semple: Yeah, because if we think about the concept of this podcast as we're talking about empires, how many business empires today would not exist if it wasn't for the concept of a franchise where you create something and you license to that person the right to operate? And it's grown today into being the business model and all those other things. It has allowed numerous numbers of ordinary citizens to own successful businesses and generate wealth. It has also created a way for businesses to grow rapidly because of the fact that they're able to leverage the person's interest, hardworking expertise, and money in order to grow these businesses. Especially in the restaurant space, there's no way companies like McDonald's and Wendy's and all of these other businesses would've been able to grow at the rate that they grow if franchising had not been created, perfected, developed, and modernized. And those things have a journey that they went on as well. Dave Young: Those two key points you mentioned, it gives the average person an opportunity. If you can scrape up enough money to buy a franchise, you now own a business. Stephen Semple: Correct. Dave Young: And if you own a business, you created a business and you want to quickly expand to multiple markets, you can do it with other people's money by giving them their piece of their own little location as opposed to going and borrowing it all or doing some kind of a public offering, those kinds of things, an alternate way of growing fast. Stephen Semple: A really interesting Netflix show to watch, and it's not a documentary, but it's actually pretty accurate, is The Founder with Michael Keaton. Dave Young: Yeah, the Ray Kroc story. Stephen Semple: Yeah, the Ray Kroc story. And one of the things that Ray Kroc discovered was the best franchisees, so franchisees are the people purchasing the franchise were actually common, everyday hardworking folk who wanted to make a better life for themselves. And buying a McDonald's franchise was that avenue that actually made a better life for them. And they were the best source of franchisees, not rich folks who are looking for investments. And look, Chick-fil-A. Chick-fil-A today, it's very difficult to become a Chick-fil-A franchisee because they want to look at it and say, do you fit in? Are you that type of person? Will you actually be a great part of this family? And in Culver Restaurant, which I forget what episode Culver Restaurant is, we talked about how Culver, it's really, really important to them that basically franchisees really fit into what's being created. I think it's worth exploring the history of franchising. And I have to right a wrong, because back in episode 94, we talked about Martha Harper, and I referred to the fact that Albert Singer was the first commercial franchise.
Mostra di più Mostra meno

Cosa pensano gli ascoltatori di #149: History of Franchising – Making Millionaires

Valutazione media degli utenti. Nota: solo i clienti che hanno ascoltato il titolo possono lasciare una recensione

Recensioni - seleziona qui sotto per cambiare la provenienza delle recensioni.

Recensioni da Audible.it

Recensioni da Amazon
Non ci sono recensioni disponibili