What Are The Best Franchises to Start Right Now with Kim Daly

Want to start a business, but are you lost on where to start? Franchising could be for you!

In this model, the basic structure and support for your business is built for you! But choosing the right franchise is CRUCIAL to your success. That’s why I invited on to the show for a second, maybe even third, time, long-time friend and respected franchise coach, Kim Daly.

Kim delves deep into what makes or breaks a franchise and what opportunities are golden right now in franchising.

Listen now and learn how to pick the right, most profitable franchise for you!

Passive income is in your future. CLICK HERE to see your number: https://bit.ly/3IN7KRP

Listen HERE or watch on YouTube: CLICK HERE!

TRANSCRIPTS:

Speaker 1 (00:00):

$200,000 a year in passive cashflow, right? And then somebody else is like, I don’t even need all that money. I just want my time freedom. I just need this much money to live off of and I’m happy, right? So everybody’s definition of wealth is so different.

Speaker 2 (00:13):

Franchise is not much different. If you want more hands off, it’s going to require more capital. Typically

Speaker 1 (00:18):

The first year on year cash return is like, it’s amazing. So if you’re like a, Hey, I’m an inventor, I want to do it my way kind of person. Franchising is probably not for you.

Speaker 3 (00:31):

Chris Miles was able to retire twice by the time he was 39 years old. But he’s not content to just enjoy his own financial freedom and peace of mind. Chris wants you to have your own ripple effect so you can live free today. He’s not the financial advisor you expected. He’s the anti financianal advisor you deserve. He’s jumping behind the mic right now, ready to make waves. Here’s Chris Miles.

Speaker 2 (01:02):

Hello my fellow Ripples. This is Chris Miles, your cashflow expert and anti financianal advisor. Well, I’m going to show that’s for you. Those that work so hard for your money and you’re now ready for your money to start working harder for you today. You want that freedom. You want that cashflow right now. You don’t want to have to wait 30 or 40 or 50 years from now if you’re lucky. You want that lifestyle today so you can live that life that you love with those that you love. But it’s not just about getting rich because as you grow financially, as you become more wealthy, more free, you have a greater capacity to bless the lives of those around you. That is the ripple effect I’m here to create today. Thank you for tuning in, guys. Appreciate you binging, sharing these episodes. And you know what?

(01:41)
And just be an awesome guest because yes, you’ve pushed us in the top 0.5% of podcasts nationwide or worldwide even for that matter. So put that in perspective guys. I think there’s something roughly like three point some odd million shows that puts us in the top 30,000 of shows. So thank you so much for being a part of this today. As a reminder, if you have not done so already, go check out our website, money ripples.com. Many of you have questions, whether it’s about infinite banking, passive income, all that can be found there. Go ahead and go down that rabbit hole and check that out now. Hey guys, so I’m bringing back a guest who I think is, it might be our third time having her on this. It might be the third time’s a charm for Kim Daly here. If you haven’t been listening to this show or watching this show for the last year probably, we actually had to had Kim on recently before, but she’s really like, I would call her the franchise matchmaker, right?

(02:32)
She is the person. If you’re looking for a franchise, if you could have a business, by the way, a business, you can even use an IRA to invest from, which you cannot do normally when you start a business, but if you’re looking to actually have a system that’s already in place, kind a plug and play type of situation here, an actual real business that can pay you great income, that is exactly what Kim matches you up with, right? She’s been doing this for over 20 years, been helping people do this for a long, long time, one of the top consultants in America, really helping people do that. So excited to have her here. And as we were talking about on the air, she’s a huge gym rat or enthusiast, maybe gym rats has a negative connotation, but either way, it’s so good to a little rat. So it’s so good to have you here today, Kim.

Speaker 1 (03:18):

Thank you. It’s a pleasure to be here. You know what, I love how you said binging on your content. I remember the first time I was going to be your guest and I was cleaning my pool and I was outside and I listened to one episode and I started binging them all. I can say that I have been a money binging content for a while.

Speaker 2 (03:38):

Oh, that’s awesome. Well, I appreciate you being here. Well give us a little bit of background for those that are new. Tell us a little bit just to fill in the gaps, tell us a little bit more about you, Kim.

Speaker 1 (03:47):

I love it. And I’ll start out by saying I’m an alternative investor. I use infinite banking to fund this business when I need it and other passive investments that I have. So I couldn’t speak to anybody out there that’s trying to build these diversified portfolios, how does a business fit into that? But as Chris mentioned, for the last 22 years, I have been a franchisee of a company called Franchise. My franchise is to help you find the perfect franchise that will help you reach your personal, professional and financial goals. So I’ve been so blessed by this industry. It’s like I do charity work in a way because I just love to give back. The franchise industry has completely changed my life. I was an entrepreneur before that and I was successful, but not nearly as successful as what I’ve achieved over the last 22 years, and that’s really what I love to talk about and share with people.

Speaker 2 (04:39):

Well, let me ask you a question here. Why should people tune in and listen to the rest of this episode? What is it that you’re going to give that’s so important?

Speaker 1 (04:46):

Well, so when you think about building a business, most people understand that 90% of millionaires own their own business. But starting a business from scratch is a very arduous task. In fact, the easiest people to convince Chris of a franchise, the value of a franchise are former entrepreneurs including Kim Daly. So if you scratch before you’re like once in a lifetime is probably enough, even if it was successful, it’s just hard. And a lot of times where we are in our life, we just don’t want all three to five years if that’s what it takes to kind of toil and struggle and try to figure out the model when you can just paint somebody a franchise fee and get instant access to ready-made tools. So the answer to your question is you have to have the burning desire to want to be a business owner in your local community.

(05:36)
That doesn’t mean you have to be an active full-time owner or an active full-time owner forever, but the passion to build a business, create jobs, create tax advantage, create another cash flowing asset, but an asset that you fully own and control and then you add in the franchise. On top of that, we’re buying down that learning curve. We’re partnering ourselves with people and that statistically buys up the success rate. And then we are connected to this network of franchisees and like-minded people who can be our accountability partners and our coaches because as it does get hard, you find yourself feeling like, did I make the right decision? How do I get myself out of this rabbit hole? But now in a franchise, there’s this whole network of other people that you can reach out to either hold you accountable or to be like, Hey, you’re doing better than me. What am I doing wrong? You’re not just out there fumbling around in the dark trying to figure it all out on your own.

Speaker 2 (06:35):

So true. And this is not just getting another McDonald’s or another crumble cookie type of situation. This is something that’s actually really surprisingly, it’s like sometimes it could be brick and mortar, could be service-based businesses, but these are the kind of businesses you may never have heard of. Correct?

Speaker 1 (06:50):

Correct. Chris. I am the queen of the business that people are like, it’s a franchise. So as one of America’s top franchise consultants, I love to tell people, shockingly, you’ll have to beg me to show you food. It’s not that I don’t have it in my inventory. Trust me, that’s what everybody thinks franchising is. There are just faster, easier, better ways to make money where you get a better quality of life. Nothing about a food-based business speaks quality of life. It speaks lots of time, lots of employees, minimum margins. Again, they’re just faster, easier, better ways in a lot of the things that I love to focus on are in services. Some of them, like you said, have a brick and mortar location. So for example, in the holistic health space, you could do, could do holistic health like infrared light or IV drip bars or even a gym, fitness wellness centers like med spas to non brick and mortar things.

(07:49)
And there’s a wide array of stuff there from home services to business to business services. So depending on the person I’m working with and what environment you feel is inspiring, some people are inspired by having a location that they drive by and go, that’s my business. And then others are like, I like being the millionaire next door where nobody really knows what I do and I don’t care if it’s garbage picking up garbage. So the range of options that we have to play with are so vast. Finding the right business is not for you. It may seem daunting for me, that’s what I’ve spent the last 22 years doing. So I just need the person whose heart is open and ready to say, I don’t know if I want to own a business, but it’s like an itch. I got to scratch. I don’t know if I have what it takes, but I want to learn. I don’t know if I can afford it, but I’m willing to go down the path. What kind of money can I make? And that’s really what I want. Chris is just an open mind that says, teach me and I’ll just guide you down the path. And whether it’s yes or it’s no, that’s less relevant, it’s just more about teaching you so you can get educated and hopefully if it works out, saying yes to a franchise is the natural thing to do when you’ve asked enough questions, when you’re satisfied with enough of the answers.

Speaker 2 (09:09):

Yeah, I remember in 2020 you and I were working together on some stuff where you were saying, well, what are your passions? What are some things you like or love? And so I remember one of ’em was a specific type of running club where it had this special high tech type of treadmills and stuff. I was like, Ooh, that could be cool even just for me. And I remember we were looking at, remember you asked me the ego question, do you care how you make money? I said, no, I don’t. She’s like, alright, well here’s a junk hauler. It’s like the competitor to win hundred got junk. Here’s a junk hauler. You’re like, this one’s really profitable. And then there’s this one over here if you want to rent space to hairstylists and people like that. And so there’s all these different options, kind of like a real estate, quasi real estate type of thing. And I ended up, of course just end up doubling down on money ripples. It kind of got me clarity there. I was like, I’m going to go this direction instead. But I mean it was fascinating just to see just how many different options there really are.

Speaker 1 (10:04):

Well, what you just said is the best part. It helped you get more clarity that where you were was exactly where you wanted to be. And that’s amazing the fact that my process helps you. What will sometimes happen is people will come and they’re in a state of career transition or just like what’s next and the process because I begin with the end in mind and we spend so much time focused on what are you trying to create? I’m sure you do this. How do you build a financial plan unless you know where you want to end up? Because wealth is so different for everybody. Some people want to be multi-millionaires and they want it on paper, they want the net worth. And then other people are like, I don’t care about the net worth. I want $200,000 a year in passive cashflow. And then somebody else is like, I don’t even need all that money.

(10:50)
I just want my time freedom. I just need this much money to live off of and I’m happy. So everybody’s definition of wealth is so different, and that’s what makes what I do so fun is just hearing all the stories and then backend that into my knowledge and 22 years of relationships with franchisors. Right before we were recording, I was actually on a training call with an oldie but a goodie. This franchise has been around for a really long time. I 100% know about it, but we’ve never been partnered with them. And so we just had a training call today to add them into our inventory. So that’s kind of fun.

Speaker 2 (11:24):

And I think a lot of people on this show, I think they really do kind of relate to. It could be like they’re in transition, but sometimes they just want that time freedom. And I know one thing we don’t often talk well that we do often talk about in this show is that we talk about being work optional. Because retirement for a lot of people, even for me, even when I think about just retiring to do nothing sounds miserable. And I know that from personal experience done it. I’ve been that place before where it’s just

Speaker 1 (11:49):

Miserable. Yeah, I think you retired four or five times, Chris before you were like 35

Speaker 2 (11:55):

And then consider it a few times. But yeah, once I did it after the second time, I realized I got to do something that I can be passionate about. And it was funny. I was coming from the airport or going to the airport from California to fly back to Salt Lake and the Uber driver, I talked to him, he says, A lot of people wouldn’t know this by looking at me, but he’s like, actually, I don’t even need this work. He’s like, I just do it because I get to meet really interesting people. I can talk and maybe even help somebody out along the way. He’s like, honestly, I make all my money from merchant account services. He’s like, I have a lot of clientele I manage and help with. It’s all pretty much residual income. I’m just getting paid and I’m just doing this to fill my time. And so that’s his own little private business. He’s an independent contractor within Uber and Lyft. But that’s the kind of same thing we’re talking about here, isn’t it? And to some level or degree,

Speaker 1 (12:41):

Totally, you do not have to buy yourself a job. There are definitely those franchises. The one we just got trained on is more for a person that wants to be in on the ground floor sleeves rolled up, interacting with customers, not even really building a large team. Actually, that business is going to appeal to people that want to be in business without a team of people. But then you have other businesses where the owner, it comes in as the executive who hires a general manager from day one and is leading his team leveraged through systems and maybe even a big brand and a location. And then other people that I’ve worked with through you, Chris, have invested in laundromats, which is almost totally passive once it’s up and operating. I don’t want to use the word passive, passive, but I don’t think a business is ever totally hands off.

