How do you define success, and what are you doing to achieve it? Many people equate money and power with success. For others, it's the freedom to choose how you want to spend your days. Success is a very personal thing. What drives one entrepreneur may not be the same thing that drives you. Success in life is whatever you define it to be.
So, what does it take to be successful? For Derek Landino, self-education, taking action, and building relationships are key ingredients to his success in franchising. Today, he walks you through how he started franchising and how to overcome the challenges that come with it. From structuring deals to financing your locations, Derek shares valuable lessons you want to take advantage of, especially if you plan to become a franchise owner.
In this episode, he imparts incredible tips for new and aspiring franchisees. Tune in and discover strategic steps you can take as you start building your business from the ground up.
Derek has been married for fifteen years to his wife, Katie, with whom he has two kids. Derek's work experience includes D2D sales and management for ten years. He co-founded a solar company which a large national brand later acquired.
Derek is currently a multi-unit Everbowl and Burn Boot Camp Gym franchisee. Scaling two brands simultaneously, Derek's vision is to grow an empire, and no one can stop him!
“Burn was the scariest decision I've ever made because it was the first time I invested in someone other than myself. I had to trust and believe in my wife.” - Derek Landino
In This Episode:
- How Derek and his wife got involved in franchising
- Building relationships with local banks, structuring deals, and overcoming the challenges of starting and growing a business
- Where can you get funding for your business, and what is the approval process (SBA, Home Equity, Local Banks)?
- How to minimize your tax exposure as a franchise owner or franchisor
And more!
Resources:
- Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com
- Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com
- Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com
- Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
- Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
- Tax-Free Wealth by Tom Wheelwright - https://tomwheelwright.com/resources/tax-free-wealth/
- Franchise Secrets Episode With Tom Wheelwright: Too Many Entrepreneurs Are Missing Out On These Tax-Effective Investing Strategies! - https://podcasts.apple.com/us/podcast/too-many-entrepreneurs-are-missing-out-on-these-tax/id1460276956?i=1000589294058
- Franchise Secrets Episode: Brand Review - Everbowl With Jeff Fenster - https://franchisesecrets.com/podcast/brand-review-everbowl-with-jeff-fenster/
- Garrett Gunderson Books - https://garrettgunderson.com/books
- Ceterus Accounting Solution - https://ceterus.com/
- The Lifestyle Investor by Justin Donald - https://course.justindonald.com/Free-Plus-Shipping-Book-SP
Connect with Derek Landino:
- LinkedIn - https://www.linkedin.com/in/derek-landino-872349a4/
- Instagram - https://www.instagram.com/derek_landino/
Connect with Erik Van Horn:
- Website
- YouTube
- Medium