Day 41: How I Expand Successfully 

Yesterday I was talking about 2 Vegas shows.

The inferior talent sold for $2 billion and the other got eaten by a Tiger.

A lesson in distribution on steroids in my opinion.

I’m supposed to be in Vegas playing hockey right now but some drama etc… led me to make a mature decision for once and stay home with my family. 

There is hope for everyone!

I literally woke up in the middle of the night and was thinking about this ONE THING.

That’s possibly sad and something I shouldn’t admit..?

Anyhoo…

This comes off the back of The Blue Man Group and how they simultaneously ran shows across the world.

Your ONE THING today is about growth, expansion and the mistakes your coaching clients make when doing so.   

I’ll explain it in a franchising example which I think might make it easier to get the message.

If I owned a Subway franchise (which I would not LOL)…. I just bought myself a job for approximately a $300,000 outlay and there’s zero chance of making “real money” with an individual franchise.

So how can I make a good return as a Subway franchisee… I hear you ask?

You need to own three of them.

And the X factor is that all three need to be within driving distance of one another.

So, I’d have 3 locations but one central inventory supply (lettuce, tomatoes etc..), one central payroll/admin and one central group of staff that could fill in at other locations.

Also, these should be bought one at a time (get first right of refusal in the franchise agreement on surrounding territories) because a Subway franchisee is likely not a seasoned business person and three at one time in the beginning would be overwhelming.

The mistake made is owning multiple franchises but in different parts of the city/state and subsequently having three franchises that all have next to zero chance of making any real money. It’s important to look for retail franchise opportunities that offer various benefits that differentiate the model from typical small businesses. 

Subway sure as heck isn’t going to tell them this. 

Exact same principle applies when expanding a traditional business and very common to mess up expansion. 

The $150 Billion dollar company, Uber, established itself across San Francisco for two years before moving into other markets. 

If they expanded into other markets sooner, I’d dare they wouldn’t have become ‘Uber’.

And this my friend is why the local businesses need you as their coach!

Kaboom.

Obsessed with your business coaching success,

King Karl

PS.

You don’t have a money problem.

You don’t have a client problem.

You have a refusal to help people before they pay you problem.

That’s the PROBLEM!

Link to subscribe is here:

https://thesixfigurecoach.com/subscribe/

Missed a day? Catch up here.