Robert Huntington is CEO of Metric Collective, a vertically integrated franchise and technology company. Before Metric he was a BCG consultant, teacher, $50M P&L manager and franchise executive.

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Guest Resource

Metric Collective – Fill out the lead form and let’s chat about franchising.

3 Value Bombs

1) Once you’ve already proven that you can execute the model, that’s when you can start innovating the model.

2) If you have good union economics – if you have something that customers need – and the market is growing, then franchising can be a really attractive route.

3) Franchising means you’re in business for yourself – not by yourself.

Sponsors

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Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Franchising: One of the best innovations since the LLC

[1:25] – Robert shares something that he believes about becoming successful that most people disagree with.

• The truly successful are those who execute whatever motivates them.

[3:09] – Let’s start off with a BOMBSHELL of a question… What is franchising?

• It is a business model that enables the creation of significant wealth.
• Franchising enables expansion rapidly.

[5:06] – Fire Nation = entrepreneurs… Should our listeners buy a franchise? If yes, and how do they find the right one?

• The answer is for sure – but not always. Franchising means you are buying a system, a playbook.
• The key to the success of the playbook is executing it properly.
• Once you’ve already proven that you can execute the model, that’s when you can start innovating the model.

[6:51] – A few questions to answer before choosing a franchise

• Is it a good business?
• Is there a return profile?
• How long is your payback period?
• Is this an industry that is growing?
• Does it deliver long-term value to the clients?
• Is the franchise owned by someone you want to work with?

[10:00] – A timeout to thank our sponsors, HubSpot and Thinkific!

[12:21] – What if we wanted to turn our existing business into a franchise? Is that even possible?

• Questions to answer if you want turn your business into franchise.
  • Are there union economics?
  • Are the fundamentals there?
  • Is it a differentiated thing that customers need?

• There are also personal components to consider. You will go from being in charge of everything, to taking in a number of partners.
• If you have good union economics – if you have something that customers need – and the market is growing, then franchising can be a really attractive route.

[13:57] – What makes for a great franchisor?

• There are two big dimension that we are looking at: earnestness and formidableness.
• Robert shares a story about partnering with Petwell Clinic.

[17:55] – Robert’s key take away and call to action.

• Franchising means you’re in business for yourself – not by yourself.
• If you’ve never look at franchising before, then give it a look.
• Metric Collective – Fill out the lead form and let’s chat about franchising.

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