Franchise Advantage with Lance Graulich

Welcome back to the Passive Wealth Strategies show. Today we interview our guest Lance Graulichto to find out all about franchises and how they can replace your job or help you earn more. 

Lance Graulich is the founder & CEO of ION Franchising, an industry leading franchise consulting and development group, that represents over 500 franchise brands & business opportunities within 90 categories. Lance helps prospective entrepreneurs find their perfect franchise for FREE. He also assists independent business owners in creating a franchise system. Lance started out in the family business on Wall Street after receiving an economics degree. He then joined a TGI Friday's franchise in Phoenix, AZ as a key executive and was vital to the rapid growth of this $225,000,000 organization. Mr Graulich was a multi-unit, multi-state franchise of Wingstop and Krispy Kreme Doughnuts. He has created countless start up brands and has become the industry leading donut expert. He is the founder of a donut chain called Pinkbox in Las Vegas. His latest start up bakery project is with a Food Network star. As a business start-up expert with more than 25 years of experience, he has served as President of various franchise advisory councils and boards advising emerging franchise brands. He has helped a multitude of companies grow efficiently & effectively. Lance routinely provides advisory services to private equity firms covering the restaurant industry as well. and finding the money.

[00:01 – 8:30] Opening Segment

• Lance talks about leaving Wall Street to work for major franchises across the US.
• Being a franchise broker.
• The difference takes on owning and operating franchises.
• Franchises categories.
• Absentee owner model

[8:30 - 17:00 ] Franchise Business Model :

• What franchises have in common with Real Estate investing.
• Why some franchises perform better than others.
• Replacing or keeping W2 with a franchise.
  •  Lance shares two stories about clients who successfully implemented a franchise as a source of income.

[17:00 –18:30 ] Loans and Financing

• Lance describes different tactics to fund a franchise.
  • Using your 401K - ROBS (Rollover Business Startup Loan)
  • SPA Loans

[18:30 –23:20 ] COVID-19 Impact on Franchises

• Businesses that rely on customers coming into their building.
• The power to adapt to any situation
• Lance shares his thoughts on some franchises that had difficulties during the pandemic.

 [23:20 – 29:00] Closing Segment

• Quick break for our sponsors
• What is the best investment you've ever made other than your education?
  •  Joining the largest franchise brokerage in the US.
• Lance's worst investment
  • Lance shares his story of an unsuccessful partnership on a WingStop franchise.  

• What is the most important lesson that you've learned in business and investing?
  • Take advantage of the right resources.
  • Joining Masterminds.

• Connect with my guest. See the links below.

Tweetable Quotes:

“Cash is king, capital is king, franchising is no different, there are plenty of models that can grow on their own through their cashflow at their own speed .” - Lance Graulich

“The final step in validation with a franchise is that you get to talk to other franchise owners and understand about the best practices and how to ramp up.” - Lance Graulich

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Connect with Lance through :

facebook.com/ionfranchising/

IG: @ionfranchising

Visit his website: www.ionfranchising.com