Jon Ostenson on Mastering the Franchise Business Model

In this episode, Dave Lukas interviews Jon Ostenson, the nation's number one national franchise broker, about the power of franchising as a pathway to entrepreneurial success. Jon shares his own journey from the corporate world to becoming a franchise owner and consultant, and explains why franchising can be a great option for aspiring entrepreneurs. He discusses the benefits of franchising, including the support system, proven business models, and potential for higher resale value. Jon also offers insights into evaluating franchise opportunities, including the importance of understanding the franchise agreement and assessing the support and training provided by the franchisor. He emphasizes the value of non-food franchising and highlights various non-food franchise examples. Jon concludes with his Misfit 3, which includes advice on health, relationships, and finance for entrepreneurs.

0:12 Introduction to the episode and guest, Jon Ostenson
0:18 Dave Lucas explains the purpose of the Misfit Entrepreneur podcast
0:23 Jon Ostenson's background and experience in franchising
1:04 The benefits of franchising and why it may be a good option for entrepreneurs
3:00 How to evaluate a franchise and find the right one for you
5:00 Key areas to evaluate in a franchise agreement and franchise disclosure document
7:00 The importance of support and training in a franchise system
10:05 The concept of non-food franchising and its advantages
11:45 Examples of non-food franchises in various industries
14:05 Real estate investors as a good fit for franchising
16:10 Funding options for franchise ownership
20:20 Mistakes to avoid in franchising, such as choosing the wrong partner
23:45 Lessons learned as an entrepreneur: having a plan, surrounding yourself with smart people, and taking action
28:37 The Superhuman Protocol for health and wellness
30:45 The power of mastermind groups and the value of joining organizations like EO
34:02 Integrating children into the family business and using it as a financial opportunity for their future
35:10 Where to learn more about Jon Ostenson
36:19 Conclusion and closing remarks
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