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Listen "How to Build a Strong Business Foundation: The Power of Franchising with Rick Mayo [Video]"
Episode Synopsis
Are you ready to embark on a journey of innovation and success? Join Karl and Rick Mayo to discuss Rick's disruptive approach to creating innovative personal training business platforms that have served thousands of licensed fitness facilities worldwide. They cover the importance of having a strong North Star, building skillsets to take advantage of opportunities, and recruiting talented people who join your mission. Rick stresses the potential risks and rewards of franchising in business and how it offers access to proven systems, tech stacks, increased chances for success, and much more.
Let’s explore why franchising is a viable business option and how it eliminates the need to recreate the wheel while saving time and money!
[00:00 - 06:49] Disrupting the Fitness Industry
• Rick's three-decade journey in the fitness industry
• How he created innovative personal training business platforms
• His passion for entrepreneurship and helping people get to a healthier place
• How you can provide a better customer experience for your clients
[06:50 - 13:12] Attracting High-Level Talent to Achieve Big Vision
• How Rick built a multicultural brand with franchising
• Treat every client like they were the only one
• Recruiting high-level talent to the organization is a skill
• Creating a big enough vision to attract A players
[13:13 - 19:34] Financial Literacy and the Need for Up-Skilling
• Technology is a big part of scaling up and closing gaps
• Investing in yourself and learning new skills is important for conversations with high-level individuals
• People still need people - AI can't disrupt the human-to-human experience.
• The most common thread in blue zones is strong community connection.
[19:35 - 26:09] Mitigating Risk and Finding Success
• Loneliness is the biggest mortality issue we are facing
• The benefits of franchising businesses
• Franchisees are in business for themselves but not by themselves
• How franchising mitigates risk and provides a turnkey-proven business system
[26:10 - 34:16] Closing Segment
• Franchising can be a great shortcut to success and save time and headaches
• Established businesses, such as franchises, have proven systems that can add value
• Franchisees often get a higher multiple when exiting than mom-and-pop businesses
Quotes:
“Life's what happens while you're busy making plans.” - Rick Mayo
“When you’re getting into franchising, you're in business for yourself, but not by yourself.” - Rick Mayo
"If you have a compelling why, you can work your tail off." - Rick Mayo
Connect with Rick!
LinkedIn: https://www.linkedin.com/in/teamalloy/
Website: https://www.rickmayo.com
Reimagine your marketing by visiting https://www.streamlinedmedia.ai/
Follow us!
Instagram: https://www.instagram.com/streamlinedmedia.ai/
Facebook: https://www.facebook.com/streamlinedpodcasts
Twitter: https://twitter.com/streamlined_ai
LinkedIn: https://www.linkedin.com/company/streamlinedmedia/mycompany/
YouTube: https://www.youtube.com/channel/UCbTlM77zvAg6uCxmbMDMoZw
TikTok: https://www.tiktok.com/@streamlinedmedia
Leave a RATING and REVIEW on Spotify, Apple, or wherever you get your podcasts.
Let’s explore why franchising is a viable business option and how it eliminates the need to recreate the wheel while saving time and money!
[00:00 - 06:49] Disrupting the Fitness Industry
• Rick's three-decade journey in the fitness industry
• How he created innovative personal training business platforms
• His passion for entrepreneurship and helping people get to a healthier place
• How you can provide a better customer experience for your clients
[06:50 - 13:12] Attracting High-Level Talent to Achieve Big Vision
• How Rick built a multicultural brand with franchising
• Treat every client like they were the only one
• Recruiting high-level talent to the organization is a skill
• Creating a big enough vision to attract A players
[13:13 - 19:34] Financial Literacy and the Need for Up-Skilling
• Technology is a big part of scaling up and closing gaps
• Investing in yourself and learning new skills is important for conversations with high-level individuals
• People still need people - AI can't disrupt the human-to-human experience.
• The most common thread in blue zones is strong community connection.
[19:35 - 26:09] Mitigating Risk and Finding Success
• Loneliness is the biggest mortality issue we are facing
• The benefits of franchising businesses
• Franchisees are in business for themselves but not by themselves
• How franchising mitigates risk and provides a turnkey-proven business system
[26:10 - 34:16] Closing Segment
• Franchising can be a great shortcut to success and save time and headaches
• Established businesses, such as franchises, have proven systems that can add value
• Franchisees often get a higher multiple when exiting than mom-and-pop businesses
Quotes:
“Life's what happens while you're busy making plans.” - Rick Mayo
“When you’re getting into franchising, you're in business for yourself, but not by yourself.” - Rick Mayo
"If you have a compelling why, you can work your tail off." - Rick Mayo
Connect with Rick!
LinkedIn: https://www.linkedin.com/in/teamalloy/
Website: https://www.rickmayo.com
Reimagine your marketing by visiting https://www.streamlinedmedia.ai/
Follow us!
Instagram: https://www.instagram.com/streamlinedmedia.ai/
Facebook: https://www.facebook.com/streamlinedpodcasts
Twitter: https://twitter.com/streamlined_ai
LinkedIn: https://www.linkedin.com/company/streamlinedmedia/mycompany/
YouTube: https://www.youtube.com/channel/UCbTlM77zvAg6uCxmbMDMoZw
TikTok: https://www.tiktok.com/@streamlinedmedia
Leave a RATING and REVIEW on Spotify, Apple, or wherever you get your podcasts.
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