Conversations With Coffey

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In this episode I speak to Jennifer Ramos, a business broker and certified exit planning advisor based in California, about the key factors that make a business sellable.

We discuss clean financial records, minimizing personal expenses through the business, semi-absentee ownership, customer and employee satisfaction, and diversifying revenue sources.

Jennifer emphasizes the importance of having an exit strategy from the start, even if the sale is years down the road.

We also explore the potential opportunities for buyers in the market due to the impending wave of baby boomer retirements.

Jennifer shares insights on valuation, preparation for sale, and the importance of thinking about business exit as a continuous strategy rather than a final step.

Jennifer J. Ramos, CEPA heads up JR3 Consulting - https://jr3consultinggroup.com/

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey

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Quick mindset minute episode on how the first message on an issue is not what you want to respond to in kind. It is usually emotionally charged and also not the full story.

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey

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In this episode Guy is joined by Edgar Cepuritis from Cafe Zupas. Edgar gives us a run down on what it takes to find the ideal real estate for a successful franchise and how he beat major companies like Starbucks and Chipolte in obtaining the best sites.

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey

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Greg Mohr aka the ‘Franchise Maven’, is a seasoned franchise consultant specializing in helping individuals and couples find and buy the right franchise through personalized consultations and expert guidance. With a career dedicated to the franchising industry, he offers deep insights and strategic advice to aspiring entrepreneurs.
In this episode, we have the pleasure of delving deep into the world of franchising with the expertise of Greg Mohr, a seasoned IFPG franchise consultant and bestselling author. Greg shares his valuable insights into the franchising process, his transition from the corporate grind to the autonomy of franchising, and how others can do the same.
Guy questions Greg on his approach with potential franchisees, which involves a detailed questionnaire, interactive discussions, and finding the ideal match between franchise opportunities and prospects. They discuss the merits of franchising including its supportive nature and potential for wealth-building, with ample room for freedom and autonomy even for those who are currently employed elsewhere.
Moreover, we’ll explore the significant support franchisors provide in areas like marketing and operations, and why franchising could be more attractive than going at it alone in the small business world.
Takeaways

1. Commit time to explore franchising opportunities.
2. Choose a franchise that matches your goals.
3. Use consultants to navigate franchising.

Quote
“Franchising is not for everybody. So learning about that franchise system is what it's all about." -Greg Mohr
Timestamps
00:00 Introduction and Greg Mohr's background in franchising.
03:25 Understanding the time investment for potential franchisees.
07:00 The right fit between franchisors and franchisees.
12:15 The potential for wealth and freedom in franchising.
17:00 How to get involved in franchising without leaving your job.
22:40 The mutual selection process in franchising agreements.
27:35 Horizontal and territorial growth opportunities.
32:10 The long-term benefits of working with a franchise consultant.
Connect with Greg Mohr:
LinkedIn: www.linkedin.com/in/gregorykmohrWebsite: www.franchisemaven.com | www.ifpg.orgBook: www.amazon.com/dp/B09WC963Q8

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey

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Liz Strikwerda is the Content Marketing Strategist of TrueLark, an AI-led platform helping businesses grow at scale and increase revenue by booking more appointments, improve retention by providing 24/7 customer support, automate as much of customer experience as possible across hundreds of locations, and multiple channels, in real-time.
In this episode of Franchise Biz Real Talk, Guy Coffee sits down with Liz Strikwerda, who shares her insights into how technology, automation, and strategic partnerships have helped franchise businesses thrive.
Liz Strikwerda highlights the importance of quick, efficient, and smart communication with their customers. They discuss the use of TrueLark, an AI-powered tool that provides answers to common questions, such as hours, directions, and appointment availability. She views TrueLark as a partner rather than just a vendor, as they have provided training support and testimonials for their franchise owners.
They also talk about the significance of appointment management in their business and how technology can prevent missed opportunities and wasted resources. The episode delved into the challenges and successes of Frenchies Nail Care, including their franchise expansion despite the impact of the Covid-19 pandemic. Liz emphasizes the importance of the client experience cycle and personalized communication in the beauty industry.
Join Guy Coffey and Liz Strikwerda as they discuss the role of technology, automation, and strategic partnerships in growing a successful franchise business.
Takeaways:

1. Utilize technology and automation to streamline processes.
2. Tailor promotions to individual client needs.
3. Cultivate strong partnerships with technology partners.

Quote:
“Just hang on when things seem a little like you have challenges." -Liz Strikwerda
Connect:
Liz Strikwerda
LinkedIn: www.linkedin.com/in/liz-strikwerda-0968a261
Website: www.truelark.com
Guy Coffee
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.frenchiesnails.com
Instagram: @guycoffey

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey