I am thrilled to have Tom Spadea as our guest on the AmiSights Podcast. Tom explains that his firm, Spadea Lignana, helps people turn successful businesses into franchises by providing regulatory guidance, franchise agreements, and structural support. They work with companies with a proven track record and high profitability, aiming to help them achieve generational wealth through franchising.
The conversation touches on the importance of having processes that can be duplicated to create consistency and brand awareness. Tom emphasizes the need for a successful and profitable business before considering franchising, highlighting that potential franchisees are attracted to the value and unique aspects of the company.
"I think those franchisors that have real good emotional intelligence and they've taken the long view when they're building relationships and they're making their franchise successful, even sometimes at their own short-term quarrel, they're the ones who really make it", says Tom.
We discuss the significance of selecting the right franchisees and the common mistake of selling franchises without proper screening. You can listen here.