The SmallBizChat with Melinda Emerson
A series focused on small business advice and strategies, by Melinda Emerson, known as "SmallBizLady", discussing various aspects of entrepreneurship and small business management. Get insights from experts about topics relevant to small business owners.
How to Franchise Your Business with Alicia Miller
Melinda Emerson and guest Alicia Miller discuss the essentials of franchising a business. Topics include Alicia's background, key factors in franchising, initial steps, capital requirements, and setting franchise fees. Alicia also shares the best business advice she's received.
Key Points
- Entrepreneurs should ensure their business model is unique and has sustainable customer demand before considering franchising.
- It's crucial to have multiple corporate units running successfully to validate the model and provide cash flow before selling franchises.
- Building a collaborative community within the franchise network is essential for fostering relationships and sharing best practices.
Alicia Miller is the Managing Director of Emergent Growth Advisors. She helps new franchise brands launch strong from the start and also works with mid-stage brands seeking a private capital partner to accelerate enterprise growth. She’s also the author of the new book, Big Money in Franchising. For more information: https://www.emergentgrowthadvisors.com
Chapters
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| 12:41 | |
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| 18:06 |
Transcript
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