(13:29)
I own land that’s passive. It’s building equity for me. I’m not doing anything with it. But a business, even a laundromat, while you don’t have to be there every single day, I think you do have to check in. You have to make sure that you’re collecting all your coins. You might have one or two part-time attendants who are maybe running a drop off cleaning or they fold the clothes and launder them and fold them and then that kind of a thing. But it’s not like you’re busy all the time. And the salon suite model that you mentioned, I’m the queen of the Salon suites, and I love that model because it looks and feels like a real estate investment, but it has business cash flowing returns and it’s long-term sustainable. And eventually I could own the building on top of the business. It has so many characteristics for real estate investors that it checks so many boxes.

(14:22)
The first year on year cash return is like, it’s amazing. So there’s something out there for everybody. And again, if you’re out there on your own, the reason that franchisors pay me, this is a free service. I’m paid by franchisors and they love me to do what I do because I’m going to get you qualified. I’m going to get you all your expectations in line and match you with the right option. Like franchisors will say to me, oh, Jim, you always find the best people for us, or your people are the most prepared of any candidates we get, and I love that, that I take pride in my work and don’t you want to be that person? You don’t want to be fumbling around when a franchise is ultimately Chris. They’re awarded, they’re not sold good franchisors. They’re just selling a franchise to anybody who will fog up a mirror because that’s a nightmare potentially, right?

(15:15)
It’s a mutual evaluation. They’re looking for brand ambassadors, right? Yeah, yeah. They’re looking for people that are going to wear the shirt and carry the flag from whatever extent that company needs that. Again, some full-time, some semi absent, some more toward the absent, but finding that option on your own when there’s so many options. I don’t know how anybody does that with any real confidence, but when you come to me, that’s what I do. And in one to two months we’re done. You’re signing. If this is for you, you are onto your business within four to eight weeks. And if it’s not for you, we’re all going to figure that out very quickly. It takes me about one to two weeks to help you figure out it’s a no and about one to two weeks, one to two months to help you get to the yes.

Speaker 2 (16:06):

Yeah, I love that. One thing that I know was kind of a surprise to me, or maybe clarifying for me to understand is that like you mentioned, there’s varying degrees of, I dunno if I want to call it passivity passiveness. There’s varying degrees of that, which I mean it’s never really fully passive, so to speak, even if it’s more active upfront with a little bit of extra labor, like you said, hire general manager. But one thing you taught me that stuck was that the more passive you want it, the more money you got to put down, which is I just did an episode on Usually some people they say, well, how can I make money with no money? Well, you’re going to put time and energy into it where it seems like with franchises it’s not much different. If you want more hands off, it’s going to require more capital typically.

Speaker 1 (16:50):

You got it. Money and time are inversely related. So when you hear home base, this is the thing I always say about my lovely network marketing friends. I love people who come from network marketing. They have so much grit and they have so much courage. They’ll talk to anybody. That’s how they built their network marketing business. Those businesses really aren’t designed to be part-time, which is why so many people get in because it’s a really low investment that lowers the barrier of entry. But the people who are successful are the people who put the most amount of time into it. Now, we flipped that again to our conversation about a laundromat. This could be a million dollar build out potentially, but maybe you’re walking into, I mean, I don’t want to make any claim about it, but five, maybe 10 hours a week, maybe right at the most, right?

(17:36)
Because what are you doing in there? You’re not washing people’s clothes, right? You’re just making sure it’s operational. And you may even with scale, with franchising, Chris, we see that wealth is created through scale in anything else. So if you become a house flipper, it’s not about one. It’s how do you multiply that or own real estate properties and rent them Airbnbs. It’s about leverage. Same thing in a franchise. The greater scale you build, the more leverage you have. I might take an owner who let’s say leaves a big job at JP Morgan and steps into his business as a retired W2 refugee, but he didn’t come here to buy a job. He came to be the CEO leading people, maybe taking skills he took from his big WW two job. So he builds out a location and then maybe in the beginning he’s got this big learning curve to small business and hiring the right people for the particular business.

(18:26)
So maybe he’s dabbling 20 hours a week, but when he goes to unit number two, he’s got it figured out. So he may hire a general manager from day one. He might’ve played that role in the beginning until he got it under control. But now when you go to bill two and three, you’re hiring the people right from the beginning. And there’s a story like this on my podcast where the guy says by the third store, he was there for the grand opening, then he took a two week vacation. He’s like, my team had it. And he validated to me. He’s like, when I said yes to this business in 2018, and this was recorded last year in 2022, he said, I just hoped to create enough revenue from the business to pay my utility bills all the little I have enough money to live off of.

(19:11)
I just wanted some cashflow money. And he said, this business today has exceeded his expectation in every single way. That’s why he keeps building more of ’em. He’s like, I’m just having fun. It’s not taking me more time. I’m making way more money than I ever needed to. I’m building this amazing asset that’s going to have tremendous brand equity that will be valued when I go to sell it because he invested at the younger side of a brand. And I always say that the best time to get in is, or it’s known as Chick-fil-A before it’s just a chicken place. But you look at the leadership and you’re like, oh, they have a vision. They’re onto something and you help to awaken that brand, well then you own the best, most established locations in your market. So when the whole world wakes up and everybody’s like, how did you get this?

(19:55)
You’re like, there’s no more locations, but you could buy mine, pay me six times what I built and I’ll happily go away. People want it. Private equity comes in and buys Planet Fitness locations and Massage Envy locations and orange theory locations. We’ve seen senior care businesses. We’ve seen it happen over and over and almost every industry, even automotive. So you have to think bigger than just a mom and pop business. There’s a lot more going on when you get involved in a franchise that can mean even more money in shorter amounts of time, depending on the brand doing different things. So think there’s more leverage there versus just building a mom and pop business with one location and trying to multiply that. But you’re missing out on the whole brand recognition piece, which is again, what creates even more value on top of the value you’ve created with your locations. It’s all

Speaker 2 (20:50):

Exponential as well. Brand value creates exponential results, and it’s kind of like multifamily real estate where it’s not based on the value of the property per se, but it’s based on the profitability. The more profitably it’s the more it grows and there’s not too many things you can invest in where you invest in it, you get more profits, more cashflow, but with more cashflow also comes a higher selling point too. So that equity grows while you make more cashflow. That’s a very rare combination to find.

Speaker 1 (21:16):

That’s really where franchising wins. The scale piece is what really sets it apart. And that doesn’t mean that people don’t enter in with a single unit. Everybody starts where they feel comfortable. No judgment over here. You can’t get to two or three if you can’t get to number one, right? Sometimes it’s a financial restraint constraint. I always tell people, if putting down extra money for number two and number three upfront makes you feel cash poor for number one, don’t do it. Right? Any scarcity in your mind is going to limit you. So I want you to feel abundant in always in time and money and energy in everything. And once you get number one, if the territories around you have sold, you’re going to have more courage, you’re going to have more confidence. You come back to me, we find you another brand, and now you may enter with multiple units.

(22:01)
So there’s so many different ways to build and scale wealth within franchising. It can be single unit of multiple brands, but you have a greater economy of scale if you take one brand and the learning curve, and then if you own an entire market and then even the economy of scale of having one general manager that you raise up to be the manager of all three stores saving on the managerial salary, that it’s going to be cheaper to pay him or her a little bit more than to pay three separate general managers and three separate businesses. So all of these things are things that I teach. We massage the conversation. I say, I do not talk you into anything. I talk you through it. You and your spouse or your partner or whatever. You guys make the decision about what’s best for you.

Speaker 2 (22:51):

So who would this not be for? Who’s maybe not a good candidate when you’re meeting with somebody say, you know what, this is probably not for you.

Speaker 1 (22:57):

That’s a great question. So few things. One of the most important things to success in a franchise is one’s ability to follow the process. So if you’re like a, Hey, I’m an inventor, I want to do it my way kind of person, franchising is probably not for you. I think minimally financially, I would want you to have about a hundred thousand liquid plus or minus. It could be 81, 20. I think that’s where we can start to create options. Obviously the more money you have, the more options you have buying a car like anything, but I’d say a hundred thousand liquid or access to through HELOC or your, I love how you went right for that Rob’s program. That was great. You’re rolling over your 401k, what else? So your personality and not being coachable or open, not having enough money if you don’t have any time, if you’re super busy and you’re just like, I don’t have any bandwidth, or do you have a spouse?

(23:55)
Do you have a teenage or a grown child? It’s in your heart, but can you put it in somebody else’s? So Chris and I just, Chris sent me a referral, two very busy W2 professionals over here on the east coast, and one’s a doctor, one works in it, but you know what? They made the time. I was worried for ’em in the beginning. I was like, are you guys sure with kids you can add something else to this mix. But they were so sure and passionate that owning a business is what they really want for their future, that they just had the conviction that we know it’s going to be a little bit nutty in the beginning, but we’re willing to compromise to create the outcome we want in three to five years. And maybe even being able to ditch one of these jobs or both of the jobs should everything go well, and the scale in that franchise come. So if people want it bad enough, they’ll make the time. But I think that’s also, it’s money, it’s time or timing, and then coachability being open. I think if you have those three things, probably worth at least exploring. And if you don’t, there are other things you can do to invest your money.

Speaker 2 (25:03):

I know like you mentioned, we have somebody, clients like it or the health professionals. We’ve had network marketers. You mentioned that earlier. We have network marketers say, Hey, we want to make sure we protect our income or even just get additional streams of income. Let’s build something like a spa, like a health spa or something like that. We’ve got people, like you said, do laundromats. We’ve even got professional hockey players looking at options right now. What they can do when they’re going the off season. I mean, that’s just so cool. Why do you think now is such a good time to do franchising?

Speaker 1 (25:32):

Well, let’s read the thing that’s right behind you. Live your life now, not tomorrow, Chris. Chris’s never going to be a perfect time. So it’s like, oh, I didn’t know franchising was an option. I just met a person who might be able to help me. I might as well explore it now. Or, Hey, I’m worried about losing my job. I better start exploring now because if I do lose my job, it’s going to be that much harder for me emotionally and financially to take the leap. So I always say it’s harder to come from a place of scarcity or a lack when you lose the job and you’re bleeding financially, living off of your severance, which everybody wants to use to invest in the franchise, it’s like better to be in the position where you already own the business and then the layoff comes, right? Like, I don’t need that job anyway. I already got a business. So it’s like having the future vision of this is what I want and now is the time. It’s as good as any. It’s just like we decided is now the right time to get married? Is now the right time to have a child or another child? You just got to do it. If that’s what you want in your life, you just got to make it the right time right now.

Speaker 2 (26:38):

And it’s a good point you bring about with unemployment, right? I mean, that’s true. We haven’t had high unemployment for a long time. So there’s always ebb and flow. There’s times of low unemployment, there’s times of high unemployment. We haven’t really been in that place yet where we’ve had a really big recession for quite a long time now, going on over 15 years. It kind of makes you wonder, would now be a better time to start today versus starting out, like you said, out of necessity where now you’re mentally scrambling, you’re emotionally scrambling, and you’re financially strapped. That would be the worst time to start a business, in my opinion.

Speaker 1 (27:12):

It’s so hard. And you know what the best thing is about franchising? Chris, in one of my very first jobs in the franchise industry right out of college, my first mentor taught me in good times and bad franchising wins. So in good times, people want more of the American dream. They’re putting money in their wealth creators in bad times where there’s scarcity. People want control. So when people fear they’re going to lose a job or there’s instability or at high interest rates or whatever this thing is we’re in now a recession, not a recession, everybody has their own definition. I hear it every day. I want recession resistant. I’m like, great. There are franchises. I’ve just made a little video about this the other day. I said, here are three simple franchises that are recession resistant at services, elderly care and beauty brands. Beauty brands, yes, because women never stop.

(28:03)
It would’ve to be a really, really bad day in Kim’s life for me to stop coloring my hair, right? I’ve got to color my hair before I go gray, right? My manicure, my skincare, all the things that I do. I go to the gym to look good and feel good. It’s part of how I define myself. It’s important for my business and my profession. I’m not going to stop doing it. And I’m not the only woman. If you have a girlfriend or a wife or a daughter in your life, you see the credit card bills. There are certain industries that regardless of what’s happening in the world, people are spending money. And there’s a lot of industries that on the outside, people would say, wait in a recession, that must really get hit hard. Where I could be like, I don’t know. Go look at their data.

(28:46)
Massage Envy is the perfect example. I don’t know if you know this, but Massage Envy their first surge within the recession of 2008. So they created a market for a way for people to relax in a stressful time. So to the outsider, you think, oh wait, that’s like a luxury. I don’t have to do that. But they’ve defined a customer avatar that I need to go to the gym. Their average customer needs that regular monthly massage. Cool. But if you’re out there on your own, we’re limited by our own assumptions and beliefs. And so this is why I say, come to me. I’m not going to make you right or wrong. I’m just going to challenge you to be like, wait a minute before you believe that and you eliminate a perfectly great option, go talk to the franchisor again. They don’t want to talk you into anything. They don’t want you to fail. They don’t want you to sue. They just want to talk you through it. And they have factual data. If you looked at the factual data of Massage Envy, it would blow your mind because it’s so, it contradicts what your thinking brain would actually believe.

Speaker 2 (29:54):

That’s the thing, franchisers, they don’t want to bring you on if they don’t think you’re going to be successful. Their brand is online. It’s like me, we don’t bring clients on unless we know they’ll be successful in our program. We want to keep that perfect success rate. And I think that’s the same thing with franchisers. They want the same thing too.

Speaker 1 (30:12):

You better believe it. I mean, nobody wants you to lose money. Nobody wants to hurt anybody. People in franchising. Now, again, I don’t speak for everybody out there in the whole big, bad world of franchising. I have what I call my little booker Raton like perfect paradise in franchising. And that’s why I do what I do inside a franchise because I have a team of people that goes out and finds the right franchisors, the ones that have integrity and have good solid numbers and have history and track record to back that up in leadership to help support you and take the company forward. So we’ve sort of sifted and sorted. And even with all of that, Kim Daly has sifted and sorted because I’ve been doing this for 22 years. So I just sort of apply, do I like them? How do I feel about it?

(30:58)
And that’s always served me really, really well, Chris. But I always tell people, you’re not limited by my relationships because if there’s a business that you love that I don’t know anything about, bring it on. I’d love to learn about it. May the best franchise win. Because what I’ll do is I’ll teach you what the gold standard looks like with my, I know this franchisor is a gold standard in their industry. So bring your model and put those franchisors up against these and say, do they match? And if that business ends up being the match for you, I’ll work for the referral from you all day long, me making money every time. That’s not the way you do anything with integrity. It’s about me helping you. And then the more you give Chris, the more you receive in the end, it all comes back. So again, it’s just, it’s more about having an open mind to get educated to see what are the possibilities?

