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Buying a franchise can give you a proven system, an established brand and a faster path into business ownership—but it does not guarantee success.
In this episode of Winners Circle with Jay, Jay Adewole sits down with Matt Stevens, “The Franchise Guy,” a franchise consultant with more than 30 years of experience helping aspiring entrepreneurs evaluate franchise opportunities.
Matt breaks down what people often misunderstand about franchising, why choosing a franchise based solely on passion can be a costly mistake, and what prospective owners should investigate before investing their money.
With thousands of franchise concepts competing for attention, Matt argues that the real question is not simply, “Which franchise should I buy?”
It is:
“What kind of business fits the life I actually want to build?”
Jay and Matt discuss the importance of understanding your strengths, preferred role, financial goals, lifestyle expectations and long-term vision before choosing a franchise.
They also explore franchise fees, validation calls, culture fit, franchisor support, warning signs and the realities facing corporate executives considering entrepreneurship.
Key Takeaways
1. A franchise is not a shortcut to success.
A franchise may provide systems, branding, training and support, but the owner still has to lead, execute, hire, sell, manage and make decisions.
You are buying a system—not freedom from responsibility.
2. Start with yourself before looking at brands.
Do not begin by asking:
“What franchise is hot?”
Start by asking:
“What do I want my life and daily responsibilities to look like?”
Your goals, strengths, personality, preferred management style and financial expectations should shape the opportunity you pursue.
3. Talk to people already living the reality.
One of the most important parts of franchise due diligence is speaking with existing franchise owners.
Ask them about profitability, franchisor support, unexpected expenses, staffing challenges, marketing, operations and whether the opportunity matched what they were originally told.
Then compare those conversations with what the franchisor is telling you.
4. Understand the entire fee structure.
The franchise fee is only the beginning.
Prospective owners should understand ongoing costs such as:
- Royalties
- Marketing contributions
- Technology fees
- Required vendors
- Training expenses
- Real estate or build-out costs
- Staffing requirements
- Working capital
The real question is not just what it costs to buy the franchise.
It is what it costs to operate it successfully.
5. Culture matters as much as the numbers.
A business may look attractive financially and still be the wrong fit.
If the franchisor’s leadership style, values, communication or culture does not align with the kind of organization you want to build, Matt says that is a legitimate reason to walk away.
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If you are considering buying a franchise—or know someone trying to decide whether business ownership is their next move—share this episode with them.
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