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407: New Year, New Business?
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Wealth Formula Nation,
Happy New Year! I have a feeling that 2024 is going to be a good year for us.
I think we are going to pick up quality assets at a discount like it’s 2012 and liquidity will come back to the real estate markets.
I’m also eager to develop our own investor platform into a more diverse investment source. Real estate will always be our bread and butter but there will also be other opportunities in which to invest that will be vetted by our world-class due diligence team.
You’re going to new opportunities in sectors like commercial aviation and even business mergers and acquisitions led by Zulfe Ali who used to do that for a sovereign wealth fund.
With the New Year, you might also consider whether you might want to start a business of your own. As you know, I am a strong advocate for business ownership.
And while doing a creative start-up is not everyone’s cup of tea, there are an increasing number of ways to get involved with business utilizing the skills you do have.
One of those options is franchising. We’ve talked about franchising on this show before but I recently met a guy who wrote the most popular book on franchising ever published.
He didn’t try to sell me on franchising at all. Frankly, I left the conversation thinking he probably talked me out of it. But that’s also why the coaching clients he does have seem to do as well as they do.
Is franchising right for you? I think this episode of the Wealth Formula Podcast will really help you figure it out using some very good self-assessment questions. If it is, this could be one of the most exciting years of your life as you embark on a new business venture.
Show Notes:
00:05:50:22 What exactly is franchising?
00:10:36:15 Stats on franchising
00:14:48:02 The personality type that fits franchising
00:21:16:21 Does franchising have to be a full-time job?
00:26:47:09 The scalability of franchising
00:33:14:19 What are people franchising these days?
00:34:34:15 Green flags and red flags