How To Buy A Franchise And The Best Boring Businesses To Own | Jon Ostenson
Millionaire Mindcast
Matt Aitchison Media, Inc
4.4 • 716 Ratings
🗓️ 22 May 2023
⏱️ 31 minutes
🧾️ Download transcript
Summary
In this episode of the Millionaire Mindcast, we have an amazing guest, Jon Ostenson who talks about getting into business ownership, opportunities in different business models, failures and statistics of franchise, building your own empire, and building a generational wealth!
Jon Ostenson is a Certified Franchise Consultant, owner/investor, author, international speaker specializing in the area of non-food franchising, Co-owner and franchisee of 6 fast growing franchises located in Atlanta, Minneapolis, and Miami, CEO of FranBridge Consulting and a top 1% consultant/broker nationally. He authored 'Non-Food Franchising' and is a frequent contributor and thought leader for publications on the topic of franchising and franchise investments. He has been featured in Forbes, Inc. Magazine, Bloomberg, The Franchise Journal, and Franchise Connect.
Prior to FranBridge, Jon was the President of ShelfGenie, a national franchise system with 200 locations. He draws on his experience as both the president of an Inc. 500 franchise system and as a multi-brand franchise in serving his consulting clients that are looking to explore business ownership opportunities. He believes that there’s a better part in business ownership where a lot of people don’t know about it.
Now, Jon is continually helping people in franchising by finding top opportunities, and looking forward to helping more!
Some Questions I Ask:
How did you get into the space of entrepreneurship? What is FranBridge Consulting?
What are some of the trends that you guys are seeing today in terms of entrepreneurship?
Which category would you say maybe overarching larger business models fall into?
How does the franchising model de-reset in some capacities? What makes a successful franchisee who invests in this type of opportunity?
What does the overall paradigm look like for somebody interested in exploring franchise opportunities?
What are some of the mistakes you see franchisees make when stepping into this?
What are some of the models that you think come to an end, and the ones that are exciting that have some potential in the runway going forward?
If you were to pick one franchise, which one would you go with?
Talk about some of the tax benefits that people aren’t necessarily paying much attention to or don’t understand how it reduces your returns as well?
In This Episode, You Will Learn:
Building a business that is resilient to recession.
Active, absentee, and semi-passive businesses.
Tips for successful franchise.
Quotes:
“Business ownerships not only provide cash flow but you’re building an asset that you can sell down the road.”
“Non-trendy is the new trendy.”
“Is there easiest way to make money.”
Connect with Brandon Jon Ostenson on:
Non-Food Franchising book
https://franbridgeconsulting.com
https://www.linkedin.com/in/jonostenson
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | I'd say, you know, we certainly have some massive deals out there, laundromats, |
| 0:03.8 | multi-unit oil changes or what have you. |
| 0:06.4 | But a lot of the things our clients are getting involved in, |
| 0:08.6 | when you look at franchise V, startup, cost, and working capital, all-end group together, |
| 0:13.0 | we're probably in the, you know, 150 to 300 range is very, very common from an all-in investment. |
| 0:19.4 | And the returns, the returns, I think, are what |
| 0:21.9 | get people excited. You know, certainly it's across the board, but you can really deliver some high |
| 0:26.5 | ROI that you can't achieve in the public markets and or many private investments. |
| 0:42.0 | I'm excited to welcome into the show. |
| 0:43.1 | John Austenson. |
| 0:43.7 | How are we doing, brother? |
| 0:45.2 | Hey, Matthew, doing great. |
| 0:45.9 | Appreciate you having me. |
| 0:48.8 | So today's going to be a cool conversation. We've been getting a lot of our listeners very interested, as you and I were talking before, about getting into |
| 0:56.3 | business ownership, owning their own businesses. And there are, you know, so many different |
| 1:02.4 | vehicles and models and ways of going about doing that. I'm curious, before we dig into |
| 1:09.1 | some of that, tell a little bit more about how you got into this |
| 1:13.6 | space, what your industry actually is and consists of, and ultimately what Frambridge |
| 1:19.6 | consulting is. |
| 1:21.1 | Yeah, absolutely. |
| 1:21.7 | So my background, like so many of your listeners, spent many years in the corporate world, |
| 1:25.9 | had a great run, and could have kept doing that forever, but had that itch to do something a little more entrepreneurial and really |
... |
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