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b"Welcome back to the Passive Wealth Strategies show. Today we interview our guest Lance Graulichto to find out all about franchises and how they can replace your job or help you earn more.\\xa0\\nLance Graulich is the founder & CEO of ION Franchising, an industry leading franchise consulting and development group, that represents over 500 franchise brands & business opportunities within 90 categories. Lance helps prospective entrepreneurs find their perfect franchise for FREE. He also assists independent business owners in creating a franchise system. Lance started out in the family business on Wall Street after receiving an economics degree. He then joined a TGI Friday's franchise in Phoenix, AZ as a key executive and was vital to the rapid growth of this $225,000,000 organization. Mr Graulich was a multi-unit, multi-state franchise of Wingstop and Krispy Kreme Doughnuts. He has created countless start up brands and has become the industry leading donut expert. He is the founder of a donut chain called Pinkbox in Las Vegas. His latest start up bakery project is with a Food Network star. As a business start-up expert with more than 25 years of experience, he has served as President of various franchise advisory councils and boards advising emerging franchise brands. He has helped a multitude of companies grow efficiently & effectively. Lance routinely provides advisory services to private equity firms covering the restaurant industry as well. and finding the money.\\n\\xa0\\n[00:01 \\u2013 8:30] Opening Segment\\nLance talks about leaving Wall Street to work for major franchises across the US.\\nBeing a franchise broker.\\nThe difference takes on owning and operating franchises.\\nFranchises categories.\\nAbsentee owner model\\n[8:30 - 17:00 ] Franchise Business Model :\\nWhat franchises have in common with Real Estate investing.\\nWhy some franchises perform better than others.\\nReplacing or keeping W2 with a franchise. \\xa0Lance shares two stories about clients who successfully implemented a franchise as a source of income.\\n\\n[17:00 \\u201318:30 ] Loans and Financing\\nLance describes different tactics to fund a franchise.Using your 401K - ROBS (Rollover Business Startup Loan)\\nSPA Loans\\n\\n[18:30 \\u201323:20 ] COVID-19 Impact on Franchises\\nBusinesses that rely on customers coming into their building.\\nThe power to adapt to any situation\\nLance shares his thoughts on some franchises that had difficulties during the pandemic.\\n[23:20 \\u2013 29:00] Closing Segment\\nQuick break for our sponsors\\nWhat is the best investment you've ever made other than your education?\\xa0Joining the largest franchise brokerage in the US.\\n\\nLance's worst investmentLance shares his story of an unsuccessful partnership on a WingStop franchise.\\xa0\\xa0\\n\\nWhat is the most important lesson that you've learned in business and investing?Take advantage of the right resources.\\nJoining Masterminds.\\n\\n\\xa0\\nConnect with my guest. See the links below.\\n\\xa0\\nTweetable Quotes:\\n\\u201cCash is king, capital is king, franchising is no different, there are plenty of models that can grow on their own through their cashflow at their own speed .\\u201d - Lance Graulich\\n\\u201cThe final step in validation with a franchise is that you get to talk to other franchise owners and understand about the best practices and how to ramp up.\\u201d - Lance Graulich\\n------------\\nConnect with Lance through :\\nfacebook.com/ionfranchising/\\nIG: @ionfranchising\\nVisit his website: www.ionfranchising.com\\xa0\\n\\xa0\\nLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes"