In this episode of Hustle Inspires Hustle, host Alex Quin sits down with Jon Ostenson, a franchise expert from Franbridge Consulting. They discuss the benefits of franchising, particularly non-food franchises, and how they can be a viable alternative to starting a business from scratch. Jon shares insights on his journey from the corporate world to franchising, his strategies for managing multiple franchises, and how franchising can be a great addition to a real estate investor's portfolio. They also touch on the importance of continuous learning, mentorship, and giving back to the community.
Episode Outline
- [00:00:03] Introduction by Alex Quin
- [00:01:15] Introduction to Jon Ostenson and Franbridge Consulting
- [00:04:45] Jon's transition from corporate to franchising
- [00:08:30] The appeal of non-food franchises
- [00:12:10] Strategies for managing multiple franchises
- [00:15:25] Franchising as a complement to real estate investment
- [00:19:05] Steps to starting a franchise and return on investment
- [00:23:50] The importance of mentorship and networking
- [00:28:40] Jon's philanthropic goals and personal motivations
- [00:32:15] Final thoughts and where to find Jon Ostenson
Wisdom Nuggets
Embrace Proven Systems
Franchising offers a structured approach with proven systems, reducing the risk compared to starting a business from scratch.
Leveraging Support Networks
In franchising, you are in business for yourself but not by yourself. Support from franchisors and peer franchisees is invaluable.
Balancing Creativity and Structure
While franchising offers structure, it also allows room for creativity within established guidelines, fostering innovation.
Importance of Good Management
Successful franchise operations hinge on finding and retaining good managers to oversee daily operations.
Continuous Learning and Adaptation
Staying engaged in continuous learning and networking is crucial for personal and business growth.
Power Quotes
"Franchising lets you be in business for yourself but not by yourself." - Jon Ostenson
"A good franchise system provides a playbook you can execute from day one." - Jon Ostenson
"You need good people to manage your franchises. They are the key drivers of success." - Jon Ostenson
"Continuous learning is crucial. It's what keeps you relevant and engaged in your field." - Alex Quin
Meet Our Guest
Jon Ostenson
LinkedIn: [Jon Ostenson LinkedIn](https://www.linkedin.com/in/jonostenson/)
Website: [Franbridge Consulting](https://www.franbridgeconsulting.com)
Connect With the Podcast Host Alex Quin:
Instagram: [Alex Quin Instagram](https://www.instagram.com/alexquin)
Twitter: [Alex Quin Twitter](https://twitter.com/mralexquin)
LinkedIn: [Alex Quin LinkedIn](https://www.linkedin.com/in/mralexquin)
Website: [Alex Quin Website](https://alexquin.com)
TikTok: [Alex Quin TikTok](https://www.tiktok.com/@mralexquin)
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