Is Your Business “Franchiseable?” with Rick Morgin | Live with Bottleneck
On today’s Live with Bottleneck, our guest Rick Morgin talks about how franchising businesses, and if your business is franchiseable. We also talk about what steps you could take if you plan to make your business into a franchise in the future.
Rick Morgin is a Consultant with The Franchise Consulting Company. They assist clients with the educational process of researching and selecting available franchise businesses that best suit desired lifestyles and financial goals. The research, qualification, and application service they provide is free; their fees are paid by the Franchise company when a client opens their business.
So if you want to learn more about franchises and how they work, stay tuned to this episode.
Who is Rick Morgin?
Rick Morgin had a long corporate career in the beverage industry. He has sold, marketed, and financed wine, beer, and spirits. But as the years passed, he found himself repeating the same things over and over again.
I was just saying to myself, “okay man, do you want to go through this process again?” I thought, maybe there’s something that you can take your experience, your skills and apply it to something different.” – Rick Morgin
He later found himself in a networking meeting and met a woman who had left her banking and financing career that was also starting out in the franchising industry. Three months later, he was hooked to franchising, and never looked back.
Rick Morgin on Franchising
Rick explains that there is more to franchising than just food and retail stores. If one has a business that can thrive in different areas, and is not just a niche in a specific market, chances are that it could be franchised.
One of the ideas that Rick gives is a business that produces a certain solution that can lessen the consumption of water on carwashes. That idea not only can be sold in different areas, but also helps those particular areas with drought, or doesn’t have access to huge reserves of water.
Fostering an Ecosystem of Franchisers
Rick talks about having an ecosystem of business owners that he and his team educates with regards to not only becoming a franchise, but growing it and expanding it to other markets.
Aside from that, they also play host to several expos that help create networks between fellow franchisers, and create connections with other business owners. Some of these interactions could lead to partnerships, or even expanding franchises to other markets and services in the long run.
Rick and his team provide these business owners with the chance to create leads on their own, and at the same time, encourage them to educate other business owners who might want to expand and take their business to the next level.
To hear more from Rick Morgin and how to find out if your business is ready for franchising, continue listening to this episode.
Bio
Rick Morgin is a Consultant with The Franchise Consulting Company. They assist clients with the educational process of researching and selecting available franchise businesses that best suit desired lifestyles and financial goals. The research, qualification, and application service they provide is free; their fees are paid by the Franchise company when a client opens their business.
Connect with Rick Morgin!
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About Jaime Jay
Meet Jaime Jay – a man who wears many hats, and wears them all admirably. He's a master connector, an entrepreneur extraordinaire, and a published author who knows how to get things done.
Before he found his way to the business world, Jaime served his country as a brave paratrooper in the U.S. Army. But that's just the beginning of his many accomplishments.
He's the founder of the renowned Bottleneck Distant Assistant Services firm, and his book "Quit Repeating Yourself" has become a must-read for entrepreneurs everywhere.
When he's not busy building his empire, you can find him on his beloved Harley Davidson, cruising through the countryside and taking in the invigorating effects of Uitwaaien – a Dutch practice that involves facing the wind to boost health and relieve stress.
He enjoys spending his free time outside building stuff with his wife, Nikita the dog and their two kittens (for now at least) Tommy and Tater.
He is ‘over-the-moon’ happily married to his wonderful wife Sara, his amazing daughter, Jessica, who is serving our country as a United States Army soldier. Jaime and Sara are the proud grand parents of two beautiful little girls.
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Quit Repeating Yourself provides guidance for entrepreneurs, business leaders, and managers to help prevent unknown challenges from ruining their business.
