In this episode of Create Wealth Through Franchising, Kim Daly and Erik Van Horn, an established figure in the franchising world, delve into the realm of franchise consulting. Erik shares his extensive journey, from his beginnings as a tax franchisee to becoming a leader in assisting emerging franchisors to scale their businesses. He discusses his strategic philosophy of semi-absentee ownership, highlighting the effectiveness of managing franchises remotely.

Together, they explore the critical role of franchise consultants in steering potential franchisees towards well-informed decisions. Erik emphasizes the importance of selecting the right franchisor, focusing on essential qualities such as leadership, robust support systems, and the potential for profitability.

Also in this episode:

• During the franchise matching process, it should be emphasized that selecting a franchise is about finding a good match for the owner's role, investment capacity, and overall business model rather than focusing solely on the industry.
• The franchisor's experience building and scaling a franchise system is critical for the success of new franchisees.
• A knowledgeable franchise consultant provides invaluable insight and vetting, ensuring that potential franchisees can navigate the complex franchise landscape with help.

About the Guest:

Erik Van Horn is a distinguished franchising expert with a diverse background spanning over two decades in the industry. Starting his career in his mid-twenties with a tax business, Erik rapidly ascended from managing individual stores to overseeing expansive networks. His roles have included franchisee, regional developer, franchise consultant, and franchisor representative, providing him with a comprehensive view of the industry. Currently, Erik is a partner at Front Street Equity, where he specializes in mentoring young and emerging franchisors to scale their operations and enhance enterprise value.