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#022 - Why Franchising is not turnkey ft. Angela Coté from Cultivate Advisors

By Erin Carpenter

One of our favorite Franchise Risers is back on the show! Angela Coté returns tto bust a common franchising myth - that franchises are turnkey businesses. Listen to get truth and to discover why franchises aren’t a “set it and forget it” type of business. What We Cover  * Welcoming Angela Coté and discussing her new role  * Why franchising is NOT turnkey  * Myth #1: You open your franchise and customers just come       * The importance of hard work and grit       * The role of marketing when opening a new franchise  * Myth #2: You won’t spend more than the franchise fee       * Ample working capital is essential  * Myth #3: Once the franchise gets going, it becomes turnkey       * Why you’ve got to stay involved as an owner  * The other side: What franchisors need to know Resources We Mention  * Cultivate Advisors  * Angela’s Facebook Page  * Angela’s LinkedIn Page  * Angela’s Instagram Page  * Email Angela  * Franchise Springboard Get Inspired by Angela  * “You can go along and do the trial and error thing and make expensive mistakes, or you can hire an advisor - somebody that's been in your shoes that can guide you to make the decisions to help move you forward instead.”  * “I get that comparing when it to starting a business from scratch it seems turnkey, but there's just so much more to it.”  * “I'm trying to bust the myth about franchising being turnkey because I think it comes down to having like very realistic expectations from the start about what it takes to be successful.”

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