If you’re looking for a franchise opportunity, consider investing in a business turnaround—an underperforming franchise can make money in the right hands. If you’ve got experience and the necessary drive and willpower, it can be a great opportunity. Listen to this episode as we talk about purchasing underperforming franchises, changes that need to be made to management structure, and how to make a failing franchise profitable. Outline of This Episode
[2:30] Kevin’s start in franchising
[8:10] The mindset you should have buying into a failing location
[12:38] What day #1 at an underperforming location should look like
[17:47] The interview process & hiring new staff
[22:38] Where Kevin’s investments have taken him
[26:34] Raising Capital and structuring a fund
[31:55] What Kevin would have done differently
[38:38] Advice for those who want to sell and those who want to buy
Resources & People Mentioned
Club Pilates -
CycleBar -
Make Big Happen by Mark Moses -
Connect with Kevin Easterly
Kevin’s Facebook Group: 10x Apartment Investing And Franchise Mastery -
Facebook -
LinkedIn -
Website: Apollo10x -
Connect With Erik
Facebook -
LinkedIn -
Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.
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