Kim Daly has created nearly 1000 franchisees, and today, she is recognized as one of America’s top franchise consultants. She is the founder and host of KimDaly.tv and Create Wealth through Franchising Podcast.
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Guest Resources
The Daly Coach – Contact Kim, take control of your life and own a franchise.
Kim’s Instagram – Follow Kim on Instagram.
Kim’s LinedIn – Connet with Kim on LinkedIn.
Kim’s YouTube Channel – Subscribe to Kim’s YouTube Channel.
3 Value Bombs
1) Wealth is created in business by multiplication and the more stores you have, the more wealthy you are.
2) Validation is one of the important part of the due diligence process.
3) The business is the vehicle that drives your life to a new place but the gas in that vehicle is the clarity of your goals and dreams.
Sponsor
HubSpot: When you combine the power of Marketing Hub and Content Hub, you can have your best quarter, every quarter. Visit Hubspot.com/marketers to learn more!
Author100: A 100-day program where I will personally guide you 1-on-1 to create, write, publish and market your book! If you want daily guidance and mentorship from me, JLD, then head over to Author100.com to sign up for a free call to chat about the details!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: Create Wealth Through Franchising.
[1:24] – Kim shares something that she believes about becoming successful that most people disagree with.
- Most people believe that strategy is more important than their mindset but she believes that how we think , talk and act is what drives the greatest success in our lives more than the strategy.
[2:03] – Kim talks about the True Value Propositions of a franchise.
- Franchising is for anybody who has the desire to build and scale wealth using business cashling assets.
- Franchising is all about buying down the learning curve of starting a business by partnering yourself with people who already figured out how to make money. Its paying them a fee for all those ready made tools rather than spending 2-3 years trying to figure it out.
- Wealth is created in business by multiplication and the more stores you have, the more wealthy you are.
[4:19] – Kim talks about how much it cost to invest in a franchise.
- Her job is to be a resource who will tell you what is the ideal of what you are looking for. She will use her 20 years of experience and curate a list for you.
- She will give you 3-5 options that matches your criteria and will teach you the due diligence with these companies and get validation from actual franchisees of that opportunity.
- Validation is one of the important part of the due diligence process.
[7:19] – Kim shares more about franchise.
- Franchise is building a national brand together giving you territories to put it up and raise awareness and customers enjoying the experience. Being part of franchise creates more brand equity and multiply the potential exit value.
[10:27] – A timeout to thank our sponsor!
- HubSpot: When you combine the power of Marketing Hub and Content Hub, you can have your best quarter, every quarter. Visit Hubspot.com/marketers to learn more!
- Author100: A 100-day program where I will personally guide you 1-on-1 to create, write, publish and market your book! If you want daily guidance and mentorship from me, JLD, then head over to Author100.com to sign up for a free call to chat about the details!
[13:16] – Kim talks about why franchises fail.
- People fail in franchise because of the strategy and they lose sight of their goals and dreams. It has nothing to do with the franchisor.
- The business is the vehicle that drives your life to a new place but the gas in that vehicle is the clarity of your goals and dreams.
- If you find your vehicle not moving, you have to check your gas tank with big clear goals. Are you leading your team with a purpose or created a culture that inspires and give to the community.
- Most franchises are focused on what’s not their’s to control.
[15:42] – Kims breaks down the types of businesses that are franchises.
- Many think franchises is mostly food and retail but she has created 1000 franchises in her life and only a dozen of them are in food.
- There are all kinds, B2B, products and services and anything that caters to the home owners.
- What creates a good business that creates a franchise is a business that has a niche and can deliver their products and services in a unique way. It can be beauty services that are defined as hi-tech companies.
- You need to expand your mind to what a franchise is.
[18:35] – Kim talks about generational wealth and how we can both build and scale wealth in a franchise.
- Wealth is created through scales. Its all about how we leverage our time and scale using teams of people, trucks or equipment, brick and mortar and locations.
- Building generational wealth has 2 ways to accomplish. You can have cash flowing assets in your portfolio like Laundromats or self storage where you put your money in to and just let it do its thing and you can have time to have other businesses in your portfolio. You can diversify your cash flowing assets.
- Generational wealth’s definition is up to the investor. For her, the legacy she wants to leave her boys her being a role model and not the business. So her definition of generational wealth is to be the role model to your children who dared to jump of that cliff and follow your dreams whether it is work or not. Bring them with you ato the job site and let them get their first job in your business that is a greater generational legacy.
[22:00] – Kim gives her key take away.
- You don’t need an MBA or a prior business ownership experience in order to go, build and scale wealth. If you are a franchise, don’t let anything limit your dream.
[22:36] – Call to action.
- The Daly Coach – Contact Kim, take control of your life and own a franchise.
- Kim’s Instagram – Follow Kim on Instagram.
- Kim’s LinedIn – Connet with Kim on LinkedIn.
- Kim’s YouTube Channel – Subscribe to Kim’s YouTube Channel.
[23:23] – Thank you to our Sponsor!
- HubSpot: When you combine the power of Marketing Hub and Content Hub, you can have your best quarter, every quarter. Visit Hubspot.com/marketers to learn more!
- Author100: A 100-day program where I will personally guide you 1-on-1 to create, write, publish and market your book! If you want daily guidance and mentorship from me, JLD, then head over to Author100.com to sign up for a free call to chat about the details!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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