DESCRIPTION:
John Hayes, the host of the Franchise Hot Seat Podcast, interviews Hao Lam, a successful franchisor with a riveting tale of survival and entrepreneurship. Lam, a Vietnam escapee, narrates his remarkable transition from being a refugee to a prosperous franchisor. He also talks about his book, 'From Bad to Worse to Best in Class,' and how his past experiences influence his dedication to education and franchising. Lam shares his struggles, including near-death starvation at sea and overcoming illiteracy, and his journey of rebuilding his life in North America. He provides insight into the development of his educational franchise, Best in Class, from its initial challenges to its current operational success. Lam stresses the significance of relationships, continuous support, and adherence to a system in franchising. He also discusses his other entrepreneurial ventures beyond education and the importance of remaining focused on one's primary passion. The discussion highlights the human aspect and commitment essential for a successful franchise operation.

- With Hao Lam.


TIMESTAMPS:
00:00 Intro
00:35 Hal Lam's Harrowing Escape from Vietnam
03:15 Life in the Philippine Refugee Camp
07:07 Journey to North America
08:47 Starting a New Life in Seattle
10:50 The Birth of an Education Franchise
11:27 Challenges and Successes in Franchising
17:02 Building Strong Franchise Relationships
23:01 Resolving Human Issues in Franchising
23:48 Selecting the Right Franchisees
26:52 Learning from Past Failures
28:38 The Journey of a Franchisor
30:33 Focusing on Education
36:21 The Value of Franchising
45:54 Marketing Strategies for Franchisees
47:58 Future Franchising Opportunities
49:58 Conclusion and Final Thoughts



LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast

DESCRIPTION:
John and Mark Schnurman, author of 'The Perfect Franchise,' discuss the intricacies of franchising in this podcast. They explore the typical paths people take into franchising, including Mark's personal journey to becoming a franchise consultant. They caution that franchising isn't suitable for everyone, given the financial and commitment requirements. Mark stresses the need for potential franchisees to honestly evaluate their skills and whether a franchise will enhance their lives. The conversation delves into the process of vetting franchise candidates, the misunderstandings about absentee ownership, and the critical role of an owner's dedication. They also tackle the complexities of owning multiple units, the growth and support capabilities of franchisors, and the differences between franchise brokers and consultants. John highlights the value of validation from successful franchisees over national success averages. The conversation underscores the importance of thorough education and appropriate matching in the franchising process.

- With Mark Schnurman.

TIMESTAMPS (Use ChatGPT on Transcript):
00:00 - Intro
00:47 - Mark Schnurman shares how he got into franchising.
02:07 - Discussion on whether franchising is right for you.
03:02 - Understanding why some franchises fail.
04:41 - Explanation of the Six Factor Analysis for evaluating franchises.
06:12 - Tips on lead generation and initial consultations.
07:10 - How to evaluate franchise opportunities.
13:36 - The role of franchise brokers in the process.
19:58 - Challenges faced in franchise consulting.
23:50 - Exploring which industry sectors might suit you.
24:23 - The responsibilities of a franchisee.
25:20 - The importance of resilience and standing out as a franchisee.
25:39 - The pressures of managing multiple franchise units.
29:30 - The concept of “snow sold, not open” in franchising.
36:00 - How to evaluate franchise brokers and consultants.
42:18 - Why understanding franchisee profiles is important.
45:19 - Final thoughts and recommendations for potential franchise owners.


LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast

John Hayes hosts Keith Miller on the Franchise Hot Seat Podcast. Miller is a representative of the Franchisee Advocacy Consulting Group, advocating for franchisees, not franchisors. He has led several franchisee advocacy groups, including the American Association of Franchisees and Dealers, the Coalition of Franchise Associations, and the North American Association of Subway Franchisees. Miller and his wife, Karen, have been Subway franchisees since 1988.

Miller is respected by peers, adversaries, the International Franchise Association, and franchisors. He advocates for franchisees, which he points out, are the largest investor group in franchising but have the weakest voice. Hayes asks why more regulation is needed to protect franchisees in America, the most heavily regulated country for franchising. Miller argues that franchising is not the most regulated industry in the country. He points out that while the FTC does have a franchise rule, it has only been enforced twice in the last 17 years.

Miller and his wife became franchisees in 1988. They both have computer science degrees and MBAs. They wanted to own their own business and started looking at franchises. They first looked at Togos, a competitor of Subway, but Togos didn't have any available territories. They then looked at Subway, which was affordable. They still own three Subway franchises, which they originally built out.

Miller discusses the controversy surrounding Subway, stating that it is the best and the worst of franchising all rolled into one. He acknowledges that Subway built too many stores and that many people didn't make it, especially those who took on debt. He also discusses the changes Subway made in 2000, which led to a sales growth of 20%. However, he admits that Subway struggled in the mid-2000s and that the 5-footlong promotion, while initially successful, ultimately led to Subway being recognized as the cheap, low-cost carrier, and they could never raise prices.

Miller concludes by discussing the recent changes at Subway. Fred DeLuca passed away in 2015, and the DeLucas and Bucks maintained ownership of Subway until April 30th, 2024, when Rourke Capital bought Subway. New leadership was brought in in 2019 with the sole purpose of getting the brand ready to sell.

- With Keith Miller.


TIMESTAMPS
00:00 Introduction to the Franchise Hot Seat Podcast
01:21 The Need for Franchisee Protection
03:45 Keith Miller's Background and Journey into Franchising
08:42 Challenges and Controversies in Subway Franchising
14:22 Current State of Subway and Franchisee Vulnerabilities
17:32 The Importance of Franchisee Education and Due Diligence
27:16 The Importance of Consulting a Franchise Lawyer
27:37 The Blame Game: Franchisors vs. Franchisees
28:26 Human Nature in Franchising
28:57 Financial Struggles and Ethical Dilemmas
32:41 The Reality of Franchise Costs
34:28 The Controversial California Broker Bill
40:25 The Role of Regulation in Franchising
48:06 FTC's Stance on Franchising
51:31 Final Thoughts and Advice

LINKS:

WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast