Why Franchising is Like Bumper Bowling | Why 9 Out of 10 Franchisees Succeed and Why 96% of Small Business Owners Fail

Show Notes

Matt Kline the OXI Fresh Franchise Bran Developer joins us to share why the turn-key step-by-step proven systems that successful franchises provide lead to 9 out of 10 franchises succeeding + how to practically fund your business.

  1. Turn-Key Marketing
    1. FUN FACT – Why 96 Percent of Businesses Fail Within 10 Years – https://www.inc.com/bill-carmody/why-96-of-businesses-fail-within-10-years.html 
  2. Checklists for Everything
    1. NOTABLE QUOTABLE – “We don’t like checklists. They can be painstaking. They’re not much fun. But I don’t think the issue here is mere laziness. There’s something deeper, more visceral going on when people walk away not only from saving lives but from making money. It somehow feels beneath us to use a checklist, an embarrassment. It runs counter to deeply held beliefs about how the truly great among us—those we aspire to be—handle situations of high stakes and complexity. The truly great are daring. They improvise. They do not have protocols and checklists. Maybe our idea of heroism needs updating.” – Atul Gawande, The Checklist Manifesto: How to Get Things Right
  3. Key Performance Indicators
  4. Scheduling Center 

Can I use credit cards in investing and funding a small business?

How to Practically Fund Your Business:

  1. Get 3 Jobs and live below your means and save all of your green
  2. Bank loan
  3. Friends and family
  4. Partner
  5. Credit card

NOTABLE QUOTABLE – “Delight thyself also in the LORD, and he shall give thee the desires of thine heart. Commit thy way unto the LORD; trust also in him, and he shall bring it to pass.” – Proverbs 37:4-5

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