301. Franchising Myths and Realities: Expert Advice From Jon Ostenson
Send us a text Join us on Average Joe Finances as our guest Jon Ostenson discusses the benefits and intricacies of non-food franchise opportunities, touching on Jon's journey from the corporate world to launching Fran Bridge Consulting. Jon shares insights into why non-food franchises can be more stable and less complex compared to food franchises, along with tips for prospective franchisees on how to succeed. The conversation also dives into the tax benefits of business ownership, the import...
Join us on Average Joe Finances as our guest Jon Ostenson discusses the benefits and intricacies of non-food franchise opportunities, touching on Jon's journey from the corporate world to launching Fran Bridge Consulting. Jon shares insights into why non-food franchises can be more stable and less complex compared to food franchises, along with tips for prospective franchisees on how to succeed. The conversation also dives into the tax benefits of business ownership, the importance of networking, the value of following a proven system, and the potential for scaling a franchise business.
In this episode:
- Learn why non-food franchises often offer simpler operations, fewer staffing headaches, and higher margins.
- Discover how semi-passive franchise ownership can help you build a business while keeping your day job.
- Explore the strategic advantage of combining real estate investing with complementary franchise models.
- Understand why following a proven system is the key to long-term success as a franchise owner.
- And so much more!
Key Moments:
00:56 Guest Introduction: John Ostenson
01:35 Jon's Journey into Franchising
02:53 The Appeal of Non-Food Franchises
04:33 Franchising vs. Starting a Business
06:20 Active vs. Passive Franchise Ownership
07:47 Scaling and Success in Franchising
14:03 Real Estate and Franchising Synergies
18:18 The Importance of Networking in Business
18:38 Tax Benefits for Business Owners
19:20 Changes in Tax Codes and Their Impact
20:06 Leveraging Family in Business for Tax Advantages
20:51 The Value of Professional Tax Assistance
22:20 The Power of Masterminds and Franchise Systems
22:37 Learning from Other Franchisees
24:42 The Risks and Rewards of Business Ownership
25:24 Final Round: Reflecting on Business and Finance
27:12 Tips for Aspiring Franchise Owners
28:01 Finding the Right Franchise Fit
29:06 Recommended Books and Podcasts
30:44 How to Connect with Jon and Learn More
32:30 Final Thoughts and Encouragement
Find Jon Ostenson
Website: https://franbridgeconsulting.com/
LinkedIn: https://www.linkedin.com/in/jonostenson/
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