What Would Buffett Say?
Diane Pleuss
Own your own business without starting from scratch!| Franchise Consultant | Put your skills & interests to work for YOU! | Complimentary service | Incentives for veterans
I read an article the other day that was sprinkled with Buffett-isms. No, not Jimmy Buffett-isms about beaches ???, Margaritaville ??and Parrotheads?? , but Warren Buffett.
It got me thinking, how would Warren Buffett find the right franchise? He believes that the time to get interested is when no one else is. You can't buy what is popular and do well. Or so his advice goes.?
“Opportunities abound in America.” Warren Buffett
There are lots of franchises to choose from, but you shouldn’t just throw the dice ??and pick one out of the blue. You can be certain that Buffett does his homework.
If we stay with that notion, then we might look for those emerging brands with strong leadership and good unit economics.
Imagine yourself in his shoes. He’d probably conduct extensive research and analysis to find businesses that are currently undervalued or overlooked by other investors.
He’d also look for trends in the market. It is a safe bet he’d also seek out the advice of industry experts and consultants to gain insights into the franchise industry and potential investment opportunities.
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“You are lucky in life if you have the right heroes. I advise all of you, to the extent that can, to pick out a few good heroes.” Warren Buffett
After seeking advice from a respected franchise consultant (I just happen to know one!)??, his next step would be to conduct a thorough due diligence.
He would evaluate the health and growth potential of the business. This may involve reviewing training and support, analyzing digital marketing and territory, and speaking with franchisees and other industry insiders to gain a better understanding of the franchise.
Candidates get to talk to franchise owners. That is one of the major advantages of exploring franchise opportunities. You get to talk to the franchisees to better understand the business and how they’ve approached it.
You don’t have to be a Warren Buffett to make good choices, as long as you do your homework.
If you’d like to explore those exciting emerging market opportunities as well as established brands, I can walk you through the process, at no charge. Guiding you to find the best fit possible is my job. Give me a call today at 925.642.9976.??
?Do you have a favorite Buffett-ism? (Jimmy or Warren will do, as both are billionaires!)
Career Plan Advisor & Professional Certified Coach | Choose your career. Choose your life.
1 年Great piece, Diane. Margaritaville is an excellent convention site!
Revenue Producing Execs??Accelerate your path to a high-impact role|You’re in the room where it happens ??|Be Invaluable|You know there's more|GSD| Recovering HR Exec |Marathon Runner/Triathlete ????♀? ??♀???♀?
1 年Diane Pleuss, your Franchise Fitter what would Warren do is a great question to ask when it evaluating major financial decisions. Warren has some great quotes too!
Scale Your Impact and Income w/o Sacrificing Your Sanity ?? Business Growth Strategist for Coaches ?? Scalable Genius Method? ??? Podcaster ?? Co-Founder GEM Networking Community
1 年I appreciate Jimmy Buffet's quote: "It takes no more time to see the good side of life than the bad." As someone who sometimes suffers from significant anxiety, it's been helpful to learn how to train my brain to see the other side of the story, whether that's regarding what might happen in the future or what someone might be thinking in the present.
Diane Pleuss, SOLID advice, as always! It's always wise to model the experts!
Your LinkedIn Strategy is Hurting My Heart and My Eyeballs | "America's Top LinkedIn Thought Leader" - Forbes | Helping 7-8 Figure Businesses Claim The Top Spot w/ Most Lucrative Position, Niche, and "BSOT" Messaging.
1 年As far as being a candidate who gets to talk to Franchise owners - is that part of the service you provide, Diane Pleuss, your Franchise Fitter?