In the bustling world of franchising, understanding and maximizing your Return on Investment (ROI) is crucial for success. The latest episode of "What's Your Next" podcast dives deep into this topic, offering invaluable insights for aspiring business owners. Hosted by the dynamic duo, Dave and Stacey Riska, this episode not only educates on the financial aspects of franchising but also emphasizes the importance of aligning your investment with your personal goals.
Key Takeaways:
Understanding ROI in Franchising: ROI isn't just about the numbers; it's about how your investment brings you closer to your personal and financial goals. The hosts introduce a user-friendly ROI calculator available on their website, designed to demystify the process of calculating your franchise's potential return.
The Importance of Prequel Knowledge: Before diving into ROI calculations, the hosts recommend revisiting the two preceding episodes. These episodes lay the groundwork on ROI basics and their significance, ensuring listeners are well-prepared to utilize the ROI calculator effectively.
A Deep Dive with the ROI Calculator: The episode walks listeners through a step-by-step guide on using the ROI calculator. From initial investment figures to calculating net profit and understanding fixed and variable costs, the tool is designed to provide a comprehensive view of your potential franchise earnings.
Scenario Analysis for a Realistic Outlook: Stacey advises listeners to run multiple scenarios (good, better, best) through the calculator. This approach helps in preparing
- The Non-Monetary Returns: Beyond the tangible financial returns, investing in a franchise should resonate with your personal 'why'. Dave and Stacey highlight the importance of considering what you gain in terms of personal satisfaction and alignment with your values.
Future Planning: The discussion concludes with a reminder of the importance of long-term planning. A five-year outlook using the ROI calculator can offer a more realistic picture of your investment's growth potential.
Future Planning: The discussion concludes with a reminder of the importance of long-term planning. A five-year outlook using the ROI calculator can offer a more realistic picture of your investment's growth potential.
Summary Points:
ROI is More Than Numbers: It's about aligning your investment with your life goals.
Preparation is Key: Understanding the basics of ROI is crucial before using any tools.
The ROI Calculator: A step-by-step guide helps demystify the process.
Run Multiple Scenarios: Prepare for various outcomes to better evaluate franchise opportunities.
Consider Non-Monetary Returns: Align your investment with your personal 'why'.
Think Long-Term: A five-year outlook provides a realistic view of your investment's potential.
Time Stamp Summary:
00:00 - Introduction to maximizing franchise investment.
00:17 - Overview of the podcast and its relevance for aspiring business owners.
00:52 - Importance of revisiting prequel episodes for foundational knowledge.
01:27 - Introduction to the ROI calculator and its significance.
02:02 - Discussion on non-monetary returns from franchising.
02:44 - Detailed walkthrough of using the ROI calculator.
03:16 - Advice on running multiple scenarios for a comprehensive evaluation.
03:44 - Explanation of ROI and its calculation.
15:41 - Conclusion and encouragement to explore the ROI calculator further.
16:05 - Final thoughts on the importance of understanding both tangible and intangible aspects of franchising.
This episode of "What's Your Next" is a must-listen/watch for anyone looking to dive into franchising. With expert guidance, listeners are equipped to make informed decisions, ensuring their franchise investment is not only financially sound but also personally fulfilling.
If you need assistance understanding the Franchise Disclosure Document (FDD) or Return on Investment (ROI) to help you acquire a franchise, please reach out.
If you need assistance understanding the Franchise Disclosure Document (FDD) or Return on Investment (ROI) to help you acquire a franchise, please reach out.
What's Your Next? - Podcast
 | Author BioI’m Stacey Riska aka “Small Business Stacey”, your franchise placement specialist. I help aspiring business owners find the PERFECT franchise so they can get to the next level in life and business. |
