Are you wondering if a strategic partnership could benefit your business endeavors? Are there just some skills that you lack that a partner could take on? If you don’t possess all the necessary skills—or even finances required—to be a business owner, consider partnering with someone who does. My guest today, Stephen Kopshaw, gives us insight into 3 different areas of franchising—and doing it with partners. [0:35] I introduce my guest, Stephen Kopshaw, CEO of FIT 36.
[2:10] How Stephen got his start in franchising
[6:15] How it all began with friendships
[11:20] Play to your strengths—let someone else handle your weaknesses
[14:55] Taking over failing stores = “Turnaround Opportunities”
[17:10] What do you look for in an opportunity
[20:55] What do you look for in a good location
[22:30] The evolution of their partnership
[25:40] Next steps: Buying out a franchise
[29:00] Challenges to overcome
[32:35] Commitment to transparency and change
[34:55] Changes in store for FIT 36
[40:00] Things commonly seen in an underperforming franchise
What can a strategic partnership do for you?
Resources & People Mentioned
BCWE Holdings -
Fitness Together -
Elements Massage -
FIT 36 -
Connect with Stephen
Instagram -
Steve(at)BCWEholdings.com
By phone: 201-371-3353
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.
0 Comments