Scotty Milas' All Things Considered Franchising Podcast w/ Martin McDermott of Franchise Interviews

Today’s guest on Scotty Milas' All Things Considered Franchising is Martin McDermott.

Martin is the president and founder of Franchise Interviews and a professor at Purdue University, teaching marketing and course leadership.

Scotty and Martin discuss the changes the franchising industry has gone through over the years and how it has become a political topic. They also talk about the importance of doing research before diving into franchising.

Martin talks about how the number of franchising systems has increased since 1999 when there were 1,200 systems. They discuss the pros and cons of the increasing number of franchising systems, and Martin states that what they love about franchising is that it presents an advantage because it provides two important things: the expertise and guidance of a franchisor and the power of a brand name.

Scotty encourages people who are considering franchising to explore all their options.
Scotty and Martin discussed the advantages of buying a franchise. Scotty explained that
buying a franchise is like starting on third base since you are getting a sophisticated system
and strong brand that someone has worked on for a long time.

The two concluded that the number one piece of advice they hear from aspiring entrepreneurs looking to buy a franchise is to do something that they are passionate about. Scotty and Martin are discussing the role of franchising in the life of aspiring entrepreneurs.

Martin points out that franchising is a great way for aspiring entrepreneurs to get their
start, and that they need to do their research and use the guidance of franchise consultants
to make the right decisions. Scotty adds that ego can sometimes get in the way of the
decision process, and that it is important to take a step back and make sure that the
decisions being made are the right ones.

Scotty Milas can be reached at scott@scottmilasfranchisecoach.com and at (860)751-9126.

Martin McDermott can be reached at http://www.franchiseinterviews.com or on LinkedIn: https://www.linkedin.com/in/martinjmcdermottdba/

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