(31:52)
Would this be a good investment for me? Would I be successful at it? And on that note, I do want to say this, the franchising is so good. People will be like, well then why do people fail? And they’ll ask me, could I be a failure? And I’m like, or could am I the one to be successful? I’m like, I don’t know. Are you are the only one that’s going to show up for your dreams? So when people ask me, what are your success rates? Well, I don’t own the success rate. I lead the horse to water, the cow to water or whatever. But I dunno what you do after you show up, how you show up for your business personally, professionally, and financially, and with consistency that’s between you and your franchisor. So I don’t expect you to go on and fail, but certainly some people that I’ve placed over the years have not done well.

(32:40)
And do I take it personally? I mean, I wish they came back to me for a little bit of coaching. I would help their mindset a little bit, but if they don’t, I can’t help. I can’t them. And neither can a franchisor. And it’s not reality that every single person’s going to make the most of their moment. But the vast majority of people who are saying yes are living their lives. And if they’re not the ones who are not successful, they’ll own it. Most of the time you find people are pretty big, they’ll be like, yeah, you know what? I could be and what’s even better? People will be like, I wasn’t successful. And then I stopped doing it my way and I started doing what the franchisor told me to do, and then I became really successful. I love that kind of validation where it’s like, oh, just do what they say to do. Why is it so hard? Sometimes it’s just hard. It’s hard for us to let go of control and be willing to follow somebody else’s lead.

Speaker 2 (33:33):

It’s like a meme I have. It says, if at first you don’t succeed, do what your coach told you to do in the first place

Speaker 1 (33:42):

That would be perfect in franchising. If at first you don’t succeed, do what the franchisor told you to do in the first place. So that’s my story. I mean, I’m a history maker in my industry. I still do exactly what I was trained to do February 14th, 2002 when I went to training to become a consultant. Now, I’ve made parts of the business systems my own, but I don’t skip any part of what I was taught to do 22 years ago. Because the system works. Why am I going to change it?

Speaker 2 (34:14):

Kim, if people want to get ahold of you, how do they do it?

Speaker 1 (34:17):

The best place is I’m launching a new lead magnet pretty soon. It’s going to be so great. It’s a little quiz for all of you, but it’s not ready today. But go to my website. Maybe by the time you’re listening to this, it’s up there. It’s going to be a quiz called How to Pick a Winning Franchise. But go to my website at the daily coach DAL y.com. Now, I also want to say that I am a content educator, so I am all over the place. If you go to YouTube and look up the Daily Coach, I have over 800 videos. I have a podcast of my own on Spotify and Apple called Create Wealth Through Franchising Rising to the Top, not in the top Apple 1% yet, Chris, but I’m getting there. I think I soon will be the number one ranked podcast in the franchise space. So I’m on LinkedIn, Instagram, you name it. If you Google me, you can find me and if I can help you, absolutely feel free to reach out. Love to meet you.

Speaker 2 (35:13):

Wonderful. Yeah, we’ll be sure to put that in the show notes as well, just so people can get that. In case they’re driving, we don’t want them to crash trying to type in the Daily coach with the DALY, right Daily coach.com. So yeah, we’ll be sure to put that in the show notes for everybody there.

Speaker 1 (35:27):

That’s great, Chris, thank you so much.

Speaker 2 (35:29):

You bet. And everybody, there it is. Your success does depend upon you. And as she said, there’s no perfect time, right? Really, the perfect time is now. Right? What is it right now that you can do to start changing your life today so that you have a better tomorrow as well? Guys, that choice is up to you. Make it a wonderful and prosperous week and we’ll see you later. Franchise is not much different. If you want more hands off, it’s going to require more capital typically.

Speaker 1 (35:55):

You got it. Money and time are inversely related. So those businesses really aren’t designed to be part-time, which is why so many people get in because it’s a really low investment that lowers the barrier of entry. But the people who are successful are the people who put the most amount of time into it. And the greater scale you build, the more leverage you have.

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